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  #11  
Old 02-11-2019, 03:08 PM
Arms91 Arms91 is offline
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I would say you're a little underpaid, especially for CA. I left my previous company right after getting my ASA. I had just over 2 years experience at the time and if I stayed my salary would've been 78k with no bonus in KY. Got a decent bump with my new company even though I'm in an entirely different industry (life instead of pension). Could've done even better if I knew anything about salary negotiations when I made the switch.
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  #12  
Old 02-11-2019, 03:11 PM
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Cue that Father Flynn guy that says jumping companies is bad.

What a joke.

Its really the only way to boost your pay in a meaningful way, that also has a good probability of success.
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  #13  
Old 02-11-2019, 03:15 PM
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Originally Posted by mathmajor View Post
Sad but true. Jumping 3 times has tripled my income. YMMV.

People complain about young folks job hopping, and yet companies are slow as dirt to promote (if they do at all) and don't have any long-term incentives to stay. There is no loyalty on either side.

Do you want employees that make irrational job decisions?
I've jumped twice and have doubled my income, so I'm on the same slope as you.
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  #14  
Old 02-11-2019, 03:37 PM
ActuaryGo ActuaryGo is offline
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I'm going to disagree - 2 years is still within the range where your experience and title need to catch up to your designation. In other words, high variance. Some companies will say "oh yeah, you're an ASA, here's $100k" and many won't.

I am 99% certain your company will either a) not give you a raise or b) not bring you up to "market."

I was always on the low end and only this job change (4th job) brought me to the middle, in 9 years. But I was in a low COLA too. Doesn't always make a difference but some companies have different compensation mentalities. Some say "yeah, we're in Cleveland, let's be cheap" and some say "well yeah, but it's a national job market and bringing people to Cleveland is hard."

It's not always you.

I asked my last employer to bring me to market and I got $5k instead of a $3k adjustment. Woo. New company gave me $40k more. Just how it goes. My rent doubled, but I still made out okay.
Yeah, totally agree. I am not hoping I can get 100k for current job, but want to get more than 3% annual raise for the coming March/Apirl, 90k ideally. Also, I don't think it makes sense to have no bonus. I am considering to ask my boss but not sure how to start with that. Do you mind to share how you asked your last employer?
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  #15  
Old 02-11-2019, 03:50 PM
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Yeah, totally agree. I am not hoping I can get 100k for current job, but want to get more than 3% annual raise for the coming March/Apirl, 90k ideally. Also, I don't think it makes sense to have no bonus. I am considering to ask my boss but not sure how to start with that. Do you mind to share how you asked your last employer?
Just brought it up in my review. It was a good review and I mentioned when asked if I had questions that I was way behind salary surveys. I was asked what I was using for reference. And at bonus time, my raise was a couple grand higher. Didn't really make a dent.

My warning is this: I was a little too free-wheeling with job hops. I hopped for less than I should have and didn't open up geographically for a long time. You should hold out for nothing less than the median of DWS and don't let people convince you for a penny less unless there is a substantial quality of life tradeoff (and vice versa).

You only get to pull that trigger so often.

Also, money matters but don't get into a job that isn't suited. But yes, don't let your comp get too stale either because it's harder and harder to command big jumps (using a recruiter they almost always know current comp).
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  #16  
Old 02-11-2019, 03:52 PM
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Also, if you have this discussion with DWS or another recruiter, they will suggest a new job because that's what they do. The advice can be very good but a little slanted, naturally.

It's great fun trying to get to that magic $100k but when you do, it's like "eh" and your paychecks a bit higher. Don't be fooled into thinking it's all sunshine and gumdrops.
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  #17  
Old 02-11-2019, 06:09 PM
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Originally Posted by mathmajor View Post
It's great fun trying to get to that magic $100k but when you do, it's like "eh" and your paychecks a bit higher. Don't be fooled into thinking it's all sunshine and gumdrops.


Broke that last year, and the excitement was short-lived. Now I want more because enough is never enough.
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  #18  
Old 02-11-2019, 07:59 PM
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You only get to pull that trigger so often.
I have a few friends who are testing that limit right now... the good news is that it's much higher than I thought.
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  #19  
Old 02-11-2019, 08:08 PM
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I have moved jobs 4 times in 5 years (tripled salary), but I am a pretty unique case.
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  #20  
Old 02-11-2019, 11:55 PM
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Originally Posted by ActuaryGo View Post
Hi guys,

Looking at DW survey I think I am underpaid. I am an ASA plus three FSA modules with 2 year experience, working in healthcare field, get near 80k and no bonus. It only hits the bottom of DW range. Does my current salary level look normal in your company? I know I don't have much experience, but the salary survey looks pretty high compared to mine. Also, does no bonus sound normal? We had bonus last year, but it's only 1k...

My company will talk about annual raise in March/April, I am thinking to talk with my boss to match market average, at least change my title which is currently associate actuarial analyst, the lowest level in my company.

Any information/suggestions on the negotiation would be appreciated.
(At least try to) leave. Don't waste your time thinking or asking around about whether you should try to make it work and get them to bump you up to that coveted 15th percentile. This is a no-brainer. GTFO of there ASAP.
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