So what’s the point? Do actuaries really rake it in or something? Or is it just useless knowledge for the sake of it? (Disclosure, I work with some people who have left actuarial side for pure investing…doesn’t seem like they are leaps and bounds above us mortal CFA guys, especially not compared to the hardcore academic types in the office).
Actuaries used to be the highest paid profession for math majors. I think some sects of engineering might have taken over though. EDIT: it’s debatable if engineering is pure math as it involves prob as much science/physics depending on which sector you go into of course
nolabird032 Wrote: ------------------------------------------------------- > Actuaries used to be the highest paid profession > for math majors. I think some sects of engineering > might have taken over though. > > EDIT: it’s debatable if engineering is pure math > as it involves prob as much science/physics > depending on which sector you go into of course just a couple weeks ago there was a ranking of top paid professions and top 10 were engineering related and actuary was 11.
I picked actuarial math as my major in college based solely on that fact (lots of $$)… I wanted to major in math and I didn’t want to be a teacher. If I could do it all over again, I’d probably look into getting into OR… or maybe an engineering program.
jbaldyga Wrote: ------------------------------------------------------- > I’m wary of any claims of relative difficulty from > people who have been through both programs. You > can’t start each program with the exact same level > of initial knowledge, so it’s impossible to > compare accurately. It sounds like many of the > dual designation people chiming in started the > actuary track earlier, so they have that > experience to draw on when preparing for the CFA, > which might give the impression of “easier”. i started both at relatively the same time. im 23 now… started the actuarial exams at 21, and CFA at 22… i still think the actuarial exams are harder. i see your point though, anyone who already got their FSA or already has their ASA and is working towards their FSA and then is going for the CFA (these are the most common situations) will find the cfa exams easier because they have the experience and know-how already.
needhelp Wrote: ------------------------------------------------------- > nolabird032 Wrote: > -------------------------------------------------- > ----- > > Actuaries used to be the highest paid > profession > > for math majors. I think some sects of > engineering > > might have taken over though. > > > > EDIT: it’s debatable if engineering is pure > math > > as it involves prob as much science/physics > > depending on which sector you go into of course > > > just a couple weeks ago there was a ranking of top > paid professions and top 10 were engineering > related and actuary was 11. Are you sure this wasn’t undergrad college majors? Most of these surveys use purely base salary. Pretty sure the top base salary would be various people in medicine (bonus is not a big component, if at all), airline pilots, CEOs, etc. Engineers may be in there somewhere, but not all that dominant.
actuary ranks #2 right now for the best job according to WSJ (looking at pay, stress, etc. overall) http://online.wsj.com/article/SB123119236117055127.html
IheartMath Wrote: ------------------------------------------------------- > actuary ranks #2 right now for the best job > according to WSJ (looking at pay, stress, etc. > overall) > > http://online.wsj.com/article/SB123119236117055127 > .html Nice survey, too touchy feelly for me though. Pure income is at least a concrete number, and more is always better (unless you really hate money or something). If you look at the methodology for this survey, it is in no way concrete. It rates competition in the workplace as a negative. Degree of public contact was also a negative, which is interesting. Don’t have time to go through the rest of it, but I would rank those two as positives for my personality. Not saying I disagree with everything in the survey, just saying a lot of it could be BS or not applicable depending on how you roll.
yeah i didnt entirely agree with it either, just throwing it out there.
Iheart – yea I’m not sure how much this would affect perceived difficulty. Some stuff people know well going in to each program. I for example had an Econ MA (please hold down the laugher) going into CFA so the econ and quant were cake, while accounting was a b!tch cuz i never had a class in it. I looked at the diagnostic test for the first actuarial exam and thought it was cake also, straightforward probability and some stats. It all depends on your background going in. But your average undergrad with a semi-quantitative background would probably have a tougher time w/ actuarial because the math is more complex, IMO.