Too early to panic about having no plan post-graduation?

[Eclair_de_XII]

I graduate a year from now, and I've been thinking about the future... Specifically, I'm worried because I have no clear-cut plan for my life after graduation. I really want to enter the actuarial field, but have no tests done yet; I've been too focused on the classes I'm taking right now, that I haven't had any time to study. So it's not like I can start my career, immediately after graduation.

My current plan doesn't really sound at all plausible... I'd try to find temporary employment until I can get enough tests done, so that some insurance industry will even consider me. Ultimately, I'd very much like to move out of this state--or at least out of my mother's house, but a studio apartment would cost at least eight-hundred dollars a month to rent in this state, excluding water and electricity and the like. So I can't help but feel that this hypothetical temporary job I will have to take will cover that. Moreover, if I do decide to move out of state for a job, there's not guarantee that I will keep that job and still have money to pay rent in that state. And it's not like some landlord will consider me unless I have a job to pay for rent...

But I'm very worried that I don't have much relevant job experience to begin with, though. The only job I've had in my entire life is at this homeless shelter working under someone who manages data. Basically, what I do for her, is manage and make spreadsheets detailing (generally) who comes into the shelter, the demographics of those people, and where on the island they originate from. It's really a hand-out job, though, because I used to volunteer there. So I'm kind of worried that I won't have actual job skills when I go to seek employment elsewhere. At the same time, if I left this job, I'd have no way to help pay that tuition and such. And I really like that it allows me flexible hours and let's me work at my own pace. I feel like it would be far too much trouble than it's worth to look for a company who would hire a college student with a busy schedule and no degree, in my last year. But sometimes, I just worry that I am not gaining valuable work experience at this job. I mean, I work with Excel a lot during this job, but it's not like I have any other experience applicable in a workplace environment; just spreadsheets and such. For example, if I wanted to work in some insurance firm, I wouldn't know how to work in a relevant computer program, such as R.

Speaking of which, I really should take the summer vacation to learn how to use that coding program... I mean, I used it sometimes during my elementary probability and statistics class, but during that class, I found it much, much easier to use Excel to do homework. I've also been thinking of trying to get an actuarial examination done in the summer, preferably the financial mathematics exam, because I actually have a book I can use to study for it. I've yet to take the high-level probability courses because of time conflicts with my job, which I am told will only help me prepare for the probability exam. But I will this fall, though it will unfortunately shave a third of my the total hours I can work because it's at an inconvenient time slot. In regards to how I will spend summer vacation, my Calculus IV skills have gotten a bit rusty, and will need to review it in preparation for the classes in the fall. Though, I do kind of want to spend my summer vacation not studying, because I've been feeling a little burnt out as of late... Also, in regards to the data analyst internship position I applied to a few weeks ago, they told me recently that I was not eligible, so I definitely cannot do that for the summer. So I'm just spending the summer vacation working at my current job, while I figure out what to do with my free time.

Anyway, do you think it's too early to begin panicking about finding employment post-graduation? I'm very sorry about ranting on and on... I just have this habit of composing walls of text detailing my thoughts and worries whenever they start to genuinely concern me.

 

[FactChecker]

It sounds like you have reasonable goals. If you understand statistics, R should be easy to pick up. You should download R and look at it now, so that you are reasonably comfortable with it. You don't have to be an expert. For the actuarial exams, I don't know if using R is allowed. You should find out what calculators are allowed for the preliminary exams, get one of those, and get familiar with it.

 

[Choppy]

There's no point in panicking. But now is a great time to start thinking seriously about your options post-graduation.

The first thing I might point out is to give yourself some credit for the work experience you have. Sure, you're not crunching big data, but you're doing something. A lot of people graduate university with zero work experience. Make sure that at some point you have a conversation with whomever you report to about how your work contributes value to the program and if you can, maybe see if there's anything else you can do. In a job interview later on, being able to articulate the importance of the work you do can make a huge difference in hiring decisions. These kinds of big picture conversations can also uncover opportunities too. Maybe there's another side project that you could drive and that could bring in more funding and get you a raise, or more responsibilities. Also remember that part-time jobs during your university years are about developing and practicing soft skills.

As for your summer, what you do with it is up to you. If you're feeling burned out, maybe you could take a "vacation" for a couple weeks. You don't need to go anywhere or spend any money. Just give yourself a break and pursue some other interests for a while. Maybe read some good books for fun. But before you do, come up with a plan for the rest of your summer. Establish a set of SMART goals for yourself (specific, measureable, achievable, relevant, and time-limited). Preparing yourself for your first actuarial exam and learning R are good starts - though with programming, I would recommend setting goals that are a little more specific.

 

[Locrian]

But sometimes, I just worry that I am not gaining valuable work experience at this job. I mean, I work with Excel a lot during this job, but it's not like I have any other experience applicable in a workplace environment; just spreadsheets and such. For example, if I wanted to work in some insurance firm, I wouldn't know how to work in a relevant computer program, such as R.

Very, very few people at insurance companies use R for anything. The majority of actuaries don't use R for anything.

That doesn't mean you shouldn't learn R. Frankly, the more interesting jobs are more likely to use some statistical package, so knowing will help you eventually. However, there are almost no entry level actuarial jobs that require that. There are plenty of entry level jobs that test your knowledge of Excel though, so make sure you really know it.

I've also been thinking of trying to get an actuarial examination done in the summer, preferably the financial mathematics exam, because I actually have a book I can use to study for it. . .

Woa now. Don't use textbooks or classes to study for the exams.

If your mathematics is solid, the only thing you need are the study manuals. Some prefer ASM. Others Actex. It probably doesn't matter, so long as you take the exams seriously enough.

A year is plenty of time to pass two tests. After or during that time, look for office jobs that require a bit of number crunching. If you can get an underwriting job, that would go a long way. Transferring to actuarial is a time-tested way of getting hired.

Best wishes!

 

[Eclair_de_XII]

You should find out what calculators are allowed for the preliminary exams, get one of those, and get familiar with it.

Got it. I hope they let me use Excel, though...

Make sure that at some point you have a conversation with whomever you report to about how your work contributes value to the program and if you can, maybe see if there's anything else you can do. In a job interview later on, being able to articulate the importance of the work you do can make a huge difference in hiring decisions. These kinds of big picture conversations can also uncover opportunities too. Maybe there's another side project that you could drive and that could bring in more funding and get you a raise, or more responsibilities.

I've been meaning to ask about the significance of the work I do, but only near graduation, so that I know how I've been contributing and how I can convey to a potential job interviewer what I've been doing at my job. I'm not sure if such a conversation would open up new opportunities for me to do, other than my usual tasks. But the truth is, I'm too frightened to ask these types of questions, even though there's no real consequence in doing so. I'm just not that pro-active, in general.

As for your summer, what you do with it is up to you. If you're feeling burned out, maybe you could take a "vacation" for a couple weeks. You don't need to go anywhere or spend any money. Just give yourself a break and pursue some other interests for a while. Maybe read some good books for fun. But before you do, come up with a plan for the rest of your summer. Establish a set of SMART goals for yourself (specific, measureable, achievable, relevant, and time-limited). Preparing yourself for your first actuarial exam and learning R are good starts - though with programming, I would recommend setting goals that are a little more specific.

When you say "specific", do you mean learning how to perform certain functions in R, or going through a tutorial?

Woa now. Don't use textbooks or classes to study for the exams.

If your mathematics is solid, the only thing you need are the study manuals. Some prefer ASM. Others Actex. It probably doesn't matter, so long as you take the exams seriously enough.

A year is plenty of time to pass two tests. After or during that time, look for office jobs that require a bit of number crunching. If you can get an underwriting job, that would go a long way. Transferring to actuarial is a time-tested way of getting hired.

The study manuals, I will consider. But I already bought a textbook, and I feel like I do not wish to waste it. In any case, those study manuals, I will consider. I do plan on working while studying. And being an underwriter sounds enticing, but I'm not sure if I'd have the credentials, or the relevant experience. I'd very much like to move out and live on my own while doing these things, also. Though I am not sure if this would be a wise decision or not, financially.

 

[Choppy]

When you say "specific", do you mean learning how to perform certain functions in R, or going through a tutorial?

I mean I find it works best when I start with a goal of writing a program that that performs a specific function where you care about the result. Sure, that can be based on a tutorial if you find one that fits. But my personal experience is that if I'm going through an exercise just for the sake of acquiring general knowledge I can do that for a while, but eventually other priorities end up muscling that out of the way and it gets left in the dust.

So maybe you could take some data with your current job (if they'll let you) and try to determine if there are statistically significant changes in the demographics that use the services when some kind of policy change is/was implemented.

 

[Locrian]

The study manuals, I will consider. But I already bought a textbook, and I feel like I do not wish to waste it.

It won't be wasted! It will still look pretty on your shelf - and, with the help of the manuals, you'll have passed the exam. Double win!

Also, to clarify my post above - classes on probability, financial mathematics, etc, will not help with the exams. But classes that are intended to help you pass the exams will! Starting with MFE I went to a seminar before each exam.

The key thread here is that the actuarial exams are not primarily tests that measure your understanding of the underlying material (though they do also do that). They are tests to measure your ability to take actuarial exams. If you are not using a source that teaches how to take the specific actuarial exam, you are handicapping yourself. Not saying you'll fail, but you've chosen to turn the odds against yourself for no reason.

 

[Vanadium 50]

There are plenty of entry level jobs that test your knowledge of Excel though, so make sure you really know it.

I find this an interesting comment. What is "really know it"? Pivot tables? Indirects? VBA?

 

[Locrian]

I find this an interesting comment. What is "really know it"? Pivot tables? Indirects? VBA?

An incomplete but hopefully not terrible list of commands to know might be:

• Sumif
• Sumproduct (both for calculating and for selecting/filtering/groupby)
• Vlookup/Hlookup
• Index-Match (and how it differs from vlookup)
• If
• Sum
• Count
• Offset
• Iferror
• Indirect

Additionally, being able to build a table that actually looks good, using the tools available in Excel, is a big plus. It's unfortunate, but many places still use Excel as a catch-all tool, so they go all the way from data analysis to final "presentation quality" output in the workbook. I think pivot tables is a great idea too.

Of the excel tests I've seen and heard about, none tested VBA. However, I'm sure that could come up if the job specifically required it.

(Hopefully I haven't made any of the above sound difficult, as I think it isn't. But it does sometimes trip up some entry level applicants)

 

[StoneTemplePython]

I find this an interesting comment. What is "really know it"? Pivot tables? Indirects? VBA?

Among some crowds I've seen "really know it" to mean really fast usage with almost all the major hotkey commands memorized, and just about never using the mouse. For 'training' they would walk around with rulers and smack your wrists if they caught you using a mouse. Great times. (No joke.)

A lot of the emphasis on no use of the mouse is so people can quickly do repetitive tasks over and over again. It turns out this is not so important if someone knows how to automate major portions of the process, perhaps with VBA, though of course I think Python is better.

 

[FactChecker]

It turns out this is not so important if someone knows how to automate major portions of the process, perhaps with VBA, though of course I think Python is better.

Good point. Although the ability to record a process you do once by hand and then put the resulting Excel code inside a loop probably gives it an advantage (within Excel) over Python.

 

[StoneTemplePython]

Good point. Although the ability to record a process you do once by hand and then put the resulting Excel code inside a loop probably gives it an advantage (within Excel) over Python.

If you're talking about using the built-in recorder in Excel for some of the basic tasks, no argument from me. For more involved stuff I've seen people do a lot of actual VBA coding by hand -- this is where modules like xlwings and xlwriter, etc. for Python start to become relatively quite appealing. (I'd of course suggest using pandas directly and ignoring excel for many things, but that's too big an ask in many situations.)

 

[Eclair_de_XII]

If you're talking about using the built-in recorder in Excel for some of the basic tasks, no argument from me.

You mean macros?

 

[StoneTemplePython]

You mean macros?

My recollection of Excel is there are two kinds of macros -- those built via direct use of the recorder and those where you code in VBA scripts by hand. My comment was about the former. The latter approach takes more skill but is ultimately more flexible and more powerful... but I don't really like actual VBA required for the latter-- that was the genesis of my comment.

 

[Joshy]

Buy a notebook.
Take this year to write down what you've learned and your achievements into the notebook (try to do it each day); definitely do it for days you work.

Look at the careers you are interested in and cater your modules and experience towards it in anyway possible. If - say for instance - you find an opportunity that is seeking programming experience, then I would do everything I can during that year to ensure I get that programming experience. You can also consider attending workshops or join a professional/academic society to really help get the ball rolling.

Look up interview questions websites such as Glassdoor for these positions and see what kind of questions they ask should anyone post them. The STAR method mentioned above is quite common and is a good baseline if you're unsure.

Network, network, network, and more networking. Keep in touch with your classmates. Some of them may think of you when their supervisor is asking about anyone who can do some "X" and "Y" tasks (just making "X" and "Y" up-- insert whatever you'd like there). I've definitely reached out to a few friends asking if they may be interested in an opportunity, and I'm new to the organization i work for. Supervisors do ask!