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Old 09-23-2010, 08:57 PM
mat157 mat157 is offline
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Default Networking experience

What exactly is networking in the context of actuarial science? I see the word all the time but what exactly is the meaning? What do you do at a network and why is it beneficial?
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Old 09-23-2010, 09:05 PM
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What exactly is networking in the context of actuarial science? I see the word all the time but what exactly is the meaning? What do you do at a network and why is it beneficial?
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Old 09-23-2010, 09:45 PM
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What exactly is networking in the context of actuarial science? I see the word all the time but what exactly is the meaning? What do you do at a network and why is it beneficial?
Making contacts. Probably something you don't need to worry too much about. But it always helps in any field to keep and develop contacts. Networking suggests aggressively finding contacts.

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Old 09-23-2010, 09:50 PM
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so I take it your resume is more considered by an employer if you've met them and talked to me at a network?
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Old 09-23-2010, 10:03 PM
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For the average professional, actuarial science is more of a what you know than who you know field, unlike other fields like accounting, law, sales, investments...which is a good thing since it is very much a meritocracy

As GA said, in any field you want to have contacts in case you want to switch employers, you have someone to vouch for you
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Old 09-23-2010, 10:04 PM
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so I take it your resume is more considered by an employer if you've met them and talked to me at a network?
A network is not something you go to. It's something you develop.
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Old 09-24-2010, 04:47 AM
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For the average professional, actuarial science is more of a what you know than who you know field, unlike other fields like accounting, law, sales, investments...which is a good thing since it is very much a meritocracy

As GA said, in any field you want to have contacts in case you want to switch employers, you have someone to vouch for you
Until you start talking about some of the executive positions. Some of those don't get posted so you need to know people to even know that they're available. Recruiters should have a network so you can rely a little bit on their connections.
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Old 09-24-2010, 07:25 AM
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This thread has been moved to the careers forum.

However, I think it should be pointed out that networking is NOT just about changing jobs. Your actuarial network is a group of people you know. Some will be your co-workers, others (over time) people you used to work with. Also there will be people you associate with on professional activities. When I started out as an actuary, I met a lot of people through a local actuarial club. And got volunteer experience from organizing meetings. Study groups can be a source of contacts. While still in school, other students interested in math and, of course, your professors.

To add to the job change story, when it's time for you to make a move, you don't have to rely solely on recruiters, although they can be very helpful. You touch base with your network to see if anyone knows of opportunities that would fit your career goals. You may not have met anyone at the new job directly, but you know someone who knows someone there. That's why it's referred to as a network.

Good luck.
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Old 09-25-2010, 11:43 AM
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You might want to take a look at a book called "Dig Your Well Before You're Thirsty" by Harvey McKay. If you're in school, you might find it at your career center, and I'm sure you can pick it up used on Amazon. I'll get hammered for this, because the author is an envelope salesman, not an actuary, but the book is great for understanding what networking is about and how it can be useful. By the way, if you're looking for a technological solution, definitely choose LinkedIn over facebook, but you still have to work on it for it to be useful (that's where the book comes in). I think my LI profile has cobwebs on it, and surprisingly, it isn't doing any networking for me .

I think when you talk about "going to a network" you might be thinking about get-togethers called "networking events" that recruiters and job placement agencies hold. I haven't gotten a lot of use out of these, that's mostly user error, but also because it's a lot harder to find technical jobs by this kind of chance meeting, because the job requirements can be so specific. But depending on who's putting together the event, it could be helpful. If you do, I'd treat it very much like a career fair on campus, at least as far as what to wear, take with you etc. (lots of threads here on CFs, and some of it specific to actuaries, which I can't speak to, so I won't repeat).

And apart from finding jobs, networking has been show to make you better at your job in between job searches. I remember a hearing of a study that found that research scientists are more productive when they have larger professional networks.
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Old 09-25-2010, 03:43 PM
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is this a serious question?
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