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Anybody know anything about Actuaries?
Posted on 3/25/13 at 5:52 pm
Posted on 3/25/13 at 5:52 pm
Anyone on the OT work as an actuary. My roommate is talking about getting his masters in said field. Evidently the certification is insanely difficult. Their work entails producing risk premiums?
Posted on 3/25/13 at 6:27 pm to Mootsman
Is your roommate a math genius? I don't know much about the career off the top of my head, but most actuaries that I know or know of are quite gifted in the quantitative department. If you've ever seen "Along Came Polly," Ben Stiller's character is an actuary. They help insurance companies determine risk, and I've also heard of actuaries working with pension funds.
Posted on 3/25/13 at 6:31 pm to Mootsman
quote:
Anyone on the OT work as an actuary. My roommate is talking about getting his masters in said field. Evidently the certification is insanely difficult. Their work entails producing risk premiums?
Actuaries are a highly sought after commodity in the financial industry, specifically insurance. Very well compensated, as they should be.
Posted on 3/25/13 at 6:37 pm to Mootsman
I don't think we have any actuaries/actuarial analysts that frequent here so ill give it a go based on researching it myself several years ago.
If he has a semi-quantitative degree or background, there really isn't a need to go back to school for an MS. If he has a decent GPA he should be able to land an entry level gig as long as he is willing to relocate.
The exam process is hella rigorous. Think 5-10 years of CFA exams. He'll work 40-50 hours a week but will probably have to study an additional 20 hours a week consistently if he wants to progress. And progression is apparently important to some firms. It sounded common to include this into people's performance reviews.
From what I here, the work itself isn't too demanding, unless you're a consultant. If you work for an insurance company, the work seemed pretty straight forward. I've heard some call it boring. He'll be a spreadsheet jockey for the first few years but afterwards it seems the work gets more interesting (relatively speaking).
As I said earlier, he will have to be willing to relocate. The jobs are sparsely scattered all across the country but seem to concentrate in Chicago, NYC, ATL, and Conneticut (for reasons I don't understand).
Personally, I was all for it but I didn't want to sign my life away to take the exams. I was already in my MS program and had two small kids, so I was ready to be done with school. But I think I would have liked the work.
Just my two cents based on a little research. Good luck to your bud.
If he has a semi-quantitative degree or background, there really isn't a need to go back to school for an MS. If he has a decent GPA he should be able to land an entry level gig as long as he is willing to relocate.
The exam process is hella rigorous. Think 5-10 years of CFA exams. He'll work 40-50 hours a week but will probably have to study an additional 20 hours a week consistently if he wants to progress. And progression is apparently important to some firms. It sounded common to include this into people's performance reviews.
From what I here, the work itself isn't too demanding, unless you're a consultant. If you work for an insurance company, the work seemed pretty straight forward. I've heard some call it boring. He'll be a spreadsheet jockey for the first few years but afterwards it seems the work gets more interesting (relatively speaking).
As I said earlier, he will have to be willing to relocate. The jobs are sparsely scattered all across the country but seem to concentrate in Chicago, NYC, ATL, and Conneticut (for reasons I don't understand).
Personally, I was all for it but I didn't want to sign my life away to take the exams. I was already in my MS program and had two small kids, so I was ready to be done with school. But I think I would have liked the work.
Just my two cents based on a little research. Good luck to your bud.
Posted on 3/25/13 at 8:52 pm to Mootsman
I have no idea if this is true or not, but another parent on my kid's baseball team is a teacher. She said asked me yesterday what I knew about actuaries. She said that one came to talk to her class this past week and she said they found it very interesting. she said that there were only 6 in Louisiana. Any truth to this?
Posted on 3/26/13 at 8:46 pm to Mootsman
very, very difficult. i hope your buddy is a math whiz
Posted on 3/27/13 at 12:14 am to Mootsman
Have dealt with them with healthcare. Most are Indian and geniuses- which I am not lol
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