I recently got accepted to both UCSB and Cal Poly Slo, and I have plans to become an actuary. I know UCSB’s actuarial science program is very prestigious, but Slo has a actuarial preparation minor. I love San Luis Obispo- the college town and the atmosphere. My girlfriend plans to go there as well. Isla Vista is alright. My question is: Is ucsb’s actuarial science program so good that it is worth being away from my gf and attending a lesser location? Or would Slo’s minor still allow me to pursue a successful career as an actuary?
Hello jyama3,
I graduated from Cal Poly back in 2014 and currently work in the actuarial profession. Although Cal Poly does have an actuarial preparation minor, it is not necessary (I didn’t). The 3 most important factors key to breaking into the field IMO are actuarial exams, high GPA, and obtaining at least 1 actuarial internship while in college. An actuarial science major is definitely not required (employers don’t care about major as long as it’s something quantitative (Actuarial Science, Math, Statistics, Econ (my major). They mainly care about exams. I’m positive the majority of employers would rather hire a statistics major with actuarial exams passed over an actuarial science major with no exams passed (ceteris paribus).
Now I know not everyone will agree with me on this, but I think a degree in actuarial science pigeon-holes you career-wise. At least with a degree in math or statistics, it is more flexible and have more potential opportunities if actuarial doesn’t pan out. The courses in an actuarial science program cover a basic background of the material in the preliminary exams, but are most likely not sufficient by themselves to pass these exams. These exams require a lot of self-study. I studied for the actuarial exams through study manuals specifically geared towards these exams, and I’m not alone. The actuarial students in UCSB also utilize these study manuals and self-study. Basically the point I’m trying to make is that an actuarial science major is not required to break into the field. I have friends who graduated from UCSB as actuarial science majors who have told me that there are people who graduate with actuarial science degrees but 0 exams (major red flag for employers).
Both IV and SLO are wonderful, so you really can’t go wrong. If I may ask, what would be your major if you were to go to Cal Poly? I’d say Cal Poly can definitely prepare you well for a career as an actuary if you are ambitious. Personally, as an Econ Major (Finance concentration) along with minors in math and statistics, I was able to obtain a very well-rounded education (all in only 4 years and 1 quarter, which is not bad!). You really can’t go wrong with either choice, but I would go to Cal Poly if I were in your shoes. Like you mentioned, Cal Poly really gives you that true college town experience and I really do miss it. Your girlfriend potentially attending Cal Poly is also a factor too, and I think going to/from SB on a regular basis would just be too time-consuming.
Please let me know if you have any other questions you want to ask me. I would also love to know which school you end up choosing. FYI, I didn’t even start to pursue the actuarial field until my junior year in college, so you already have a head-start. If you do end up attending Cal Poly, I’d be more than happy to answer any questions about anything (actuarial exams, Cal Poly courses/teachers, how to improve your chances at obtaining a job, etc). I work in Washington D.C, but I occasionally visit SLO (damn I really do miss that place). I don’t really spend time on College Confidential, so I’ll message you my e-mail address so you can e-mail me if you have any questions. Sorry this post is long, but hopefully it is informative and helpful!