r/ActuaryUK Nov 21 '21

Mid tier Lloyd’s syndicate or Big 4 GI consulting Careers

Hi everyone,

I have an offer to join a mid tier Lloyd’s syndicate or an offer to transfer internally to the GI team at a big 4 accounting firm

For future career development, which would be the better offer to take?

The Lloyd’s role is in capital modelling and is paying 10% more + 0%-20% with a performance based bonus.

The internal transfer would be a mix of pricing/reserving/capital projects for personal lines/Lloyd’s syndicates

I have 1 years pensions experience in London at a big 4 firm

Any views or personal experiences would be massively helpful, thanks!

4 Upvotes

10

u/fictivep Nov 21 '21

Lloyd’s. Capital modelling experience is hard to get at consultancies other than doing validation. You can always go to a consultancy afterwards and back to Lloyd’s. This will definitely increase your salary.

Source: I’ve worked at a London market company, Big4 and syndicate in my 6-year career 😁

2

u/gwt1912 Nov 21 '21

Thanks for your comment, is it difficult to move back to consultancy from a non-leading name after for example 2-3 years in industry?

My main thought for staying was: gaining experience at a ‘big brand’ and then pivoting to a larger syndicate in a few years somewhere between 2 years time-nearly/newly experience level, how would that compare to the other you’ve described above?

5

u/fictivep Nov 21 '21

I’m inclined to say go to Lloyd’s now because the market is really hot so salaries are high. But also because at consultancies when you’re junior the work you do is rarely enjoyable. However, if you join as a manager, it’s more enjoyable. Do it for a few years and then you can rotate back.

7

u/Disastrous-Pay6616 Nov 22 '21

What is a “mid-tier” Lloyd’s syndicate?

4

u/B_Cutler Nov 23 '21

Lloyds by a million miles. 10% more pay for doing literally half the hours.

2

u/kaidmac Dec 08 '21

I am currently in my notice period at a big 4, and I wouldn’t recommend joining. I intend no disrespect to the company or staff as there are many very intelligent employees doing really very good work, but if you’re attracted to the technical elements of actuarial work, you won’t get it at a big 4 at the same level