<p>Background: Early in December I was offered an admission from the College of Arts and Science from NYU and I accepted. I have always planned on dual majoring in Math/Econ and if I can fit it in, then Middle Eastern Studies because I have always wanted to work in Dubai/Qatar anywhere in the Middle East as an actuarial scientist. </p>
<p>My question is geared towards the more experienced of individuals on this board, however if you can offer any input, that would be golden. Anyways, I wanted to know what I can do to successfully become an Actuarial Scientist working on Wall Street. My original plan was to join a Mensa society and join several clubs ( okay maybe 2 lol) and work my way to becoming president, and gain significant leadership positions while still remaining humble and doing community service. I want to build an extremely solid resume, that no employer will turn down without a second or third look. I have many connections, if you will, on Wall Street, but in the metier of investment banking, which no longer interests me like Actuarial Science. Is there any way my cousins can help me break into my industry? </p>
<p>I am currently a second semester high school senior, and when the year ends, I will immediately start taking classes at any university or college, or community college that will take me, for actuarial science. ( Stats, Math 101, More math, even more math...lol) and I will be buying a manual to start studying for the first Actuarial science exam because the sooner I can pass all of the tests ( no easy task, I am simply above average intelligence, not a genius quant) and score that invaluable internship Junior year.</p>
<p>I might appear very high strung right now, and in person I am laid back, however it is simply a facade because failure is not an option. My NYU education is being fully funded by my uncle, so I must be successful. Please tell me in your experience, what I can do to be successful.</p>
<p>You said you wanted to work as an actuarial scientist, so you have to major in math/actuarial science. However, you also said that you wanted to work in “Wall Street” so the best major for investment banking is finance, although math/economics will work as well. You just have to show that you excel with numbers. You appear to have the drive to become successful and with hard work everyone is capable of achieving success. You just have to remember to relax at times so you don’t burn out.</p>
<p>An actuarial scientist is a licensed professional who applies advanced mathematics mostly to the insurance industry, but also to the finance industry as well. Actuarial scientists, or actuaries, are mostly involved in devising a huge variety of insurance policies and products for companies. </p>
<p>The qualifying exams are some of the toughest professional exams that exist. Also the actuarial field is not a business major- it’s an applied mathematics major.</p>
<p>“calculated guesses” is some of what they do but not most. But yes probability is a very important part of actuarial science. They help insurance companies devise premiums and pension plans, loss models, etc to make sure they have enough money to pay claims are whatnot, while still offering competitive prices to customers.</p>
<p>NP you sound like you’re on the right track- the actuarial exams require lots of self-study and discipline and you sound ready to do it. Focus on taking the first one or two exams, that will eventually land you a position with a company.</p>
<p>To answer your question cccdude “And what else can you do in business with a math/economics degree from a top school?”
From what others have told me since I was stuggling between majoring in business or econ, econ+math you can do basically anything in business if you go double major with economics and math, but not accounting since that’s a completely different path. So in some cases econ/math would be more beneficial if you do go to a top school, but you must make sure that is what you like, cause it’s a pain in the ass to study something you have no interest in.</p>
<p>Have you looked into the NSA Stokes Scholarship for college sophomores? They accept applications from math majors, and you work in cryptanalysis-type fields relevant to your experience level. It’s a full scholarship to the college of your choice, plus an annual stipend - you will have to intern over the summer breaks (paid of course) for the NSA, and you will be required to work for…1.5 times the length of your scholarship (i think?) after graduation. I would say after that kind of experience, any place would hire you.</p>
<p>NP, looks like we have a similar goal. I’m likely going to Temple(Fox) starting this fall as an actuarial science major. I’m curious why you are choosing to do an econ/math dual major, when there is an undergraduate actuarial science program at NYU (Stern.) </p>
<p>For clarity: I’m not saying one direction is better than the other, I’m just curious why you’ve decided to go that route…</p>
<p>Would it be possible to start studying for the first exam right after you graduate from high school? Would I need much more education before I take the test?</p>