If you’ve been applying for actuarial jobs lately, you may be getting the feeling that although the market is growing, it is still challenging. The Bureau of Labor Statistics says actuarial jobs will grow 20%+ in the next decade, and your career is in the top 10 of every list, but right now things are competitive. Here are some ways to manage the process and stand out:
- Passing exams shows you’ve got the discipline to be an actuary, but employers also value skills like Python, R, SQL, and BI tools. If you’ve been focused only on SOA or CAS exams without building technical projects, you might miss an important skill hiring managers are searching for; proof you can work with data and not just talk about it.
- The actuarial field continues to expand, but employers are not compromising. If you require a remote option, you will be significantly limiting your options. Hybrid and in office roles are the norm now. Being open to hybrid, in office, and relocation can speed up your search.
- Switching tracks (life or health vs P&C) is harder when hiring is cautious, so if that is your goal, prepare thoughtfully and be ready to take a step back financially.
- Hiring Managers may get hundreds of responses to a posting. Working with a recruiter is a sure-fire way to be visible in the process. Also, review your resume and cover letter to confirm you are mentioning keywords in the post. And include quantifiable results such as“Automated reserving models that cut processing time by 25%” on your resume. Make it easy to see the reasons you are a fit for the job.
- A great way to get noticed is to find a role through a recruiter introduction or through a contact in your network. You can start making more contacts by getting active on LinkedIn and attending SOA/CAS events. Ask for referrals and recommendations that will help you stand out from the pack.
The actuarial market isn’t slowing, but it is evolving. It is more technical, more competitive and more network-driven than in the past. If you combine strong exam progress, hands-on data skills, and a little strategic networking, you’ll stand out from the crowd.
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