<p>Would this combination be a good way to prepare to become an actuary. i know the tests are very difficult, but is this a good way to have a solid economics and math background to pass the tests?</p>
<p>How does a EE background add to preparing to be an actuary? Seems like you’re adding on a bunch of fluff for something that doesn’t enhance your chances, plus, EE’s don’t take much in the way of statistics, which is the heart of actuarial science.</p>
<p>What MrMom said. Preparing for the exams to become an actuary is all about learning statistics.</p>
<p>My daughter is looking into being an actuary and we have done extensive research regarding which major would most prepare her for the acturial testing process. If she is accepted into her top choice, she is planning on pursuing a BA in statistics with actuarial science option. This option requires 30 hours of study in statistics and actuarial studies. According to the schools website this route would prepare her for 1-3 Society of Actuary exams upon graduation. Some schools offer it under different majors, she was accepted into Smeal(PSU) which offers actuarial science under Risk Management major. One option could be to major in Statistics and minor in economics or if your heart is set on EE, minor in Statistics. I would imagine the EE course load would make this option very difficult to achieve in 4 years though. It all depends on the school you attend, as many do not have an actuarial science option. There are no requirements to take the actuarial tests so you can major in anything but would not be prepared if you do not have a strong statistics background.</p>
<p><a href=“http://www.beanactuary.com”>http://www.beanactuary.com</a> has information on preparing for actuarial exams and careers.</p>
<p>@MrMom62 @CheddarcheeseMN @pacpac im not 100 percent sure if im even gonna be able to pass the exams. thats why i want to have a technical major (like engineering or maybe even accounting) and have a minor that can help me prepare for the exams. so would statistics be a better minor to have than economics? because beanactuary.com says i should take 3 semesters of calc, linear algebra, and comp sci. EE has all of those. also, would Industrial Engineering with a minor in economics be a better idea? because IE has business and some statistics involved in it.</p>
<p>@toesockshoe Yes, the exams are supposedly very difficult and it takes years to get through all of them. As @ucbalumnus posted, Beanactuary.com is an awesome resource for information! We started with that website then looked at schools with actuarial science programs to see what the curriculum would entail. It sounds to me as if EE is your true interest. Once you narrow down school choice, you could research possible minors. In my opinion, a minor in statistics would benefit you much more than economics for actuary test prep.
If you decide to go the accounting route, CPA exam requirements vary according to state. For example, in PA you can sit for exam with a baccalaureate degree(typically 120 credits depending on major) but need 150 credits to be granted the certificate.
If she is accepted into her top choice, our D is going to major in statistics with the actuarial option. She is going to follow the accounting curriculum for general education requirements, just in case she decides she doesn’t care for her choice in majors. Several of the class requirements are the same and could be used under both majors.
This took a lot of research and she spoke with a few actuaries to come up with this game plan.
Again, narrow down school choice and go from there.
Are you a senior?</p>
<p>@pacpac yeah, im a senior. but my passion really isnt EE. im not really sure what my passion is and thats my problem i guess. industrial engineering seemed fine, just like EE, so i was asking if IE is a better option than EE because it is more business oriented right?</p>
<p>@toesockshoe Sorry, I’m not familiar with the engineering programs. What schools are you looking at? Do any have actuarial science programs?</p>
<p>@pacpac i already turned in my applications. from the schools i applied to, UIUC, Case Western, Cal poly have programs that prepare you for the first exam. i applied to all my schools as an engineering major, but will probably pick up a minor in statistics. </p>
<p>@toesockshoe Funny, CWRU is my daughters first choice. If you go on their website you can look up what classes are required for the actuarial science option. Compare to the engineering majors and see what your options are. With their single-door admission policy, it’s easy to change majors. I would suggest having some idea going in though as you don’t want to take classes that won’t count towards degree requirements. </p>
<p>To be honest, it sounds like you’re chasing a starting salary, not a passion or even an interest, and in the end, that’s fatal to your career prospects. You might graduate and get the job, but you’ll be pulling in money doing something you hate and that will show up in your job performance, which will in turn show up in your performance evaluation.</p>
<p>There is no harm going in undecided. If you get into Case, try a few classes in any area you might be interested in, even engineering - something will click. Then follow that - starting salary often means little, with the right combination of luck and passion, lower starting pay jobs often slingshot by engineering by mid-career.</p>
<p>@mrmom62 ?? If you look at toesockshoe’s other threads, they are strong in math and looking for a major in which those skills can be utilized. Just curious, What gave you the idea they were “chasing a starting salary?” It sounds more to me as if they are not sure what to pursue and reaching out for some advice and suggestions. Given their strength in math, actuarial science and engineering both seem like good possibilities. </p>
<p>Because if you hang around here long enough - certain high starting salary majors show up routinely from students who are apparently clueless as to what those majors involve as a career. Happens with med school and law school as well, though law school shows up less since the downturn in the legal market. (Those with a real interest in the area should still pursue law.)</p>
<p>@pacpac @MrMom62 yeah, the only subject i have a tolerance for is math. i dont want to major in math because i hate proofs, so id more probably go into an applied maths kinda field like engineering or statistics. i do fine in science, but i dont really like it. i only took AP chem and bio so far, and hated AP chem. im taking physics next quarter (im doing dual enrollment at community college), and ill see how i like it. i find there to be a correlation between people who like math and people who like physics.</p>
<p>also, pacapc: thanks for the info on case western. thats actually my dream school, but i dont think ill get a large enough scholarship to attend the school.</p>
<p>@pacpac plus, my parents dont view CWRU to be highly regarded, so they wouldn’t be too happy paying for it.</p>
<p>Yes, you may want to compare courses, curricula, and careers for statistics versus industrial engineering versus electrical engineering to see which may be of more interest to you.</p>
<p>Good luck! Hopefully a merit scholarship will help! And maybe if you show them CWRU stats they will change their opinion. Given your home town, are you sure you would want such a severe climate change?</p>
<p>@pacpac YES, lol. ive been asked that question so many times (especially by my parents), and i ABSOLUTELY hate the hot/sunny-california weather. haha. idk why, i love like the 50-60 degree weather. plus i dont really like california (more specifically silicon valley) in general. everyone is soo competitive and id much rather be in a more relaxing/peaceful environment like ohio.</p>
<p>@toesockshoe That’s what she loves about Case, everyone is so nice and laid back. She went on a recruiting trip for swim and was able to go to classes,eat in cafeteria, experience the actual school. Case was not her first choice before that trip but was when she left :)</p>