what is the use of ASA, FSA in pension business

[bm1729]

Originally Posted by Traci

And I do agree that is probably more common in larger firms. Without an SoA designation in a larger firm, you would have to prove yourself very soundly with client management and sales skills. You would have to do that anyway -- even with the SoA letters -- but I do agree that the ASA/FSA is more readily recognized by other actuaries.

Traci, forgive me for sounding confrontational, but you keep mentioning how the ASA/FSA designation is more readily recognized by "other" actuaries, as if to suggest that it only has value to other actuaries. Let's assume that to be true. My question then is, how is that a bad thing? Most of us will work for other actuaries and deal with other actuaries. It is precisely those other actuaries who will have a big say in our career progression, is it not?

[Traci]

Traci, forgive me for sounding confrontational, but you keep mentioning how the ASA/FSA designation is more readily recognized by "other" actuaries, as if to suggest that it only has value to other actuaries. Let's assume that to be true. My question then is, how is that a bad thing? Most of us will work for other actuaries and deal with other actuaries. It is precisely those other actuaries who will have a big say in our career progression, is it not?

Not at all -- and I do not mean to sound defiant.

I did not say - nor did I mean to imply - that getting the designation is a bad thing - ever. I've agreed with you.

If you are early in your career - and/or if you plan to work for larger firms - it certainly isn't a bad thing - and may help you get noticed.

All I'm saying - and I think all the EA at GY's firm was saying - is that for someone who knows he wants to stay in pensions, that ASA/FSA is simply not necessary.

It's not a bad thing -- it's just not a necessary credential for success in the pension industry.

[bm1729]

Okay, we're cool then.

But you know what would really make my day, Traci? Convincing you to say that getting your ASA or FSA would be a good thing, as opposed to merely saying that getting it isn't a bad thing.

Can I get you to say that?

[Traci]

But you know what would really make my day, Traci? Convincing you to say that getting your ASA or FSA would be a good thing, as opposed to merely saying that getting it isn't a bad thing.

Can I get you to say that?

Sorry - I can't - not unequivocally - not based on my experience. It wouldn't make a bit of difference to me at this point. I would like to get more education though -- there are some areas of business and finance that I feel I could use more knowledge. But passing SoA exams won't help me with that.

If you know that you want to work your way to the top in a large pension consulting firm -- then yes, I would say that it would be a definite plus. Those making the promotion decisions will certainly look favorably upon it.

[bm1729]

Originally Posted by Traci

Sorry - I can't - not unequivocally - not based on my experience.

I'm sorry you feel that way Traci... Wait a minute, hold the line... did you say...

If you know that you want to work your way to the top in a large pension consulting firm -- then yes, I would say that it would be a definite plus.

Definite plus? Yes, I'll accept "definite plus"!

[Traci]

Glad to help

But remember -- I also said "If you know that you want to work your way to the top in a large pension consulting firm "

I - as well as GY's EA - work at smaller firms. I can't see myself ever going back to a large firm. Too many egotistical FSA/ASA's

[Frodo]

Originally Posted by Traci

I can't see myself ever going back to a large firm. Too many egotistical FSA/ASA's

As opposed to those egotistical EA's that are "partners" at a small firm?? :P

[Emily]

For a pension consultant being an EA is a must. It's not just so you can sign a schedule B. If you give your client any advice at all about ERISA compliance you need to be either an EA or a member of the state bar or else you risk getting in trouble for practicing law without a license.

SOA credentials are potentially important for at least two reasons. First of all, your employer may require them before your career can advance. Even if you company doesn't absolutely require them, they can speed your career along. Secondly, a potential client may expect them. This may only be true for larger clients, but if the CFO of a fortune 500 company is looking for an actuary, it is likely that he will only consider FSA's. It is not a good idea to assume that only other actuaries know what the letters mean.

In my company the EA designation is not highly regarded on its own. It is assumed that any FSA who practices in the pension field can pick up the EA designation without too much trouble.

[Traci]

As opposed to those egotistical EA's that are "partners" at a small firm??

You registered an ID just to say that?

This thread is the only time I've ever given that specific piece of information about myself -- and I hesitated to reveal it. (I'm pretty careful about what I say here, since I use my real name.)

As to being egotistical at the office -- well -- there's no one to brag to! Just my kids - Emilie and Aryn - and they aren't very interested.

I recently got a new box of business cards and they now have the letters EA after my name.

My 5-year-old was looking at them.

"Mommy, what are these for?"

"I use them when I work. I give them to people that I work with sometimes, so that they will have my name and phone number and stuff"

"Oh ...... What does EA mean?"

I said, "Well -- the E is for Emilie and the A is for Aryn -- of course!"

I wouldn't trade the beaming look I got for anything!

[Shaft]