I have a chemistry degree (requires strong math and application skills) and I am pursuing an MBA. I am taking a college credit math actuary Exam P prep class, taking the VEE required classes, taking other high level statistics/econ/finance electives, and studying for Exam P while I am earning my MBA. I see on many actuary job sites that the company wants a degree in econ or math to consider the applicant. Will I be at the bottom of the applicant pool because I dont have an econ/math background, or will the MBA satisfy or even top the desire for an applicant with those backgrounds? (My school doesn't offer any kind specialization.)
2006-07-06 06:48:54 · 7 answers · asked by lifetimestudentofmath 1 in Science & Mathematics ➔ Mathematics
As a manager, I can say you don't have to worry. Submitting a cover letter with a resume clearly showing your intent should definitely get you the interview. If you're serious, you should at minimum have passed exam P/1
Entry level positions generally require that you have at least one exam under your belt, preferably more. There are companies that might look at you without any exam, but those are few.
Since you did start with chemistry, and now you are going for an MBA, why are you now considering a career in the actuarial field? What was your original intention and what has now made you rethink your position. I hope it's not only because of the money.
2006-07-06 07:21:36 · answer #1 · answered by idiotsavant 1 · 0⤊ 0⤋
I'm an actuary (FSA - fellow of the Society of Actuaries) and used to work in the insurance industry, although now I'm in sales & consulting. I actually used to run the "actuarial student" program at a large insurer. The exam structure has changed since I left the insurance industry side 6-7 years ago, but I would say that as far as being hired the specific degree (although one is needed in a somewhat relevant or rigorous area) is less critical than actually passing the exams. Most companies do require the candidate to have passed some exams before hiring onto an actuarial program. Your educational background shouldn't be any impediment to getting a postion. You can get more information at the Society's website which is WWW.SOA.ORG
2016-03-27 06:34:28 · answer #2 · answered by Anonymous · 0⤊ 0⤋
My brother's studying to be an actuary, and he has already taken econ and math in university. If you do well in the huge number of tests, and get the MBA, you might seem better to employers, even though you dont have the background. A "background" in econ/math might not mean a lot, but it would be better if you actually had one.
For individual employers, they'll consider the MBA and the background differently, but I think you might have a chance compared to other candidates. Math will definately be necessary though.
2006-07-06 06:55:26 · answer #3 · answered by confuzzled 2 · 0⤊ 0⤋
What focus is your MBA in. Are there any choices, such as finance?
Since you already have the BS in Chem, and are already starting the MBA program, I think your best bet would be to tackle the most mathematical MBA focus that is available, and continue. Hopefully, the test, plus your education, should be good enough to prove your abilities.
2006-07-06 07:18:37 · answer #4 · answered by powhound 7 · 0⤊ 0⤋
I imagine if you are able to pass the required certification examinations you can become hired. However, most entry level actuaries are hired with applied mathematics or actuary degrees and are required to take the certification examination to advance.
2006-07-06 06:56:46 · answer #5 · answered by dasmart1 1 · 0⤊ 0⤋
Yes, you need a strong background in commercial maths.
2006-07-06 06:53:09 · answer #6 · answered by ag_iitkgp 7 · 0⤊ 0⤋
without a degree in math or economics.. you will be left off of the list totally for some companies... others.. yes.. you'll be at the bottom.
2006-07-06 06:55:20 · answer #7 · answered by ♥Tom♥ 6 · 0⤊ 0⤋