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2017 ACTUARIAL SALARY SURVEYS
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  #1  
Old 01-11-2012, 03:45 PM
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Default Student Programs Survey: Hours & Raises

Last time I updated my company's actuarial student program, roughly 4 years ago, I was able to come on the AO and find round a good dozen posts with details about what different companies were providing for time, etc.

Today, I'm trying to do the same thing and that information doesn't seem to be available. There's a thread from back in October which got no traction, a couple of numbers from a couple of students complaining about what lousy exam raises they got, and... well, not enough to go on.

On theory that people don't want their company's particular program, in full detail, laid out on the AO - I am volunteering to compile and post that information. That is:

1. PM me the detail of your particular company's student program
2. I will post tables indicating for each exam, the minimum/maximum/average for each program component
3. Please include at least hours provided for first attempt and annual raise on passing - if there are multiple numbers for further details, I'll average those too, but those two factors are the only 'universal' ones, probably.

Of course, anyone who feels like posting the details of their company's student program is welcome to do so.

Thanks!
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  #2  
Old 01-11-2012, 05:16 PM
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Check your pm.
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  #3  
Old 01-11-2012, 05:28 PM
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I posted this back in October:

Quote:
Originally Posted by A2TRM View Post
Here's the info on the 2 study programs I've been in:

Company 1 - Pension Consulting (Fortune 500 global mega-corp)
Study Hours
- 24 Study Hours per Exam Hour (3-Hour exam = 72 Study Hours)
- After failing 1st attempt, study hours cut to 60% of 1st attempt
- After failing 2nd attempt, no study hours provided, but still in study program
- After failing 3rd attempt, kicked out of study program
- 80 Study Hours for FAP 1-5 & IA
- 64 Study Hours for FAP 6-8 & FA
- Must pass one exam every 18 months
Raise / Bonus
- Raise of $1,000 per Exam Hour (3-Hour exam = $3,000 Raise)
- Bonus of $500 per Exam Hour (3-Hour exam = $150)
- Bonus is not conditioned on passing exam on 1st attempt
- FAP 1-5 & IA gets $3,000 raise & $1,500 bonus
- FAP 6-8 & FA gets $3,000 raise & $1,500 bonus
- FSA Modules gets $3,000 raise & $1,500 bonus
- ASA designation gets $5,000 raise & $2,000 bonus
- FSA designation gets $7,500 raise & $3,500 bonus


Company 2 - Life Insurance (small-medium sized regional company)
Study Hours
- 30 Study Hours per Exam Hour (3-Hour exam = 90 Study Hours)
- After failing 1st attempt, study hours cut to 20 study hours per exam hour
- After failing 2nd attempt, no study hours provided, but still in study program
- No official guideline for being kicked out of program ... up to manager's discretion.
- 110 Study Hours for FAP 1-5 & IA
- 75 Study Hours for FAP 1-5 & IA
Raise / Bonus
- No specific amount per exam outlined in study program, all raises/bonuses included during performance review. To promote balance between study progress & work quality, they erased the line between exam raises/bonus and work-product raises/bonus.
- Unofficially: raises appear to be consistent with Company 1, and passing on 1st attempt is rewarded.

Send me a PM if you absolutely must know the specific company names.
I suggest you check out the whole thread:

http://www.actuarialoutpost.com/actu...d.php?t=226611
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  #4  
Old 01-11-2012, 05:43 PM
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Quote:
Originally Posted by A2TRM View Post
I posted this back in October:



I suggest you check out the whole thread:

http://www.actuarialoutpost.com/actu...d.php?t=226611
Thanks, I did miss this one! I'll pull what I can from here in addition to what I get by PM...
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Old 01-12-2012, 12:32 PM
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Thread bump

I've got 8 programs for the survey thus far. I figure on leaving the request to PM me open for at least today as well. Depending on how many additional I get, I'll post the summary either tomorrow or Monday. Thanks to everyone who has sent info in so far.
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  #6  
Old 01-12-2012, 02:26 PM
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PMed you.
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  #7  
Old 01-13-2012, 12:11 PM
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Final pre-report thread bump. The CAS side is over-represented in my sample - c'mon SOA people, let's get moving...

Thanks,
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  #8  
Old 01-13-2012, 04:08 PM
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Results Post #1: Hours: Minimum, Maximum, Average
Code:
Prelim Exams
Exam, 1/P      60    120   91.2
Exam 2/FM      60    120   91.2
Exam 3L/MLC    60    120   94.3
Exam 3F/MFE    50    120   91.2
Exam 4/C       70    136   109.5


SOA Exams
Modules 1-5    48    110   76.7
Modules 6-8    32    75    57.2
Exam DP        120   180   144.1
Exam CSP       120   180   144.1


CAS Exams
Exam 5         100   144   120.8
Exam 6         100   144   120.8
Exam 7         100   144   120.8
Exam 8         75    120   102.6
Exam 9         75    120   102.6
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  #9  
Old 01-13-2012, 04:21 PM
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Results Post #2: Salary Increases: Minimum, Maximum, Average

Code:
Prelim Exams
Exam, 1/P      1000   4000   2412.5
Exam 2/FM      1000   4250   2433.3
Exam 3L/MLC    1500   3000   2225.0
Exam 3F/MFE    1000   3000   2100.0
Exam 4/C       1750   5000   2850.0

SOA Exams
Modules 1-5    1750   3000   2491.7
Modules 6-8    1750   3000   2491.7
Exam DP        2200   6000   4283.3
Exam CSP       2200   6000   4283.3

CAS Exams
Exam 5         2500   5250   3550.0
Exam 6         2500   5500   3600.0
Exam 7         2500   6000   3900.0
Exam 8         2500   6500   3800.0
Exam 9         2500   7000   3900.0
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  #10  
Old 01-13-2012, 04:28 PM
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Results Post #3: Bonuses: Minimum, Maximum, Average

Note, fewer that 1/3 of responses indicated any kind of bonus program.

Code:
Prelim Exams
Exam, 1/P       500   3000   1440.0
Exam 2/FM       500   3000   1440.0
Exam 3L/MLC     500   1625   1206.3
Exam 3F/MFE     500   1625   1206.3
Exam 4/C        500   3500   1737.5
SOA Exams
Modules 1-5    1500   1500   1500.0
Modules 6-8    1500   1500   1500.0
Exam DP        3000   3000   3000.0
Exam CSP       3000   3000   3000.0

CAS Exams
Exam 5          500   3750   2125.0
Exam 6          500   4000   2250.0
Exam 7          500   4500   2500.0
Exam 8          500   4750   2625.0
Exam 9          500   5000   2750.0
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