BS for Actuaries Series - Issue 1

Issue 1: Why should you ask for a pay rise on a sunny day?

Behavioural Science is the scientific study of human behaviour and looks at why people really behave the way they do rather than just the reasons they say. It is sometimes referred to as behavioural economics, however this is just one area of the field and is more focused on human behaviour in economic contexts. 

Although it’s a subset of the wider behavioural science umbrella, it is seen as being instrumental to the growth of the field and the application of various methods to real-world problems. 

You’re probably thinking “How does this relate to actuaries and recruitment?” and that would be a good question. It’s used a lot in sales, marketing and advertising but in truth, it stretches across several domains and the theories/principles can be applied to various areas of business and aspects of life (both inside and outside of work).

Appraisals and pay reviews are fast approaching for many of the actuaries I’ve been speaking to, or for some, discussions have already begun. Asking for a pay increase can be uncomfortable and not always straightforward to approach, especially with the current economic climate being the way it is. 

Here are 6 top tips based on scientific research which may be able to help with the negotiations:

CLICK HERE