Pros and Cons of going to consulting from traditional pricing?

My Actuarial career has been primarily pricing with a smidge of reserving. But our family needs to move, and it looks like a Consulting are the only opportunities in places where we’re we’ll need to be if i actually want to go into an office ever. What’s it like going to Consulting from normal pricing?

I think my default assumptions are, you get to avoid any hard data pull issues because the clients should have all the data prepared for you, even though you might have to polish it, so at least you’re not writing sql code. I generally think a compensation is higher, but ours can be crummy, especially around year end if you’re working on statements of Actuarial opinion.

Other assumptions include deadlines are much tighter, with little or no wiggle room, hours can be a lot more, you really are working for a client, the work is still Actuarial.

I guess what I’d really like is for those who have gone from traditional ensure employed Actuarial to PNC Consulting what was your experience like? What do you like about it? How should your expectations be managed? And lastly I suppose you have any takes on the different Actuarial Consulting employers? Based on conversations 15 years ago with previous coworkers, I think milliman has the rep of being the most demanding, but they also might pay among the most competitively.

Till all are one,


Consulting suuuuuuuuuuuuuuuuuuuucks.

Ok, maybe that’s not totally fair. You may get to work on some interesting projects, the people are generally great, you get a ton of experience in a short amount of time, and maybe you make a little more money. In return, you work much longer hours, you probably do a lot of boring work that only exists to support YE financials, and you don’t make enough more to justify the effort.

Also, you’re never getting out of data hell. No, you’re not running SQL queries. Instead, you’re trying to figure out why last year’s data doesn’t reconcile to this year’s.

Finally, you’re not going to advance based on your analytical ability. Can you sell? Do you want to sell? Do you want to work a lot, travel a bunch, and sell? Maybe you do, maybe you don’t. Just know it’s a different ball game.