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



Reply
 
Thread Tools Display Modes
  #11  
Old 01-11-2018, 02:10 AM
whoanonstop's Avatar
whoanonstop whoanonstop is offline
Member
Non-Actuary
 
Join Date: Aug 2013
Location: Los Angeles, CA
Studying for Spark / Scala
College: College of William and Mary
Favorite beer: Orange Juice
Posts: 5,649
Blog Entries: 1
Default

Quote:
Originally Posted by kingofants View Post
An extra 2 grand doesn't make me feel all that bad.

Except since the current position that I'm involved in is a coding position, so the difference between a PhD and Bachelor's offer may be significant.
If all you're comparing is monetary gain in an actuarial world, then there isn't that much reason to go for a graduate degree (time cost).

However, knowledge is valuable to some people, even if it doesn't transition directly to $$$.

-Riley
__________________
It is impossible to have a professional forum where the majority of your professionals are anonymous.

Map of Actuarial Hiring Companies
Reply With Quote
  #12  
Old 01-11-2018, 03:18 AM
extrovertedactuary extrovertedactuary is offline
Member
CAS SOA
 
Join Date: May 2012
Location: West of Nowhere
College: State
Posts: 1,160
Default

Quote:
Originally Posted by whoanonstop View Post
Not all PhDs are the same, but it probably doesn't matter for most actuarial jobs.

-Riley
Reply With Quote
  #13  
Old 01-11-2018, 08:17 AM
actuarialgenes's Avatar
actuarialgenes actuarialgenes is offline
Member
CAS
 
Join Date: Apr 2017
Location: New England
Studying for 6-US
Favorite beer: Wine
Posts: 65
Default

I’m fairly certain that my employer would give the same offer to all three candidates. It’s my understanding that for the actuarial student program the formula is basically: salary = market base + exam increases + differentiation (rare). The “differentiation” piece is sort of like a preemptive raise of $1-2k for the top one or two summer interns that the company really wants to retain full time.
Reply With Quote
  #14  
Old 01-11-2018, 10:18 AM
ronaldy27's Avatar
ronaldy27 ronaldy27 is offline
Member
CAS
 
Join Date: Jan 2012
Studying for many many stuffs
Posts: 1,778
Default

No, not everyone gets the same pay. As a matter of fact, (at least in actuarial), some companies make different offers to even interns. I interned for a large company in NYC and bc i had more exams, I was offered significantly more than my friend who interned with me the same summer.

$35/hr vs $20 or $25 (I forgot). EIther way, it's pretty significant if you ask me
__________________
Spoiler - for size:



Reply With Quote
  #15  
Old 01-11-2018, 10:48 AM
Woodrow's Avatar
Woodrow Woodrow is offline
Member
SOA
 
Join Date: Oct 2002
Posts: 5,957
Default

Quote:
Originally Posted by royevans View Post
I have a question. Would a doctorate who specialized in hyperbolic geometry make more than one that specialized in something like applied or computational maths... or do they value all phd's the same?
They would offer more money to the candidate that effectively sells themselves and their skills and convinces the employer they will be valuable.
Reply With Quote
  #16  
Old 01-11-2018, 11:11 AM
Dr T Non-Fan Dr T Non-Fan is offline
Member
SOA AAA
 
Join Date: Sep 2001
Location: Just outside of Nowhere
Posts: 88,992
Default

At my first job, my pay was adjusted about 6 months after to make it similar to those with my higher degree.

Shorter version: not all companies are the same, and any anecdotal evidence gathered here is useless for the specific company you're interviewing with.
__________________
DTNF's Basic Philosophy Regarding Posting: There's no emoticon for what I'm feeling! -- Jeff Albertson (CBG)
DTNF's Trademarked Standard Career Advice: "pass some exams and get back to us."
DTNF's Major advice: "Doesn't matter. Choose major that helps you with goal of Career Advice."
DTNF's Résumé Advice: Have a good and interesting answer to every item on it for the interviews.
DTNF's Law of Job Offers: You not only have to qualify for the position, but you also have to be the best candidate available for the offer.
DTNF's Work Philosophy: I am actuary. Please insert data. -- Actuary Actuarying Rodriguez.
Twitches' Advice to Crazy Women: Please just go buy your 30 cats already.
Reply With Quote
  #17  
Old 01-11-2018, 02:07 PM
royevans royevans is offline
Member
SOA
 
Join Date: Jul 2017
Posts: 189
Default

Quote:
Originally Posted by royevans View Post
I have a question. Would a doctorate who specialized in hyperbolic geometry make more than one that specialized in something like applied or computational maths... or do they value all phd's the same?
ifmp
Reply With Quote
  #18  
Old 01-11-2018, 02:12 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: 36,601
Default

Quote:
Originally Posted by Dr T Non-Fan View Post
Shorter version: not all companies are the same, and any anecdotal evidence gathered here is useless for the specific company you're interviewing with.

As usual, DTNF nails it.
__________________
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 Oct 13, 2017.

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:
Quote:
Originally Posted by Bro View Post
I recommend you get perspective.
Quote:
Originally Posted by Enough Exams Already View Post
Dude, you can't fail a personality test. It just isn't that kind of test.
Quote:
Originally Posted by Locrian View Post
I'm disappointed I don't get to do both.
Reply With Quote
  #19  
Old 01-11-2018, 04:07 PM
nin01001 nin01001 is offline
Member
 
Join Date: Jul 2011
Posts: 171
Default

People coming straight out of college with the same degrees can get different offers where I am, there's a range but it's not a set value.
Reply With Quote
  #20  
Old 01-12-2018, 01:12 AM
whoanonstop's Avatar
whoanonstop whoanonstop is offline
Member
Non-Actuary
 
Join Date: Aug 2013
Location: Los Angeles, CA
Studying for Spark / Scala
College: College of William and Mary
Favorite beer: Orange Juice
Posts: 5,649
Blog Entries: 1
Default

Quote:
Originally Posted by actuarialgenes View Post
The “differentiation” piece is sort of like a preemptive raise of $1-2k for the top one or two summer interns that the company really wants to retain full time.
Oh damn throwing down that sweet ca$h to keep the talent in house!

-Riley
__________________
It is impossible to have a professional forum where the majority of your professionals are anonymous.

Map of Actuarial Hiring Companies
Reply With Quote
Reply

Thread Tools
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 04:44 AM.


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 0.33597 seconds with 9 queries