The Australian insurance industry offers excellent opportunities for trained actuaries, and skilled candidates are always in demand. As such, actuaries can earn significant sums of money, and it's not unusual for a senior actuary to earn at least $200,000 a year. Nonetheless, to get the job you want, your resume must still give a recruiter all the information he or she needs. Make sure you can land your dream job, and avoid the four following resume mistakes some actuaries make.
Pitching your experience at the wrong level
It's important to make sure you pitch your resume at the right level. The salary range for trained actuaries can vary significantly, so you must make sure your CV shows that you have the experience that a potential employer is looking for. For example, if you want to take on a senior actuary role, you should show that you have experience of managing teams as well as your own work, and you should explain your experience of managing a large portfolio of products in a way that a junior role may not require.
Failure to give good examples of your skills
Insurance companies need actuaries that can grapple with complex financial models to derive profitable solutions. As such, your resume must show detailed evidence of your problem-solving skills. For example, you may need to show how you balanced risk with profitability by combining data from multiple sources. Succinctly describe what you did, and explain what the outcome was. Without enough detail, a recruiter is more likely to pass over your resume.
Failure to specify the right industry experience
Actuaries can work across a range of industries. While around 24.7 percent of actuaries work in general insurance, your skills are highly-prized in other insurance sectors, including health insurance and superannuation. Recruiters in those industries will generally look for people with specific, relevant experience, so it's important to use keywords and statements that highlight your expertise in these fields.
Missing other relevant experience
Actuaries aren't just mathematical geniuses. Effective actuaries often have experience of other roles, including project management, accounting and team management. Don't underestimate the value of these transferable skills in your resume. If you assume that a recruiter only wants to see experience that relates to technical work, you may undersell your capabilities. A specialist employment agency can help you understand which skills employers are looking for that don't relate directly to the technical side of the role.
The Australian job market offers good opportunities for actuaries, but you need to know how to pitch yourself to a recruiter. For more information and advice, talk to an experienced recruitment consultant.