Currently my parents are on my back to become a Nanoengineer. I live in upstate New York and we have a hardcore and competitive nano school but I don’t think the sciences are that great for me! Seriously I have a solid B in AP Chem. (Hopefully it stays like that this quarter!)
ANYWAYS I should get to the point.
Is there a huge demand for actuarial sciences? People say that you only need a degree in actuarial sciences (mathematics, heck maybe even physics) to become an actuary.
Also, I heard that the actuarial exams are hardcore! It takes many years to pass the 10 exams!!!
What are your inputs and thoughts if one of you guys are trying to become actuaries?
Is there a huge demand for actuarial sciences?
There is a big demand for actuarial sciences and opposed to many fields, it doesn’t have as many educational requirements but like you said, it makes up for its lack of educational requirements with a lot of hardcore tests. And although the educational requirements are minimal, it still requires a high-level of math and high-level of finance/economics so you essentially would need the background of a math degree and business degree.
I heard the actuarial exams are hardcore.
They are very difficult, the pass rates for this last few semesters were 40%-60% and many of these exams are really expensive, ranging from $190 to $1025 for each exam ([Prices of Each Exam](Exam and Module Fees | SOA)). So you gotta think, most people who take these exams have studied so 40%-60% of people who studied end up failing.
I assume that competitive nano school you mention is the one in Albany. If so, note that while it does have undergrad, it is primarily for grad students as the field generally requires an advanced degree.
Other than the first exam or two usually taken while in college, most people taking those exams are employed by insurance or consulting companies as actuarial “students” or trainees, and their company pays the exam fees in most cases. As for that pass rate, keep in mind that these are some of the smartest people in the world, and have studied literally hundreds of hours for the test, yet most still fail. Hardcore indeed.