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
  #61  
Old 12-04-2017, 01:36 PM
ThereIsNoSpoon ThereIsNoSpoon is offline
Member
CAS SOA
 
Join Date: Sep 2014
Studying for PA,FAP
College: When the smog clears, _ _ _ _
Favorite beer: PABST! BLUE RIBBON!
Posts: 444
Default

Quote:
Originally Posted by Colonel Smoothie View Post
I guess one big difference between school and work is that in school (undergrad), pretty much anything you work on has already been solved and has an answer - and they have to be, otherwise assignments would be ungradeable (although maybe once in a while you get exposed to an unsolved problem just for kicks).

At work, you're in the business of solving problems that have not been solved before and designing new algorithms. You are almost never given an assignment that someone has already figured out, and what happens is that management will ask you how much you think you can improve things with a new technique, which will be the benchmark that you're evaluated against, without knowing whether it can be done for sure. As you get more experienced, you'll get a better feel on whether a potential project is feasible.

I guess in that respect, that's something that actuarial exams fail to capture. Almost every problem on an exam has a solution or model answer that you're being graded against, so you know for sure that there's a solution that the graders are looking for and that it can be done, and that if you keep trying you'll figure it out. That won't always be the case at work.
Got my 20/20 hindsight kicking in, but I feel like that's why co-op programs work fantastically well with the actuarial science major (which is why there's the occasional "what if I did accept Waterloo" in my head).
__________________
Spoiler:

------------------------------------------
P FM MFE C MLC VEE Economics VEE Applied Statistics VEE Corporate Finance PA FAP

Want to connect on LinkedIn? PM me!
Reply With Quote
  #62  
Old 12-04-2017, 02:22 PM
nonlnear nonlnear is offline
Member
Non-Actuary
 
Join Date: May 2010
Favorite beer: Civil Society Fresh IPA
Posts: 29,546
Default

Quote:
Originally Posted by Colonel Smoothie View Post
I guess one big difference between school and work is that in school (undergrad), pretty much anything you work on has already been solved and has an answer - and they have to be, otherwise assignments would be ungradeable (although maybe once in a while you get exposed to an unsolved problem just for kicks).

At work, you're in the business of solving problems that have not been solved before and designing new algorithms. You are almost never given an assignment that someone has already figured out, and what happens is that management will ask you how much you think you can improve things with a new technique, which will be the benchmark that you're evaluated against, without knowing whether it can be done for sure. As you get more experienced, you'll get a better feel on whether a potential project is feasible.

I guess in that respect, that's something that actuarial exams fail to capture. Almost every problem on an exam has a solution or model answer that you're being graded against, so you know for sure that there's a solution that the graders are looking for and that it can be done, and that if you keep trying you'll figure it out. That won't always be the case at work.
You have a very generous view of corporate work.
Reply With Quote
  #63  
Old 12-04-2017, 09:45 PM
snikelfritz's Avatar
snikelfritz snikelfritz is offline
Member
 
Join Date: Jun 2011
Location: Yep
Studying for Nope
Favorite beer: Yep
Posts: 27,409
Default

Quote:
Originally Posted by Colonel Smoothie View Post
I guess one big difference between school and work is that in school (undergrad), pretty much anything you work on has already been solved and has an answer - and they have to be, otherwise assignments would be ungradeable (although maybe once in a while you get exposed to an unsolved problem just for kicks).

At work, you're in the business of solving problems that have not been solved before and designing new algorithms. You are almost never given an assignment that someone has already figured out, and what happens is that management will ask you how much you think you can improve things with a new technique, which will be the benchmark that you're evaluated against, without knowing whether it can be done for sure. As you get more experienced, you'll get a better feel on whether a potential project is feasible.

I guess in that respect, that's something that actuarial exams fail to capture. Almost every problem on an exam has a solution or model answer that you're being graded against, so you know for sure that there's a solution that the graders are looking for and that it can be done, and that if you keep trying you'll figure it out. That won't always be the case at work.
The answer is what management has already decided they want.....
__________________
The universe is a cruel uncaring void, the key to being happy isn't the search for meaning, it's to just keep yourself busy with unimportant nonsense and eventually, you'll be dead.
Reply With Quote
  #64  
Old 12-04-2017, 09:46 PM
snikelfritz's Avatar
snikelfritz snikelfritz is offline
Member
 
Join Date: Jun 2011
Location: Yep
Studying for Nope
Favorite beer: Yep
Posts: 27,409
Default

Quote:
Originally Posted by Life View Post
For me, the biggest difference between school and actuary is your say in who you work with. I get to do homework with my smart and motivated friends. At work, your coworkers or boss could be annoying or stupid, and you have no say but to work with them.
Why group projects are the only useful part of school IMO. Learning to deal with the useless people is a skill that's useful everywhere.
__________________
The universe is a cruel uncaring void, the key to being happy isn't the search for meaning, it's to just keep yourself busy with unimportant nonsense and eventually, you'll be dead.
Reply With Quote
  #65  
Old 12-05-2017, 10:20 AM
pinguino's Avatar
pinguino pinguino is offline
Member
CAS
 
Join Date: Sep 2014
Posts: 900
Default

Quote:
Originally Posted by Life View Post
For me, the biggest difference between school and actuary is your say in who you work with. I get to do homework with my smart and motivated friends. At work, your coworkers or boss could be annoying or stupid, and you have no say but to work with them.
You could still choose to leave the team. But that should be your last option.
Reply With Quote
  #66  
Old 12-05-2017, 11:32 AM
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: 47,316
Default

Quote:
Originally Posted by Life View Post
For me, the biggest difference between school and actuary is your say in who you work with. I get to do homework with my smart and motivated friends. At work, your coworkers or boss could be annoying or stupid, and you have no say but to work with them.
Quote:
Originally Posted by snikelfritz View Post
Why group projects are the only useful part of school IMO. Learning to deal with the useless people is a skill that's useful everywhere.


Work for a company that doesn't hire stupid people imo, or is at least quick to get rid of them.
__________________
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
  #67  
Old 12-05-2017, 11:33 AM
Abelian Grape's Avatar
Abelian Grape Abelian Grape is offline
Meme-ber                         Meme-ber
CAS
 
Join Date: Jul 2014
Posts: 41,077
Default

Quote:
Originally Posted by Colonel Smoothie View Post
Work for a company that doesn't hire stupid people imo.


You don't want to be a big fish in a small pond if you're not going to be the shark anytime soon imo.
Reply With Quote
  #68  
Old 12-05-2017, 11:38 AM
The_Polymath The_Polymath is offline
Member
CAS SOA
 
Join Date: Jun 2016
Posts: 380
Default

Considering most of you are still in the donkey pen, I don't think being a shark in such a pen really matters.
Reply With Quote
  #69  
Old 01-11-2018, 01:10 PM
JMO's Avatar
JMO JMO is offline
Carol Marler
Non-Actuary
 
Join Date: Sep 2001
Location: Back home again in Indiana
Studying for Nothing actuarial.
Posts: 37,326
Default

Quote:
Originally Posted by kmari01 View Post
Does anyone have any advice on how to succeed in the job in their first year? for some reason i am nervous and scared of messing up/not doing a good job/not learning things quickly enough...
Free advice, take it for what it's worth.
1. Calm down. Practically nobody expects much from a first year actuarial student.
2. Pay attention to what people tell you. If you don't understand what they are saying, ask.
3. Check your work. Check it again.
4. Study hard, and look for connections between study materials and what you are actually doing. You may not find any, but looking is the whole point.
__________________
Carol Marler, "Just My Opinion"

Pluto is no longer a planet and I am no longer an actuary. Please take my opinions as non-actuarial.


My latest favorite quotes, updated Apr 5, 2018.

Spoiler:
I should keep these four permanently.
Quote:
Originally Posted by rekrap View Post
JMO is right
Quote:
Originally Posted by campbell View Post
I agree with JMO.
Quote:
Originally Posted by Westley View Post
And def agree w/ JMO.
Quote:
Originally Posted by MG View Post
This. And everything else JMO wrote.
And this all purpose permanent quote:
Quote:
Originally Posted by Dr T Non-Fan View Post
Yup, it is always someone else's fault.
MORE:
All purpose response for careers forum:
Quote:
Originally Posted by DoctorNo View Post
Depends upon the employer and the situation.
Quote:
Originally Posted by Sredni Vashtar View Post
I feel like ERM is 90% buzzwords, and that the underlying agenda is to make sure at least one of your Corporate Officers is not dumb.
Reply With Quote
  #70  
Old 01-11-2018, 01:15 PM
Billybobobob Billybobobob is offline
SOA
 
Join Date: Jul 2017
Posts: 21
Default

Quote:
Originally Posted by kmari01 View Post
Does anyone have any advice on how to succeed in the job in their first year? for some reason i am nervous and scared of messing up/not doing a good job/not learning things quickly enough...
One thing that I always heard was to ask a lot of questions. But I always had a hard time with that because I often felt like I didn't know what I didn't know, especially in my first year. One thing that has really helped me after starting a new role this summer is if I didn't have any questions I would at least summarize what my manager just told me. So after they would tell me about a project I would say, "You want me to do abc because of xyz, right?". To me, this helped my manager understand what I comprehended and maybe help them recognize any gaps in my understanding. Ideally, you'll have a manager who will ask better questions than, "Do you understand?"/"Does that make sense?"/etc. to check your understanding, but if they don't, then answer by saying what you understand, not just a one word answer.
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 09:04 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 0.25422 seconds with 9 queries