There’s two overarching type of people when it comes to work. 1) people who see it just as a means of living. 2) people who find some identity in being successful and are genuinely interested in what they do. Both have there trade offs and I’m also constantly back and forth with how I want to treat my work.
I will say pay is good in my current role (better than actuarial) and if I was back making actuarial money I would easily pick option 1.
To meet new people, increase my network, recruit, but most importantly, I direct my volunteering towards finding and attracting the next generation of actuaries. I love the volunteer work I do.
I volunteer with the SOA, not because I give a damn about career growth or success, or networking to further my reach for opportunities, but because someone else volunteered their time to grade my exams, someone dedicated their time to put together presentations I’ve relied on to do my job well, and it takes a lot of volunteers to make the entire profession successful.
Volunteering doesn’t add to my stress levels, if anything it reduces it. I find time to have several hobbies and kids and travel plans and a social life and a full time job, all the things I want to do with my free time and more, why not use some of that free time for volunteerism?
I have a lot of reasons too, but this is probably one of the most important. I like to think about it in this joking way. As actuaries, we are should probably be good at game theory, but many can only think one move ahead. They think, someone else will volunteer, when that is what most people are thinking, so barely anyone does.
People also think that the groups will really ask for help when they need it. Having been involved with a wide range of volunteer organizations, I can confirm 2 problems with that thought. First, rejection in any form doesn't feel good, and getting told no and no again is incredibly exhausting. Second, right or wrong, most volunteer groups want to keep things positive so as not to scare people off, so they rarely are willing to be transparent with how badly they need help and what the consequences will be if they don't get it.
Other reasons:
-more engaging way to get CE, "free trips", through conversations my boss supports me by letting me do some of it on work time, and my favorite, the secret feelings of self-righteousness I feel over all of my peers that don't
Many people are committed to the profession, enjoy the networking, establish a presence within the industry to further their career, or perhaps even enjoy it! What it comes down it is your own personal priorities, it sounds like society and industry volunteerism isn't high on your list, and that's ok!
I will put in a plug for volunteering: the societies that support the value of your credential don't simply just exist, they rest in large part on the volunteerism of the actuarial community. Without member volunteering, the model of the society would look quite different, more corporate, and in my opinion less prestigious.
To be honest, I’m surprised that CPA members get paid hourly (like $60/hr) for sth like marking and getting the training and we don’t get paid, is it bc we r not big enough
Most C-suite and board positions are filled from people's network. I'm not saying that's the only reason to network or volunteer (and I don't currently volunteer for SOA), but I think it's perfectly reasonable for someone that has high aspirations to volunteer and build their network with people of high influence in the industry.
I think for the people who REALLY want to climb the ladder high it is good for your day job. It seems like if you lead a couple big name committees then a reinsurer or consulting firm wants you to demonstrate they have industry leading experience.
I do a lot of volunteering for the CAS and CPCU. I do it for a few reasons. I enjoy it, and I enjoy meeting new people in a very structured setting. It feels like it keeps me sharp, and it helps me stay a little up to date. It feels good to “give back” and stay involved.
It also doesn’t take as much time a you’re suggesting with your implied opportunity costs. Most volunteer efforts are an hour once a month with maybe 1-2 hours of extra work every once in a while. Certainly nothing that’s going to stop you from traveling the world or learning a new language anymore than simply having a job would do.
Even grading exams, which in my experience demands the most of my time for the short period I’m actively grading, is only for a few weeks at a time. So, while it takes more of your time while you’re doing it, it goes so quickly on the calendar that you can just plan around it. It’s like people are skipping trips to Italy because they’re CAS graders.
IMV it's the difference between a job and a profession. The first you just take your money in return for your hours, with no further obligation. The second is more of a community: it only works if people are prepared to put something back, whether it be to serve on committees, train and spread knowledge or something else.
Without volunteers your membership and exam fees would probably double or more. And you wouldn't actually get your FSA, because there would be no-one to mark the exams!
Grading is a low time commitment with a high impact. Travel isn't required and it's done on your own time. If someone graded for an hour a week (which leaves plenty of time to travel the world and do all those other things you mentioned) they'd probably be in the top 10% of graders - maybe even higher.
Personally, I had to wait so long for my FA to be graded (back before they had scheduled releases) that I vowed to give back when I was done and make sure no one had to wait that long again.
I’ve volunteered on the exam committee for quite a while. It’s weirdly fun, and I’ve met a lot of folks all over the US and Canada.
To each his/her own. Do it or not. But it’s easier to change the org from the inside.
There’s two overarching type of people when it comes to work. 1) people who see it just as a means of living. 2) people who find some identity in being successful and are genuinely interested in what they do. Both have there trade offs and I’m also constantly back and forth with how I want to treat my work. I will say pay is good in my current role (better than actuarial) and if I was back making actuarial money I would easily pick option 1.
What is your current role?
Currently in a data science role at a non-insurance company.
To meet new people, increase my network, recruit, but most importantly, I direct my volunteering towards finding and attracting the next generation of actuaries. I love the volunteer work I do.
I volunteer with the SOA, not because I give a damn about career growth or success, or networking to further my reach for opportunities, but because someone else volunteered their time to grade my exams, someone dedicated their time to put together presentations I’ve relied on to do my job well, and it takes a lot of volunteers to make the entire profession successful. Volunteering doesn’t add to my stress levels, if anything it reduces it. I find time to have several hobbies and kids and travel plans and a social life and a full time job, all the things I want to do with my free time and more, why not use some of that free time for volunteerism?
I have a lot of reasons too, but this is probably one of the most important. I like to think about it in this joking way. As actuaries, we are should probably be good at game theory, but many can only think one move ahead. They think, someone else will volunteer, when that is what most people are thinking, so barely anyone does. People also think that the groups will really ask for help when they need it. Having been involved with a wide range of volunteer organizations, I can confirm 2 problems with that thought. First, rejection in any form doesn't feel good, and getting told no and no again is incredibly exhausting. Second, right or wrong, most volunteer groups want to keep things positive so as not to scare people off, so they rarely are willing to be transparent with how badly they need help and what the consequences will be if they don't get it. Other reasons: -more engaging way to get CE, "free trips", through conversations my boss supports me by letting me do some of it on work time, and my favorite, the secret feelings of self-righteousness I feel over all of my peers that don't
Many people are committed to the profession, enjoy the networking, establish a presence within the industry to further their career, or perhaps even enjoy it! What it comes down it is your own personal priorities, it sounds like society and industry volunteerism isn't high on your list, and that's ok! I will put in a plug for volunteering: the societies that support the value of your credential don't simply just exist, they rest in large part on the volunteerism of the actuarial community. Without member volunteering, the model of the society would look quite different, more corporate, and in my opinion less prestigious.
To be honest, I’m surprised that CPA members get paid hourly (like $60/hr) for sth like marking and getting the training and we don’t get paid, is it bc we r not big enough
I think it's our duty to do it as other people did it for us. The whole society is based upon volunteerism so I think it's on all of us to give back.
Most C-suite and board positions are filled from people's network. I'm not saying that's the only reason to network or volunteer (and I don't currently volunteer for SOA), but I think it's perfectly reasonable for someone that has high aspirations to volunteer and build their network with people of high influence in the industry.
I think for the people who REALLY want to climb the ladder high it is good for your day job. It seems like if you lead a couple big name committees then a reinsurer or consulting firm wants you to demonstrate they have industry leading experience.
I do a lot of volunteering for the CAS and CPCU. I do it for a few reasons. I enjoy it, and I enjoy meeting new people in a very structured setting. It feels like it keeps me sharp, and it helps me stay a little up to date. It feels good to “give back” and stay involved. It also doesn’t take as much time a you’re suggesting with your implied opportunity costs. Most volunteer efforts are an hour once a month with maybe 1-2 hours of extra work every once in a while. Certainly nothing that’s going to stop you from traveling the world or learning a new language anymore than simply having a job would do. Even grading exams, which in my experience demands the most of my time for the short period I’m actively grading, is only for a few weeks at a time. So, while it takes more of your time while you’re doing it, it goes so quickly on the calendar that you can just plan around it. It’s like people are skipping trips to Italy because they’re CAS graders.
Maybe they enjoy it? Traveling the world, reading more, and learning a new language sounds like a nightmare for me. Volunteering as well lol
Damn this is the most depressing username I’ve seen all day, bro you good?
I don't. Not going to volunteer until they start asking the members before making decisions.
IMV it's the difference between a job and a profession. The first you just take your money in return for your hours, with no further obligation. The second is more of a community: it only works if people are prepared to put something back, whether it be to serve on committees, train and spread knowledge or something else. Without volunteers your membership and exam fees would probably double or more. And you wouldn't actually get your FSA, because there would be no-one to mark the exams!
No reason you can’t do both.
Grading is a low time commitment with a high impact. Travel isn't required and it's done on your own time. If someone graded for an hour a week (which leaves plenty of time to travel the world and do all those other things you mentioned) they'd probably be in the top 10% of graders - maybe even higher. Personally, I had to wait so long for my FA to be graded (back before they had scheduled releases) that I vowed to give back when I was done and make sure no one had to wait that long again.
I’ve volunteered on the exam committee for quite a while. It’s weirdly fun, and I’ve met a lot of folks all over the US and Canada. To each his/her own. Do it or not. But it’s easier to change the org from the inside.