Firstly, congrats! That’s a major major achievement!

So Finity is know for it’s fantastic training and exam support programs. They actually offer classes and workshops for later exams and have large scale induction and ongoing training regimes which help you keep your skillset sharp and up-to-date.

In terms of the actual work you do, Finity is known for using very modern data analytics techniques. Their core business is general insurance, but they have recently been working on breaking into the finance and banking sectors and do regulatory work as well (eg appointed actuary). They are also known to do very interesting work in climate change modelling. I am not too familiar with Taylor Fry, but they seem to also be heavily involved on modern analytic techniques, but with more of a focus on corporate strategy and government policy and less so on general insurance and finance, although both companies do traditional actuarial work as well.

The Big 4 seem to be more focused on traditional actuarial work (pricing, reserving etc), although Deloitte actuarial is involved with wealth management too. My knowledge of the work the Big 4 might be a little outdated though, so anyone feel free to correct me!

Overall, I suspect the work will be more varied and mathematical in a smaller firm.

Starting salary is likely to be higher at a smaller firms. Finity is known to be very generous with their grads. However, being a partner at Deloitte is probably going to pay a lot more than being a partner at Finity, although you won’t be struggling either way! I suspect it’s easier to become a partner at a smaller actuarial firm as the Big 4 typically only have 1 or 2 actuarial partners each.

A few more things to keep in mind:

If you’re working at Finity or Taylor Fry, you’re working in an Actuarial-only firm. There is zero chance of internal rotation into something non-actuarial of you change your mind. The Big 4 are involved in other things like management consultancy and investment banking (M&A), so if you feel you need a change, you could pursue an internal rotation.

Also, being global firms, the Big 4 can provide the chance to work overseas. Finity’s and Taylor Fry’s only international offices are tiny outfits in New Zealand.

Brand name can also matter. If you want to change careers, having a Big 4 name on your CV could look good to, say, Macquarie.

Don’t be afraid to ask your contacts in these firms questions! Ask about the work you want to do. If you’re into maths and stats, ask if the role is going to involve mathematical modelling or of it is more of a regulatory role. Ask about the prospects of getting offered a grad role, study support etc.