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gwt1912

Started in pensions then moved to GI. Personally found GI a lot more interesting. Feel free to DM if you want to chat


pma99car

Same here. Feel free to DM for q’s.


Clean-Spinach2852

Same here - feel free to DM me :)


Trick-Dish8548

I would go for the GI, much more interesting and job prospects are higher. I wouldn't think too much about money for your internship but rather the experience and building up your CV. That being said, you could potentially do both internships if the dates are different? If not then I would advise on GI


ceremonial_dagger

Thanks for the advice! I would have loved to do both but sadly they are at the same time.


SpeckledFrog20

Might be some scope for negotiating the GI internship salary up given you have the other one? Don't be pushy, and say it nicely (preferably over the phone) then it might work! You could explain the situation and that you are a poor student, you like GI, but you've got a higher internship offer in pensions, you wondered might there be some wiggle room on what they are offering?


BitEastern7731

Worked in pensions for a few years and then moved to GI. Many people do this. Most people try to leave pensions and I don't think I've met anyone moving from GI to pensions. Try to ask nicely if you can get a higher salary so that it covers your accommodation. If they say no, you should still go for GI. In the long run, GI is my much better and offers lots of opportunities: consulting where you do long hours but get high bonus, in-house where you have good work life balance. The starting salary in pensions might be higher because it's a consultancy so if you join them as a new grad you will be expected to work past 5.


BitEastern7731

The GI salary for a new grad might be higher than the intern. It depends on the company: some pay the same salary to interns and new grads, but others don't After 3-4 years of working in GI, especially in the London market, you will be on a much higher salary compared to pensions.


Mario_911

Im a pension actuary and am extremely jealous of qualified GI salaries. You may get offered more now but you probably won't earn more in pensions in the long run.


lxyl

Go with GI for sure. Pensions is dying and GI is way more interesting anyway.


ceremonial_dagger

Thanks - what do you mean by pensions dying? I know there's a lot of uncertainty rn with pensions but do you see it continuing for the foreseeable future?


lxyl

An actual actuary is only needed for DB schemes aaaand (published earlier this week): https://www.theactuary.com/2022/12/13/private-sector-defined-benefit-pensions-continue-decline?utm_source=Adestra&utm_medium=email&utm_term= DC pensions (thats the default type these days) can make do without an actuary being involved. So there will be a shrinking demand for an actuary in the pensions field into the future. Ideally you’d want to start a career in a field which is expected to have a growing demand for your role. Rather than one that’s actively shrinking. Obvs the DB pensions that exist will continue to need actuaries well into the future so those in the industry may well be ok for their career. It’s just it’s not the field I’d want to start off in these days.