The Actuarial Field

[dealfinder85]

Hard to define "the average Joe" but if someone's formal math education ended in high school, with a good brush up on high school material, I believe that with enough time dedicated to studying, someone with a decent head can pass .

you need more than a decent head to pass. i know many ppl with more than decent math heads but the speed on the exams has been a big issue for them. also, in addition to smarts, you need the dilligence and hasmada that it takes to pass these suckers

[yr]

you need more than a decent head to pass. i know many ppl with more than decent math heads but the speed on the exams has been a big issue for them. also, in addition to smarts, you need the dilligence and hasmada that it takes to pass these suckers

I think that is the more important part.

[MosheD]

I think that is the more important part.

+1
My sibling (26) passed all 10 and she was legitimately studying for 5 years straight...

[EJB]

The big 4 all have actuarial consulting groups and I believe some of those get involved in audits.

Pick me!

[hvaces42]

Aren't actuaries just boring accountants? Most would say actuaries are more limited in employment opportunities vs. Accountants
 The pay scale is better to start, but how many of you know actuaries who work for themselves? So it is limited in growth opportunities as well.

[EJB]

+1
My sibling (26) passed all 10 and she was legitimately studying for 5 years straight...

2009-2014 for me

[EJB]

Aren't actuaries just boring accountants? Most would say actuaries are more limited in employment opportunities vs. Accountants
 The pay scale is better to start, but how many of you know actuaries who work for themselves? So it is limited in growth opportunities as well.

Easier to do well as an actuary. Very hard to be a millionaire.

If you're smart, a hard worker, have decent soft skills, and pass your tests, you can make around 200k without working like a maniac.

[churnbabychurn]

Easier to do well as an actuary. Very hard to be a millionaire.

If you're smart, a hard worker, have decent soft skills, and pass your tests, you can make around 200k without working like a maniac.

Sounds great if there is also job security.

2009-2014 for me

So investment of 5 years full time study, or weekends+evenings etc?

How about passing just 2-3 tests and finished? Still get the 200k?

[ChaimMoskowitz]

How about passing just 2-3 tests and finished?

2-3 weeks studying for each test but don't expect to pass on the first try. 

[EJB]

2-3 weeks studying for each test but don't expect to pass on the first try. 

Weeks? Ha!

[EJB]

Sounds great if there is also job security.

So investment of 5 years full time study, or weekends+evenings etc?

How about passing just 2-3 tests and finished? Still get the 200k?

Most ppl average studying 300 hours per exam on top of work. If you stop after 2-3 tests you'll be no more than a glorified number cruncher. And will max out at around 100k, maybe less.

[whacked1]

@EJB Where did you go to school? Did you have a decent internship?

[yr]

Weeks? Ha!

+1

[EJB]

@EJB Where did you go to school? Did you have a decent internship?

YU and yes.

[yr]

YU and yes.

Maybe that's the part where I went wrong 

[yos9694]

Easier to do well as an actuary. Very hard to be a millionaire.

If you're smart, a hard worker, have decent soft skills, and pass your tests, you can make around 200k without working like a maniac.

Aren't actuaries just boring accountants? Most would say actuaries are more limited in employment opportunities vs. Accountants
 The pay scale is better to start, but how many of you know actuaries who work for themselves? So it is limited in growth opportunities as well.

This is true - I know a few actuaries and many have commented that they wish there was an opportunity to moonlight but there is none. Its possible to go off on your own full time but only by selling your services to companies and you'd need to be exceptional, with great reputation and strong contacts.

200k these days is not such a far out number for any developed professional but I'd say its about right for an actuary who doesn't move up the corp ladder. On actuarial skills alone theres a ceiling for your talent. But combined with business skills lots of opportunities open up that pay double that or more.

[dealfinder85]

Funny comparing accounting to the actuarial field

[EJB]

Funny comparing accounting to the actuarial field

why? Both ppl count

[yr]

Funny comparing accounting to the actuarial field

The best is when you tell someone "I'm an actuary" and they're like "oh, so that's just accounting with a little more school".

[hvaces42]

Funny comparing accounting to the actuarial field

Comparison was as to personality, not to the field itself. Boring people who would otherwise be accountants become actuaries instead.