With everyone and his grandma taking and passing actuarial exams, is anyone else worried about the job market?
One of my clients' daughter works for HR at a major insurance company, and she claimed that the last actuarial job posting got over 1000 resumes in under 1 day.
Almost all the resume-senders passed 2-5 exams.
Her boss was astonished by the response rate and recommended her higher-ups to lower actuary salaries. All actuarial salaries got cut in half recently despite the company making record profits. The HR rep is in-line for a promotion and a large pay increase. Actuaries are crying and threatening to quit, but they can't since every actuarial job they apply to already has 10,000+ other people applying.
What can actuaries do about the worsening job market and job environment? Once employers see you as disposable, you're treated like trash. Should actuaries unionize? Should actuaries force SOA and CAS to toughen up their exams?
One of my clients' daughter works for HR at a major insurance company, and she claimed that the last actuarial job posting got over 1000 resumes in under 1 day.
Almost all the resume-senders passed 2-5 exams.
Her boss was astonished by the response rate and recommended her higher-ups to lower actuary salaries. All actuarial salaries got cut in half recently despite the company making record profits. The HR rep is in-line for a promotion and a large pay increase. Actuaries are crying and threatening to quit, but they can't since every actuarial job they apply to already has 10,000+ other people applying.
What can actuaries do about the worsening job market and job environment? Once employers see you as disposable, you're treated like trash. Should actuaries unionize? Should actuaries force SOA and CAS to toughen up their exams?
Seriously, am I the only one who thinks there's something wrong with the job market?