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

Browse Open Actuarial Jobs

Life  Health  Casualty  Pension  Entry Level  All Jobs  Salaries


Reply
 
Thread Tools Search this Thread Display Modes
  #1  
Old 12-28-2017, 01:01 PM
jas66Kent jas66Kent is offline
Member
SOA
 
Join Date: May 2012
Location: London
Favorite beer: Corona :)
Posts: 22,630
Default Possible move to Investment Banking

Have been given an opportunity to move to a bulge bracket IB, and I am mulling over the pros and cons.

1. Hours are worse (50-60/week)
2. Pay is about 2x as much of you include bonuses (50% more in base pay)
3. Role is not as technically oriented (this does bother me a bit)
4. Upward salary mobility would be higher but job security is probably lower than in Actuarial
5. I would probably not be coming back to Actuarial after this move most likely (this bothers me a bit as I spent a lot of time obtaining the actuarial qualification).
6. Same location so geographical issues are moot
7. Wife is more onboard with IB than Actuarial

So what say you AO?

The role is in research btw in the IB. But is client-facing (I would be dealing with hedge funds, asset managers etc..).
Reply With Quote
  #2  
Old 12-28-2017, 01:08 PM
Westley's Avatar
Westley Westley is offline
Member
 
Join Date: Nov 2001
Posts: 27,527
Default

Not a big fan of the research role, it's in decline generally, and new MiFID rules won't help. I wouldn't look at the current/past salaries as predictive.


3 "not as technically oriented" - similar to how Trump is "not as presidential" as Obama. I often see a job posting for "sell side equity research analyst" - all you need to do is pay attention to what's the first word, and what's the last, to know the priorities.
4 Job security - you've already worked as an actuary, not that hard to go back later if you want to, if that makes it better.
5 "sunk cost". Yes, there's an irrational/emotional component, but you'll get over that.


Honestly, wouldn't do it. JMO.
Reply With Quote
  #3  
Old 12-28-2017, 01:18 PM
nonlnear nonlnear is offline
Member
Non-Actuary
 
Join Date: May 2010
Favorite beer: Civil Society Fresh IPA
Posts: 29,851
Default

So.. this would most likely mean no PhD ever, right?
Reply With Quote
  #4  
Old 12-28-2017, 01:24 PM
kadsura kadsura is offline
Member
CAS
 
Join Date: Oct 2016
Studying for the heck of it
Posts: 613
Default

Quote:
Originally Posted by jas66Kent View Post
1. Hours are worse (50-60/week)
2. Pay is about 2x as much of you include bonuses (50% more in base pay)
3. Role is not as technically oriented (this does bother me a bit)
4. Upward salary mobility would be higher but job security is probably lower than in Actuarial
5. I would probably not be coming back to Actuarial after this move most likely (this bothers me a bit as I spent a lot of time obtaining the actuarial qualification).
6. Same location so geographical issues are moot
7. Wife is more onboard with IB than Actuarial
This is the deciding factor IMO.
Reply With Quote
  #5  
Old 12-28-2017, 01:27 PM
jas66Kent jas66Kent is offline
Member
SOA
 
Join Date: May 2012
Location: London
Favorite beer: Corona :)
Posts: 22,630
Default

Quote:
Originally Posted by nonlnear View Post
So.. this would most likely mean no PhD ever, right?
Nah. I can still finish it, only issue is that I would not be using most of my knowledge gained while pursuing the doctorate. This does bother me. The primary reason I am thinking of IB is the pay and future pay progression. I will however not do it if the pay is not as high/job security is lower than expected.
Reply With Quote
  #6  
Old 12-28-2017, 01:28 PM
jas66Kent jas66Kent is offline
Member
SOA
 
Join Date: May 2012
Location: London
Favorite beer: Corona :)
Posts: 22,630
Default

Quote:
Originally Posted by kadsura View Post
This is the deciding factor IMO.
Is a VP-level position (I am an AVP now) so she likes the sector and title change.
Reply With Quote
  #7  
Old 12-28-2017, 01:35 PM
nonlnear nonlnear is offline
Member
Non-Actuary
 
Join Date: May 2010
Favorite beer: Civil Society Fresh IPA
Posts: 29,851
Default

Quote:
Originally Posted by jas66Kent View Post
Nah. I can still finish it, only issue is that I would not be using most of my knowledge gained while pursuing the doctorate. This does bother me. The primary reason I am thinking of IB is the pay and future pay progression. I will however not do it if the pay is not as high/job security is lower than expected.
Good. It would have been a pity to give up on that given how much you wanted it.
Reply With Quote
  #8  
Old 12-28-2017, 01:35 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: 47,815
Default

Can you roll over your AO posts into your Wall Street Oasis account?
__________________
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
  #9  
Old 12-28-2017, 01:39 PM
jas66Kent jas66Kent is offline
Member
SOA
 
Join Date: May 2012
Location: London
Favorite beer: Corona :)
Posts: 22,630
Default

Quote:
Originally Posted by Colonel Smoothie View Post
Can you roll over your AO posts into your Wall Street Oasis account?
Ok, this was pretty funny.
Reply With Quote
  #10  
Old 12-28-2017, 02:09 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: 47,815
Default

I'd say do it. The worst case scenario is that you go back to actuarial.
__________________
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
Reply

Tags
jas + ib = memes

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 12:41 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 0.23191 seconds with 9 queries