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What salary should I expect?

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  • What salary should I expect?

    Hey all

    A new bee here..
    I had an interview last week with an Actuarial firm in New York (they specialize in pension plan consulting). Quick question about the salary. A lil about me first -

    1. A fresh Ph.D. in math (not stats) (yes - read posts and realized Ph.D. might not really help me with the actuarial field .. but I loved doing it..and was not thinking getting into Actuary until about an year back).
    2. Got a 3.96 GPA (does it really matter?).
    3. 1 1/2 year of business development managerial experience (while working during my undregrad days), worked on couple of research and teaching projects during grad school (analyzing data a bit)
    4. Organized 5-8 conferences (grad school), some were math competitions to attract high-school students others were math, comp-sci and eng. conferences (national and international).
    5. 5 years of teaching exp (basic under grad courses ranging from stats - 3 times - algebra to trig to lib arts to calculus 1 and 2 for eng.)
    6. Lots of programming experiences - 'know' most of the languages - worked with SQL and other databases n languages as well - but honestly forgot some *embarrassed* - except the one I used in recent years.
    (and currently teaching a 5th grader undergrad and grad level math-stats courses (me got lucky) n hez super smart n adorable!!

    at peace around PEOPLE - Love to interact - Love math - Love to learn (like all otherz here) .. now the important part..

    Don't Havez:
    1. Any Actuarial exams/coursework/finance courses/projects related to the field ..umm did take Real Analysis/Harmonic analysis and Prob n Stats grad level courses.
    2. No accounting experience (did share trading a little bit - BIT)

    Like I said - am a NEW bee in every aspect I guess, but hey am pretty confident and know for sure, I can handle the exams (had a look at couple of them - started reading stuff and all) as well as the client communication and learning other areas whatever is needed for the biz... and am a fast learner (not to sound arrogant)

    So u must be wondering, how did you land up with an interview in this market? got super LUCKY .. a friend of mine works at the firm (a small one -15 employees). Someone just left - and they needed urgently needed someone so I applied (they haven't posted the job yet if that matters). After sending the resume - they directly invited me for a personal interview (am guessing it was because its a small company). Anywayz, cool people loved it. They said, if hired - they'll train me wohoo

    They seemed interested - asked me to send references and other paper work. So considering this job is in New York (around Yonkers) - what salary should I be expecting. After reading a few posts - realized as a beginner one shouldn't negotiate and all...?
    Watz your say (already checked on some websits the range should be sumwhere from 47-57/60) - how much do u think should be fair if u were me?

    if it helps:
    1. I'll work on OPT basically means - employer doesn't need to pay Medicare+Social Security...which is am told by friends about 8.5%
    2. I don't want sponsorship (H1B Visa) for which the rough cost is about $3000, don't know if lawyers cost wil b extra ..

    whoopie - that was a long one - thanks for reading such a long post and any comments/suggestions/answers wud be of great help!!! *cheers* n thnx a ton!!

  • #2
    No one has responded so I'll take a crack at it, by Midwest standards, I'd probably pay you 50-55 starting and let your potential (read: exams) push you up on the payscale. It's good that you have programming experience and based on the interview I would try to gauge how good you are at communicating which might push you up or down. You not having any exams is def. going to hurt you. Obviously this firm is OK with it, I know a lot that won't even invite you for a phone interview (we have people applying for internships with 2-3 exams). Also, your spelling could use some ... work. I realize this wasn't your cover letter but I would get in the habbit of trying to spell correctly. Good luck.


    • #3
      Thanks a lot for your input NoMoreExams!!

      I'll be more careful about my spellings 'everywhere' from now on. Thanks for the advice


      • #4
        I'll add in a couple points:

        1. Yes, GPA matters. Not with a 3.96, but if someone was in the 3.50 range or so, it could. Some employers will not look at a candidate under 3.0, 3.5, or even 3.75 [I saw this one once].
        2. I completely agree with the spelling; until you're told otherwise or you see that your boss does differently, spelling and grammar should be completely professional and completely accurate. [Story about two past employers omitted ... maybe I'll share it another time.]
        3. If the employer doesn't pay for your SS and Medicare taxes, they won't be able to provide insurance, 401(k) and other benefits. I would think very carefully about lobbing that one out in a discussion - it may raise red flags for the employer.
        4. If you need sponsorship, ignoring it is a bad idea. It's not really clear whether you need it or not. If you're going to pay for the cost, fine ... but make sure everything conforms to the law - and especially to requirements imposed on the employer. If an employer will pay the cost, even better - but one way or another, if that's in the mix it needs to be resolved before Day 1.
        "You better get to living, because dying's a pain in the ***." - Frank Sinatra - where I talk about the Blues and the NHL.