I don't know how there are people that actually love this profession. What is it exactly that they LOVE about it? Their big fat salaries? I knew quite a few classmates that went into college to study actuarial science. I asked them "why major in that?" The responses I got were this: "Actuaries make good money!" I admire them for their honesty. But those of you who are giving all these BS reasons why being an actuary is great...start being honest. It's really about the money, isn't it?
@kgunby There are people who love being actuaries. I was not one of them. I tried my darndest, but hated my work. The kind of people who love being actuaries are the types who value security and predictability above all other factors. They're good at math, but they reaalllly don't like math...they like calculating. There's a difference. They can interact with others when necessary, but they'd prefer not to. All in all, they're perfectly content staring at spreadseets and secretly surfing the NET
Actuarial profession sucks. Your work is essentially limited to Insurance companies who are penny pinching blood suckers. There are many unemployed actuaries including Fellows. With their limited training (i.e to Insurance related fields) they are stuck in the mud. Private consultants have the largest liability exposure of any job. Many "consultants" are basicaly unemployed, but use that term to disguise their situation. I know of no actuary who recommends their children become actuaries.
@zvamada My statement is for USA market. It is factual, based on first hand, in depth experience and knowledge. I can not comment about other countries.
@milojhanju I know UofT has a good program, UWO as well. Begin by looking at the statistics department, then you can consider specializing in the actuarial path
@fwesh1 exams take a lot of dedication. if you have a job in the field that allows you study time and pays for your courses and exams, it's much easier to handle. you must plan out your effort, however, and take it quite seriously. it is not an easy ride. but after you are done, it's an incredible job, in my opinion.
It's not so easy to be an actuary! Problem solving skills are esential and it takes time to be trained for that! U may be correct to say that it aint difficult to become a member of the profession. But even that requires u to have a really good maths background! To graduate from university with an actuarial science degree aint easy, nevermind writing all those horrible exams to fully qualify! Esp the UK system which requires 16 exams!
The math used in actuarial field has a medium level of complexity, some times people think that the level of difficulty is correlated with the average income. That is totally wrong, every mathematician now that calculus is the base for more complex subjects as Real Analysis , Topology or Abstract Algebra, and a lot of mathematicians around the world are struggling to survive. Actuaries make money in US due to supply and demand only, not math skills.
I hope you're an actuary to say this. Learning this material is by no means "easy."
The way I see it, is that the math is easier after you have mastered it or at least have a general understanding. If a 10 year old boy came up to me asking me for help with addition because it is "hard" for him, I would think it's easy.
In 2009 this career is almost impossible to break into. Don't listen to the people at your University who tell you that you'll have a job straight out of college! Most graduates are waiting almost a year to get an interview!
I'm not talking about me, I'm not out of college yet. I suggest everyone join the many forums out there for actuaries and aspiring actuaries to get a feel for the work and the job market. Many people have caught wind of this career and as a result there is more competition.
My point is that you really should not criticize a profession that is so enormously difficult and complex, and above all valuable beyond measure. Moreover, your impression is totally biased and ignorant.
China used actuaries to help model population growth, now they have negative population growth. Even actuaries involved with pensions or life insurance are wealthy and smart enough to make their decisions based on a strict discipline, not something as crude and animalistic as hate or pain.
The mathematics involved with Actuarial Science is challenging beyond imagination. It is far, far far far more complicated then advanced calculus, which is best suited to very predictable controlled environments such as engineering. Actuaries instead use models that take into account Stochastic Controll Theory, models that must encompass the complexity of imperfect, biased, and oftentimes random human decisions.
An avenue of Actuarial Science is the life insurance industry, and the price tagging you talk of is arrived at through advanced mathematical modelling that you simply wont understand in even a simplistic overview. Without such appraisals, you would have no life insurance whatsoever. Your pension fund will be insolvent and retirement, health and other benefit packages wouldnt exist in the first place. You should remember that you as an invidual opt for such services which you apparently disdain.
Firstly, your understanding of the profession matters very little in terms of any significant scope or effect, unless you are an aspiring actuary or have dealings with them, so asking a tendentuous short sighted question as such is quite arrogant.
Actuarial Science is one of the most respected professions in the world, and qualified actuaries are the rarest most demanded individuals in the world, where a commercial field of study is concerned.
so I am to understand that these are the people who put a price tag on my life for insurance companies, I hope these people are satisfied with the hate and pain they fester when they do that work for the business world
I don't know how there are people that actually love this profession. What is it exactly that they LOVE about it? Their big fat salaries? I knew quite a few classmates that went into college to study actuarial science. I asked them "why major in that?" The responses I got were this: "Actuaries make good money!" I admire them for their honesty. But those of you who are giving all these BS reasons why being an actuary is great...start being honest. It's really about the money, isn't it?
kgunby 4 months ago
@kgunby There are people who love being actuaries. I was not one of them. I tried my darndest, but hated my work. The kind of people who love being actuaries are the types who value security and predictability above all other factors. They're good at math, but they reaalllly don't like math...they like calculating. There's a difference. They can interact with others when necessary, but they'd prefer not to. All in all, they're perfectly content staring at spreadseets and secretly surfing the NET
MelTurpin 4 months ago
BORING. NEXT.
kgunby 4 months ago
Actuarial profession sucks. Your work is essentially limited to Insurance companies who are penny pinching blood suckers. There are many unemployed actuaries including Fellows. With their limited training (i.e to Insurance related fields) they are stuck in the mud. Private consultants have the largest liability exposure of any job. Many "consultants" are basicaly unemployed, but use that term to disguise their situation. I know of no actuary who recommends their children become actuaries.
ilovebees3 1 year ago
@ilovebees3 that is a very ignorant statement, will you do some research before you blabber on next time. google "the actuary jobs uk"
zvamada 11 months ago
@zvamada My statement is for USA market. It is factual, based on first hand, in depth experience and knowledge. I can not comment about other countries.
ilovebees3 11 months ago
@milojhanju I know UofT has a good program, UWO as well. Begin by looking at the statistics department, then you can consider specializing in the actuarial path
Tekakwita 1 year ago
are the exams that bad?
fwesh1 1 year ago
@fwesh1 exams take a lot of dedication. if you have a job in the field that allows you study time and pays for your courses and exams, it's much easier to handle. you must plan out your effort, however, and take it quite seriously. it is not an easy ride. but after you are done, it's an incredible job, in my opinion.
sallyhendrick 1 year ago
It sounds like a somewhat fun job. I like math, but not so much that I'd use advanced math skills in my everyday job.
esca8652 1 year ago
If you are an actuary looking for work, check out the Social Actuary. com. They are posting new jobs every week!
TheMikeHockey 1 year ago
19,000? that doesn't sound right. how old is this?
CrazyBubbleTrain 1 year ago
@CrazyBubbleTrain
Probably ~20years old.
kernel2006 1 year ago
If you get a math degree from a good university, you can handle the exams.
pberrios0223 2 years ago
I'm can do the job! *grabs calculator*
Adminvalid 2 years ago 3
Maybe for you it's easy to learn. I'm saying. If it was easy to learn college wouldn't be this stressful
drumminmeatball 2 years ago
It's hard to get even an entry-level actuarial job...
MetaIhead89 2 years ago
It's not so easy to be an actuary! Problem solving skills are esential and it takes time to be trained for that! U may be correct to say that it aint difficult to become a member of the profession. But even that requires u to have a really good maths background! To graduate from university with an actuarial science degree aint easy, nevermind writing all those horrible exams to fully qualify! Esp the UK system which requires 16 exams!
xdzhong 2 years ago
The math used in actuarial field has a medium level of complexity, some times people think that the level of difficulty is correlated with the average income. That is totally wrong, every mathematician now that calculus is the base for more complex subjects as Real Analysis , Topology or Abstract Algebra, and a lot of mathematicians around the world are struggling to survive. Actuaries make money in US due to supply and demand only, not math skills.
elprisionero 2 years ago
I hope you're an actuary to say this. Learning this material is by no means "easy."
The way I see it, is that the math is easier after you have mastered it or at least have a general understanding. If a 10 year old boy came up to me asking me for help with addition because it is "hard" for him, I would think it's easy.
In that sense, I do agree with you.
drumminmeatball 2 years ago
Comment removed
keko666 2 years ago
Or north americans who want to make 70 K a year at 21 and not have to work more than 35 hours a week.
musicjock2 2 years ago
@keko666 why you think that ?
aguarras21 1 year ago
it is very easy to "break into" this profession.
pass exams, have at least an A average, have decent communication skills, you will a killer wage in no time.
musicjock2 2 years ago
In 2009 this career is almost impossible to break into. Don't listen to the people at your University who tell you that you'll have a job straight out of college! Most graduates are waiting almost a year to get an interview!
rictagirl 2 years ago
@rictagirl 7 interviews this term, 5 offers, 2 free flights to new york. There must be a reason you can't get a job. Exams, English, GPA.
musicjock2 2 years ago
I'm not talking about me, I'm not out of college yet. I suggest everyone join the many forums out there for actuaries and aspiring actuaries to get a feel for the work and the job market. Many people have caught wind of this career and as a result there is more competition.
rictagirl 2 years ago
@rictagirl thats because of the competition or why ?
aguarras21 1 year ago
I'm trying to get into the profession. no luck as of late.
dstric 2 years ago 2
hellsingkyer, the point is, you are dumb. everybodys life has a price. the average value of a human life is about $10,000,000 if im not mistaken
jstag711 2 years ago
My point is that you really should not criticize a profession that is so enormously difficult and complex, and above all valuable beyond measure. Moreover, your impression is totally biased and ignorant.
China used actuaries to help model population growth, now they have negative population growth. Even actuaries involved with pensions or life insurance are wealthy and smart enough to make their decisions based on a strict discipline, not something as crude and animalistic as hate or pain.
nithienbadal 2 years ago
The mathematics involved with Actuarial Science is challenging beyond imagination. It is far, far far far more complicated then advanced calculus, which is best suited to very predictable controlled environments such as engineering. Actuaries instead use models that take into account Stochastic Controll Theory, models that must encompass the complexity of imperfect, biased, and oftentimes random human decisions.
nithienbadal 2 years ago
An avenue of Actuarial Science is the life insurance industry, and the price tagging you talk of is arrived at through advanced mathematical modelling that you simply wont understand in even a simplistic overview. Without such appraisals, you would have no life insurance whatsoever. Your pension fund will be insolvent and retirement, health and other benefit packages wouldnt exist in the first place. You should remember that you as an invidual opt for such services which you apparently disdain.
nithienbadal 2 years ago
Firstly, your understanding of the profession matters very little in terms of any significant scope or effect, unless you are an aspiring actuary or have dealings with them, so asking a tendentuous short sighted question as such is quite arrogant.
Actuarial Science is one of the most respected professions in the world, and qualified actuaries are the rarest most demanded individuals in the world, where a commercial field of study is concerned.
nithienbadal 2 years ago
so I am to understand that these are the people who put a price tag on my life for insurance companies, I hope these people are satisfied with the hate and pain they fester when they do that work for the business world
Hellsingkyer 2 years ago