Check out my $$ Starting Salary $$

kotchian123 · 03-21-2008, 12:34 AM

DISCLAIMER: I AM NOT TRYING TO COMPETE WITH ENTRY LEVEL I-BANKERS SO DON'T TURN THIS INTO A FLAME WAR!!!!!!!

Okay I'm doing this just to better inform people that there are quite high paying entry level jobs (with normal 45 hour weeks and 8-9 hour days). And also you don't have to be from an ivy caliber college although there is a growing increase of ivy students in my job pool. But you do have to be quite good at probability/statistics.

I will be starting out as an actuarial analyst for a mutual fund and investment firm.

So here goes.....

My start salary NOT including incentive bonus is 75K. I am an actuarial analyst doing investment forecasting / asset liability analysis. The work is interesting, the hours very normal. Also the bonuses go up each year as you pass more exams and once you're fully certified, you're made an officer (low ranking executive within the insurance/consulting firm).

If you're interested in being an actuary, please visit

Be An Actuary

P.S. - I would like to buy a really nice convertible. Any suggestions with a $$ tag below 35K would be welcome!

Mr Payne · 03-21-2008, 12:42 AM

That's very nice, congratulations.
If you're being this open I assume it won't be rude to ask what you signing bonus is what the expected year end bonus is.

I'm with you, people can make a very nice living working fewer hours if they know where to look.

And on the convertible, what are you looking for? Used/New?
E46 M3 is a good choice. You can get a used C6 Vette for a little over 35K. New Nissan 350Z. New S2000.
Personally, I'd just go for a used C5 Z06. Not a convertible but very fast. Gotta get it now while gas is cheap. It's only going up from this point.

wolfpack12 · 03-21-2008, 12:48 AM

I wouldn't get a convertible. I would get a regular sports car. Convertibles lack the power that their regular brothers have. They are not as fast because they are heavier.

But suggestion for the convertible, how about a Honda S2000? They are pretty powerful especially if you mod them right. They are at or around 35k sticker, so I'm sure you'll be able to talk them down.

As far as the actuary stuff goes, did you have to pass an exam before your first job?

lookingforwhat? · 03-21-2008, 01:00 AM

Hm...i like statistics...but what other math (or major) is needed for those exams?

wolfpack12 · 03-21-2008, 01:12 AM

The 2008 Nissan Z 350Z fully load will be about 38K msrp. You can definitely talk them down. But i would definitely recommend this car. You'll get cat back exhaust, sway bars, everything. It handles a lot better than the cheaper models. Does not come in convertible though. You can get a cheaper one in convertible model.

I guess if you really want a convertible then get one, but for me it is not worth the lack of power. Just in case you're considering a mustang, DONT get a phony pony. Make sure it is GT or don't buy it.

Sachmoney · 03-21-2008, 01:26 AM

I haven't been really thinking about cheap cars recently because I've been watching a lot of Top Gear. I would suggest something like a Miata or a S2000. I'd just suggest the Miata because of the folding hardtop, but the S2000 is just a helluva car. You could may be get a Z4, but that would be pushing your limits a little bit.

UriA702 · 03-21-2008, 01:29 AM

congrats
look into the infiniti g37 as well, I believe there is a convertible model due out for 09 (most likely will be released this summer)

G37 Convertible - The Infiniti G37 Information Resource

I would suggest budgeting accordingly, maybe a lease to save some money on the payments. I purchased a really expensive cadillac escalade in 04 when I was making good money, and although I have been able to afford it consistently throughout the past few years, I wish I had gotten something more practical.

Keep money aside for graduate school as well, that may be an option.

BTW: where did you go to school and what was your major?

wolfpack12 · 03-21-2008, 01:38 AM

I would steer away from the Miatas, Z4, Porsche Boxter, Honda Del Sol, Toyota Celica and cars like that. They are made for women. Well, hey maybe you are a girl. Then I'd highly recommend those cars. But if not, look at the S2000, 350Z, Mustang GT Bullit, or that infiniti above. These are great cars with some good power. If you can find an old one get a 3rd generation mazda rx7 twin turbo, or a toyota supra. I wish I could find a good one. I'm cheap so I ride a motorcycle.

Sachmoney · 03-21-2008, 02:04 AM

The S2000 is a chick car in my opinion as well...may be even the Z as well. The small two door convertibles just aren't really manly at all. The Mustang is cool, but it's heavy and it's going to cost you at the pump. I hope you're going to be in a warm weather climate because if not, I don't think a convertible is very practical. I'd stick to a 3-Series.

I second UriA's questions. Also, what classes did you take?

Mr Payne · 03-21-2008, 02:21 AM

All "Hard Top" Corvettes are T-Tops, except for the Z06. It's like a convertible.....just way faster.

wolfpack12 · 03-21-2008, 02:48 AM

Good point Mr Payne. I've never been a chevy guy in general though so thats why i never suggested a corvette. Sachmoney, the Z corvette is definitely a chick car...convertibles in general are chick cars for me, but the top of the line 350s are really nice and fast.

kotchian, whatever you do, get a manual. you're not a man unless you have a third pedal.

Mr Payne · 03-21-2008, 03:52 AM

The Z Corvette is definitely a chick car? 505hp @ 3100lbs isn't very "chick".

Did you mean to say 3 series BMW?

kotchian123 · 03-21-2008, 04:21 AM

Thank you for your recommendations!

As far as stats and other personal info. is concerned -

I am 22 years old. A UConn graduating senior with a few actuarial exams passed. It was my sharp interview skills, appealing personality, good grades (3.6+ major GPA), and a crucial summer internship that landed me the salary. There are a few other people at UConn starting off at what I make.

As far as graduate school is concerned, I will most likely not waste my time with MBA unless it's H/S/W/M. My skill-set will be developed in investment analysis which is very useful for prop. trading desks. I know of an actuary right now at Columbia MBA program who was supposed to start working at a prop. trading desk. However with the mortgage crisis and mass wall-street layoffs; it may pose a problem - I'll let you guys know if I hear back from him.

Anyways, who knows what the future holds?

wolfpack12 · 03-21-2008, 11:13 AM

no, nissan 350 convertible is hte chick car.

Sachmoney · 03-21-2008, 11:18 AM

The Corvette isn't exactly small with its massive V8

I think you meant the BMW Z4, which I was talking about. Yeah, it's a chick car.

kotchian: I started reading about it. What do topic do the different exams cover? All the had were the first and second exams. Where'd you intern?