Calculating Confidence: How to Conquer Imposter Syndrome
“You are your own worst critic.” It’s likely you’ve been told this before. We’ve all been too tough on ourselves at some point. Maybe you thought that you aren’t smart enough, not experienced enough, or not capable enough for the situation you’ve found yourself in. Perhaps you’ve been given a new project or responsibility at work and, while you’re grateful for the opportunity, you can’t help but feel like you haven’t truly earned it — you’ve simply managed to trick people into believing that you’re capable, when secretly, you’re not cut out for it (spoiler alert: you probably are cut out for it).
Sound familiar? This feeling of intellectual inadequacy is no isolated experience and certainly isn’t new. First coined in 1978 by clinical psychologists Pauline Rose Clance and Suzanne Imes, “imposter phenomenon” was first studied in family dynamics. Colloquially, “imposter syndrome” is a feeling of self-doubt that early-career professionals often face in the workplace. It’s estimated that at least 80% of people experience imposter syndrome at some point in their lives, and the rates are even higher for women and people of color (source: UC). According to Psychology Today, imposter syndrome is characterized as follows:
“People who struggle with imposter syndrome believe that they are undeserving of their achievements and the high esteem in which they are, in fact, generally held. They feel that they aren’t as competent or intelligent as others might think — and that soon enough, people will discover the truth about them.”
Especially in actuarial science, being a beginner is daunting. The fact that you’ve even considered embarking on this career path is evidence that you are likely a high achiever and are generally used to enjoying a high level of competency in complicated concepts. Learning the ropes of actuarial science and insurance may be your biggest challenge to date, and it can be even more discouraging when you don’t yet have actuarial credentials.
In contrast, experienced actuaries seem to know everything effortlessly, and the letters after their names reinforce this perceived expertise. Luckily, plenty of successful and accomplished actuaries experienced imposter syndrome starting out. You might be surprised to learn that it never seems to go away completely, but there are some key tips actuaries have learned along the way that you can implement to reduce imposter syndrome’s impact on your career and development.
• Understand that others’ expectations of you may not be as unattainably high as those you’ve imposed upon yourself.
• It’s natural to be hyper-aware of your own work performance and output. You’re the only person in the world who walks in your shoes and knows every detail of your own understanding, or lack thereof. Odds are, no one else is putting the same degree of scrutiny on you that you are. If you’re starting a new role or project, it would be unfair and simply unrealistic for anyone to expect you to be an expert. Take the pressure to be perfect off of yourself! Instead, put trust in your manager’s insight that you have been assigned particular challenging tasks because you have demonstrated your capability and potential (even if you’re still not fully convinced.)
• Dan Watt, FCAS, emphasizes, “It’s really important to know that in your career, your exam progress, and your general understanding of actuarial science is a marathon, not a sprint. You’ll feel a lot less stress if you take that off your shoulders. You’re not expected to be a fully knowledgeable actuary in three years. It’s going to take a long time, and that’s okay. It’s expected.”
• Find a mentor whose opinion you value to discuss your concerns.
• A great mentor can discuss your concerns with you and help you to decipher what might truly be areas of improvement for you, helping to reduce baseless self-doubt. Once the doubts have been alleviated, you can spend your time and energy focusing on the areas that can be improved with the help of your mentor’s insights and constructive criticism.
• They can also share their own experiences with you. Knowing that someone you respect has also experienced imposter syndrome at some point can demonstrate that you will also go on to accomplish great things in your career despite the feelings you’re currently having.
• It’s especially important to find a mentor who will uplift you and not judge your struggles with imposter syndrome. Watt recommends a formal mentor-mentee relationship: “Formalize it, then the conversations you have will be confidential. If your company doesn’t have a formal mentor program, have one-on-ones with different people until it feels right, and then officially ask them if they would be your mentor.” The right mentor will not hold your self-doubts against you in the workplace but will advocate for you based on the growth they’ve seen throughout your conversations.
• Accept that imposter syndrome never fully goes away.
• The insurance industry is constantly changing, as new risks emerge, and processes develop perpetually. Given the rate at which new information becomes available, no individual actuary can possibly know everything all the time, even the most experienced ones. You’ll inevitably learn something new every day, so the sooner you get comfortable with being uncomfortable, the more confident you’ll be.
• Watt says, “You’re going to have imposter syndrome. So now that you know you have it, it’s been identified. Now close your eyes, jump and try this new thing. I mean, it’s going to be scary, sure. I’ve been an actuary for 14 years now, and it’s still there. Not as strong as it was back when I was first starting, but it’s still there.”
• Don’t wait for imposter syndrome to go away because you’ll miss out on opportunities to grow in the meantime. The best way to learn is by doing.
• In a world where everyone is their own worst critic, try being your own biggest advocate.
• Reflect on all you’ve learned since starting your journey, focusing on how far you’ve come since then. Whether you’re three years or one week in a new role, you certainly know more than you did when you started. Don’t sell yourself short!
• One way that I remind myself how far I’ve come is by volunteering as a mentor for the CAS Student Central Summer Program. While I still feel relatively new to the world of actuarial science, mentoring college students who are first considering this career path reminds me how far I’ve come since I was in their shoes. Many of the questions they have are the same ones I had when I first started out, and now I’m able to answer these questions from my own professional experiences. Being three years into my career puts me in an ideal position not only to impart my knowledge, but to remember and relate to the feeling of learning something new. Sharing these perspectives is a rewarding experience and reminds me how far I’ve come.
Although imposter syndrome may never fully go away, it does get easier to manage and ignore as time goes on. While it can inhibit your development and goals if you allow it, it can also serve as a motivator to improve and a reminder of the progress you’ve made so far. Empower yourself to take on new challenges and continue growing, even when you have doubts. Remember: “A comfort zone is a beautiful place, but nothing ever grows there” —Unknown.
Sources:
https://www.psychologytoday.com/us/basics/imposter-syndrome
https://grad.uc.edu/student-life/news/all-about-imposter-syndrome
