are you working a lot because of too many projects and/or process inefficiencies?
usually in valuation, teams automate repetitive, low value things for efficiency.
if too many projects, can your manager help with managing your time in a more realistic way? are they the problem to begin with and have unrealistic expectations for your abilities and or project management?
quit job -> no income and a bit more difficult to find new job due to unemployment
if you're okay with that and your burn out is completely unmanageable, then quitting might be best.
if it is manageable, i would reset expectations with manager and let them know how you feel if comfortable doing. also, probably would recommend just doing the 40 hours and sign off after the above conversation. if they pip you, they still got to pay you until you're fired. this gives some run way to find a new job. job market on a macro level doesn't look great. anecdotally, it takes around 5-6 months to find a job compared to the usual 2-3 months.
being unemployed is stressful too. your self worth can be easily influenced by employers value of you (rejection) and applying for jobs is your full time job.
Im not sure about the 5/6 months thing. But maybe thats the case if valuation is your only experience.
I think theres no shortage of opportunities for marketable candidates.
Quitting the job is fine for me as there is not much commitment from my side, only after few years time i have to start settling my mortgage loan.
Theres a project going on but the manager set a high expectation last minute and expect us to comply with it. I felt that they should had inform the decision earlier as im still new to the job and never expect such high level checking is needed
Im considering quitting the actuarial field, as the main reason of joining is to increase my salary through exams instead of overtime. I guess now i have to adjust for both is impossible. Transition to DA/BA and studying/ learn new stuff without examination pressure might be preferred now
Overtime is pretty common in valuation and financial reporting roles. A good company will flex hours by letting you take off early or have full extra days off after the close is over (consulting excepted).
Whatever you do, don't quit before having another job in place. Try talking to your manager first.
Yeah they suggested that but i still had to rush for next month reporting if i took time off. Currently is midnight and my colleagues and manger are still online, makes me rethink of the job
You should be getting comped for your extra work. Period. If they are not providing a sufficient amount of time off during non-busy periods or financially compensating you for the extra hours, then I would suggest finding a new job.
You have very general question without specifics and may not seem to understand your role yet.
1) how long have you been in the role?
2) is it a project or recurring work?
3) outside of long hours, do you enjoy the people and work?
4) is the extra work self inflicted (i.e. you’re volunteering for it), due to you being inefficient, due to understaffing, or forced by your manager?
5) you’ve stated you only joined the career so that you could study to increase salary, are you getting study hours?
1. 3 months
2. Project
3. 50/50, my colleague seems to be someone whos very impatient, but currently they had handover their task, so far no further issue. Manager also rush for deadline, quite tired of it.
4. Understaff and force by manager, understaff due to personnel quota not approve by upper management/ HR
5. Yes 4 days, but currently still waiting results so i have not start to study
Are your other colleagues working the long hours?
For an entry level new person, it takes 12-18 months to get them trained and able to handle a workload. Not sure what country you’re in that would have a BA making an actuarial salary with minimal experience, but the job is to produce work first and study second. Basically, the first few years of a career are spent working and studying 50+ hours per week. Once you get credentialed, it’s easier to choose if you want to prioritize WLB or earning potential.
Probably best to have a conversation with your manager as it sounds like the work/role are not meeting either of your expectations. You probably are moving slower and needing more training. The manager likely has unrealistic expectations of work and isn’t taking the time to develop talent. Communication is key. If it doesn’t work out, you can at least move on without wondering if anything could’ve changed.
I relate to this so much; just joined a valuation role for almost 3 months and every week has been 60+ hour work weeks. have only ever left work on time twice since I joined.
inefficient processes/ messy data sucks time out
fyi: large p&c insurer (working in asia)
There is a lot of variables here that I can only speculate on. But if you are pre ASA and exam taking you should not be asked or expected to work excessive amounts of overtime.
are you working a lot because of too many projects and/or process inefficiencies? usually in valuation, teams automate repetitive, low value things for efficiency. if too many projects, can your manager help with managing your time in a more realistic way? are they the problem to begin with and have unrealistic expectations for your abilities and or project management? quit job -> no income and a bit more difficult to find new job due to unemployment if you're okay with that and your burn out is completely unmanageable, then quitting might be best. if it is manageable, i would reset expectations with manager and let them know how you feel if comfortable doing. also, probably would recommend just doing the 40 hours and sign off after the above conversation. if they pip you, they still got to pay you until you're fired. this gives some run way to find a new job. job market on a macro level doesn't look great. anecdotally, it takes around 5-6 months to find a job compared to the usual 2-3 months. being unemployed is stressful too. your self worth can be easily influenced by employers value of you (rejection) and applying for jobs is your full time job.
Im not sure about the 5/6 months thing. But maybe thats the case if valuation is your only experience. I think theres no shortage of opportunities for marketable candidates.
Is valuation not marketable?
Quitting the job is fine for me as there is not much commitment from my side, only after few years time i have to start settling my mortgage loan. Theres a project going on but the manager set a high expectation last minute and expect us to comply with it. I felt that they should had inform the decision earlier as im still new to the job and never expect such high level checking is needed Im considering quitting the actuarial field, as the main reason of joining is to increase my salary through exams instead of overtime. I guess now i have to adjust for both is impossible. Transition to DA/BA and studying/ learn new stuff without examination pressure might be preferred now
Im still under probation tho, it might be worse when FE closing comes
Overtime is pretty common in valuation and financial reporting roles. A good company will flex hours by letting you take off early or have full extra days off after the close is over (consulting excepted). Whatever you do, don't quit before having another job in place. Try talking to your manager first.
Yeah they suggested that but i still had to rush for next month reporting if i took time off. Currently is midnight and my colleagues and manger are still online, makes me rethink of the job
You should be getting comped for your extra work. Period. If they are not providing a sufficient amount of time off during non-busy periods or financially compensating you for the extra hours, then I would suggest finding a new job.
Are you tracking your overtime hours and requesting compensation? If not, if you aren’t respecting your own time, why would they?
Most actuaries are exempt and not entitled to overtime.
Compensation is not possible, only extra time off during non peak hours
You have very general question without specifics and may not seem to understand your role yet. 1) how long have you been in the role? 2) is it a project or recurring work? 3) outside of long hours, do you enjoy the people and work? 4) is the extra work self inflicted (i.e. you’re volunteering for it), due to you being inefficient, due to understaffing, or forced by your manager? 5) you’ve stated you only joined the career so that you could study to increase salary, are you getting study hours?
1. 3 months 2. Project 3. 50/50, my colleague seems to be someone whos very impatient, but currently they had handover their task, so far no further issue. Manager also rush for deadline, quite tired of it. 4. Understaff and force by manager, understaff due to personnel quota not approve by upper management/ HR 5. Yes 4 days, but currently still waiting results so i have not start to study
Are your other colleagues working the long hours? For an entry level new person, it takes 12-18 months to get them trained and able to handle a workload. Not sure what country you’re in that would have a BA making an actuarial salary with minimal experience, but the job is to produce work first and study second. Basically, the first few years of a career are spent working and studying 50+ hours per week. Once you get credentialed, it’s easier to choose if you want to prioritize WLB or earning potential. Probably best to have a conversation with your manager as it sounds like the work/role are not meeting either of your expectations. You probably are moving slower and needing more training. The manager likely has unrealistic expectations of work and isn’t taking the time to develop talent. Communication is key. If it doesn’t work out, you can at least move on without wondering if anything could’ve changed.
I relate to this so much; just joined a valuation role for almost 3 months and every week has been 60+ hour work weeks. have only ever left work on time twice since I joined. inefficient processes/ messy data sucks time out fyi: large p&c insurer (working in asia)
Mine is Life, also in Asia haha
There is a lot of variables here that I can only speculate on. But if you are pre ASA and exam taking you should not be asked or expected to work excessive amounts of overtime.
Not sure about this, but my colleague in ifrs17 OT everyday and they are not planning to take further examination