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  #1  
Old 12-29-2006, 06:01 PM
piano piano is offline
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Default Salary immediately after ASA, FSA?

Hi, I have questions about salary for curiosity.

Let us Assume a pace of two exams passed every year.

And start with exam 3 (the first two exams were passed in school)

What is the salary as a health actuary immediately after ASA? Immediately after FSA?

What is the salary for a property/casualty actuary immmediatley after ASA? Immediatley after FSA?

Under this scenario, this scenario I have the following assumptions:

I start out with two exams passed before searching a job and earn $45K out of school.

and:

year 1: I pass exams 3a, 3b, and 4

year 2: I pass exams 5 (FAP modules) and 6

ASA / ACAS

year 3: pass exam 7

year 4: pass exam 8

FSA

year 5: pass the 9th exam (for CAS only)

FCAS

So that is:
I am asking expected salary after 2 years of work experience and ASA / ACAS? (Two different numbers)

And expected salary after FSA/ FCAS?

I realize this is a very fast passing schedule!! And this is only approximate.

Sometimes I think on the Simpson salary the numbers could be skewed upward due to many jobs being in the New York/ New Jersey area that has a very high cost of living, as well as the Chicago area.

So let us assume that I am asking for numbers in an average cost of living area such as somewhere in the Southeast (let us say Atlanta, Charlotte, Jacksonville, you get the idea).
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  #2  
Old 12-29-2006, 06:13 PM
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L. Mo L. Mo is offline
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Hi! You're relatively new here (welcome!), so I'll give you the benefit of the doubt.

Not really. I'm sure salary has been discussed ad nauseum. Please use the search function.

Besides, it's hard to really tell you what your salary should be with 2 years experience. Depends whether you're a useful employee or not, whether you pass exams as quickly as you dream to, the company you're working for, where you're living, etc.

The DWS survey is just a guide. It does skew high in some areas.
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Old 12-29-2006, 07:09 PM
Axy Axy is offline
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Compare to the dw simpson's salary, your salary would be slightly lower than the lower bound of the interval indicated by their survey.
I am pretty sure about this, because I have exactly the same situation, starting with 2 exams, have a salary of 4.5K, working in the middle of nowhere in health, passed 2 exams a year, what a coincidence...
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Old 12-29-2006, 07:11 PM
DW Simpson DW Simpson is offline
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Quote:
Originally Posted by Axy View Post
Compare to the dw simpson's salary, your salary would be slightly lower than the lower bound of the interval indicated by their survey.
I am pretty sure about this, because I have exactly the same situation, starting with 2 exams, have a salary of 4.5K, working in the middle of nowhere in health, passed 2 exams a year, what a coincidence...
What?
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Old 12-29-2006, 07:20 PM
LoneGirl LoneGirl is offline
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Quote:
Originally Posted by Axy View Post
Compare to the dw simpson's salary, your salary would be slightly lower than the lower bound of the interval indicated by their survey.
I am pretty sure about this, because I have exactly the same situation, starting with 2 exams, have a salary of 4.5K, working in the middle of nowhere in health, passed 2 exams a year, what a coincidence...
Salary of 4.5K? If that's per year, you're getting screwed.....

(FYI: 4.5K = 4,500)
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  #6  
Old 12-29-2006, 08:30 PM
Dr T Non-Fan Dr T Non-Fan is online now
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Obviously a typo. Numbers come from OP, though the decimal doesn't.
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DTNF's Trademarked Standard Career Advice: "pass some exams and get back to us."
DTNF's Major advice: "Doesn't matter. Choose major that helps you with goal of Career Advice."
DTNF's Résumé Advice: Have a good and interesting answer to every item on it for the interviews.
DTNF's Law of Job Offers: You not only have to qualify for the position, but you also have to be the best candidate available for the offer.
DTNF's Work Philosophy: I am actuary. Please insert data. -- Actuary Actuarying Rodriguez.
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  #7  
Old 12-29-2006, 08:45 PM
Dr T Non-Fan Dr T Non-Fan is online now
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After two years, and passing exams at a good clip: $65K, for either industry.

Plus/Minus $15K.

Fellowship: $90K, Plus/Minus $15K.

If you start at a certain salary, I'll assume that the percentage increases are level regardless of where you work. I.e., area factor is provided in your out-of-school estimate.

Next question?
On second thought, forget it. I will provide answers with large variances just like these, due to the fact that I don't know that much about your very specific questions, so I'm just C'ing M.A. (Practice, for real actuarial work.) The large variances make my estimates somewhat useless. Anyone providing estimates with lower variances is likely not telling the truth or basing their estimate on a very small (anectodal) number of observations, possibly not trended to your time period. Variances are heavily dependent on your relationship with your employer (or a good recruiter). Increasing salary more than COL and exam bumps is not some guaranteed event.

How about doing well enough on interviews, so that this hypothetical, "What do I do???" situation actually comes to light? Trick question: I figure if you are bright enough to get two offers in two different actuarial professions, you will be able to solve your problem better than any of us.
GL, and HNY.
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DTNF's Basic Philosophy Regarding Posting: There's no emoticon for what I'm feeling! -- Jeff Albertson (CBG)
DTNF's Trademarked Standard Career Advice: "pass some exams and get back to us."
DTNF's Major advice: "Doesn't matter. Choose major that helps you with goal of Career Advice."
DTNF's Résumé Advice: Have a good and interesting answer to every item on it for the interviews.
DTNF's Law of Job Offers: You not only have to qualify for the position, but you also have to be the best candidate available for the offer.
DTNF's Work Philosophy: I am actuary. Please insert data. -- Actuary Actuarying Rodriguez.
Twitches' Advice to Crazy Women: Please just go buy your 30 cats already.
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