To become an actuary I understand that you must take a series of tests, but do you have to continue to go to school or is it more of a refresher on the material?
I want to become an actuary. #finance #actuarial-science #actuarial
2 answers
Melissa Hines
Melissa’s Answer
Greetings...Honestly, the more education you obtain, the higher your pay and status throughout life. Not always true but education is a keystone to succeeding in life. With an undergraduate degree, an Actuary can make between $150K and $250K, majoring in one of the following: actuarial science, math, economics, statistics, business, or finance. See the information I obtained for you..
What kind of degree do you need to be an actuary?
Aspiring actuaries need to have a strong understanding of mathematics and business, and they should complete an undergraduate degree in a major such as mathematics, statistics, finance, economics or business. Some schools offer specialized actuarial science programs, although these are uncommon.
What does an actuary major in?
Actuarial science, math, statistics, economics, business and finance degrees are all good training for an actuarial career. However, actuaries come from a variety of educational backgrounds. Actuaries may have majors in areas such as operations research, physics, engineering, and even fine arts.
Below is a link with information for you to read upon
https://study.com/articles/Actuary_Employment_Info_and_Requirements_for_Becoming_an_Actuary.html
EducationBachelor's degree in mathematics, finance, or economicsCertification4-6 year associate certification, and 2-3 year fellowship certificationJob SkillsAnalytical, business, computer, and customer service abilitiesMedian Salary (2015)*$97,070Job Outlook (2014-2024)*18% increase
Source: *U.S. Bureau of Labor Statistics
Jonathan’s Answer
Only a few of the tests cover material that you typically learn in school. Most of them cover material specific to the profession so you are not likely to run across it during your normal studies unless you get an Actuarial Science degree.
The exams are self study so you do not keep going to school. There are seminars and various other study tools to help you learn the material for the exams.