30 Oct 2022
Recruiters can be a valuable tool for finding actuarial jobs. In this blog post, we’re going to discuss what recruiters can do for you, things to look out for, and most of all, how to make the most of recruiters to find your next actuarial job.
What is a recruiter? They're people who connect employers with potential employees. This blog post is about external recruiters (who work for a recruitment agency). There are also internal/corporate recruiters (who work in a company’s HR department and try to fill that company’s job vacancies) but we're not going to cover them here.
🤔 Pros and cons of recruiters.
Recruiters have access to a large network of contacts
- They may be able to source jobs that you wouldn’t otherwise hear about.
They can save you time
- Recruiters handle a lot of the admin involved in searching and applying for jobs.
A good recruiter will develop relationships with companies
- They often introduce lots of candidates to the same few companies, so they get to know their interview processes well.
- This means they can be a valuable source of information that might not be publicly available.
Recruiters are expensive for companies
- Actuarial recruiters typically earn commission of 20-30% of your annual salary. This shouldn't directly impact you, but it's something to be aware of.
Not all recruiters are honest
- There’s a lot of commission at stake. This can create a strong financial incentive for recruiters to convince you to join a company through their agency.
- We believe most recruiters are honest. But it's still good to be aware that some might try to push you towards jobs that aren't a good fit - because it’s in their best interests, not yours.
🔍 How to find and evaluate a recruiter.
A quick Google search for “actuarial recruiters” will give you plenty of options. Or you can create a LinkedIn account and update your profile to make it clear you’re interested in actuarial work. It won’t be long until recruiters start reaching out to you.
What qualities should you look for in a recruitment agency?
- Do they recruit for different industries, or do they focus on actuarial hires? Do they employ any actuaries?
Experience and connections
- How long has the agency been in business? Do they have any connections with well-known employers?
- Do they seem genuinely interested in helping you get a job? How will they handle your questions, concerns or negotiation points?
- Does the agency have a high retention rate? Will the recruiter stay long enough to sell your skills in the job market?
- Is the agency reputable and legal? Are you comfortable giving them your personal and professional information?
🤝 How to make the most of recruiters.
If you do decide to enlist a recruiter, it’s a good idea to talk to several different agencies. This gives you more context and helps you avoid putting all your eggs in one basket. It also means you'll be less tempted to accept the first job offer you get.
Ultimately, always do your own research and only agree to deals that feel right for you.
⭐️ Alternatives to using recruiters.
We recommend trying multiple avenues to search for actuarial jobs. This gives you a wider view of all the jobs that are available.
Company careers pages
- Most actuarial employers have a careers section on their website where they list all of their vacancies.
- But browsing careers pages can be time consuming. Unless you already know which companies you want to work for, it can be hard to know where to get started.
- This is where someone in your professional network recommends you for a job with their employer.
- Finding someone to vouch for you can really strengthen your job application. This can be difficult if you don’t already have a large professional network though.
- You can grow your network by talking to other actuaries at events, engaging with other actuaries on LinkedIn and keeping in touch with former colleagues.
Actuarial job boards
- These websites list job opportunities on behalf of employers and recruitment agencies.
- If you’re an actuary and you’ve ever searched for a job, you’ve probably noticed that most actuarial job boards are a pain to use. They're clunky and outdated.
- We started Actuary List with the aim of creating a modern job board that makes it easy for you to find the job that's right for you - and avoid the ones that aren't.
We hope you’ve found this blog post useful. We want everyone to be able to make an informed decision - and recruiters can be another valuable tool for finding an actuarial job.