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  #21  
Old 09-18-2018, 11:31 AM
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Canadian numbers if anyone is interested

FCAS VP, 10 - 20 experience, base 150,000 - 200,000, bonus 30% - 40%
FCAS VP, 20+ experience, base 210,000+, bonus 40%+

To get US numbers, think them in terms of US dollars and multiply by 1.1 lol
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Last edited by trueblade; 09-18-2018 at 11:36 AM..
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  #22  
Old 09-18-2018, 11:32 AM
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Quote:
Originally Posted by MooBeay View Post
Am I the only one that thought the pay seemed low?
I assume that the salary was given in US dollars, not Canadian dollars.
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  #23  
Old 09-18-2018, 11:36 AM
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Quote:
Originally Posted by jas66Kent View Post
I agree that a 30% target bonus is absurd.

It is more than likely they are simply giving you the top of the range to try to sell you the role.

15% is usually about right for a VP position as a target.
I would say 15% is low at that level. I had a 20-25% target while at a carrier in roles that I would consider one level below a traditional VP type role.
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  #24  
Old 09-18-2018, 11:42 AM
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Originally Posted by Colonel Smoothie View Post
Yeah, there's really no harm in interviewing. So what if they offer you $300k+ like the recruiter said? Would you take it? Sounds like good money to me (unless you're already making more).

I'm not really shocked at the pay, it's a bit higher than what I was expecting but not out of the ballpark. VP is such a vague title it could mean anything really. I once worked at a place where the Chief Actuary wasn't even a VP yet (he eventually got it after a year), who as managing a department of 30 and was probably making more than that.

On the other hand, there are some companies that pass those titles out like candy where the VPs aren't even making $100k.

When I think of a stereotypical VP however, I do think at least $200k, and probably managing managers who have their own direct reports.
Its interesting you say that because even though titles generally vary company by company, based on my (limited) experience, VPs in actuarial departments have been pretty consistent across companies. Its either one level below SVP, or just directly below Chief Actuary if there are no SVPs.

In the absence of SVP, VPs are the senior most people leading the LOB or functional areas like Corporate, Pricing, Valuation etc.
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  #25  
Old 09-18-2018, 11:44 AM
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My company has EVP (Above SVP), I'm wondering how much they get paid
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  #26  
Old 09-18-2018, 11:44 AM
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But holy ****, 325k is a lot of money.
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  #27  
Old 09-18-2018, 11:49 AM
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Quote:
Originally Posted by Tom View Post
Most of the positions that come to DWS will say “compensation up to $X, based on experience.” I have never seen a job that had a set salary, because there are so many variables. The only exception might be a management job with a specific skill set that is very hard to find, but even then the salary would be negotiable.

As far as the low cost of living area, there’s not as much variation in compensation as you’d think at the higher levels. This is mainly because these companies compete for talent on a national level, and often have to lure big city talent out to their low supply location. The low COL is then used as a perk for the new hire, as oppose to an opportunity to save the employer some cash.

If you want to email me more info about yourself and/or the role, I can look into it for you and give you my tailored feedback.

Best of luck with the job hunt!

-Tom

tom.troceen@dwsimpson.com
This makes sense actually. The recruiter mentioned they're having a lot of trouble getting people move to their city. I assume on a scale, it would be easiest to get entry level talent since entry level folks are more flexible and open to remote locations, plus the high supply. And it would be hardest to fill the senior or executive level positions in smaller cities.
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  #28  
Old 09-18-2018, 11:49 AM
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I think 30% target sounds about right, but what does "target" mean? I was at a company (like Quasi above) where my target was higher than that, but the whole year had to go perfect to get it. Target was 35% at the end, I never got above 25%. Important to know that going in, ask them what actual payouts were last year and over the last five years, throughout the company and actuarial in particular (the place I describe above, they told me that the prior year they had paid out full target bonuses for the first time ever).

I had a friend where the "target" bonus was the expected amount and if the whole company hit their goals, then they would pay out 100% in total to the employees (but some would get more and some less), so it wasn't unheard of to get well above "target".

OP, I'd move forward with a phone interview (that's not much effort) and if it goes well, re-visit the comp question before you go forward. At that point, the company is interested enough that the recruiter is going to pay attention. Right now, he probably doesn't really even know what the company is planning - that's pretty normal for recruiters to just throw out a number that seems reasonable based on what they know, it's a best guess.
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  #29  
Old 09-18-2018, 11:52 AM
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30% target does not sound high to me.
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  #30  
Old 09-18-2018, 11:52 AM
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A number of factors will come into play. Company, location, and responsibilities will influence the figures. If they are in a low COL in an undesirable location they might have problems attracting and retaining staff and are hoping $$$$ will make it stick. I have seen various levels of title and pay in my career and it has never been consistent company to company.
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