MJ2.0
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Post by MJ2.0 on Aug 12, 2015 19:02:46 GMT -5
You realize being an actuary is super boring, right? Lemme see... which part of my 38-year actuarial career was boring? -always getting to be first to try new software -digging into a bunch of new data and finding interesting things -working with very smart people, most of whom love what they do -being in the mainstream of the corporation -traveling to Brussels, London, Bangalore, Delhi, Zurich and Munich on the company dime -figuring out how to invest the $$ I don't need for day-to-day expenses -going to actuarial meetings in NYC, Boca Raton, San Diego, Vegas, Orlando (as well as more pedestrian but interesting places like Chicago and Toronto) on the company dime?
Seriously, good luck, Carl. (And yes, we have exchanged PMs.) It will get worse before it gets better- you really have to pay your dues studying for exams. Milton Freidman noted in his memoir that he tries the actuarial career path and gave up on the exams.
To those of you who are wondering about what educational credentials are needed- I've worked with plenty of actuaries who had degrees on Engineering, Physics and other STEM-type majors. It definitely does not have to be Actuarial Science although you usually pass a few exams while getting an Act. Sci. degree and that sure helps.
Pension actuarial work is dying out for obvious reasons but property-casualty and life and health are still good fields.
Well... the traveling sounds interesting!
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sesfw
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Post by sesfw on Aug 12, 2015 19:20:05 GMT -5
If it will help you get your education ....... I was 50 when I started my studies for an AA in electronics. It was a 19 month course and I got a job immediately as a calibration tech.
I realize working with your hands isn't for everyone but it was work I enjoyed, kept us solidly middle class and I paid off my student loans. DH was semi-retired but unfortunately died at age 59 of a heart attack.
The technical field is something to consider also. Using your hands and brain for problem solving .......... and not dealing with the general public all the time. I had a couple of thorns during my calibration years but it wasn't anything I couldn't handle.
Good luck.
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Opti
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Post by Opti on Aug 12, 2015 19:32:38 GMT -5
I'm in healthcare and I seldom work nights and weekends. My immediate supervisor is out on disability so I've been working more hours than usual, but not usually much in excess of 60 hours. I'm currently at a conference and had to work all afternoon to put out some fires that couldn't wait until I get back in the office. Meanwhile I'm missing some incredible speakers and seminars. Healthcare is a big industry. Like anything it depends on what you do. Social work for example, in healthcare, with a longtime rep of being underpaid given education required etc. Doctors well paid, some work crap hours, others have nice hours in private practice. All depends.
Just found on MSN that major layoffs are happening because of the Heinz/Kraft merger. Only slightly OT, and to be in current events.
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Ava
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Post by Ava on Aug 12, 2015 19:43:11 GMT -5
Carl;
If I were in your situation, and given what we know about you and your personality, I would suggest you look into something more "hands-on" that doesn't require a ton of extra education and 5 years of your life to get there. I think training as some sort of technician would be a good career choice.
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Ava
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Post by Ava on Aug 12, 2015 19:44:32 GMT -5
And what about sitting for the CPA? Haven't you thought about that? How far are you from the 150 credits?
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chiver78
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Post by chiver78 on Aug 12, 2015 20:06:58 GMT -5
I will add though that if money is important to you no one gets paid $100K a year and gets to work under 50 hours a week and doesn't get bothered on the weekends. I guess pharmacists maybe but then you need what amounts to a doctorate and are still back in retail. *raises hand* I work 40 hours a week and make six figures. I do have a doctorate but my interactions with customers are minimal and other scientists are much less annoying than the general public as customers. DH (also a PhD) makes 2-3x what I do and I won't let him work more than 50 hours a week either raises hand. my new job is $98k and change, so next year with my bonus, I will make six figures for a 40h a week job. no PhD here, either. I will be working Sundays, but that is my choice for shift. I also have a 4x10h schedule that gives me a Th/F/Sat weekend. sent from my electronic distraction
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Angel!
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Post by Angel! on Aug 12, 2015 20:32:22 GMT -5
You realize being an actuary is super boring, right? Lemme see... which part of my 38-year actuarial career was boring? -always getting to be first to try new software -digging into a bunch of new data and finding interesting things -working with very smart people, most of whom love what they do It takes a special kind of person to think those things are awesome. Personally, I love these and they are part of what I like about my job. But the average person, not so much.
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andi9899
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Post by andi9899 on Aug 12, 2015 20:33:04 GMT -5
*raises hand* I work 40 hours a week and make six figures. I do have a doctorate but my interactions with customers are minimal and other scientists are much less annoying than the general public as customers. DH (also a PhD) makes 2-3x what I do and I won't let him work more than 50 hours a week either raises hand. my new job is $98k and change, so next year with my bonus, I will make six figures for a 40h a week job. no PhD here, either. I will be working Sundays, but that is my choice for shift. I also have a 4x10h schedule that gives me a Th/F/Sat weekend. sent from my electronic distraction What kind of work will you be doing?
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andi9899
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Post by andi9899 on Aug 12, 2015 20:37:01 GMT -5
Lemme see... which part of my 38-year actuarial career was boring? -always getting to be first to try new software -digging into a bunch of new data and finding interesting things -working with very smart people, most of whom love what they do It takes a special kind of person to think those things are awesome. Personally, I love these and they are part of what I like about my job. But the average person, not so much. Actuaries are a very different breed. I've been in insurance for 15+ years and no way could I be an actuary. Don't get me wrong, I think they are brilliant. I just am a different kind of person. I can't be chained to a desk. I'm a social butterfly. I have to be out in the public shaking hands and making deals.
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Deleted
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Post by Deleted on Aug 12, 2015 20:39:52 GMT -5
Well... the traveling sounds interesting! Nah, it was really stressful.. Stuck in Brussels or Zurich over a weekend and trying to pick what country to visit on a day trip.. Just nerve-wracking!
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Angel!
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Post by Angel! on Aug 12, 2015 20:42:14 GMT -5
*raises hand* I work 40 hours a week and make six figures. I do have a doctorate but my interactions with customers are minimal and other scientists are much less annoying than the general public as customers. DH (also a PhD) makes 2-3x what I do and I won't let him work more than 50 hours a week either raises hand. my new job is $98k and change, so next year with my bonus, I will make six figures for a 40h a week job. no PhD here, either. I will be working Sundays, but that is my choice for shift. I also have a 4x10h schedule that gives me a Th/F/Sat weekend. sent from my electronic distraction Give me <5 years and I'll be raising my hand as well. I'm only at 80k now, but I rarely work over 40, rarely work a weekend except by choice, and have insane flexibility - like I could send an email tomorrow morning saying I will be in at x time or not in at all or working from home and no one would blink an eye. I also am pretty LCOL compared to many of you, so 80k goes farther here than 100k does in some places.
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chiver78
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Post by chiver78 on Aug 12, 2015 20:43:33 GMT -5
Well... the traveling sounds interesting! Nah, it was really stressful.. Stuck in Brussels or Zurich over a weekend and trying to pick what country to visit on a day trip.. Just nerve-wracking! ha, I've had those problems. I found a Six Flags in Belgium one weekend, and visited a Swiss summer resort village another one. ;D sent from my electronic distraction
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MJ2.0
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Post by MJ2.0 on Aug 12, 2015 20:44:45 GMT -5
Damn I need to start my academic path quickly! I knew I made crappy money, but this conversation is rubbing salt in the wound!
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chiver78
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Post by chiver78 on Aug 12, 2015 20:45:29 GMT -5
raises hand. my new job is $98k and change, so next year with my bonus, I will make six figures for a 40h a week job. no PhD here, either. I will be working Sundays, but that is my choice for shift. I also have a 4x10h schedule that gives me a Th/F/Sat weekend. sent from my electronic distraction What kind of work will you be doing? I moved from an engineering role into a QA position (with a facilities/engineering focus) at a different biotechnology company closer to home. my site is an active manufacturing site that is moving toward 24/7 coverage. sent from my electronic distraction
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wvugurl26
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Post by wvugurl26 on Aug 12, 2015 20:48:27 GMT -5
Damn I need to start my academic path quickly! I knew I made crappy money, but this conversation is rubbing salt in the wound! When I took my job five years ago I was making $43k. I didn't get here overnight.
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andi9899
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Post by andi9899 on Aug 12, 2015 20:48:16 GMT -5
Damn I need to start my academic path quickly! I knew I made crappy money, but this conversation is rubbing salt in the wound! What do you do? I don't think I ever knew that.
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MJ2.0
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Post by MJ2.0 on Aug 12, 2015 20:54:46 GMT -5
Damn I need to start my academic path quickly! I knew I made crappy money, but this conversation is rubbing salt in the wound! When I took my job five years ago I was making $43k. I didn't get here overnight. But you more than doubled your salary in 5 years. I don't even make 1.5x my starting salary and that's with me being here almost 7 years plus a promotion.
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MJ2.0
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Post by MJ2.0 on Aug 12, 2015 20:56:56 GMT -5
Damn I need to start my academic path quickly! I knew I made crappy money, but this conversation is rubbing salt in the wound! What do you do? I don't think I ever knew that. Logistics supervisor for a clothing holding corporation. I kinda fell into this job and had no solid career path. I guess it's alright for having no real plan but I'm done with that now. Like Carl, it's time to do something bigger and better (with better pay, lol).
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Angel!
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Post by Angel! on Aug 12, 2015 21:02:15 GMT -5
When I took my job five years ago I was making $43k. I didn't get here overnight. But you more than doubled your salary in 5 years. I don't even make 1.5x my starting salary and that's with me being here almost 7 years plus a promotion. That is insanely good, that's an average of a 15% raise each year. It took me 11 years to double my starting salary.
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chiver78
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Post by chiver78 on Aug 12, 2015 21:13:21 GMT -5
But you more than doubled your salary in 5 years. I don't even make 1.5x my starting salary and that's with me being here almost 7 years plus a promotion. That is insanely good, that's an average of a 15% raise each year. It took me 11 years to double my starting salary. 14 here. I started at $47k at the last place. the past 4 or 5 years, the average raise was 1%. sent from my electronic distraction
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TheHaitian
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Post by TheHaitian on Aug 12, 2015 21:15:32 GMT -5
Damn I need to start my academic path quickly! I knew I made crappy money, but this conversation is rubbing salt in the wound! When I took my job five years ago I was making $43k. I didn't get here overnight. Same here, started at 46k with my company in 2010; now at 80k + bonus (Max potential bonus is 20% salary = 16k/year.... Bonus check this Friday, happy dance!!! ) The hours are just ridiculous, I need a life!
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MJ2.0
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Post by MJ2.0 on Aug 12, 2015 21:19:10 GMT -5
That is insanely good, that's an average of a 15% raise each year. It took me 11 years to double my starting salary. 14 here. I started at $47k at the last place. the past 4 or 5 years, the average raise was 1%. sent from my electronic distraction Hell no, I'm not staying here another 4-7 years - lol!
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emma1420
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Post by emma1420 on Aug 12, 2015 21:38:44 GMT -5
But you more than doubled your salary in 5 years. I don't even make 1.5x my starting salary and that's with me being here almost 7 years plus a promotion. That is insanely good, that's an average of a 15% raise each year. It took me 11 years to double my starting salary. It is. It took me 8 years to increase my salary at my current employer by 50% and that includes two promotions. I've more than doubled my salary since I started working, but that required multiple job changes. i figure to double the salary I started with (at my current employer) it will take me 15 years or so. I think a lot of this depends on the number of promotions you receive and the increase in salary you get due to those promotions.
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chiver78
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Post by chiver78 on Aug 12, 2015 21:40:22 GMT -5
14 here. I started at $47k at the last place. the past 4 or 5 years, the average raise was 1%. sent from my electronic distraction Hell no, I'm not staying here another 4-7 years - lol! I wouldn't have, if I'd already been able to sell my condo, buy the new house/car... but everything happens for a reason! sent from my electronic distraction
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wvugurl26
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Post by wvugurl26 on Aug 12, 2015 22:47:38 GMT -5
I was lucky to get in under the intern program and get yearly promotions. And lucky to be in an office that opens up senior auditor positions for people doing the work. Those are competitive not just given for time in the lower grade. I'm just below our managers now. I cover them when they are out.
I was shocked to find out I'm getting a random incentive award on Friday's check. I did bust my butt this year. It's been rough at times. Nothing like Carl's bonus but I'll always take a couple hundred extra bucks.
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whoisjohngalt
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Post by whoisjohngalt on Aug 12, 2015 22:55:39 GMT -5
I will add though that if money is important to you no one gets paid $100K a year and gets to work under 50 hours a week and doesn't get bothered on the weekends. I guess pharmacists maybe but then you need what amounts to a doctorate and are still back in retail. *raises hand* I work 40 hours a week and make six figures. I do have a doctorate but my interactions with customers are minimal and other scientists are much less annoying than the general public as customers. DH (also a PhD) makes 2-3x what I do and I won't let him work more than 50 hours a week either wow - so what do you guys do??
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yogiii
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Post by yogiii on Aug 13, 2015 4:47:12 GMT -5
What kind of work will you be doing? I moved from an engineering role into a QA position (with a facilities/engineering focus) at a different biotechnology company closer to home. my site is an active manufacturing site that is moving toward 24/7 coverage. sent from my electronic distraction How are you liking QA? I've been contemplating that
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yogiii
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Post by yogiii on Aug 13, 2015 4:56:37 GMT -5
I also think you will do well at whatever you choose to do. Good luck Carl! I hope you find something, actuary or not that is a better fit for you.
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yogiii
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Post by yogiii on Aug 13, 2015 5:46:12 GMT -5
You realize being an actuary is super boring, right? Lemme see... which part of my 38-year actuarial career was boring? -always getting to be first to try new software -digging into a bunch of new data and finding interesting things -working with very smart people, most of whom love what they do -being in the mainstream of the corporation -traveling to Brussels, London, Bangalore, Delhi, Zurich and Munich on the company dime -figuring out how to invest the $$ I don't need for day-to-day expenses -going to actuarial meetings in NYC, Boca Raton, San Diego, Vegas, Orlando (as well as more pedestrian but interesting places like Chicago and Toronto) on the company dime?
Seriously, good luck, Carl. (And yes, we have exchanged PMs.) It will get worse before it gets better- you really have to pay your dues studying for exams. Milton Freidman noted in his memoir that he tries the actuarial career path and gave up on the exams.
To those of you who are wondering about what educational credentials are needed- I've worked with plenty of actuaries who had degrees on Engineering, Physics and other STEM-type majors. It definitely does not have to be Actuarial Science although you usually pass a few exams while getting an Act. Sci. degree and that sure helps.
Pension actuarial work is dying out for obvious reasons but property-casualty and life and health are still good fields.
You realize I was joking a bit right? Everything on your list is part of my job too though at this stage of my life I'm constantly trying to get out of line for the international travel. Each person is different and it seems like Carl is a very motivated person. Right now he has a lot of balls in the air for things he is hoping to happen. In the event that all those things happen at once, 'I' would have a very hard time dealing with it, but I'm not Carl. Still it's a good point to bring up. Carl posted this knowing he'd get the cons, I mean, why else does anyone post anything on YM? We don't exactly pat each other on the back constantly.
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garion2003
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Post by garion2003 on Aug 13, 2015 7:55:06 GMT -5
But you more than doubled your salary in 5 years. I don't even make 1.5x my starting salary and that's with me being here almost 7 years plus a promotion. That is insanely good, that's an average of a 15% raise each year. It took me 11 years to double my starting salary. It took me 14 years, and changing jobs 3 times (so now I'm on my 4th employer). And now I'm also in a HCOL area so it's not "double" in the net sense..but I'm still better off!
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