Jade
During college should you try to get an internship in a firm that needs or has an acturial position? And how likely is it?
I want to become an actuary. #actuarial-science #actuarial
3 answers
Jonathan Taylor, ASA
Jonathan’s Answer
Many large insurance companies have internship programs and it is highly recommended to try to get into one while in college. Some companies do summer only internships and other will do part time internships during the semester if you have a light class load. I don't think the latter is very common.
I really can't answer your question on how likely. The company I work for doesn't have an official internship program, so the few times we have had interns, they went through the same process that a full time job applicant would go through amd it really came down to how they interviewed. Things may be a little different for a company with a formal internship program, but it would be wise to treat it just like you would if you were applying for a full time job.
Colleen McDonough
Colleen’s Answer
There are two paths that usually support internships. Insurance companies (I.e. Met Life, New York life, AIG, etc) and consulting firms (Mercer, Aon, Willis Towers Watson, etc).
Most programs have a minimum GPA of 3.0 and to increase your odds of getting a spot I would recommend trying to pass 1 actuarial exam (typically exam P or FM for your first exam).
I started at Willis Towers Watson as a summer intern between my junior and senior year of college. I then started full time after graduation. Interning was extremely helpful!
Colleen recommends the following next steps:
Eli Braman
Eli’s Answer
An excellent starting point is attending a college career fair and discussing potential opportunities with insurance companies. Show enthusiasm and engagement in the conversation, and don't forget to ask some questions along the way. After the fair, apply for the position online and consider sending a follow-up email to the person you spoke with.