Job Responsibilities
Job function is client facing and depending on the level of
trust that you build with your clients they will come to you
with much of their day to day insurance issues. Much of the day
is comprised of working on excel plugging in information. In
addtion, basic modeling will be expected. Risk Analysts will be
trained to use Marsh specific models that analyze clients
risk/loss exposures. Lots of dirty work (photocopying, note
taking, etc...) will be expected.
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Job Requirements
I had an economic background and it assisted me in looking at
clients' risk concerns. However, the insurance industry doesn't
have any particular educational requirements. Many of my co-
workers have liberal arts majors such as English, History, and
Sociology and they have quickly learned the industry and moved
up. Others attending a university with a risk management
major. These people are more quickly able to take on
resposiblity. However, after a year or so the playing field is
roughly level.
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Uppers
Client interaction is a great part of being a risk analyst. The clients trust
that you will work hard on their accounts and you will want to work hard to get
answers for them because it will reflect well upon you. The work hours are
generally very relaxed and Marsh gives its employees summer hours (1/2 day on
Friday). People are also very friendly and enjoy having a good time.
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Downers
Management is poor and in the past year good people have been
leaving, which has adversly affected management within the
company. The pay is also sub par and many of my co-workers have
been leaving for other jobs because of pay. Also, Marsh is very
conservative and the dress code for most of the year is business
attire.
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Lifestyle
Work hours are good (8-6), minimal business travel, social events are limited
(need to make friends with bosses who enjoy going out), dress code is
conservative and morale is low because of investigations from the NY attorney
general.
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Compensation
Base of 45K with 5K signing bonus. Raised have been roughly 5%
over past 2 years because of poor company earnings. However,
for the number of hours worked pay is good.
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Advice to Jobseekers
Hopefully the worst is over and Marsh will rebound over the next
year. However, pay close attention to company's financial
reports because it will affect pay and morale. There are
opportunities for young employees to move up, but it depends on
the team you are joining. I would be careful if entering the
insurance world if you do not have a background in the industry
because it could be a rude awakening. It was for me and many of
my co-workers.
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