What will 2015 actuarial salary numbers tell us?

In 2014, according to our annual salary survey, more respondents earned $300K plus than ever before. We are now collecting information about 2015 actuarial salaries, which we will share on our website. This is our fifth year of collecting and charting this information, and what’s so exciting is that we are able to present year-over-year actuarial salary comparisons.

Each year our actuarial salary survey attracts more respondents. The information we collect, chart and share with clients and candidates is our way of sharing our knowledge of the marketplace. It allows us to help our candidates and clients, giving them the ability to make better decisions.    

Our respondents come from all over the world. They volunteer to participate on a strictly confidential basis. Participation also makes them eligible to win one of several prizes.

Our presentation of the results includes unique online query tools that allow you to see how location, education, experience and area of expertise influence salary. Our charts are so flexible and unique, it’s exciting. 

Each year the number of respondents increases. We’ve been told by participants how valuable this information is, and we encourage everyone to participate this year and every year. If you have not done so in the past, here’s the link. Take a look and what we’ve presented so far, and then jump into the survey.  It’s one way you can help us help get the most accurate information, and also discover if you are actually earning what you are worth!

Check out our latest job postings and access our salary survey and results on our website: 

http://www.actuarialcareers.com

Advice From the BEST

Free advice. What’s it worth? Sometimes it really depends on who it’s coming from. Sometimes it is worth the price you pay for it, but maybe not when it is from people who’ve achieved success beyond most of our wildest dreams. If you are ever lucky enough to meet any of the people listed below, you’d probably want to ask them for “a word” of their advice. Until you do, there are these to consider. We excerpted these from an Inc. article if you are interested in the background on each quote.

We think it’s interesting to read them to see if one or more resonate with you. If so, what could that be worth mean in terms of motivation and inspiration for your career? We think that they’re worth their weight in gold.

1.    Warren Buffett: Exercise humility and restraint.

2.    Maya Angelou: Make your own path.  

3.    Richard Branson: Never look back in regret -- move on to the next thing.

4.    J.K. Rowling: Embrace failure.

5.    Steve Jobs: Don't just follow your passion but something larger than yourself.

6.     Suze Orman: With success comes unhelpful criticism -- ignore it.

7.     Bill Gates: Keep things simple.

8.     Arianna Huffington: Don’t work too hard.

9.    George Stephanopoulos: Relax.

10.  Alexa von Tobel: Get up, dress up, and show up.

11. John Chen: Being a superstar can hurt your career.

12. Deepak Chopra: Embrace the wisdom of uncertainty.

13.  Cynthia Tidwell: Be patient enough to learn, but impatient enough to take risks.

14. Diane von Furstenberg: Keep it real.

15. Rick Goings: Be nice to everyone.

At Actuarial Careers, we offer you insights into the marketplace, with our free access to our salary survey results. 

What you might not know about Bill Gates

Typically the best careers for introverts are those that allow the individual to work independently. That certainly could apply to an actuarial career. However, Bill Gates is an introvert. Does that surprise you? If you are an introvert, you are in good company. According to Forbes magazine, other notables like Warren Buffet and Yahoo CEO, Marissa Mayer are introverts too, proving that you can get to the top without having an extrovert’s bravado.   

Susan Cain, author of Quiet: The Power of Introverts in a World That Can’t Stop Talking, (TED Talk) brings to the forefront that introverts often have natural strengths when it comes to being calm, thoughtful and prepared . . .  all good leadership qualities. Getting superiors to recognize is the challenge.

Honoring your natural tendencies is always the best strategy, knowing where the gaps are can help you prepare for that promotion or the next step in your career. Forbes says “success is an inside job”. If that’s true, introverts are ahead of the game when it comes to the ability to shine the light of introspection on their strengths and use that knowledge to foster self-confidence. It doesn’t always take heroic grandstand efforts to get to the top. There is no substitute for passion, which comes easily to introverts, and becomes a powerful force when harnessed at work.

Finally, when it comes to influence and advancement, there is no discounting relationships. Introverts cherish meaningful relationships and sharing the fruits of their thoughtful ideas. Finding the right connections to share them with is important. Having the right, strong business relationships is the easiest way to allow others to experience your value. Whether or not you believe the adage that it’s not what you know but who you know, it is definitely worth the temporary discomfort of networking or taking the initiative to make the first move. 

Easier than networking, meet our team.

  

Workplace Gossip. How to Avoid it.

Gossip. It’s never a good idea. Maintaining a professional image means keeping conversations factual and business related. Staying away from personal or speculative conversation about co-workers can be the fast track to professional disaster. If you engage in gossip, you risk your own reputation for being untrustworthy and unprofessional. Why jeopardize your career?

When someone starts spreading workplace gossip or wants you to engage in it, what can you do? Here are a few strategies you can use to avoid getting drawn into gossip.

1. If gossip erupts during a conversation you are involved in, make a work-related excuse and walk away.
2. Change the subject. A pleasant interrupt, like last night’s sports scores or an upcoming work agenda can change the course of the conversation.
3. Just come out and say that you aren’t comfortable talking behind other people’s backs. (Remember that people who talk about others in conversation with you are most likely to do the same about you behind your back).
4. Confront the subject of the gossip by saying, “I hadn’t heard that, let’s go and ask him or her.”

           Visit us at www.actuarialcareers.com 

Why Didn't I Make It Past the First Round?

Guest Post from Robyn Taylor, Senior Vice President, Actuarial Careers   robyntaylor@actuarialcareers.com

 Did you ever wonder why you didn’t make it to the next round of interviews for a new job?  You looked great, you showed up on time, and you gave the hiring manager a firm handshake – all the while smiling and showing what a good fit you would be for the role.  Well, there are some finer points to advancing through the interview process that take a little more work and preparation.  Here’s what you need to do next time so you don’t get eliminated so early.

1)     Research the employer.  The internet is your friend.  In this day and age, if you can’t take the time to read over the company’s general background information you are doing yourself a disservice.  At the very least, you should know who owns the company, whether or not it is publicly traded, and any big news items that have appeared over the last 12 months.

2)    Know your resume inside and out, and be able to provide concrete examples of your skills.  Employers want to know that you have the substance to back up the words on your resume.  Too often, I hear managers say “Gee, she looked great on paper, but she really couldn’t tell me what she had been doing!”  Also, be prepared for technical questions related to your work.   If you say you know SAS or SQL, for instance, you need to be able to field questions on the topic.

3)    Be ready to ask intelligent questions.  You should have at least three or four questions regarding the job or the company prepared in advance.  Good topics are day to day duties, the actuarial career path at the company, and if the company anticipates any new projects or initiatives over the next six to twelve months.  Inappropriate questions are related to salary, benefits, and vacation time.  Save these until you receive an offer.

The truth is, you can never be too prepared for an interview.  If you want to be the one offered the position with the actuarial team you’ve admired so far, you need to show you are a candidate who brings thoughtfulness and substance to the table.  With a little pre-game work, you can do it! 

Contact Robyn and view job listings on www.actuarialcareers.com   

 

Snacks to the rescue!

 

The best way to keep your energy up all day at work is simply not to allow it to go down. Your workload, concentration, environment and fatigue all chip away at your energy level all day long. Could your midday snack actually be making you more fatigued?

You can literally feed your mental clarity and productivity by adding the right snacks between meals. Junk food like candy bars or greasy potato chips will only serve to sabotage you by flooding your body with insulin, causing a brief boost of energy, immediately followed by feelings of drowsiness and hunger. Proteins, fats, and fiber rich foods often have a low glycemic index. The slower release of sugar into the bloodstream will help satisfy your appetite longer and provide longer periods of sustained energy.

When it’s time for an energy-boosting snack, choose one of these:

·         A piece of fruit like an apple or banana

·         An ounce of almonds or walnuts

·         Kale chips

·         Hummus and veggies

·         A hardboiled egg

·         Unsweetened yogurt

·         Baked, whole wheat crackers

 What’s your favorite midday snack?

 

How to keep your energy up all day.

 

As much as the actuaries we know love their jobs we know firsthand that there are those days, or times of day, when energy wains and it’s a struggle to focus and be productive. Unless you work for the most liberal of organizations, napping isn’t an option. You could opt for a lunchtime snooze, if you don’t totally skip a meal, as that will only leave you more depleted.

What else can you do? It goes without saying that the best hedge against fatigue is a good night’s sleep. When you are feeling tired, it’s a good time to promise yourself an early bedtime for the coming night, and even make a plan around it: perhaps a few full body stretches before dinner, no TV or at least nix the drama shows, get in bed early with some soft music or headphones and a guided meditation to lull you into a relaxed state.

That might help for the next day, but here are some recommended strategies to get through the current workday. Number one is getting and keeping hydrated. Health practitioners recommend one ounce of water for every two pounds of body weight.  For example, if you weigh 150 pounds you should be drinking 75 ounces of water per day. It takes commitment, but you can start immediately and quickly feel results. Drinking more water will have you getting up more often to use the rest room. That’s great because it gets you up and away from your desk. Taking a quick walk is another energy boosting strategy. While you are up, try running up and down a flight of stairs. Doing so will increase your heartrate and get you breathing more deeply- which is another strategy you can repeat sitting at your desk.

Many people turn to caffeinated drinks for a boost, but remember caffeine is also a diuretic so it will undo some of the hydration you are working to gain.    

Finally, when you do sit back down in your chair, make sure you adjust the height so you’re in a 90-90-90 position; feet flat on the floor or on a foot rest and your knees and hips bent at 90-degree angles. Keep your lower spine flat against the back of the chair to maintain proper curvature. This helps to keep your newly amped energy flowing through your body.

In our next post, we’ll share what we learned about energy-boosting snacks that will help too.

How do you pump up your energy at work?

Part Two: Six confidence-boosting tips for speaking up in meetings.

In Part One, we talked about what you can do before the meeting starts: do some advanced prep on relevant topics surrounding the meeting agenda; arrive a few minutes early and plan what you want to contribute.  The next three tips will help you during the meeting itself:

Pay Attention.  You already know that interacting with your own personal technology (cell phone or computer/tablet) is never a good idea at a meeting, but they aren’t the only distractors. It’s easy to float off into our own thoughts if we aren’t actively engaged in what’s going on around us. To contribute and you must be engaged in the meeting and what is being discussed. It’s essential to your success as a contributor.

Don’t underestimate the value of your ideas. How many times have you been on a project or had an idea during a meeting you were in, but you were afraid to voice it? Then someone else did and the idea was a hit. Hit or miss, remember that you have been included in the meeting for a reason. Your skills, knowledge and role are valued. Your ideas are a part of your success already. Once you have the confidence to share your thoughts, you will want to consider speaking up early in the meeting, before someone else shares the same idea. Also, the sooner you contribute, the better the impression you will make and the quicker you can eliminate your lingering self-doubt.

Ask questions. One way to contribute in a meeting and not have the focus be on you or your answers is to ask questions. Thoughtful and pertinent questions are another way to showcase your ability to think “around the corner”, demonstrate your abilities to consider the future and eliminate roadblocks. Showing that you are interested and engaged is the best posture for success. As you share more, you will notice that people will begin to engage you and seek out your opinions.  

Part One: Six confidence-boosting tips for speaking up in meetings.

Some of the actuaries we interview tell us that they are not as comfortable speaking up in meetings they would like to be. If you are one of the hesitant ones, you are missing some golden rungs on the advancement ladder. The preparation to change that is not as difficult as it might seem. Here are the first three of six tips for ramping up your successful participation:

Be prepared. Make sure you are up to speed on recent developments that might impact the meeting topic. Have any materials or backup information available that could be relevant to the goals of the meeting. Make sure you know the attendee list. Check the list to see if there are people you don’t know. It’s always a good idea to know who is in the room, and what role they play. Knowing your audience will help you think about and present your ideas in context.

Arrive a few minutes early. Why should you arrive early? First it assures you a seat at the table, and allows you to choose where you want to sit. Remember, the head of the table is typically reserved for the person who is running the meeting. Arriving early gives you the edge and allows you to make good impression by greeting others as they arrive. Also, if someone you don’t know is attending, you can make your mark by introducing yourself.  Another reason to be early is that, while many people think that rushing in at the last minute makes them look important, it actually makes them look like bad time managers, and not in control of their resources. Those are two unfavorable characteristics for a leader.

Decide ahead of time that you will contribute.  If you are hesitant to speak or shy you will likely be passed over in the meeting, and that may contribute to being overlooked in other areas. Often meetings include people, some influential, whom you may not work for or with. These people will see your behavior in the meeting as indicative of your capabilities. You must find your own way to contribute. If you hate speaking up, maybe you can draft some ideas on paper and distribute them at the appropriate time. It takes a little planning to get started as a contributor, but it will be well worth the effort.

To be continued.

Oh NO! It's going to be a lunch interview.

It doesn’t happen often, but sometimes an interview involves a meal. When it does, you need to know how to handle the extra logistics of eating and interviewing. Here are a few tips to help you.

Hopefully, you will have advanced notice that the interview involves a meal. If you have been told the name of the restaurant, it’s smart to go to their website and decide in advance what to order. This removes the pressure of reading the menu and making choices on the spot. It’s a really good idea to choose a small meal that is easy to eat with a fork and knife, instead of a sloppy sandwich. Remember, that you will be doing a lot of the talking, so it’s good to choose something easy to chew! You would never want to talk with your mouth full, but chewing can be a good tactic to give you time to think about how you can answer a difficult question.

 

Be polite to the wait staff. Order without a fuss, no demands or mention of food issues or allergies. And if you are in doubt, sparkling water is a great choice for a beverage. It’s adult and non-alcoholic.

 

Because there will likely be more social time than a regular interview, it’s smart to have some relevant or casual current events you can introduce while waiting for service. Keep it simple and non-political.  

Finally, it’s perfectly fine to allow you’re interviewer to pick up the tab, you are the guest.

Do you want to be at your best for that upcoming interview?

Food might not be on your checklist when you are prepping for an interview. Perhaps the idea of a job interview might even take away your appetite, but don’t skip good nutrition before the appointment. What you eat can have a marked effect on your performance. To be at your best, plan to eat at least an hour before, so that the good-food energy is flowing to your brain.

It doesn’t matter if it’s a morning or afternoon interview, you can’t neglect the boost in energy and alertness that healthy food will provide. Don’t just grab a bagel or muffin. Carbs are quick energy, but won’t give you the staying power you may need. In fact, studies show that two hours after consumption, eating carbs results in tryptophan levels four times higher than eating protein. Tryptophan is actually an amino acid that is used in sleep medications!

What should you eat? Opt for protein. For breakfast, a spinach and egg white omelet is a good choice.  Proteins have staying power and will ramp up your mental alertness. If it’s an afternoon interview, salmon or chicken is good, but stay away from turkey (the tryptophan again!).

Of course, caffeine is one thing that boosts alertness, so if you like it, have a cup of coffee. Researchers have found coffee enhances short-term memory performance, and helps improve attention capacity and problem-solving skills. But don’t overdo. Too much coffee will not only make you a jittery, nervous wreck; even worse, you may find yourself in the position of needing a mid-interview bathroom break.  

What do you have in common with Peyton Manning?

You may not think that an actuarial career has anything in common with the career of an NFL super-star quarterback like Peyton Manning, but it does, or at least yours should.

At the 2015 Leadercast Live event broadcast worldwide from Atlanta in May, Manning’s 20-minute presentation was one of eight from impressive leaders who spoke on the conference theme “The Brave Ones” all about breakthrough performance and leadership.

Manning is a lively and engaging speaker. His talk enlightened the audience about the focus, dedication and determination it took for him to become the best at his craft. He made it clear it wasn’t supreme talent as much as a singular relentless pursuit to improve his skills. He attributes a major part of his success to his father, and the coaching he received from him and others. Manning says that even today he absolutely wants and relies on coaching. As a matter of fact, he gets angry if he doesn’t get it.  “It doesn’t matter how seasoned we are, everyone needs a coach . . . As soon as someone stops wanting to be coached, taught or mentored I think they are in big trouble,” said Manning. 

What he made so clear was that the invaluable thing about coaching is the perspective gained from having a person who is looking out for our best interests. Our coaches can see the areas where we could benefit from some feedback and guidance on how we can become he best we can be. Everyone’s career goals should include the guidance of a coach.

Our survey says . . . seeing is believing.

Everyone wonders how their compensation stacks up to others in their industry. Actuaries never have to wonder. They have the benefit of actual salary survey information collected from their peers, and the amazing survey query tools we provide. We don’t just publish reports, we allow actuaries to query the data we’ve gathered. It easy to see what’s going on with the salaries in each specialty area. It allows them to compare, and begin to target their future dream jobs.

 

 

 

 

 

 

 

 

                                        Our data is collected from actuaries who respond to our confidential salary survey, as well as the data we gather on a regular basis from the actuaries we interview and place. We also include salary information from the companies we recruit for. 

The highly interactive charts allow exploration of actuarial salary ranges in relationship to: industry/specialization, geographic location, professional designation, number of exams completed and years of experience.  We hope you will take a look and explore the information and possibilities!

http://www.actuarialcareers.com/interactive-tool-new.php

 

A little cell phone etiquette

It’s not unusual for companies to have cell phone polices that dictate how you can use your personal cell phone during office hours. Whether or not you are allowed to use your phone at work, it’s always a good idea to practice good cell phone etiquette. Here are a few reminders:  

·       Be considerate of those around you if you are at work, set the notification on vibrate.

·       In the company of others, it’s considerate to only use your phone for important calls. Casual chatter can wait. If you aren’t sure, let the call go to voice mail. If you do answer an unimportant call, it’s okay to tell the person it’s not a good time for you to talk. Get off the call quickly.

·       If you have to take a call that you believe to be important, apologize for the interruption and indicate that you believe the call can’t wait.

·       If you are at work, find a private place to make your call. It’s just considerate find someplace to talk where your conversation can’t be overheard, even if what you are discussing isn’t personal.  

For whom the bell tolls . . .

You already know that shutting off your cell phone is an absolute must before an interview. In fact, we suggest that you just leave it in the car. If you don’t have it to distract you, you can be fully present while you are waiting to be interviewed, and won’t have to remember to shut it off.

But what about when you get a job? Do you take your cell phone to a meeting? If you are part of the Millennial generation, mobile devices are second nature to you, a natural extension of your life. Studies suggest that Millennials tend to think that using a smartphone during a meeting is okay. Those over 40 years old don’t agree. Why is this difference important? Because Millennials need to be aware of the opinions of the people who are in a position to advance their careers.

When asked about cell phone usage in meetings, a nationwide survey of 554 full-time professionals working in companies with at least 50 employees showed that the more money people make the less they approve of smartphone use. In fact:

• 86 percent think it's inappropriate to answer phone calls during meetings

• 84 percent think it's inappropriate to write texts or emails during meetings

It’s also important to know why people find smartphone use in meetings to be inappropriate. The feeling is it indicates:

• Lack of respect. It demonstrates that what’s on your phone is more important than what’s going on in the room.

• Lack of ability to focus. It can be seen as evidence that you are unable to stay focused.

• Lack of listening. It’s a clear sign that you aren’t actively listening and can’t fully or appropriately interact.

• Lack of control. It indicates you are a “slave” to responding to the “call” of your phone.

• Lack of self-awareness. It shows that you are unaware of how your behavior negatively reflects back on you.  

What you might not know about your own body language. Part Two

Your body language can be a game changer in your success. It can help you make a great impression, and as we learned in our Part One post, in Amy Cuddy’s TED Talk, body language can help you change your attitude. It can even change your body chemistry.  

One of the easiest body parts to use in body language can have the most impact on you and the people you meet. It’s your smile. Smiling is the body language that comes with a free health benefit for you. Smiling actually releases endorphins, which make us feel happier and less stressed. When your level of endorphins increases the stress hormone cortisol decreases. When you feel better you look better and you perform better. This is particularly helpful during a job interview. Smiling more may even make you a more desirable candidate for a promotion. Smiling helps you be more relaxed, convey confidence and can help build healthy relationships. People like to be around happy people, so challenge yourself to smile more often. Smile even if you aren’t feeling it, because your brain doesn’t know the difference between a fake smile and an authentic one, so fake it until you make it. And encourage others to pass it on. 

What you might not know about your own body language. Part One

You probably know that body language is an important part of communication, but did you know it can be up to 70 percent of it? Posture, gestures, eye contact and facial expressions all play a significant part in how we communicate and how other people perceive our communication. For instance, slouching in your chair during a meeting can communicate lack of confidence or interest. Standing with your hands on hips can communicate a stance of power. 

It’s useful to recognize and use body language effectively in communication, but did you know your own body language can actually have a profound impact on you, too? According to Amy Cuddy, social psychologist and Associate Professor of Business Administration at Harvard Business School, your body language can shape who you are. And, in a mere two minutes, you can significantly change your mood and your mind by simply striking a pose. In her TED talk, “Your body language shapes who you are,” Cuddy talks about how to use your own body language to prepare for an interview. Doing so can actually change your physiology and your brain chemistry, and enable you to improve job interview performance. 

If you haven’t seen this TED talk, take 20 minutes to view it. It’s packed with interesting information and her inspiring story.  

Click Link to Watch: http://www.ted.com/playlists/171/the_most_popular_talks_of_all

Do You Hear What I Hear?  

Or, How Are Your Business Communication Skills? 

Business is all about relationships and relationships depend on communication. Communication isn’t just about talking, it’s also listening and verifying that those in the conversation are “hearing” the same meanings.   

If you’ve ever been in a situation where someone misinterpreted what you said, you’ve experienced a communication challenge. Communication skills can be learned or improved, but the first step is awareness. Listen first to yourself, what you say and how you say it.  Are you choosing the best words for your purpose? What tone are you using and what’s your body language conveying?  You might want to try asking the other person for feedback or to repeat back to you what they heard using their own words. This not only helps you know if you are being clear, it tells you how differently others can interpret your choice of words. You may discover clues to how you can improve your language and other communication skills.  

Second, listening to others is vital to good communication, because it accomplishes the most fundamental communication tenant, which is to know your audience. STOP thinking about what you want to say next, just listen. When you listen intently, you can learn a lot about the other person’s purpose and point of view. This can make it much easier to understand them and in turn communicate back to them successfully. If you find yourself confused or are not comfortable with how you interpret their intent or their conversation, stop and repeat back to them what you heard in your own words. It’s the quickest way to make sure that you both understand each other. Understanding is the common denominator of good relationships.   

Elevating Your Speech.

You may already know that the term “Elevator Speech” refers to the powerful and succinct way you introduce and communicate the value of your expertise in conversation or when presenting yourself professionally. 

Do you know why it’s called an “Elevator Speech”? The scenario to imagine is that you and an influential person you want to impress find yourselves alone together in an elevator. You have only 60 seconds to engage and pique the person’s interest in you. If you aren’t successful, when the doors open you lose the golden opportunity, forever. How do you present yourself, what you do and why they should care in a way that makes them want to continue the conversation?  

Your 60-second speech can change based on where you are and to whom you are speaking, but there are always two important aspects to consider. One, among those who do what you do, what makes you different or special? Two: how can you help the person you are speaking to relate what you do to something of value to them. That second consideration means that your speech needs to be flexible, 

because the most important aspect of communication is to know your audience. Have you ever spoken with a person in a technical profession who uses jargon and terms that are a mystery to you? It’s the quickest way to lose your audience.  Some people really aren’t knowledgeable about the actuarial profession. In that case, you can supplement your explanation with a real-life example. That will help them begin to think about how they might help you. In addition to the explanation, you can then say what makes you and your skills standout from your peers and the impact that has on those you help.  

Taking time to craft your 60-second introduction can really help you on a job interview as well, because knowing and articulating your value is essential to a winning interview. Two more thing to remember: practice your spiel and always be authentic.