what does it take to get an entry level actuary job

Ever since I began my career as an actuary, I've been passionate about helping students navigate the uncertainties of their initial job search. Choosing a path later on college is already difficult, and once you've chosen to get downwards the path of a career as an actuary, the question becomes, "how do I become my first job?"

As I searched for my starting time job out of college I remember wishing that I could read the minds of my potential employers. I knew that preparing for an interview was important. I wanted to know exactly what the employer was looking for and how I could meet their requirements.

Based on my feel recruiting for both of my companies and speaking with many candidates, hither are my top x things you should consider as a student that will bring you closer to getting that first chore equally an actuary – ranked in no detail order of importance. As a fellow member of the CAS, my list is based on my feel as a property and casualty actuary, however these tips are transferable to a career in life and health.

i. Develop an understanding of the types of actuarial jobs available.

Know the job market place. Consider the types of firms where actuaries work, including insurance companies, brokerages and consulting firms. Also, consider responsibilities actuaries hold at these companies, such every bit pricing, reserving and predictive modeling. Career fairs are a slap-up fashion to see which companies are hiring, and requite you chance to meet their representatives in person. You can print during an interview by displaying you've washed your homework and you understand the types of actuarial positions available.

2. Network!

I cannot stress enough the importance of developing and utilizing your network, even at the onset of your career. Your network is likely much larger than y'all recall – It'south made up of friends, family, academy professors and other acquaintances.  The better you get to know someone, the more likely you'll exist to have access to their network, which can vastly expand the number of people who can assistance you find that first chore. If you lot have the opportunity to see someone and brand a new connexion, do information technology!  LinkedIn has made information technology easier to keep track of your network, nonetheless, think that LinkedIn is not plenty. Yous need to take the time developing connections. That ways asking people to get coffee and staying in periodic contact with them. The more time someone invests in you, the more than likely they'll become an asset to you lot in your job search. I recommend keeping a spreadsheet with your network and keeping it updated with every interaction you have with a potential contact.

three. Develop a rudimentary understanding of the insurance business

Actuaries are traditionally insurance experts, so it makes sense to know about the industry in which y'all'll likely be working. Accept a look at the list of the largest property and casualty insurance companies, and read about them to understand the blazon of business they write.  Are they writing personal lines, commercial lines, specialty lines or peradventure all of the above?  Read up on the standard insurance products – you lot might be working with them when you're hired.

4. Laissez passer exams in while in higher

It'southward no undercover that it can be challenging to obtain an entry level actuarial position without an exam passed. Nowadays, I've interviewed candidates that have passed iii, four, or even v exams before looking for their showtime job.  The more exams yous laissez passer while in college, the stronger your resume looks, and the easier it will be to obtain your fellowship, as yous'll need to pass fewer exams one time you first working full time.  I've heard students say that they have been advised not pass too many exams while still in school. I detect that communication to be out of engagement and detrimental to applicants.

5. Go along that GPA high

The GPA isn't the near important statistic on your resume, but a low GPA could give an interviewer a reason to dubiety a candidate'south abilities. And then stay focused on keeping those grades up!

vi. Take reward of soft skill opportunities

The actuarial career requires a unique balance of technical skills and communication skills. Many students studying to become actuaries focus on math and economics courses.  These courses teach critical skills, however, you should consider opportunities to improve your soft skills. Classes to consider include ones that require writing papers, or public speaking courses.

7. Take steps to prepare for the interview process

An interview can be daunting for someone that hasn't experienced ane. Even someone with a spotless resume tin can stumble in an interview due to nervousness or lack of training.  Information technology is important to know your resume inside and out, larn well-nigh the company to which you are applying, and know the description of the position to which you are applying.  You should find someone such equally a career services professional to exercise mock interviews with. Professionals tin can help y'all diagnose weaknesses in your interview style and provide suggestions on how to meliorate your interview skills.

8. Brand your resume spotless

Career services at your school can assistance by proof reading your resume. It is hard to imagine, but even a pocket-sized typo volition stick out similar a sore pollex on a resume.  Print out a copy of your resume and read through it. This will assist yous spot errors that you might take overlooked while reviewing your resume on the reckoner.

9. Understand the hiring schedules of companies for internships and full time candidates early.

This is particularly important if in that location is a company you lot would actually like to piece of work for. It is of import that yous don't miss a deadline to submit an application. To avert this, y'all need to understand their hiring schedule well in advance.  Well-nigh of the larger firms are beginning to hire earlier than they have in the past and then they tin can make full out their entry level positions ahead of the spring graduation. Exist prepared to submit your application earlier than you may think.

ten. Flesh out your technical skills

Information technology's a huge plus to be able to showcase relevant software knowledge on your resume. Consider taking an introductory course in Microsoft Excel, which is the bread and butter software used by actuaries.  Additionally, look for opportunities to go experience with VBA, SAS, SQL, R, Coffee or other programming languages.  If yous tin can demonstrate in your interview that you have experience with ane or more of these languages, information technology will advise to the interviewer that you'll have a head start on important skills when you begin your total time function.

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Source: https://www.casstudentcentral.org/10-things-to-consider-before-landing-your-first-actuarial-job/

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