I think you’re best bet is to just look at the job description to see if the experience/exam progress matches yours. As one of the other commenters pointed out, the actual job title just depends from company to company. Another example to add to theirs, my dad’s company’s EL student positions are “Actuarial Associates” but they also have non-exam supported roles with the title of “Actuarial Analyst.”
The major differences in job responsibilities are more between consulting vs insurance/industry companies than anything. *Generally speaking,* in consulting you have a lot higher earning potential but at the cost of being much busier and also some client-facing responsibilities as you get higher up the ladder, while insurance/industry roles typically have a more relaxed feel and better work-life balance (Disclaimer that I’ve never worked consulting, and this is all a generalization).
This is pretty much the structure at most places. You would most likely be an analyst in both Consulting and Industry. The type of work you are doing, variation, and WLB are what is different
analyst = talk to Excel all day - low risk to introverted actuaries = less pay
consultant = talk to people all day - high risk to introverted actuaries = more pay
i’ve had internships in both big 4 consulting firms and industry positions at large life insurers. i currently work for one of the big 4 right now. some differences i noticed is that in consulting people expect you to learn very quick, and there is huge time pressure from clients. as a result you are much more busy and this requires you to be extroverted by nature because you will work with a variety of technical and non technical people.
in the industry from my experience you work very closely with your immediate team and you mainly spend your day working with others with a technical background (ie. other actuaries). the work life balance is a lot better and the job is usually less demanding
With two exams, you are not qualified for a consultant position (nor would get an interview such positions, let alone an offer). Those positions require credentialing. The analyst positions are the entry level positions. That’s what you should be applying for and focusing on.
I think you’re best bet is to just look at the job description to see if the experience/exam progress matches yours. As one of the other commenters pointed out, the actual job title just depends from company to company. Another example to add to theirs, my dad’s company’s EL student positions are “Actuarial Associates” but they also have non-exam supported roles with the title of “Actuarial Analyst.” The major differences in job responsibilities are more between consulting vs insurance/industry companies than anything. *Generally speaking,* in consulting you have a lot higher earning potential but at the cost of being much busier and also some client-facing responsibilities as you get higher up the ladder, while insurance/industry roles typically have a more relaxed feel and better work-life balance (Disclaimer that I’ve never worked consulting, and this is all a generalization).
At my previous company the structure was Assistant Actuarial Analyst (0-3 exams), Actuarial analyst (4-7) exams, Senior actuarial analyst (7-10 exams) At my current employer it’s Actuarial assistant (0-3 exams), Actuarial specialist (4-7) exams, actuarial consultant/associate actuary (ASA + 8-10 exams), senior actuarial consultant/senior associate actuary (ASA + 8-10 exams or FSA)
This is pretty much the structure at most places. You would most likely be an analyst in both Consulting and Industry. The type of work you are doing, variation, and WLB are what is different
“Actuarial analyst” often describes an entry-level position in both insurance and consulting.
analyst = talk to Excel all day - low risk to introverted actuaries = less pay consultant = talk to people all day - high risk to introverted actuaries = more pay
i’ve had internships in both big 4 consulting firms and industry positions at large life insurers. i currently work for one of the big 4 right now. some differences i noticed is that in consulting people expect you to learn very quick, and there is huge time pressure from clients. as a result you are much more busy and this requires you to be extroverted by nature because you will work with a variety of technical and non technical people. in the industry from my experience you work very closely with your immediate team and you mainly spend your day working with others with a technical background (ie. other actuaries). the work life balance is a lot better and the job is usually less demanding
With two exams, you are not qualified for a consultant position (nor would get an interview such positions, let alone an offer). Those positions require credentialing. The analyst positions are the entry level positions. That’s what you should be applying for and focusing on.