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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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  #11  
Old 09-30-2006, 02:50 PM
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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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  #12  
Old 09-30-2006, 03:30 PM
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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.
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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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  #13  
Old 09-30-2006, 08:11 PM
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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.
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  #14  
Old 10-01-2006, 11:19 PM
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emm, i am one of the few people voting for pension...
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