<p>I'm a junior math major (also pre-med) and am trying to iron out my post-graduation plans. My intention has always been to go to graduate school in applied math or stats or to attend medical school, but lately I've been considering a career as an actuary.</p>
<p>The prospect of beginning a career straight out of undergrad in a secure, well-paying profession, rather than investing 4-6 more years into getting a PhD or MD, carries some appeal. I want to be able to support a family and work reasonable hours, and it seems like a career as an actuary is a good way to do that, once one makes it through the exams.</p>
<p>On the flip side, I've never had much interest in business, and working in insurance does not sound terribly exciting to me. However, being an actuary does involve using a lot of mathematical and problem-solving skills, and those are skills I very much enjoy exercising.</p>
<p>Can someone with a love for math and critical thinking, but without much interest in business or insurance, enjoy a career as an actuary? Will the use of mathematical and analytical skills be enough to keep me satisfied, or will I find the profession boring if I am not into the business side of things? Will I better served investing more time in my education to be able to work in a field that is of greater interest to me?</p>
<p>If anyone has insight into these questions or has faced a similar dilemma and has advice to offer, I'd be appreciative. Thanks.</p>
<p>I’ll give you an answer that you’ll hate to hear: “it depends”.</p>
<p>Some people are perfectly content to have jobs that they don’t care about. They find joy in the stable income, the friends from the office, the perks that the stable income provides (a nice apartment, money to enjoy social life, money to travel).</p>
<p>Other people are wired that they need to love their job.</p>
<p>I have a close friend that’s 30 years old. She works as an actuary for a health insurance company. She could care less about the business work, her dream is to be a novelist. But she’s quite happy in life even though she has to go to an office every day. She likes the people that she works with. </p>
<p>One thing that I’ve learned after nearly 5 years post-college is that everyone is wired differently. What works for some doesn’t work for others. There are very few simple solutions in life.</p>
<p>Most “uncertainties” in life can only be resolved by trying things out.</p>
<p>“God created actuaries so accountants would have someone to make fun of.”
(Sorry, that’s an industry joke, couldn’t resist.)
I think its hard for college students to evaluate business careers because you may only have a dim understanding of what people actually do in offices all day. There are some careers that might sound more glamorous or productive for society, such as being an archeologist or being doing pharmaceutical research, but when fully examined you are spending long hours patiently chiseling things away in a not-climate controlled situation, or nicking the tails of 200 rats a day to take blood samples. Since I work in insurance, I have handled the claim for the tennis elbow for the latter.</p>
<p>As much as people might hate insurance companies, it doesn’t take a lot to understand why we need them. I mean, if my house burnt down, I can’t quite see all my neighbors rallying around to build me a new one and stitch a replacement quilt for my bed like they do in Amish country. And it is very important that companies have skilled actuaries and underwriters to help get the pricing and other items right. Is it ok if we insure more than one store in the same shopping mall? How many homes insured in the same hurricane zone is too many? How much should we discount a teen who gets good grades? Are we willing to insure a share of a ocean frigate?) I myself am in claims which is definetely interesting, no lack of war stories, but high on stress. Nevertheless it has been a very flexible career allowing me sometimes to work part time, sometimes from home, and always with people with a sense of humor. On the down side, no corporate CEO ever came from Claims.</p>
<p>I would agree with giving it a shot. If its not for you, at least you know you’ve tried it , and perhaps you are able to go on to grad school with some serious cash in the bank!</p>
<p>112358, if thou remembers me from the days of old, I can attest that I too, coincidentally, have decided to embark on the actuarial train.</p>
<p>It is indeed a fabulous idea, and I had the same concerns when I was about to enter the program. I can affirmatively attest that although I really don’t care for business, I very much enjoy actuarial science, as it deals much more closely with mathematical reasoning than commerce. Honestly, although the exams are challenging, I’m very confident that you may swiftly pass them.</p>
<p>Not to mention the fact that after little studying, you can qualify for a solid career that is excellent exercise for the mind, contains 0% unemployment, and rewards a very nice paycheck.</p>