career advice

[plim5]

Hello

I want to see if anyone is willing to answer my questions about being an actuary.

Right now I have no actuarial work experience. How can I prepare myself and make myself have a better chance of finding job aside from doing well at interviews and writing a good resume? What do I need to work on? I have passed P and FM and planning on taking MFE. If I pass MFE I will stop there until I find a job. Should I try to develop my computer skills? Take classes at a community college that I was suppose to take as a undergrad but didn't take? Make sure that I am educated with world news or business news?

Also what is needed to succeed in the actuarial profession? What skills are needed? In my opinion, to be an actuary is mostly about passing exams. what other skills are important to develop to become a good actuary?

[Vorian Atreides]

Pass exams . . . plain and simple. Don't stop at MFE unless your finances can't sustain additional attempts (which is one of a very short list of reasons to not continue).

Make sure that you're educated with solid soft skills and computer knowledge. If you need to satisfy VEE requirements, take the necessary courses (there are accredited on-line courses that are pretty reasonable)--these are a pain to take care of after starting full time employment.

Otherwise, consider taking a job anywhere in the industry. Becoming a "good actuary" takes considerable OTJ training/experience.

And good luck!

[plim5]

thanks vorian atreides ( I hope I spelled it right)
I appreciate you taking the time to answer my questions.
Anyway, I read that since I have no actuarial experience that it may not be good to pass more than 3 exams. I believe I read that one time at www.beancatuary.com. The reason is because since you pass more exams, companies feel obligated to pay you more for a starting salary. And companies don't want to risk paying a entry level actuary a higher than average salary. Is this true? Also how do I start completing the VEE requirement? thanks

[Darkness Falls]

Originally Posted by plim5

Anyway, I read that since I have no actuarial experience that it may not be good to pass more than 3 exams. I believe I read that one time at www.beancatuary.com. The reason is because since you pass more exams, companies feel obligated to pay you more for a starting salary. And companies don't want to risk paying a entry level actuary a higher than average salary. Is this true?

False

Lots of people with an exam/experience mismatch get hired without any problems.

[plim5]

so passing more exams, that is like 4 exams, would be more attractive to the hirer than a person who passed 2 or 3 exams even if both have no actuarial work experience and looking for a entry level job? would it be wise to take non joint exams too? for example MLC or 3F?

[_BullDog_]

Originally Posted by plim5

thanks vorian atreides ( I hope I spelled it right)
I appreciate you taking the time to answer my questions.
Anyway, I read that since I have no actuarial experience that it may not be good to pass more than 3 exams. I believe I read that one time at www.beancatuary.com. The reason is because since you pass more exams, companies feel obligated to pay you more for a starting salary. And companies don't want to risk paying a entry level actuary a higher than average salary. Is this true? Also how do I start completing the VEE requirement? thanks

Remember in this job market there are a lot more applicants for each position. Which means even if you have 3 exams for an entry level position that won't be as unique as it was a couple years ago. Just don't expect to make the same a someone with 4 exams and a few years experience.

[_BullDog_]

Originally Posted by plim5

so passing more exams, that is like 4 exams, would be more attractive to the hirer than a person who passed 2 or 3 exams even if both have no actuarial work experience and looking for a entry level job? would it be wise to take non joint exams too? for example MLC or 3F?

I'm pretty sure MLC gives you credit for 3F.

[Darkness Falls]

Originally Posted by _BullDog_

I'm pretty sure MLC gives you credit for 3F.

MLC gives 3L credit

3F = MFE

[Darkness Falls]

Originally Posted by _BullDog_

Remember in this job market there are a lot more applicants for each position. Which means even if you have 3 exams for an entry level position that won't be as unique as it was a couple years ago.

Just don't expect to make the same a someone with 4 exams and a few years experience.

True, however the difference in salary is overstated. You'll make more than someone with the same experience & less exams. With a couple extra exams it's also possible to make more than someone with more experience but few exams.

Of course in the long run the exams only mean so much and your salary will be based on productivity and results!

[(/iropracy]

Originally Posted by plim5

so passing more exams, that is like 4 exams, would be more attractive to the hirer than a person who passed 2 or 3 exams even if both have no actuarial work experience and looking for a entry level job? would it be wise to take non joint exams too? for example MLC or 3F?

Some companies have a strict salary tier dependent on exams and do not want to hire someone with extra exams and no experience.