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-   -   Actuarial program changes in the recent years (http://www.actuarialoutpost.com/actuarial_discussion_forum/showthread.php?t=338813)

bjc2142 03-06-2019 03:56 PM

Actuarial program changes in the recent years
 
I'd be interested in gathering information about how structured actuarial programs in the US have been changing in the industry over last couple years. I think various factors (Insurance industry profitability, oversupply of actuaries, competition from DS, etc) could be driving changes. Please try to be unbiased when making selection.

Examples include:
Increase/decrease in study support ($ or hours)
Increase/decrease in exam raises, salary structure, promotion potential
Change in policy regarding SOA/CAS meeting attendance and conferment ceremony
Layoffs or downsizing in actuarial job function

Please indicate how the change has been overall in the poll, and feel free to add specifics if you feel comfortable doing so.

lllj 03-12-2019 07:21 AM

Some raises went down, others went up, but in total they went down. Number of attempts allowed went down. Study material allowance went up. Bonuses went up.

In all I voted slightly worse.

bjc2142 03-12-2019 12:53 PM

Quote:

Originally Posted by lllj (Post 9564415)
Some raises went down, others went up, but in total they went down. Number of attempts allowed went down. Study material allowance went up. Bonuses went up.

In all I voted slightly worse.

Sorry to hear that, but good to know you had some positive changes.

We had decrease in study material $ support, removal of dedicated study/meeting space, negative changes to professional meeting attendance policy, and finally official slowdown in promotion frequency. I don't recall any positive changes in the last couple of years. This is very demoralizing. :(

kimjongfun 03-13-2019 11:40 PM

our study program hasn't gotten worse but they kind of skimped on the new ASA exam raises and study time.

Also they certainly havent changed exam raises in a very long time and of course inflation erodes those.

They have also decreased the amount of program related activities and more importantly decreased ability to get raises in general

bjc2142 03-14-2019 10:15 AM

Quote:

Originally Posted by kimjongfun (Post 9566322)
They have also decreased the amount of program related activities and more importantly decreased ability to get raises in general

Forgot about this. HR removed majority of program related activities. Nothing really going on in the office these days..

jts75 03-14-2019 04:22 PM

Definitely better. Added the 2 exam raises and introduced a first time pass bonus. Didn't change anything about the existing exam increases.

redearedslider 03-14-2019 04:32 PM

No explicit changes but the program was weak to begin with. Of note there's no official support for the CSPA credential.

Bassooner 03-15-2019 11:58 AM

Our only change in the past few years was for the ASA restructuring. Same total raise dollars, but a couple of the exam raises were lessened in order to provide raises for the analytics and stats exams. Study time per exam hour stayed the same.


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