Tips for Actuarial graduate

Hello, I’d like to help a friend with some tips on what he should do for his career, so I’ll give a quick brief.

  • 25 years old, B.S in Actuary

  • Done 2 of the 5 SOA exams

  • 2 years work experience in a life insurance company ending last August

  • Currently moved to Duabi to find a better job, working as a market researcher for Euromonitor (temporariily)

  • No (or low profile) actuarial jobs in that market

  • Thinking of changing careers to finance, asked me about starting the CFA program since it opens opportunities (I know…)

  • Trying to advise him by focusing on a more actuarial, or a mathematical finance direction

  • He doesn’t care about finance specifically, just as long as it’s quantitative

Should he:

1- Do a 180 and go for a financial analyst career switch (CFA route most probably).

2- Continue with the SOA exams and hope he gets a rare pension fund or insurance opporutnity in the future

3- Do a MsFE (best option imo, but least realistic because of $$) and leverage his mathetmatical skills to a quantitiative role in finance

4- Do a more quant-focused finance program, but I’m not knowledgable in that field to advise him. I know of FRM, PRM, CQF that are quantitative in nature. He would prefer an overlap with actuarial science

5- None of the above

Realisticly, what are his options and career path based on the experience and goal?

I would tell your friend to finish the SOA exams and keep gaining work experience. I think most companies pay for your SOA exams and in some cases give you time off to study, and after passing each course you might even get a bump in pay.

I’m sure there are other job opportunities in Europe if relocation isn’t an issue. In any case, work experience is the ticket to climbing the corporate ladder, not getting more letters to add to a resume.

Well, that’s the fork in the road.

He will start a family in the UAE, and will be unable to relocate (and probably difficult to pursue a Ms abroad). Since actuarial jobs are pretty rare and unheard of in that region, he was thinking of doing something more available, but simillar to his type of work.

sure… you want to help “a friend”


It’s not for me. It’s for a friend. This friend is having some problems, so I’m going to ask the shrink some questions and get

some answers for my friend."

How well does plumbing pay in the UAE?

Except that I’ve mentioned before I’m an Economics major.

Not enough to feed the kids.

^ That’s unfortunate then. Why does someone leave a job and a country and move to Dubai for a better job, when there are apparently no jobs? Seems kind of weird.

They’re market is expanding really fast, he just wasn’t able to find his niche catching up. In any case, he’s in a relationship with somebody there, so it wasn’t much of a choice either, someone had to move, and it was him. indecision

Well then tell your boy that unless the future Mrs. makes more coin than a Actuary then they may need to move out of the region to support the growing family.

(Sounds like he’s p**** whipped to me).