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  #21  
Old 05-07-2012, 01:06 PM
AAABBBCCC AAABBBCCC is offline
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the food is terrible in mexico.
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  #22  
Old 05-07-2012, 01:47 PM
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Vomik Vomik is offline
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Make more money in drugs in mexico anyway imo
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  #23  
Old 05-07-2012, 04:24 PM
actuwannabemtl actuwannabemtl is offline
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Make more money in drugs in mexico anyway imo
And run the risk of getting dismembered into as many little pieces as possible during a *rrrrrritual narrrrrco sataaaanico*.
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  #24  
Old 05-08-2012, 04:40 PM
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Originally Posted by Peetie Skunk View Post
You will get paid significantly less, but if that is where you want to be, then go there.

Just know that there is a reason people are emigrating from Mexico and not to Mexico. I have spent quite a bit of time in Mexico myself, and I love it, but I would rather work here in the states and be able to afford living like a king when I am there than to move there and live on a Mexican salary.

I will probably eventually move to Mexico myself, but not until I retire.
Recently a study has suggested that the immigration from mexico has slowed significantly, and by some estimates hase even begun to reverse.

It really is quite interesting, apparently tough immigration policies + economonic recession are teh causes.
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  #25  
Old 05-13-2012, 01:19 AM
alejandro alejandro is offline
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There is a dearth of actuarial knowledge in the region. Someone with US experience in doing reserves or pricing will be highly valued in the region. Much of the work currently being done is formulaic. As an example, I find that most insurance people I speak with think that IBNR is Pure IBNR, and do not consider development of claims as part of IBNR. Regulations in many countries are written this way. In the nearly three years I've been working in the region, this is what I have found:

An "actuary" in most of the countries means little more then you took a couple of courses in math (Brazil, Argentina, and Mexico are the exceptions).

Mexico City - I was not impressed with many of the actuaries I've met in Mexico. On the other hand, some are good. The way I read this is that the actuarial education system is no where near as in depth as in the US, and that smart people will educate themselves. There is currently a significant gap in the knowledge needed in the industry.
I disagree with posters that the salaries are low. The job posts you see for 17k usd are for a locally trained actuary, not someone with the expertise you get in the US, or trained by a US firm. I'd expect to get something closer to 70% of a US salary. For many companies, a large portion of the total compensation is non-salary benefits (a car, an allowance for lunches, an allowance for school) - I believe it has to do with taxes. Mexico City is not dangerous. I've only been once, but if you stay out of the wrong neighborhoods you will be fine. You should do additional research on this, rather then relying on hear-say. Go visit - maybe setup an informational interview with a few companies.

Big international insurers also have offices in latinamerica: Ace, Zurich, QBE, Chartis, Santander(?). Not to mention local companies, many of which dominate their markets.

Buenos Aires - Argentina, like mexico, I was not impressed with many of the candidates I interviewed. They said they could do reserves, when in fact all they knew how to do was follow a formula. There is no judgement in the local reserve calculation. This would be another city where an actuary who can apply judgement will do well. Here, again, I know a handful of actuaries whose work I consider very good. You'll find the best trained actuaries in this country.
Buenos Aires is a really fun city, lots of history, and a fun night life. I love dining on steak and wine during my visits. I'm worried about the economy. Inflation has been over 15% for 5 years now, and 25% the last three. The government just nationalized a spanish oil company.

Santiago - There is no real training program in Chile. The actuaries I know in Chile are from Buenos Aires. It's the city I'd take my family to live in. The city is safe. Chile and Uruguay are by far the least corrupt countries in the region. The weather is like LA, it's dry wonderful weather. You're close to the mountains, and close to the beach. The chileans are laid back, and enjoy their wine - oh, you're looking for job info. I think a well trained actuary would have no problem finding a job in Santiago, and cost of living is low.

Brazil - I know one Brazilian actuary - he's very good. I don't know about their training system. You may end up in Sao Paolo, which is not as interesting as Rio de Janeiro.

Colombia - I've met a few actuaries trained in their system, and have not been impressed yet.


The theme is this: Latinamerica needs actuaries who can provide judgement. If you make it known that you are available, that you have US training, then I think you will find work. I don't think you mentioned if you have your letters. I think it'd be good to have them, since it will carry weight, but this is not necessary. I also think it would make sense to have a regional or sub-regional role. This has the advantage of giving you exposure to more countries, but also it enables your employer to pay you a salary closer to US level due to the high level of responsibility.

I get calls regularly looking for a regional actuary for latinamerica.

-Alejandro
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  #26  
Old 05-13-2012, 02:39 AM
melchizedekofsalem melchizedekofsalem is offline
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Out of curiosity, would Spanish be a requirement? Or would it be more like the continent where it would be very beneficial but one can still get by with just English.
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  #27  
Old 05-13-2012, 07:42 AM
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Originally Posted by AAABBBCCC View Post
May I ask why you want to go to Mexico city - one of the most dangerous cities in the World ?
You clearly have no idea what you're talking about, there are dangerous parts of Mexico, Mexico City is fairly safe.
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  #28  
Old 05-13-2012, 07:43 AM
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the food is terrible in mexico.
Again, no idea what you're talking about, can you just not stand the thought of not waking up to crispy cream donuts?
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  #29  
Old 05-13-2012, 10:16 AM
johnny storm johnny storm is offline
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Out of curiosity, would Spanish be a requirement? Or would it be more like the continent where it would be very beneficial but one can still get by with just English.
Lots of companies you'll find the important people are bilingual, so maybe you could get by with only English, I don't know.

But really, why would you want to live in Mexico City (or any of the other cities discussed in alejandro's post) if you can't experience the culture, talk to local people, understand what's going on, etc? What's the upside of living somewhere as a tourist?

I've had three friends do international stints (one was an actuary) where they didn't speak the language. Pretty much universally hated it until they spoke the language (which takes some time, the one who became fluent was there for three years before he was having a good time).
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  #30  
Old 05-13-2012, 04:22 PM
alejandro alejandro is offline
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Regarding language, Johnny makes a good point. Also, many companies run their latinamerica operations out of Miami (that's where I am). It might make sense in Miami.
It never hurts to try though.
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