Here's the background for this question: I'm at a point where the route I'm on and actuarial are diverging and I need some advice from those that make hiring decisions on how my decision may close (or open) doors to different actuarial roles specifically (this isn't datascienceoutpost after all).
The short version of the story is: I have two positions available to me. The one I am in currently is a position that (for simplicity) we'll call a Data Science position or at least it's moving in that direction more every month. We're getting new toolsets to work with R, Python, SAS, etc to do predictive modelling with more freedom from regular reporting responsibilities. The other position is a typical actuarial analyst role on a smaller team with more responsibility than just update and run code/workbooks (specifically government LOBs & pricing).
The differences, other than day to day responsibilities, include that I'd still have exams/study material paid for and PTO to pass them but no raises in my current position. I'm also moving away from the work that overlaps with actuarial internally and what I've seen mentioned in other Actuarial postings. I'd also likely be taking a 10-20% paycut to move to actuarial, as I currently make more than the pay bracket I'd be moving to. Though my overall salary currently isn't astronomical by any means (under 70K) I am married with a young kiddo and taking steps backwards in salary aren't ideal.
Both jobs are at a health insurer.
My decision is based on the following thoughts: I'm not convinced I want to work in Health long term (Life/P&C/non-actuarial all options) how does this decision affect moving out of health if I want; how much does having a title of actuarial ______ matter in getting that second job if I decide to go actuarial in future (health/otherwise); how difficult are the overlapping actuarial modelling jobs to get in places I want to live (probably not a question AO viewers can answer); how do my "years of experience" translate when applying to actuarial positions (is it valuable to get ASA while working in a non-actuarial predictive modelling role?); will not having a PhD really restrict long term growth in data science roles; etc.
I'm fairly early in my career and I'm trying to make the smartest decision balancing the short and longer term employment opportunities/earnings/personal life goals. It's not all about money (short/long) or the decision would be easier to make but it does factor in to my decision. I do think at my current company I'll be at the same salary in either position in 3-4 years if I stayed that long (somewhat likely).
That's all I'm really comfortable posting publicly but I'm interested in additional PMs where valuable.
Key actuarial information: 3 exams passed (P/1, FM/2, C/4) and studying (albeit slowly at this point) for MFE/3F (taking it in July?). 1-2 years non-actuarial data analysis experience in health.
The short version of the story is: I have two positions available to me. The one I am in currently is a position that (for simplicity) we'll call a Data Science position or at least it's moving in that direction more every month. We're getting new toolsets to work with R, Python, SAS, etc to do predictive modelling with more freedom from regular reporting responsibilities. The other position is a typical actuarial analyst role on a smaller team with more responsibility than just update and run code/workbooks (specifically government LOBs & pricing).
The differences, other than day to day responsibilities, include that I'd still have exams/study material paid for and PTO to pass them but no raises in my current position. I'm also moving away from the work that overlaps with actuarial internally and what I've seen mentioned in other Actuarial postings. I'd also likely be taking a 10-20% paycut to move to actuarial, as I currently make more than the pay bracket I'd be moving to. Though my overall salary currently isn't astronomical by any means (under 70K) I am married with a young kiddo and taking steps backwards in salary aren't ideal.
Both jobs are at a health insurer.
My decision is based on the following thoughts: I'm not convinced I want to work in Health long term (Life/P&C/non-actuarial all options) how does this decision affect moving out of health if I want; how much does having a title of actuarial ______ matter in getting that second job if I decide to go actuarial in future (health/otherwise); how difficult are the overlapping actuarial modelling jobs to get in places I want to live (probably not a question AO viewers can answer); how do my "years of experience" translate when applying to actuarial positions (is it valuable to get ASA while working in a non-actuarial predictive modelling role?); will not having a PhD really restrict long term growth in data science roles; etc.
I'm fairly early in my career and I'm trying to make the smartest decision balancing the short and longer term employment opportunities/earnings/personal life goals. It's not all about money (short/long) or the decision would be easier to make but it does factor in to my decision. I do think at my current company I'll be at the same salary in either position in 3-4 years if I stayed that long (somewhat likely).
That's all I'm really comfortable posting publicly but I'm interested in additional PMs where valuable.
Key actuarial information: 3 exams passed (P/1, FM/2, C/4) and studying (albeit slowly at this point) for MFE/3F (taking it in July?). 1-2 years non-actuarial data analysis experience in health.
Need some career advice and data points to make a decision