Click the link if you’re interested in our Summer Actuarial Internship Program
We’re looking for energetic and analytically-minded individuals who have completed a minimum of two actuarial exams to join our program. You will have the opportunity to rotate every two years in a diverse, inclusive, and collaborative environment with people who are committed to helping you develop your skills as an actuary.
New York Life is headquartered at 51 Madison Avenue, in Manhattan, across from Madison Square Park. Located between the popular neighborhoods of Murray Hill and Gramercy Park, it is within walking distance of Grand Central and Penn Stations as well as the Empire State Building, Times Square, and Greenwich Village. Most students will rotate into roles located at our headquarters or our White Plains office, which is a short train ride from the city. Additional actuarial trainee opportunities are available in our Tampa, FL and Austin, TX offices.
Program highlights and opportunities.
As an actuarial trainee, you receive ongoing exposure to a variety of projects, business areas, company products, and seasoned executives to gain the necessary skills and experience to excel. Through a combination of rotation assignments, staff meetings, exam preparation workshops, training seminars, and mentoring sessions, you become immersed in the scope, challenges, and demands of an actuarial career.
Typically students rotate to new assignments every 24 months. Rotations are designed to give each trainee a broad insurance and investments background through exposure to various aspects of actuarial work. Each trainee's prior experience, exam level, and personal preferences are considered when determining rotations to provide the greatest potential for growth. Rotations are generally available across all actuarial teams in the company, including Pricing, Valuation, Cash Flow Testing, Experience Studies, and Investment Strategy. Roles are also available for students in the Office of Risk Management & Chief Actuary in Business Unit Oversight, Regulatory Support, and Corporate Modeling.
To support your exam needs, the company provides private onsite study space (for use during and after business hours), time-off study days, expense reimbursement, and review seminars to help promote the most successful results.
The company permits a substantial amount of study time, both during and outside of business hours.
Trainees are generally allowed to choose the days on which they will take their study time and where they will study. Study days can be taken as a quarter, half, or full day. Study schedules are arranged between the trainees and their direct supervisor. In addition to study days, students typically receive a day off to take the exam.
This study time (in days) is granted as follows:
|Requirement||First attempt||Second attempt||Third attempt|
|Exam P - Probability & Exam FM - Financial Mathematics & Exam IFM - Investment and Financial Markets||10||8||5|
|Exam SRM – Statistics for Risk Modeling||12||9||6|
|Exam LTAM - Long-Term Actuarial Mathematics & Exam STAM - Short-Term Actuarial Mathematics||14||11||7|
|FSA Exams (5 hours)||18||13||8|
|FSA Exams (2 hours)||9||5||3.5|
|FSA Exam ERM (4 hours)||15||11||7|
|APC/FAC||Time to attend||-||-|
New York Life currently offers the below salary increases upon passing of the respective exams:
|Exam Passed||Salary Increase|
|Exam P & Exam FM||6.0%|
|Exam LTAM & Exam STAM||5.0%|
|FAP Interim Assessment||2.5%|
|FAP Final Assessment||2.5%|
|FSA Exams (5 hours)||7.0%|
|FSA Exams (4 hours and 2 hours)||3.0%|
|FSA Completion (FSA modules, DMAC, and FAC)||2.5%|
The company offers a competitive and flexible benefits package. Details on our benefit plans are presented to new employees when they begin employment.
All trainees are welcome to participate in our new Student Loan Repayment Program. This program provides up to $10,000 in financial support from New York Life towards your student loans.
In 2019, the company started offering a full day off each year for employees to participate in a volunteer event for a charity or school of their choosing.
Apply to the Full-Time Actuarial Program.
New York Life is an equal opportunity employer M/F/Veteran/Disability/Sexual Orientation/Gender Identity