Actuaries need reply!

Discussion in 'Community Discussion' started by 76ShovelHead, Oct 28, 2014.

  1. 76ShovelHead macrumors 6502a

    76ShovelHead

    Joined:
    May 30, 2010
    Location:
    Florida
    #1
    I'll be training in my stores' pharmacy very soon, and up until now I was sure that was going to be my career. However, I took quite a few career tests where Actuary was 3rd if not 1st on the list. So I'd love to get some advice from our community...

    From what I understand, you calculate risks for insurance companies, and the need is growing as private companies are also hiring for their own needs.

    Pay is mostly the same as a pharmacist. Somewhere in the six figures.

    Education is a Bachelors?

    What can I expect from choosing this career path? Do you love/hate your job? Any advice for someone like me looking into this career?

    Anyone working for MetLife? a google search pulled up their application for new actuaries in which you start out assisting current actuaries. How does this process work?
     
  2. Scepticalscribe Contributor

    Scepticalscribe

    Joined:
    Jul 29, 2008
    Location:
    The Far Horizon
    #2
    Hm.

    Actually, I have a few questions: I am curious to know, firstly, whether or not you are already a qualified pharmacist; secondly, why you chose that field, and thirdly, having done so, whether you like it - or, more to the point, why you are having second thoughts about what was undoubtedly a challenging, time-consuming, professionally demanding (and possibly quite expensive) qualification so close to achieving the actual qualification?

    On the matter of studying to become an actuary itself, is your potential interest simply because you have scored well on aptitude tests, or do you have an interest in the actual career and what it may entail?

    I'm not from the US, so the qualifications and aptitudes sought may well differ Across The Pond.

    However, the one thing I do know about studying to be an actuary (and I know a few people who have done just that) is not just that you need to be pretty good at mathematics; in fact, you need to be able to demonstrate that your abilities and aptitudes in the field of mathematics are outstandingly good if you wish to be considered for training in this field. Those whom I know who work in the field all have outstanding grades in the field of maths, and they have said not to even think about applying unless your grades in maths are exceptional.






     
  3. mobilehaathi macrumors G3

    mobilehaathi

    Joined:
    Aug 19, 2008
    Location:
    The Anthropocene
    #3
    You took a 'career test' and are ready to dump your current path?
     
  4. Scepticalscribe Contributor

    Scepticalscribe

    Joined:
    Jul 29, 2008
    Location:
    The Far Horizon
    #4
    Yes, indeed.

    Actually, you have phrased more succinctly the thoughts - or questions - that were running through my mind on reading the OP's post. It is rather curious, to say the least...
     
  5. 76ShovelHead thread starter macrumors 6502a

    76ShovelHead

    Joined:
    May 30, 2010
    Location:
    Florida
    #5
    Sorry if I wasn't clear enough, I'm actually just about to start college for pre-pharmacy. I'm currently a cashier at a well known retailer in Florida, and the pharmacist noticed me about a year ago and asked me if I would consider moving to the pharmacy. Since then she has motivated me into pursuing this career path, and so far my outlook has been very optimistic. My second thoughts are about the length of schooling. With a two year program from my local college I will be able to transfer to a university for another four years of study. Six years is a long time to live on meager supermarket pay, however. And so I've been tossing around the idea of just earning a bachelor's degree in a field with the same earning potential. I'm not quite sure I want to retire from a supermarket lol.

    ----------

    Fresh out of high school bro. Not quite sure I want to put in 6 to 8 years of schooling all the while making minimum wage.
     
  6. Scepticalscribe Contributor

    Scepticalscribe

    Joined:
    Jul 29, 2008
    Location:
    The Far Horizon
    #6
    Fair enough.

    However, are your grades in maths outstanding? While the specific requirements to study in this field may differ in the US from the situation in the British Isles, I do know that in order to be an actuary one needs outstanding (by that I mean "A+" level grades) grades in mathematics in order to be even considered for training.

    Those sort of grades imply extraordinary aptitude and natural ability, combined with very very hard work. This is a demanding course and career, albeit well rewarded and remunerated when one is qualified.

    Why not stick with pharmacy? Seriously, anything that you study which you hope will lead to a handsome salary will - most likely - require several years of study. Serious study, at that…...
     
  7. sviato macrumors 68020

    sviato

    Joined:
    Oct 27, 2010
    Location:
    HR 9038 A
    #7
    You'll earn much more than a pharmacist but it'll be tough to get there.

    A close friend of mine is studying to be an actuary. In undergrad, it's a lot of math and stats and it's quite intense. Unless you were 95%~ in math in highschool I wouldn't enroll in an actsci program. You'll also have about 5 professional exams that you'll have to write if I recall correctly and they're no walk in the park either.

    I recently had lunch with a VP of an investment fund who started out as an actuary. He said it was good money early on but the work was boring as hell as he'd just crunch numbers 60 hours per week.

    YMMV but I wouldn't consider this just a career to choose based on career tests. Do your research and make sure that this is for you and that you can handle it.
     
  8. mobilehaathi macrumors G3

    mobilehaathi

    Joined:
    Aug 19, 2008
    Location:
    The Anthropocene
    #8
    Well, since you know very little about either career why don't you make an effort to get familiar with both? You're just starting college; this is the perfect time.

    What makes you think a 'career test' can tell you something about yourself that you couldn't do a better job discovering?
     
  9. adk macrumors 68000

    adk

    Joined:
    Nov 11, 2005
    Location:
    Stuck in the middle with you
    #9
    You're going to be in the career you choose for over 40 years. An extra two years to be in a career you're clearly already enjoying will be a drop in the bucket when you look back. If the only thing you like about actuarial sciences is the paycheck you'll be much more likely to burn out.
     

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