Is petroleum engineering/ actuarial science a viable option for a highly competitive student?

<p>I’m a rising senior looking for possible majors/careers. I love math and physics foremost, followed by other sciences like biology and chemistry. I love writing and problem solving in general. </p>

<p>Two career paths grabbed my interest in particular; petroleum engineering and actuarial science / financial engineering. </p>

<p>The main conflict I have is that I am generally aiming for Ivy League Schools and other top tier academic universities. Unfortunately, (with the possible exception of Stanford) many of these schools have no petroleum engineering undergrad courses to speak of. Would it be viable to study Engineering Sciences, Energy Engineering, Chemistry & Physics etc. undergrad and then go to a less prestigious grad school to get a Masters or PhD in petroleum engineering? </p>

<p>Would that path place find me jobs in the field that pay higher or lower? With the Ivy background, would I be able to start as a petroleum engineering consultant?</p>

<p>Or should I just apply to schools like Texas A&M with a 2300 SAT score?</p>

<p>PS- This website’s clock is programmed for Icelandic local time, what’s the deal?</p>

<p>If you want to go for a Master’s and PhD in Petroleum engineering, chemical or mechanical engineering BS would be a better choice if PetE major is not available.</p>

<p>An ivy background won’t necessarily give you a huge “leg up” in engineering. The Ivies in general aren’t really known for engineering (exception of Cornell). Some of the “big” engineering schools are MIT, Purdue, UIUC, UMich, CMU, G-Tech, etc. </p>

<p>Also, what about petroleum engineering appeals to you? They make a ton of money right out of undergrad, and you will often have your master’s paid for by one of those oil conglomerates or something. </p>

<p>However, you run the risk of a “narrow” education if that industry hits a downturn (if you enter petroleum or become an actuary).</p>

<p>There are some fields where an Ivy name helps, but energy (unless you enter the finance side) or insurance (again, unless you’re doing something with investments) aren’t really those. In any case, you have to get in and afford an Ivy first. Check back after you get your acceptances.</p>

<p>Thanks for the correspondence!</p>

<p>Ctesiphon, I absolutely understand the Ivies’ lackluster renown in engineering, which is why I am applying to specific programs that some of them have, as well as more typical engineering schools like MIT, Harvey Mudd, CMU, RPI, Purdue, UMich and GTech. </p>

<p>I guess petro appeals to me because it combines the logistics aspects of systems engineering with the mechanical and chemical engineering prowess involved throughout many processes of oil while also providing an active lifestyle open for travel and onsite presence. </p>

<p>And PurpleTitan petroleum engineering and actuarial science are two fields that will /very/ likely to /not/ hit a downturn. </p>

<p>Paying tuition and furthermore getting a high-paying job is of least concern, as money will not be an issue. </p>

<p>. . . .says the kid who never lived through the '80’s collapse in the energy industry, when folks in energy were laid off left and right.</p>

<p>Also, while I’m not completely sure whether the world will turn out as predicted, @GlipGlop, actuarial science has been flagged as one of the fields most at risk from increased automation. Then again, high-level math and risk skills will always be useful. </p>

<p>To be honest, when I see someone with a list like petroleum engineering and actuarial science, plus Ivy, I see someone pursuing starting salary with no real interest in the fields they list. Ivies tend to be liberal arts and/or pre-professional oriented, not career oriented. If you were truly interested in PetEng, you’d be looking at schools like Texas, Penn State or Oklahoma, not Ivy. Same sort of thing with being an actuary.</p>

<p>Sit down and think what it is your pursuing and if that’s going to lead to you being happy in life. What you do 8-12 hours a day is pretty important on the satisfaction meter, not just the dollars it brings. You’re going to be spending far more time earning those dollars rather than spending them, might as well do something you truly have a passion for, even if it does bring slightly less dollars in the beginning.</p>

<p>I’m not sure about petroleum engineers, but actuaries have the kind of math skills that can be useful in a variety of fields.</p>

<p>OP, you don’t have to major in actuarial science to be an actuary. You can major in math, statistics, or finance. In fact, if you are interested in Ivies, Columbia’s statistics department actually has an actuarial track. Given that they also have graduate programs in mathematical finance and actuarial sciences, you can take graduate-level coursework in those fields if you advance far enough (and many of the junior and senior level seminars are cross-listed with the graduate programs). </p>

<p>Just make sure that you choose a math or stats (or finance) department that helps you prepare for the actuarial exams; it’s good practice to have taken at least one in college before you get a job. See the [Society</a> of Actuaries’](<a href=“https://www.soa.org/education/resources/actuarial-colleges/actuarial-college-listings-details.aspx]Society”>Universities & Colleges with Actuarial Programs (UCAP) | SOA) listing of colleges with programs that prepare you for the exams; not all of them are actuarial science majors. Most, in fact, are math or stats departments. If you are really serious about actuarial science you probably want to attend a Center for Actuarial Excellence, but at the very least pick an Undergrad-Advanced college (which will prepare you for the first 2 exams).</p>

<p>I think an Ivy is not a bad choice for someone interested in financial services - those universities have a lot of power and alumni in those fields - but none of them are CAEs, and only two (Columbia and Wharton) have the advanced prep for undergrads in the actuarial sciences. In fact, the best choices in this arena seem to be public universities - Penn State, Temple, UConn, UIUC, Michigan, Binghamton, Auburn, Alabama, Texas Tech, etc. Seems to also be the case with petroleum engineering. If you are seriously interested in petroleum engineering, you should probably go to a university with that program and that has ties in the industry. There’s a poster on here who hires engineers and he has consistently said that Ivy/top tier graduates don’t get paid any more money than the public school grads they hire.</p>

<p>If you are aiming for Ivies because you think that they will earn you better pay or positions, then I would refocus to really target schools that provide what you need wrt education - because likely they also have the best connections with firms that will get you hired in the field of your interest. If you’re aiming for Ivies because you think that you won’t find an engaging intellectual experience at a place like Texas A&M because you have high test scores, I don’t think you should worry about that - students of all kinds go to large public universities, and you’re likely to find challenge especially in an engineering major.</p>