I know actuaries usually don't go for an advanced degree, but I really want to have one. Besides applying for the Master's program in Actuarial Science offered by Columbia or other schools, are there any other programs that can complement the work of an actuary? Or the choice doesn't matter at all? Any advice is greatly appreciated!
2007-05-17 03:17:18 · 3 answers · asked by The Confused Econ Major 2 in Education & Reference ➔ Higher Education (University +)
Go for the master's to have the masters, but try to choose a program that would help you study for the exams. If you can't do actuarial science, go for something that combines math, stat, economics, finance, etc.
Actuaries sometimes have advanced degrees, but it is not the exams that get you the job or advance you through the profession--it is passing those exams!
You probably know by now that technically, you do not need any degree to be an actuary, but commonly, the information and skills you need to pass exams are taught at the college level.
If I were you, I would probably go for the Master's and study for an exam or two concurrently. That way if you don't pass an exam (they are tough) then you still would have a master's degree. And if you do, then you would stand out a little bit against recent BA/BS grads who would also have an exam or two.
You just never know what life could throw at you. You can study for an actuary exam anytime you want, but as you get older, start a family (assuming you haven't done that yet) and all that adult stuff, it is harder to be in school.
I'm speaking straight from life experience. I earned an M.S. with an actuarial emphasis, but choose not to enter the profession. Now after 5 years with a wonderful hubby, sweet toddler, house and cars, I'm studying for exam P again.
Good luck!
2007-05-17 06:40:56 · answer #1 · answered by CD & EC 2 · 0⤊ 0⤋
What makes you think that actuaries don't get graduate degrees? I suspect that most do.
An MS in Statistics, Financial Engineering, Operations Research, Economics or Finance would be a good place to start. I agree with another poster than an MBA would be good to have -- but the good MBA programs want three to five years of work experience -- and for someone good enough to become an actuary -- settling for anything other than a food MBA would be stupid.
2007-05-17 04:11:07 · answer #2 · answered by Ranto 7 · 0⤊ 0⤋
You could certainly think about an MBA.
2007-05-17 03:33:15 · answer #3 · answered by CanProf 7 · 0⤊ 0⤋