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  #21  
Old 11-30-2018, 02:23 PM
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What's the tax rate? Or, what's the take-home rate?
For the company?
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  #22  
Old 11-30-2018, 02:30 PM
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For the company?
For you. Or is that the billable rate you were giving?
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  #23  
Old 11-30-2018, 02:30 PM
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Actuaries, by definition, should be business executives running insurance companies, not some cheap labor like data scientists
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  #24  
Old 11-30-2018, 03:10 PM
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For you. Or is that the billable rate you were giving?
Thats not how consultancies work.

My billable rate is what the company charges the client.

I get about 1/3rd of that as salary + bonus (depending on the usual performance factors).
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  #25  
Old 11-30-2018, 04:34 PM
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Haha indeed when you see that someone says a significant number of actuaries earn half a million a year.
I don't think that quote is that absurd. I've definitely worked with actuaries that get paid in that ballpark. Granted, they are all upper management and not individual contributors. But of course a recruiter would talk up the outlier success stories.
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  #26  
Old 11-30-2018, 04:50 PM
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I don't think that quote is that absurd. I've definitely worked with actuaries that get paid in that ballpark. Granted, they are all upper management and not individual contributors. But of course a recruiter would talk up the outlier success stories.
The only reason why I found it to be absurd is cause it said a "significant" number of actuaries make that much.
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Old 11-30-2018, 04:56 PM
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The only reason why I found it to be absurd is cause it said a "significant" number of actuaries make that much.
Sounds reasonable if that person worked at a big consulting shop. There may be a few hundred partners, the lowest paid of which are making $250k and the highest earning ones making a few million a year. When you see that many people making that much money at your company it makes it seem "significant."
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  #28  
Old 11-30-2018, 04:59 PM
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I could also see that attitude on the insurance side at a big insurer. VPs can make a lot of money and big companies have a lot of VPs.
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  #29  
Old 11-30-2018, 04:59 PM
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My favorite part:

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Mary Pat Campbell, a longtime actuary now doing insurance research, is seeing more ads pushing the benefits of actuaries to banks and hedge funds, she said. She has seen younger actuaries departing for sexier industries like data science, akin to the way actuaries left for tech firms back in the 1990s. Similar to the tech bubble then, she thinks it may be a passing phase.
"Actuaries have been doing data science for years," Mildenhall said, "but didn’t know to package it up as ‘data science.’ ”

I love it.
Data science is just a phase.
Shows how out of touch actuaries really are imo.

And what data scientists do is very different from what actuaries do.
This is career disruptor.
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  #30  
Old 11-30-2018, 05:13 PM
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I love it.
Data science is just a phase.
Shows how out of touch actuaries really are imo.
It happened to AI back in the 70s when it couldn't deliver (AI Winter). It's hot again now, though. Self-driving cars and all. Likewise there could be a DS Winter.
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