Actuarial Outpost
 
Go Back   Actuarial Outpost > Actuarial Discussion Forum > Careers - Employment
FlashChat Actuarial Discussion Preliminary Exams CAS/SOA Exams Cyberchat Around the World Suggestions

Search Actuarial Jobs by State @ DWSimpson.com:
AL AK AR AZ CA CO CT DE FL GA HI ID IL IN IA KS KY LA
ME MD MA MI MN MS MO MT NE NH NJ NM NY NV NC ND
OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI WY

Reply
 
Thread Tools Search this Thread Display Modes
  #1  
Old 05-27-2018, 12:12 AM
Sona Sona is offline
Member
SOA
 
Join Date: Jun 2014
College: University of Southern California, 2nd year
Posts: 61
Default Transitioning into P&C

Hi all, I've recently started working as an entry level retirement analyst for about 8 months now with 4 exams passed and I've recently been thinking about switching into a p&c role. I've been applying non-stop to entry level p&c positions for the last month or so all across the states but have no luck except for an insurance business analyst that recently reached out to me for an interview.

Here's my question, is it a good idea to work as a non-actuarial insurance analyst where I get exposed to some basic programming experience for a year or two before transitioning into an actuarial role or should I keep trying for an entry level actuarial P&C position? While the answer may seem very obvious at first, I've just been getting really desperate since I've had no internship experience in the past and have had little to no success getting any interviews with insurance actuarial roles. Any suggestions would be greatly appreciated, thanks!
Reply With Quote
  #2  
Old 05-27-2018, 07:54 AM
actuarialgenes's Avatar
actuarialgenes actuarialgenes is offline
Member
CAS
 
Join Date: Apr 2017
Location: New England
Studying for 8
Favorite beer: Wine
Posts: 92
Default

I think it’s somewhat surprising that you haven’t gotten any interviews with four exams. You say you’ve only been applying for a month though so I’d stick with it a little longer. Since you have a job right now, and you’ve only been in it less than a year I wouldn’t recommend leaving for an opportunity that is less than what you really want. If you switch to the business analyst position then you’ll probably get stuck in that spot for at least a year or two. You don’t want to get flagged as a job hopper. Best of luck.
Reply With Quote
  #3  
Old 05-27-2018, 12:39 PM
Westley Westley is offline
Member
 
Join Date: Nov 2001
Posts: 26,882
Default

Quote:
Originally Posted by Sona View Post
Here's my question, is it a good idea to work as a non-actuarial insurance analyst
I think this is a good idea in some cases, but you're applying for (more or less) EL positions in May and you're considering making a decision based on only a month, which I think is a bad idea. Keep applying over the summer and maybe revisit the decision in July/August IMO.

Retirement has a pretty negative long-term outlook, but is there any other reason to leave your current position? Absent some negative story about your position that matters in the short-term (bad boss, low pay, etc), I don't see "business analyst" as any closer to where you want to be.

ETA: Many young students don't understand how slowly the corporate wheels turn, even when they are actively looking for a position (never mind that you might be applying to companies that don't actually have a specific current need).

Last edited by Westley; 05-27-2018 at 12:43 PM..
Reply With Quote
  #4  
Old 05-27-2018, 04:53 PM
extrovertedactuary extrovertedactuary is offline
Member
CAS SOA
 
Join Date: May 2012
Location: West of Nowhere
College: State
Posts: 1,241
Default

Quote:
Originally Posted by Sona View Post
Hi all, I've recently started working as an entry level retirement analyst for about 8 months now with 4 exams passed and I've recently been thinking about switching into a p&c role. I've been applying non-stop to entry level p&c positions for the last month or so all across the states but have no luck except for an insurance business analyst that recently reached out to me for an interview.

Here's my question, is it a good idea to work as a non-actuarial insurance analyst where I get exposed to some basic programming experience for a year or two before transitioning into an actuarial role or should I keep trying for an entry level actuarial P&C position? While the answer may seem very obvious at first, I've just been getting really desperate since I've had no internship experience in the past and have had little to no success getting any interviews with insurance actuarial roles. Any suggestions would be greatly appreciated, thanks!
Quote:
Originally Posted by Westley View Post
I think this is a good idea in some cases, but you're applying for (more or less) EL positions in May and you're considering making a decision based on only a month, which I think is a bad idea. Keep applying over the summer and maybe revisit the decision in July/August IMO.

Retirement has a pretty negative long-term outlook, but is there any other reason to leave your current position? Absent some negative story about your position that matters in the short-term (bad boss, low pay, etc), I don't see "business analyst" as any closer to where you want to be.

ETA: Many young students don't understand how slowly the corporate wheels turn, even when they are actively looking for a position (never mind that you might be applying to companies that don't actually have a specific current need).


OP,

I was in the same spot as you once upon a time. I was able to switch after a year in pension actuarial work to P&C. Another colleague of mine was able to switch after just 7-8 months in pension.

Take a little more time and make the decisions now that will get you to that long-term goal. It is much easier to convince someone to hire you when it appears your goal is to JOIN their team and not LEAVE your current team.

Good luck!
Reply With Quote
  #5  
Old 05-28-2018, 11:24 AM
dukelampard's Avatar
dukelampard dukelampard is offline
Member
CAS
 
Join Date: Sep 2006
Studying for FCAS
Posts: 12,054
Default

Quote:
Originally Posted by extrovertedactuary View Post


OP,

I was in the same spot as you once upon a time. I was able to switch after a year in pension actuarial work to P&C. Another colleague of mine was able to switch after just 7-8 months in pension.

Take a little more time and make the decisions now that will get you to that long-term goal. It is much easier to convince someone to hire you when it appears your goal is to JOIN their team and not LEAVE your current team.

Good luck!
Listen to this guy.
Reply With Quote
  #6  
Old 05-28-2018, 12:12 PM
Colonel Smoothie's Avatar
Colonel Smoothie Colonel Smoothie is offline
Member
CAS
 
Join Date: Sep 2010
College: Jamba Juice University
Favorite beer: AO Amber Ale
Posts: 47,183
Default

Do what dukelampard would do
__________________
Recommended Readings for the EL Actuary || Recommended Readings for the EB Actuary

Quote:
Originally Posted by Wigmeister General View Post
Don't you even think about sending me your resume. I'll turn it into an origami boulder and return it to you.
Reply With Quote
  #7  
Old 05-28-2018, 12:37 PM
Marcie's Avatar
Marcie Marcie is online now
Member
CAS
 
Join Date: Feb 2015
Posts: 7,521
Default

Quote:
Originally Posted by Colonel Smoothie View Post
Do what dukelampard would do


Always switch doors.
Reply With Quote
  #8  
Old 05-28-2018, 04:17 PM
extrovertedactuary extrovertedactuary is offline
Member
CAS SOA
 
Join Date: May 2012
Location: West of Nowhere
College: State
Posts: 1,241
Default

Quote:
Originally Posted by dukelampard View Post
Listen to this guy.
DukeLampard, an inspiration to aspiring P&C actuaries all across the land!


Quote:
Originally Posted by Colonel Smoothie View Post
Do what dukelampard would do



OP,

DukeLampard is another actuary who was able to navigate the waters from pension to P&C. Feel free to PM me if you want me to help you with more specific questions about how I was able to transition.
Reply With Quote
  #9  
Old 05-28-2018, 05:13 PM
Sona Sona is offline
Member
SOA
 
Join Date: Jun 2014
College: University of Southern California, 2nd year
Posts: 61
Default

Hey guys, thanks a lot for all your advice and tips! Based on everyone's responses and a little bit of more research of the company I'm interviewing for I'm gonna stick with the decision of trying to look for a bit longer on an actuarial P&C role.

For those of you who were able to transition from pension to P&C, what things did you do while working in the pension field that you felt really helped with the transition process and through where were you able to find your first P&C job? One thing that concerns me right now is that although my current position has "actuarial" in name, most of the work we do are not exactly actuarial and don't require any programming experiences either. I've had a few actuarial recruiters who contacted me and told me that unfortunately they do not take entry level people so I've mostly been looking via linkedin/indeed with little success. Any further suggestions would be greatly appreciated!
Reply With Quote
  #10  
Old 05-28-2018, 05:30 PM
Westley Westley is offline
Member
 
Join Date: Nov 2001
Posts: 26,882
Default

Quote:
Originally Posted by Sona View Post
One thing that concerns me right now is that although my current position has "actuarial" in name, most of the work we do are not exactly actuarial and don't require any programming experiences either.
Can't say 100% unless I talk to you about what exactly you're doing, but will tell you that pension people always say this, and pretty much always are getting great experience that will help them later in P&C.

Mostly focus on learning Excel and Word, any more advanced data stuff (even Access is pretty good at that level, better if it's SAS, SQL, R, etc), and how to get things done in an office environment. None of the law and reg stuff will help you if you leave pensions, but it's part of the job so do what you have to do.
Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off


All times are GMT -4. The time now is 08:22 PM.


Powered by vBulletin®
Copyright ©2000 - 2018, Jelsoft Enterprises Ltd.
*PLEASE NOTE: Posts are not checked for accuracy, and do not
represent the views of the Actuarial Outpost or its sponsors.
Page generated in 0.30650 seconds with 9 queries