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Actuarial Jobs by State

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  #11  
Old 05-13-2018, 07:07 PM
act_123 act_123 is online now
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Originally Posted by BruteForce View Post
Wait, so a government job pays "significantly more" than your current job? I thought government jobs paid below market usually (and try to make up for it in the benefits). How underpaid are you??
When I was entry at government it was a lot lower than any entry job. However, each state has their own pay scale. I have heard some states pay pretty well.
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  #12  
Old 05-13-2018, 07:22 PM
Aspiring Act Aspiring Act is offline
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Government jobs come with a nice DB plan.
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  #13  
Old 05-13-2018, 07:56 PM
act_123 act_123 is online now
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Government jobs come with a nice DB plan.
Not everywhere. They are removing them. When I got hired eight years ago they required three precent contribution yearly to get the defined benefit plan. Within a year it was ten percent contribution or 401k for new emoloyees. I think after that it was just 401k. Basically, the first thing the union gives up in negotiating was the retirement plan for people who get hired in the future.
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  #14  
Old 05-13-2018, 08:08 PM
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Originally Posted by BruteForce View Post
Wait, so a government job pays "significantly more" than your current job? I thought government jobs paid below market usually (and try to make up for it in the benefits). How underpaid are you??
If anything, I am slightly overpaid currently for my job title and location. This government job I'm rejecting pays more than that with salary alone. It is definitely an outlier of all the government jobs I've seen.

The main reason I'm rejecting it is because I would lose on a lot of time due to public transportation, and it is a much more stressful job than the one I'll be taking. There aren't too many people that I know who would be qualified for this position I'm rejecting, and I hope they find someone good to fill the position, but it's not going to be me.
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  #15  
Old 05-13-2018, 08:15 PM
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Originally Posted by clarinetist View Post
If anything, I am slightly overpaid currently for my job title and location. This government job I'm rejecting pays more than that with salary alone. It is definitely an outlier of all the government jobs I've seen.

The main reason I'm rejecting it is because I would lose on a lot of time due to public transportation, and it is a much more stressful job than the one I'll be taking. There aren't too many people that I know who would be qualified for this position I'm rejecting, and I hope they find someone good to fill the position, but it's not going to be me.
Not wanting to commute is fine. People turn down jobs all the time for that reason. A lot of people quit when their companies move from one area of town to another because they don't like the commute.
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  #16  
Old 05-13-2018, 09:41 PM
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When I decided to leave academia for the actuarial world, I had one exam and no experience, so I kept going through tenure-track interviews.

I ended up getting an offer from Milliman, and then turned down an offer from a small Franciscan college in the northeast, where I would have been half of the math department. It was an appealing offer for a number of reasons, but I was pretty excited to try actuarial work and also to get back to Denver.

When I turned them down, they called me back the next day and raised their offer by $10,000. I felt really guilty; fortunately I'd already accepted the Milliman offer, so the awkwardness wasn't really actionable.

They have three professors and four adjuncts now, so I'm glad that they found something that clearly benefited them, too.
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  #17  
Old 05-13-2018, 11:09 PM
hjacjswo hjacjswo is offline
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When I was entry at government it was a lot lower than any entry job. However, each state has their own pay scale. I have heard some states pay pretty well.
Or doesnt even need to be a state job
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  #18  
Old 05-14-2018, 12:53 AM
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"Thank you for the generous offer. At this time I have accepted a position with another company. Best wishes."
+1

If they follow up, you can share more. But share as little as possible. You don't know how they will take the info you give them. Might make them think differently about you.
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  #19  
Old 05-14-2018, 12:41 PM
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Originally Posted by Colonel Smoothie View Post
Not wanting to commute is fine. People turn down jobs all the time for that reason. A lot of people quit when their companies move from one area of town to another because they don't like the commute.
Kind of weak unless their office moved in the middle of the interview process. Why take the interview and make them go out of their way to make a more than generous offer if you're going to turn it down because a commute you should have known you wouldn't be willing to accept in the first place?
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  #20  
Old 05-14-2018, 12:43 PM
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Not everywhere. They are removing them. When I got hired eight years ago they required three precent contribution yearly to get the defined benefit plan. Within a year it was ten percent contribution or 401k for new emoloyees. I think after that it was just 401k. Basically, the first thing the union gives up in negotiating was the retirement plan for people who get hired in the future.
Is it common for a DB plan to require a contribution? How does that work?
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