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Old 02-14-2017, 11:55 PM
R3d Anonymous R3d Anonymous is online now
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Default Why is there a P&C circle-jerk on Actuarial Outpost?

I hear "le p&c" mentioned a lot in posts. When I was talking about taking some CAS exams if I managed to get done with preliminaries early, someone said, "You made the right choice!" Another person when we were talking about the issue of too many exams, said, "You may not want to go past Exam C/4 as it may limit you to specific industries. Better advice: take as many CAS exams as you can because le p&c." And in general you see this advice thrown around a lot.

So I'm curious - where does this come from and what is the meaning behind it? Why does a portion of the population here assert that CAS is *the* right way to go.
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Old 02-15-2017, 03:33 AM
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I hear "le p&c" mentioned a lot in posts. When I was talking about taking some CAS exams if I managed to get done with preliminaries early, someone said, "You made the right choice!" Another person when we were talking about the issue of too many exams, said, "You may not want to go past Exam C/4 as it may limit you to specific industries. Better advice: take as many CAS exams as you can because le p&c." And in general you see this advice thrown around a lot.

So I'm curious - where does this come from and what is the meaning behind it? Why does a portion of the population here assert that CAS is *the* right way to go.
The P&C folk are more vocal in trying to justify their career decisions.
I'll leave the reason why as an exercise for the reader...
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But the mosquitoes in New Brunswick Bay of Fundy did mess with my understanding of some limited loss functions
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Excel gave me #VALUE.

Edit: Nevermind, I was linking a sumif and didn't open the linked spreadsheet. It is now giving me #N/A.
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Old 02-15-2017, 04:39 AM
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The P&C folk are more vocal in trying to justify their career decisions.
I'll leave the reason why as an exercise for the reader...
If you mean to imply that it in fact may be the result of P&C folks feeling like they actually made the wrong choice and that is why they are being vocal about it, that's an interesting hypothesis. But I don't see why that would be the case. Of course, I have no industry experience so far so I don't know the ins and outs of what the differences are, but concerning overall features, from what I've heard, P&C pays a little better, the exam process is considered more rigorous, it's more statistics-based, and in general, their work is seen as a little "cooler" and dynamic - working with property or auto insurance and being more generally concerned with short-term analysis as opposed to life insurance or retirement where there's more concern over long-term issues.

However, these aren't exactly earth-shattering differences, so I'm not convinced that these are the reasons why there is a P&C circle-jerk. On the other hand, I'm also not aware of any area in which going the CAS route is inferior compared to the SOA one, so I don't see why those folks would be insecure either.
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Old 02-15-2017, 05:04 AM
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I don't really care anymore. As I am going into Reinsurance I am now Top Dog.
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Old 02-15-2017, 06:14 AM
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If you mean to imply that it in fact may be the result of P&C folks feeling like they actually made the wrong choice and that is why they are being vocal about it, that's an interesting hypothesis. But I don't see why that would be the case. Of course, I have no industry experience so far so I don't know the ins and outs of what the differences are, but concerning overall features, from what I've heard, P&C pays a little better, the exam process is considered more rigorous, it's more statistics-based, and in general, their work is seen as a little "cooler" and dynamic - working with property or auto insurance and being more generally concerned with short-term analysis as opposed to life insurance or retirement where there's more concern over long-term issues.

However, these aren't exactly earth-shattering differences, so I'm not convinced that these are the reasons why there is a P&C circle-jerk. On the other hand, I'm also not aware of any area in which going the CAS route is inferior compared to the SOA one, so I don't see why those folks would be insecure either.

There are interesting jobs in both, and dull jobs in both. I don't think anyone can say one is definitively better than the other. Same for direct/reinsurance/consultancy. It's the job you're doing that matters, not who you do it for.

I've always thought the P&C circle-jerk was down to there not being that many posters in Careers, and you only really need 3 or 4 loud people to give that impression.
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But the mosquitoes in New Brunswick Bay of Fundy did mess with my understanding of some limited loss functions
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Excel gave me #VALUE.

Edit: Nevermind, I was linking a sumif and didn't open the linked spreadsheet. It is now giving me #N/A.
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Old 02-15-2017, 07:36 AM
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Delete this.
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Old 02-15-2017, 08:19 AM
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Old 02-15-2017, 09:12 AM
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I don't really care anymore. As I am going into Reinsurance I am now Top Dog.
Since we are all actuaries here, I'll assume we have a myopic measure of success, namely: $$$$.

Based on that, specialty doesn't matter all the much. Neither does reinsurance vs. primary. The richest actuaries I've met or been acquainted with were consultants who either built their own practice or an division of a practice. Second up would be those who became C-suites. Probably not too surprising if you think about it.

But if this was all about how to find the specialty that might have a $10-20k salary differential ON AVERAGE then by all means don't let me spoil your fun.
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Old 02-15-2017, 09:30 AM
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Delete this.
Why?
While the choice of words probably doesn't fit with the professional forum that this thread's now been moved to, it's a legitimate question. New people to this board will see a definite pro-P&C bias, is there any basis to this, or is it just a few posters shouting about how great it is?
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Originally Posted by UFActuary View Post
But the mosquitoes in New Brunswick Bay of Fundy did mess with my understanding of some limited loss functions
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Originally Posted by King of the North View Post
Excel gave me #VALUE.

Edit: Nevermind, I was linking a sumif and didn't open the linked spreadsheet. It is now giving me #N/A.
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Old 02-15-2017, 09:32 AM
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