Actuary Jobs

[QueHuong]

I was talking about this math major who wants to be an actuary. He referred me to this site for more info:
http://www.beanactuary.org/

He *said* (don't know if it's true) that chances are good for you to get a job if you pass the first exam. I looked over what would be covered over the first exam and skimmed through actual old tests and it seems doable. I'm a sophomore in Biomedical Engineering and am taking Calc IV and will be taking Engineering Stats and Probability, and that should give me the foundation to pass that exam. By no means is it easy, but I was thinking of putting aside a few weeks to study for the test. So if I pass (probably from barely passing to decent), how are my chances of actually landing a part-time job as an actuary while still being in school (i.e. not having a degree yet)? Am I just being a little too optimistic? Either way, I am probably going to take the test when I'm ready just for the hell of it.

And when I get a degree, I might just become an actuary instead of an engineer. It may be one hell of a boring job, but they make a lot. Both start out the same, but get 10+ years in the industry and salaries can be over $100k, a hell lot better than what an engineer would make.

Any more info about this job and qualifications needed is appreciated.

Oh, forgot: my GPA is a little under a 3.0 - how much is having a high GPA emphasized for this job?

 

[UNCjigga]

Watch 'About Schmidt' 🙂

Seriously though, I met a guy from L.A. in Vegas once who had just taken the first exam and he was already preparing for the 2nd. Aren't there like 5 or 6 exams total??? Can't remember. Anyway, he seemed like a pretty cool guy, but the math is pretty intense. Don't listen to all the stereotypes about actuaries...but you should probably learn to play golf all the same!

 

[Hayabusa Rider]

An acutary is an accountant without a personality 😀


What I will do is forward this to my brother who is a full member of the Society. He probably won't get back to me today, but I will either post his response or PM it too you.

 

[upsciLLion]

Originally posted by: MindStorm
I was talking about this math major who wants to be an actuary. He referred me to this site for more info:
http://www.beanactuary.org/

He *said* (don't know if it's true) that chances are good for you to get a job if you pass the first exam. I looked over what would be covered over the first exam and skimmed through actual old tests and it seems doable. I'm a sophomore in Biomedical Engineering and am taking Calc IV and will be taking Engineering Stats and Probability, and that should give me the foundation to pass that exam. By no means is it easy, but I was thinking of putting aside a few weeks to study for the test. So if I pass (probably from barely passing to decent), how are my chances of actually landing a part-time job as an actuary while still being in school (i.e. not having a degree yet)? Am I just being a little too optimistic? Either way, I am probably going to take the test when I'm ready just for the hell of it.

And when I get a degree, I might just become an actuary instead of an engineer. It may be one hell of a boring job, but they make a lot. Both start out the same, but get 10+ years in the industry and salaries can be over $100k, a hell lot better than what an engineer would make.

Any more info about this job and qualifications needed is appreciated.

Oh, forgot: my GPA is a little under a 3.0 - how much is having a high GPA emphasized for this job?

A degree is not necessary, though I imagine it is encouraged. Your GPA is a little low, but if you pass the exams that's what companies care most about. There's a lot of probability on the first test that is just stuff you'd have to learn from either a dedicated self-study plan or by taking a couple classes dealing with probability. I'm not sure if your engineering class will be broad enough to teach you what you need to know, but it will definitely give you a good start. If you have any other serious questions, I'm sure I could ask my actuarial science advisor.

ups

 

[QueHuong]

With my engineering classes, I would know enough of the calculus part; the engineering stats and probability is only one quarter which worries me a little, but if I need to, I can always take the full year. But aside from that, I think my major will give me a more intensive math background than needed (at least when compared to the economics or business majors). On the other hand, I would need to take some business classes for exam 2, but I'm not too worried about that either.

So am I being realistic in thinking I can land a decent part-time paying job if I pass the first exam?

 

[upsciLLion]

Originally posted by: MindStorm
With my engineering classes, I would know enough of the calculus part; the engineering stats and probability is only one quarter which worries me a little, but if I need to, I can always take the full year. But aside from that, I think my major will give me a more intensive math background than needed (at least when compared to the economics or business majors). On the other hand, I would need to take some business classes for exam 2, but I'm not too worried about that either.

So am I being realistic in thinking I can land a decent part-time paying job if I pass the first exam?

See here.

 

[KMurphy]

In the industrial world, that is called "Reliability Engineering".

 

[Hector13]

Originally posted by: KMurphy
In the industrial world, that is called "Reliability Engineering".

not really; actuaries are usually found at places like insurance or healthcare companies.

The money is not great, but it isn't bad either if you don't mind the work.

 

[AvesPKS]

A buddy of mine works for a company that manages pensions (I think they do something with insurance as well), and he told me it is very lucrative, high demand job.