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  #1  
Old 01-30-2013, 05:53 PM
Hodgey8806 Hodgey8806 is offline
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Default Do I need an internship to get an entry-level actuary job?

Hello all,

I'm doing my best to become an actuary. I graduate school in June this year, and by October--maybe beginning of 2014--I plan to have two actuarial exams completed and will be working on my third.

My question though begins: I would like to get an internship, but it seems that companies such as State Farm and AllState require that you be a junior or senior (with plans to return to school after summer). I am currently committed to an internship with a distribution center as an ops analyst. Technically, I've served my internship and have been working an addition 7 months with them--and I think they want to make an offer to me. However, my dream is to be an actuary (no particular designation--though pensions seem interesting).

So my question is, if I pass my first exam and since I have ops research experience in the field, do you think that might help obtain an entry level actuarial job?

*As a side, what type of companies (specific names would be great!) hire pension actuaries?

Thank you everyone!
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Old 01-30-2013, 05:53 PM
Hodgey8806 Hodgey8806 is offline
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Btw, I'll have my degree in mathematics with an emphasis in ops research.
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Old 01-30-2013, 07:34 PM
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Originally Posted by Hodgey8806 View Post
So my question is, if I pass my first exam and since I have ops research experience in the field, do you think that might help obtain an entry level actuarial job?

*As a side, what type of companies (specific names would be great!) hire pension actuaries?
It will be tough to get an actuarial job with only one exam. Especially if you are considering only pension related jobs. And pensions probably isn't a good choice anyway, according to most people on this forum.

But definitely try applying to jobs after you pass an exam or two. But it would be best if you aren't geographically limited.
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Old 01-30-2013, 07:39 PM
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dukelampard dukelampard is offline
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Quote:
Originally Posted by Hodgey8806 View Post
Hello all,

I'm doing my best to become an actuary. I graduate school in June this year, and by October--maybe beginning of 2014--I plan to have two actuarial exams completed and will be working on my third.

My question though begins: I would like to get an internship, but it seems that companies such as State Farm and AllState require that you be a junior or senior (with plans to return to school after summer). I am currently committed to an internship with a distribution center as an ops analyst. Technically, I've served my internship and have been working an addition 7 months with them--and I think they want to make an offer to me. However, my dream is to be an actuary (no particular designation--though pensions seem interesting).

So my question is, if I pass my first exam and since I have ops research experience in the field, do you think that might help obtain an entry level actuarial job?

*As a side, what type of companies (specific names would be great!) hire pension actuaries?

Thank you everyone!
You won't have any trouble getting a job in pensions with a couple exams and a decent gpa, it's the easiest field to get into. I have no idea why you'd want to limit yourself to pensions though.

How come you haven't passed an exam yet?
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Old 01-30-2013, 08:50 PM
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I doubt you could get an internship without any exams anyway so I wouldn't worry about it. I think your best bet is to just pass your exams while working and then apply. Start applying after two exams and if you have to take a third before you land a job be prepared to do that.
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Old 01-30-2013, 11:57 PM
Hodgey8806 Hodgey8806 is offline
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How come you haven't passed an exam yet?
That's a bit of a long story. I had to deal with some family issues (parents) the last few years. I didn't get to a school that had a decent stats program until two years ago...not that I couldn't get in (I did); I wasn't able to attend due to family issues.

I honestly didn't even know companies such as Actex existed except about the time I started at this school. I definitely have the probability skills to get the first exam (not cocky, just sure of myself and my understanding due to my commitment). And I don't worry to much about FM--looked it over, and I'm currently taking some extra econ courses to help develop my foundation until I finish exam P.

But, after this semester, it's off to the races! 2013 is going to be a year of accomplishment!
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Old 01-31-2013, 01:32 AM
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algebrat algebrat is offline
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operations research and analysis seems like a cool field with lots of jobs and reasonably interesting math, and the type of skills that apply to lots of other jobs. why switch out to actuary?
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Old 01-31-2013, 09:57 AM
Hodgey8806 Hodgey8806 is offline
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I guess you could say I'm a glutton for punishment. I like the idea of having to study to "prove" myself and move up the echelon. Also, I'd like to work in a more corporate setting. The math for operations research is cool, but it's not exactly what I want to do--if they pay is right, I suppose I could suffer .

I like the material, but I also want to study more in financial mathematics. I have always enjoyed statistics and economics...I just didn't know a proper degree for it. By the time I attended my current university, it was fastest just to get my mathematics degree with an emphasis in operations research. My plan, though, was still to get in to the actuarial field and use ops research to keep my options open in case the actuarial field was not planning to hire much.

In hindsight, I probably would have studied finance or econ with a stats minor. Or maybe a double major of econ and stats with a minor in comp sci. But, hindsight is always 20/20.

Thanks for your responses!
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Old 01-31-2013, 10:08 AM
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You're looking for an internship after you graduate? Why aren't you just looking for an entry-level job? Unless you're planning on grad school (unnecessary)

Yes, it will be tough without an exam - there are plenty of EL candidates out there with at least one exam. Perhaps you can look for other insurance positions - underwriting, etc., that will allow you to get some relevant experience, and hopefully move over to actuarial once you have some exams.
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Old 01-31-2013, 10:09 AM
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Quote:
Originally Posted by L. Mo View Post
You're looking for an internship after you graduate? Why aren't you just looking for an entry-level job? Unless you're planning on grad school (unnecessary)

Yes, it will be tough without an exam - there are plenty of EL candidates out there with at least one exam. Perhaps you can look for other insurance positions - underwriting, etc., that will allow you to get some relevant experience, and hopefully move over to actuarial once you have some exams.
I had an actuarial internship after graduation. I was pretty much looking for any kind of stepping stone that paid money at that point (both EL and intern). I guess I'm one of the rare ones.
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