How many different kinds of jobs are there for actuary?

[ngdarr]

Hi.

I am still studying actuarial science in university in Canada and I will be graduating by the end of December 2006. Thus, I wish to get more information about all types of actuarial-related jobs.

I have successfully passed P, FM, M and C.

I wish to work in those actuarial-related company. How many different category are there?

I have been looking around the web site for a long time and I am a little confused, so I hope you guys could help me out once more.

My first question is:
I knew that there are jobs about life insurance, pension, consulting, casualty, analyst.
Are there any more?



My seconds question is:
At this moment, I am hoping I could work in company that are more along the financial direction. So, are there any companies that goes towards the financial direction but only actuarial science student can do the job?

I mean, it's true that I want to have a job that is a little financial related, but I do not want to be, e.g. stock agent etc, that everyone else could apply for.
Like those jobs that are as professional as actuary, but also touches a little bit of financial.

My third question is:
For example, if company A have a position open about life insurance, is that mean every position in A are all life insurance? or usually every company has a department for life insurance, a department for pension, etc??????

If I do get a job about life insurance and work there for a year. And for some reason, I wish to change to consultant or something. Would the consultant company look at me as a zero-experience person?

I apologize if my question is not clear enough.

[Ken]

My first question is:
I knew that there are jobs about life insurance, pension, consulting, casualty (liability), analyst.
Are there any more?



My seconds question is:
At this moment, I am hoping I could work in company that are more along the financial direction. So, are there any companies that goes towards the financial direction but only actuarial science student can do the job?

My third question is:
For example, if company A have a position open about life insurance, is that mean every position in A are all life insurance? or usually every company has a department for life insurance, a department for pension, etc??????

If I do get a job about life insurance and work there for a year. And for some reason, I wish to change to consultant or something. Would the consultant company look at me as a zero-experience person?

1. Life insurance/annuities, health insurance, property insurance, casualty insurance, pension consulting, life consulting, health consulting, P&C consulting. All of these positions will likely be called "analyst" when you start.

3. Some companies like Cigna do both life/annuities and health. A company like Tower Perrin has pension consulting, health consulting, and their Tillinghast branch does P&C consulting I think. PWC also does those three. I wouldn't say it's normal. Spreading your resources over two fields that require different types of expertise isn't necessarily a great thing to do.

2. If you want a job that goes in a financial direction, you want a job that works with long term insurance like life insurance or annuities because investment income becomes more important over a longer period of time. Some consulting companies might let you go in a financial direction, but I wouldn't count on it. When looking for a job, look for the codes ALM, ERM, and RBC. In general, if you want to be investing someone elses money, this is the wrong job for you.

[maryland]

Hi.


If I do get a job about life insurance and work there for a year. And for some reason, I wish to change to consultant or something. Would the consultant company look at me as a zero-experience person?

.

This is a question I am also very interested in. Anyone know the answer?

[Ken]

You'd gain valuable Excel experience, so, no.

[ngdarr]

1. Life insurance/annuities, health insurance, property insurance, casualty insurance, pension consulting, life consulting, health consulting, P&C consulting. All of these positions will likely be called "analyst" when you start.

3. Some companies like Cigna do both life/annuities and health. A company like Tower Perrin has pension consulting, health consulting, and their Tillinghast branch does P&C consulting I think. PWC also does those three. I wouldn't say it's normal. Spreading your resources over two fields that require different types of expertise isn't necessarily a great thing to do.

2. If you want a job that goes in a financial direction, you want a job that works with long term insurance like life insurance or annuities because investment income becomes more important over a longer period of time. Some consulting companies might let you go in a financial direction, but I wouldn't count on it. When looking for a job, look for the codes ALM, ERM, and RBC. In general, if you want to be investing someone elses money, this is the wrong job for you.

I feel that leaning more towards the financial direction makes my jobs kind of more realistic, I mean kind of know more about the world or something.

ALM, ERM, RBC. I will keep that in my mind.
Thank you very much for your detailed explanation.

[ngdarr]

You'd gain valuable Excel experience, so, no.

I am sorry, I don't really understand this time.

How does that has to do with Excel experience?

[Trojan_Horse]

Because during your first year you will learn more about Excel than you ever thought possible. I spent more time with Excel than I did with my wife during my first year.

[bork]

Because during your first year you will learn more about Excel than you ever thought possible. I spent more time with Excel than I did with my wife during my first year.

Ok, but what does a typical day in consulting look like in entry level?

[Ken]

You analyze data; you show a summary of your results to your boss; your boss asks you questions and tells you different analytical methods you should use; you go back to your computer and make those corrections; you show boss; boss explains your results to client.

For entry-level, I'd consider it all the same.

[ngdarr]

Because during your first year you will learn more about Excel than you ever thought possible. I spent more time with Excel than I did with my wife during my first year.

oh, I see now.

[IAmTensai]

2. If you want a job that goes in a financial direction, you want a job that works with long term insurance like life insurance or annuities because investment income becomes more important over a longer period of time. Some consulting companies might let you go in a financial direction, but I wouldn't count on it. When looking for a job, look for the codes ALM, ERM, and RBC. In general, if you want to be investing someone elses money, this is the wrong job for you.

Hi,
What do you mean you wouldn't count on company letting you in a financial direction? Is this very rare?

I am interested in Finance, so i am working towards a BBA with Finance along with a Math degree. In the "financial direction", would I be able to apply the knowledge from Finance courses?

Thanks in advanced

[Ken]

If you want to go into finance, you'd want to get a job as a financial analyst. Not an actuarial analyst. Why would you take an indirect route and waste your time taking exams that don't apply to the other field.

[ejmiller2]

Hi,

If you don't mind me asking what study material and books did you use to prepare for exam p and fm.

[dyc]

I figured that if one

[ngdarr]

Hi,

If you don't mind me asking what study material and books did you use to prepare for exam p and fm.

I am using study guide from Professor Broverman on both P and FM.