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  • First actuarial job

    Hi everyone,

    I am a computer engineering major at the University of Waterloo in Canada, set to graduate in April 2010. I am currently doing my last internship right now as a Business Analyst, and have no prior actuarial experience.

    I did however pass Exam P in September and Exam FM in December (provisionally). I haven't yet received any interviews though.

    What I wanted to know is, how difficult is it to get the 1st job if you are not an actuarial science major? Is it worth it for me to keep writing exams?

    Thanks for any help!

  • #2
    I can only speak for my experience/expectations in US. I wouldn't care if you were a biology major as long as you had exams passed and hopefully some experience. Unless of course I suspected you were only trying to get a job as an actuary until you finish your novel

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    • #3
      Originally posted by blimproute View Post
      Hi everyone,

      I am a computer engineering major at the University of Waterloo in Canada, set to graduate in April 2010. I am currently doing my last internship right now as a Business Analyst, and have no prior actuarial experience.

      I did however pass Exam P in September and Exam FM in December (provisionally). I haven't yet received any interviews though.

      What I wanted to know is, how difficult is it to get the 1st job if you are not an actuarial science major? Is it worth it for me to keep writing exams?

      Thanks for any help!
      The industry is currently saturated with candidates with a couple of exams
      who for one reason or another can't get their foot in the door. I am kicking myself for not having become a quant. I should have majored in financial math instead of pure math.
      Last edited by R_T; December 26 2009, 07:54 PM.

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      • #4
        Just because you majored in math, does not mean you cannot become a quant. A bachelors in math is probably a good starting point to go to Berk or CMU or elsewhere and get a degree in financial math.

        I do love that you are making predictions about the value of an FSA

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        • #5
          Well that's not comforting to know.

          Forgive my ignorance, but what is a quant? Quantitative something?

          Originally posted by R_T View Post
          The industry is currently saturated with candidates with a couple of exams
          who for one reason or another can't get their foot in the door. Do yourself a favor-stop with the exam nonsense and become a computer engineer. The SOA seems to expect a lot more FSAs in the future, as they are now offering most of the preliminary exams 3 to 4 times a year. Pretty soon the FSA designation will be about as prestigious as the CPA, and the actuary will be kicking himself for not having become a quant. I wish I had majored in something other than math.

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          • #6
            That's the thing I mean though, I have had 5 internships but, none of them were actuarial, so no actuarial job experience. Do you think I might get a try after another 1 or 2 exams?

            Originally posted by NoMoreExams View Post
            I can only speak for my experience/expectations in US. I wouldn't care if you were a biology major as long as you had exams passed and hopefully some experience. Unless of course I suspected you were only trying to get a job as an actuary until you finish your novel

            Comment


            • #7
              Originally posted by blimproute View Post
              Well that's not comforting to know.

              Forgive my ignorance, but what is a quant? Quantitative something?
              http://www.google.com/search?hl=en&s...&aq=f&oq=&aqi=

              Whatever field you end up, odds are you'll have to do research. Google is everyone's friend.

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              • #8
                Originally posted by blimproute View Post
                That's the thing I mean though, I have had 5 internships but, none of them were actuarial, so no actuarial job experience. Do you think I might get a try after another 1 or 2 exams?
                Can you spin any of them to relate to actuarial work? Even if you can't, you should be able to talk about your internships and the level of work you received, how you had to meet deadlines, etc.

                You should always keep trying, never know when it might pay off.

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                • #9
                  Isn't being a prospective actuary all about making predictions?
                  Studying stuff like stochastic calculus and martingales and working
                  in a wall street type of environment 70-80 hours a week doesn't sound
                  like a lot of fun. The financial derivatives material on MFE bored me to death!
                  I think i will stick to actuarial science, in spite of the possible adverse outcome of doing so.
                  Last edited by R_T; December 27 2009, 02:39 PM.

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                  • #10
                    Originally posted by R_T View Post
                    Isn't being a prospective actuary all about making predictions?
                    Studying stuff like stochastic calculus and martingales and working
                    in a wall street type of environment 70-80 hours a week doesn't sound
                    like a lot of fun. The financial derivatives material on MFE bored me to death!
                    I think i will stick to actuarial science, in spite of the possible adverse outcome of doing so.
                    LOL so you are predicting it's going to be worth less but yet will stick to it. Makes sense. Are you going to revisit this thread in 5 years and complain?

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                    • #11
                      ..........
                      Last edited by R_T; February 10 2010, 04:22 PM. Reason: deleted

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