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That's correct (on average), although some can do it in 2-3 years. The associate level exams (P, FM, MFE, MLC, C) require a similar level of mathematics that a student finishing the first semester or two of Quant courses (at least based on Baruch's curriculum) will have (I have taken the first two exams, and studied for the 3rd). However, the associate-level actuary will lack the rigorous/theoretical understanding of the mathematics that a Quant will pick up in school. Even an actuarial fellow (investments track) will not necessarily have the same exposure as a Quant on account of the later exams being very application/business-based and not as quantitative as people believe. Moreover, there is no coding requirement for actuaries -- unless you get it through job experience you will be at a significant disadvantage. I can tell you from first-hand experience that most actuarial jobs merely utilize VBA, and some database (SQL) knowledge. Very little C++, which is the bread-and-butter of the Quant.
That's correct (on average), although some can do it in 2-3 years.
The associate level exams (P, FM, MFE, MLC, C) require a similar level of mathematics that a student finishing the first semester or two of Quant courses (at least based on Baruch's curriculum) will have (I have taken the first two exams, and studied for the 3rd).
However, the associate-level actuary will lack the rigorous/theoretical understanding of the mathematics that a Quant will pick up in school. Even an actuarial fellow (investments track) will not necessarily have the same exposure as a Quant on account of the later exams being very application/business-based and not as quantitative as people believe.
Moreover, there is no coding requirement for actuaries -- unless you get it through job experience you will be at a significant disadvantage. I can tell you from first-hand experience that most actuarial jobs merely utilize VBA, and some database (SQL) knowledge. Very little C++, which is the bread-and-butter of the Quant.
