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  #1  
Old 10-24-2007, 12:32 AM
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Default Post Your Companies Exam Raise Structure Here

I assume this topic currently comes up around these boards but I couldn't find one specifically using the search.
My motivation is maybe I can get the chief actuary to bump these up if they are on the low end of the scale. The structure is outdated with the education redesign.

Exam
1 $1800
2 $1800
3 $2100
4 $2100
5 $2100
6 $2100
7 $2100
8 $2400
9 $2400

ACAS/ASA $2400
FCAS/FSA $2400
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Old 10-24-2007, 12:45 AM
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my company's raise structure? it's a matrix, not flat amounts, sorry.
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Old 10-25-2007, 09:16 AM
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So your exam raises vary by individual?
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Old 10-25-2007, 10:44 AM
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Prof. Surveys forum "exam raises"
http://www.actuarialoutpost.com/actu...archid=1457533

Exams forum "exam raises"
http://www.actuarialoutpost.com/actu...archid=1457540
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Old 10-28-2007, 01:32 AM
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Quote:
Originally Posted by godzilla View Post
I assume this topic currently comes up around these boards but I couldn't find one specifically using the search.
My motivation is maybe I can get the chief actuary to bump these up if they are on the low end of the scale. The structure is outdated with the education redesign.

Exam
1 $1800
2 $1800
3 $2100
4 $2100
5 $2100
6 $2100
7 $2100
8 $2400
9 $2400

ACAS/ASA $2400
FCAS/FSA $2400
I won't divulge my company's structure, but I will say that the averages I have seen for complete value of all exam raises, along with raises for getting the ACAS and FCAS designations, from the first test to last, (for P&C companies, with 9 exams) is about $32 - $40 thousand (based on seeing about 4-5 company's programs). In fact, 2 of the programs I have seen have raises totalling to exactly $37,500.

Your company's total raises add up to $23,700..which seems pretty light.

Do you guys get a bonus as well, or just raises? Every program I have seen also gives out a bonus for passing on the first time (usually $2,500 or $3,000 for each exam).

Last edited by Turkey Club; 10-28-2007 at 10:53 AM..
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Old 10-28-2007, 02:36 AM
tommie frazier tommie frazier is offline
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it is likely fine through about 5 exams. then, it is light on order of about 500 for each successive exam. 500 for 6, 1000 for 7, etc.

the raise for acas is about half of what I've seen in some places. fcas lis anywhere from half to a quarter of some places.

can't pretend to know what makes sense for life side upper level progress.

i've seen 1st time passer bonuses. i've seen the increase handled as a percentage of salary. it all works out about the same. well, the same as normal programs, not the low-end one you have in post 1.
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Old 10-28-2007, 08:16 PM
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New York Life posts theirs on their website. It's probably the most generous out there.

http://newyorklife.com/cda/0,3254,8828,00.html#three

A more important question though is what the company pays for as far as seminars/study tools go. Some can be quite stingy and set a limit on how much money they will pay for study materials or will require that a student pay 25-50% of the cost to attend a seminar. Others will pay 100% of seminar costs. Some won't pay for seminars.

I would rather work for a company with low exam raises but a generous study program than for a company with great raises, but cheats you out of study hours or has a low study allowance.
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Last edited by thequackdaddy; 10-28-2007 at 08:19 PM.. Reason: Whoops bad link...
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Old 12-05-2007, 07:39 AM
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It is also helpful if the company environment actually supports your use of the study hours. I've known some consulting outfits to give the exam students 120 hours for a prelim exam but make it very difficult to actually use those hours.
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Old 12-05-2007, 09:28 AM
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That's on par with our company's structure.
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Old 12-05-2007, 12:03 PM
tommie frazier tommie frazier is offline
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or they let you take them, but you have to stay late to get the work done. sudden;y, that feels more like personal study time to me.
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