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Old 08-09-2019, 04:35 PM
Kalium Kalium is offline
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Join Date: Dec 2014
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Quote:
Originally Posted by actuary_truther View Post
It is false to claim that certification has no bearing on earnings. If that were the case the qualification has no value. Many jobs ask for qualified actuaries. ...
If you think the qualification has an intrinsic value, try going for a server role in your local restaurant and asking for a high rate of pay purely on the basis that you have a piece of paper saying FIA/FSA/FCAS ...

It has a bearing on earnings only in that it is an indication that the holder should be able to produce work at an appropriate high level / quality. Companies ask for qualified actuaries because they need work done at that level, and then pay the going rate for the work produced.

They can, and sometimes do, even pay the same "qualifed" rate to Associates/Students if they can produce work at the Fellowship level (except for roles specifically requiring a Fellowship signature). Conversely I've known a few people who had passed all the exams, so had Fellowship, but for various reasons couldn't actually produce work at that level; they didn't last very long in their roles (sometimes repeatedly), and ultimately either accepted lower pay, or left the profession.
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