July 2009 Weddings
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Any Actuaries?

I can't remember if anyone or anyone's DH is an actuary or not.  If some is, could you please tell me a little bit about your job.

Since being laid off, I was thinking of taking the first few actuarial exams and trying to get a job in that field.  I have a degree in mathematics that I haven't really used outside of teaching and I thought this might be a good time to explore my options.  Any thoughts?


Re: Any Actuaries?

  • I'm not an actuary nor is my husband but it is something I considered because I also have a Mathematics degree.  I never looked into it too much, but one of my acquaintances was an actuary.  She said in order to sit for some of the exams you had to have begun a master's program and that most companies would not hire without a master's degree in actuarial science or something else---can't remember what it is called now.

     She became an actuary about 10 years ago and I think quite a bit has probably changed  since then.  In all honesty, I"m not 100% sure I trust her information either--she is someone that will make stuff up to make herself sound better if that makes sense.

    She loved her job but worked incredibly long hours, which is why she eventually switched careers. When I was a freshman in college it had,  on average, the highest paying starting salary  in America(according to a speaker at a seminar).  The speaker then went on to say there is a reason it's the highest starting salary because it's very demanding.

     On a side note though.  When I was in college the math majors had these seminars where heads of different companies came to speak to us and different people came to speak with us about what you can do with a math degree.  One of the speakers that spoke to the Math majors really surprised me by what he said.  He said if there are 2 applicants applying for a general business position at a company and neither of them has any experience 9 times out of 10 a Math person would get the job over a person with a business undergrad degree because in order to finish a math BS you have to prove you are a problem solver.  Again, it's not somethign that I know is necessarily true, but he's not the only person I've ever heard say that.  The only reason I say that is because even if you think you may not be technically qualified for because it's not in your field--if it interests you it still may be a good idea to apply. What's the worst that can happen.

     Another sidenote:  Have you thought about private tutoring in the meantime?  I don't know where you live, but certain parts of the country can demand quite a bit per hour for math tutoring.

     Good Luck with everything!

  • Numbers scare me, however did you xp this on 9 to 5. I think there are some Actuaries over there.
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  • Thanks for the info.  It is greatly appreciated.  I am definitely going to look into all of my options.  Also, thanks for the idea for looking at 9-5 board.  I didn't think of that.
  • My DH is an actuary well I student actuary anyway. You don't need a masters to be hired DH just has a bachelor in math and he had passed the first exam when he got an internship then was hired when he completed an internship. An actuary that has not finished his/her exams is called a student actuary. Ins. companies hire you to work for the company but they also pay for your exams and for study hours. There are 10 exams total (well 2 are reading and projects called the FAP). My DH has passed 4 exams and is finishing up the first half of the FAP. If he passes that he will move on to the fifth exam. After that point he will become and ASA (first actual  title of an actuary). When he finishes all of his exams he will be an FSA.

    CONS: tests and study process is grueling. In order to keep your job you have to have a 50% pass rate and if you dont keep it you are fired. DH was on the line for his forth exam and thankfully passed. Boy was that stressful. You have to sit for a test each sitting whether you are ready or not which is about every 6 months. Fortunatly, once you get your ASA you have more job security. The hours are long but I think it depends what you are doing exactly. DH gets to work by 7 and sometimes doesn't get home until 7 but other times he gets home at 5 so it depends.

    (the rules and benefits vary between companies)

    PROS: Excellent pay. DH gets raises every year plus extra raises when he passes tests. The earning potential in enormous. Once you become and FSA you make over 6 figures easy.

    DH likes what he is doing but I don't know how he does it. I don't understand what he actually does most of the time.


  • What is an actuary?
    my read shelf:

  • A specialist in the mathematics of risk, especially as it relates to insurance calculations such as premiums, reserves, dividends, and insurance and annuity rates. They work for insurance companies to evaluate applications based on risk. ( from an online definition)

    LOL I don't really know. When people ask me what DH does and what an actuary is I say he assesses risk for an insurance company. That is what he says to if he has to explain further it never fails... eyes start glazing over.

  • I would suck at being an actuary. That kind of math I don't get at all.
    my read shelf:

  • I've learned four things from this post. There is a profession where you can be an actuary. What and actuary is. Alycia's husband is an actuary. And there is a board on the nest called 9-5.


  • image Dslove4life:

    I've learned four things from this post. There is a profession where you can be an actuary. What and actuary is. Alycia's husband is an actuary. And there is a board on the nest called 9-5.


    LOL.. I'll have to agree to the first three!  I never knew there was such a profession either!

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