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View Poll Results: At the entry level, which do you choose?
Pension consulting 9 9.89%
Property & casualty insurance 77 84.62%
Duke Ellington's "Dimuendo and Crescendo in Blue" 5 5.49%
Voters: 91. You may not vote on this poll

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Old 09-30-2006, 02:50 PM
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Nutty Buddy Nutty Buddy is offline
Join Date: Aug 2006
Posts: 208

Having experienced life insurance for 5 years, and finally beginning to understand how I work and add value, I think I would take the consulting job. Seems I have a good idea of how to determine what the "big picture" of the task is, and I like tasks that I can take from 0% to, say, 90% completion and then pass off to others who can tweak. I don't think the finishing is my strong skill, because I'm just not as detail-oriented as some others. I like the creative aspect - and the consulting position seems like it presents a larger opportunity to use creativity more often than with standard P&C (updating spreadsheets, calculating this year's loss ratio and why it's not last years).
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Old 09-30-2006, 03:30 PM
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WWSituation WWSituation is offline
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There are benefits to being in a consulting firm - but for an entry level position, you generally don't reap many of those benefits. Culturally, consulting is a great fit for a lot of people - and you do get a chance to be more broad based at certain firms that have a lot of businesses.

If you feel you are a hardcore actuary, then the p&c job is a runaway winner - the greater upside and future have been discussed at length. If you think you might want to transiton into something else (comp/benefits/mgt consulting/outsourcing/other), it could be good to get a little more money and the opportunity to diversify if the firm is open to it.
Originally Posted by Duffer View Post
We, the actuarial profession, did several things badly.

1. Pandering - we marketed ourselves as finding clever ways to give the public pension sponsors something for nothing
2. Ignored consequences - we found clever ways to allow politicians to ignore the true costs of benefit increases, like negative amortization of losses
3. Low standards of measurement - GASB had the most simple-minded of standards, and is now only going half-way to raise the standard.
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Old 09-30-2006, 08:11 PM
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JMO Fan JMO Fan is offline
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Govt & courts continue to diminish defined benefit plans. That's why I switched back to life after a couple of years pension consulting.

Virtually all players (govt, consumers, & companies) place increasing value on casualty actuaries.
I thought this WAS a real job
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Old 10-01-2006, 11:19 PM
JayC JayC is offline
Join Date: Aug 2006
Posts: 13

emm, i am one of the few people voting for pension...
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