The Notorious Actuarial Job Market

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The job market for our generation has been notoriously described as rough and fruitless. This is doubly true for those who fall into the category of “Aspiring Actuary”. We entry-level position seeking recent graduates find it near impossible to acquire that first entry-level position. What can be done to aid the seemingly endless pursuit and chase of applications and to end the stream devastating rejection emails from an automated system?

If you are already at this point:

  • Keep plugging away. Continue studying, prepping, passing, and applying. Something WILL work out for you.
  • Get professional resume/ cover letter advice. This could be your problem summed up in one step! The difference between you and the individual who got the interview could be as simple as a typo or poor format. Make sure all of your skills and assets are listed in primary sections of your resume. Questions to ask your self: “What courses were relevant to this field that would be a good talking point?”…Include it, “Did I do any projects in my courses?”…Include it, “Did I have any relevant group work/leadership?”…Include it.
  • Consider another analytical job to use as a resume builder while you continue looking for an actuarial position. Odds are that if you’ve been able to handle the rigorous process seeking actuarial qualifications then you are well qualified for numerous other positions.

If you’re not there yet, but don’t want to be in the future:

  • There’s no better advice I can give you than to begin the exam process early. If you can have an exam or two completed before or during your junior year, this is the most important asset to attaining an internship.
  • This leads to the implication that internships are the most important asset to attaining an entry-level position post graduation.
  • Work on other analytical projects while at school. The mathematics department at your school without a doubt participates heavily in undergraduate research. Talk to your professors and see what types of projects are available to you. If you’re like me, you’ll even enjoy doing the research!

My whole point in this blog is this: Don’t take no for an answer. There is so much more you could be doing than just sitting around and being discouraged from the grueling process. You didn’t choose this route because it was easy nor because you wanted to be lazy. Keep working and it will pay off even more than you can imagine.