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good offer...or should i wait for better?

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  • good offer...or should i wait for better?

    I just got an offer from a big consulting firm in NYC for entry level with 2 exams for 54 g plus 3 g sign on bonus, and from talking to my friends, and correct me if im wrong, but they think thats gonna be what most offers are. Also, I am concerned that it will be longer hours and a harder work load than a job with an insurance company, and I will have a harder time passing exams. On the other hand everyone i spoke to on my interview seemed to love the place, even the new guys. At this point I dont have any other offers, but i just graduated in December, so I''m still looking, and my I'm feeling unsure whether I should take this, or maybe wait for either more pay or maybe an insurance company to make an offer. Any advice would be greatly appreciated!
    Thanks guys!

  • #2
    It seems like you have a pretty good perspective on things and a pretty good understanding of reality. I'll just add a few points for you to think about. As you get further out from your grad date, companies are going wondering why you are still on the market. That may make additional offers "slightly" more difficult to come by. You also said you had nothing else going. What happens if it's several more months before you get another offer...how will that make you feel? Sometimes getting exam time at consulting firms is not as bad as everyone makes it sound. If others at the company have been passing, that's a your best clue. Some people can pass easily, some can't, some take many tries. The harder it is for you to pass, the more difficult it might be to do so in that environment. Look at others at the firm and look at others of similiar ability and see if they are passing.

    Your question should probably go deeper and ask what type environment will I prefer? One where I will be working with and servicing outside customers, cultivating and nurturing those relationships or one where it's more of an internal corporate enviroment working with the same people, more of a 9-5, not dealing with the outside business world and much? If you are highly outgoing that will lead you one way. If you are highly intraverted that will lead you another. If you are in the middle, the decision is more difficult.

    Also consider that if you go to work for a highly recognized consulting firm, that name looks highly desirable on your resume. It will be easy for you to get a job somewhere else down the road, should you choose.

    It sounds like you liked the people and liked the environment and people are passing exams. This is your only offer so far plus you are past your grad date. I think this is a personal decision and one you have to make yourself. You can probably hold out and get an offer from an insurance company but will it offer you the money, location, type work, and people you want to work with? You have to decide if that is worth the risk of giving up something that is a given...a job in hand.
    P. S. I'm Denny Crane

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    • #3
      Make sure you consider the cost of living. There are cost of living calculators available on the internet (google it). They may be able to give you a rough idea of how a 53,000 salary in New York compares to other locations.

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      • #4
        One gauge is here: http://www.dwsimpson.com/salary.

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        • #5
          From what I gather, 54k base salary isn't bad, but what is their pay raise scale like, especially for exams passed? How much does a new FSA make? These are things to consider.

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          • #6
            Originally posted by PhillyP
            Make sure you consider the cost of living. There are cost of living calculators available on the internet (google it). They may be able to give you a rough idea of how a 53,000 salary in New York compares to other locations.
            $45K in most places >>> $53K in New York.

            Not a joke. Factor in cost of living and such, and you can get a *nice* $150,000 house (with a real yard and actual grass!) in most places for about the same or less than it would cost to rent a 1-bedroom hole in the wall in New York or Boston.
            "You better get to living, because dying's a pain in the ***." - Frank Sinatra

            http://www.hockeybuzz.com/blogger_ar...blogger_id=174 - where I talk about the Blues and the NHL.

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            • #7
              Originally posted by Irish Blues
              $45K in most places >>> $53K in New York.

              Not a joke. Factor in cost of living and such, and you can get a *nice* $150,000 house (with a real yard and actual grass!) in most places for about the same or less than it would cost to rent a 1-bedroom hole in the wall in New York or Boston.
              I commute from NJ, so 54k is closer to 49k here, if you factor in taxes and commuting.

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              • #8
                And yeah, I'm from Missouri, where my parents bought a 4 bedroom house in 1998 for $76,000, whereas my fianceƩ and I rent a two bedroom condo from her parents that they bought for $340,000.

                Condo taxes (in a low tax (comparably to the state, anyway) township), $3600 annually.

                Parents' house taxes, $1000 annually.

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                • #9
                  Hey, I really think you should take the job. The application process is already tiresome as it is, take advantage of the opportunity to get paid and gather experience. If you aren't happy with the job, find another one after a year or two. I know a few actuaries who have done just that.

                  Did you have actuarial internships in college?

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                  • #10
                    Originally posted by SirVLCIV
                    And yeah, I'm from Missouri, where my parents bought a 4 bedroom house in 1998 for $76,000, whereas my fianceƩ and I rent a two bedroom condo from her parents that they bought for $340,000.

                    Condo taxes (in a low tax (comparably to the state, anyway) township), $3600 annually.

                    Parents' house taxes, $1000 annually.
                    Isn't the Midwest great?
                    "You better get to living, because dying's a pain in the ***." - Frank Sinatra

                    http://www.hockeybuzz.com/blogger_ar...blogger_id=174 - where I talk about the Blues and the NHL.

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