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MFE and Actuarial test

tiger wang

Joined
3/26/10
Messages
3
Points
11
Does anyone can tell me if pass the actuarial test and own a MFE degree will help to find an entry level actuarial job? I'm currently admitted by UIUC MFE and thinking about to finish the P test in the winter in order to find a job after I graduate. Any suggestion?
 
Why would you spend the tuition to get into an actuarial firm?

Know how to get an actuary job? Pass actuarial exams. That's it. And your degrees actually do not matter at all whatsoever. All that matters is your exams.
 
$$$

Frankly speaking, if you do the right thing I do not see any difference between Actuary and Quant except quant is dealing with market then you will find it very exotic.

In term of money, they can be the same. Again, some said that quant can make more than actuary, but actuary also can make more depending on who is smarter in the marketplace.

Quant is the fashion so many want to get in. Again, passing the exam is all you need to be an actuary. If you have passion on any job, you will not feel boring. For one thing, actuary is a professional qualification and it carry a title will carry you a long way when the market is down.
 
Thank you all. Maybe I just want to know about the difference between these two job fields.
 
Follow your heart

tiger wang said:
Thank you all. Maybe I just want to know about the difference between these two job fields.
Click to expand...


There are several threads in this forum or wilmott.com already mentioned about the differences. As discussed. These two fields are merging. Actuarial science may be required less "tedious" maths comparing with quant finance (QF) or FE. It tends to be more policy making, insurance premium calculation and construction based on mortality rate and so on. However, QF/FE required more maths and don't forget that you need to be very strong in programming and algorithm - C/C++, C#,...and so on. You get to know this stuff if you already have a math and computing base degree. (I don't think only studying C++ alone is enough in terms of computing aspects)

In some aspects, I will consider these two are brothers. Actuarial science tends to focus on risk management but QF/FE is basically more actions dealing with the financial markets. Again, you may be interested to study QF/FE because you want to be a trader. Frankly speaking, not all QF/FE graduates can get into the trading desk. Being a trader you need to have the killer instinct to kick ***.

It is all up to you. What do you want? I know people asking question like this because they want assurance. There is no assurance in getting a good job and good pay. You have to make it happen. My 2 bits.
 
Your future, you decide

tiger wang said:
Thank you. It helps a lot.
Click to expand...

You're most welcome. Remember that you can make money anywhere if you are smart enough. Like it or not, many quants do not make so much as the rumours mentioned but only the really good ones.

Frankly speaking, to be an actuary is easy if you can pass the test, but to be a really good one you need time to polish up.
 
MFE is what I am considering right now too...
my college GPA was too low(2.54) so I can't even get an interview...
I have passed 4 actuarial exams so far....(only failed once...) but i can't even get an interview...
I was thinking about actuarial science but they only offer you up to preparation for C/4...which I am already registered for August sitting...... real waste of money
so you guys think getting MFE is not worth it at all??? even for my case...??

Well, there is one more problem....Can I even get in to MFE program with my GPA??
what if i get 800 on GRE math....

everything is so confusing...!!
 
busanblues said:
MFE is what I am considering right now too...
my college GPA was too low(2.54) so I can't even get an interview...
I have passed 4 actuarial exams so far....(only failed once...) but i can't even get an interview...
I was thinking about actuarial science but they only offer you up to preparation for C/4...which I am already registered for August sitting...... real waste of money
so you guys think getting MFE is not worth it at all??? even for my case...??

Well, there is one more problem....Can I even get in to MFE program with my GPA??
what if i get 800 on GRE math....

everything is so confusing...!!
Click to expand...

you have ZERO chance of getting into any decent MFE programs with 2.54 GPA. Most programs impose minimum GPA requirement at 3.00.
 
With a GPA that low you will find it difficult to get into a top program in any field I'm thinking. My advice would be to get another degree (undergrad/graduate) at a decent local university and then do really well, after which you should be able to find a job with your actuarial exams passed.
 
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