Should I Pursue an Actuary Career after College before MFE?

[JaredQuant]

Hi everyone,

I'm beginning my 3rd year as a double-major Finance and Accounting student at a top 50 non-target business school in the US. I also added a minor in math, because a double-major with Math would add another year to my study. The reason for the Accounting major is that it's safe and I can't afford to not have a job after college, but Finance / Economics is what I truly love. We're just not a target for both of those programs.

My minor in math will include the following courses:

• Calc I
• Calc II
• Calc III
• Linear Algebra
• Probability
• Statistics
• Differential Equations

I am also planning on learning Python through datacamp and maybe C++ as well. My GPA will be roughly 3.9+ when I graduate.

I was thinking I could pursue an actuary career out of college to get me off to a good start salary wise while still having mathematics focused experienced. I was also going to aim for Python / C++ based roles, if possible. My other option is to pursue Big 4 Accounting.

My question is: If I pursue an Actuary career after undergrad to save up money for an MFE program, how will that look on my applications? Give me the cold hard truth, I would rather know for sure than get my hopes up. Thanks in advance!

 

[MikeLawrence]

I think it's better to go to a Big4 accounting role and try to internally transfer to a financial modeling group or something similar. Apply for those roles off the bat as well.

Actuarial science is pretty chill, but they do require you to study/sit for exams outside of work and it's better to have that time to prep for the MFE entrance. Plus, Actuaries are kinda frowned upon for quant stuff. It signals that you don't know what you're supposed to be doing.*

Pay for the python/cpp courses here, don't do data camp.

*Edit: ... that you don't know what you're supposed to be doing to prepare for quant. People who say they want to do QF stuff, but prepare for actuarial sciences, clearly don't know that there are much more important things they should have been doing.

 

[Andy Nguyen]

The sooner you learn about MFE landscape the better you can prepare for it. C++/Python are definitely a must have skill today, regardless whether you end up in finance.
Getting some years of experience first is never a bad idea. You would have a better idea or what you like/hate. MFE programs will be around in the next 10 years (at least the good ones will) but jumping head first before properly prepare for it.

 

[JaredQuant]

I think it's better to go to a Big4 accounting role and try to internally transfer to a financial modeling group or something similar. Apply for those roles off the bat as well.

Actuarial science is pretty chill, but they do require you to study/sit for exams outside of work and it's better to have that time to prep for the MFE entrance. Plus, Actuaries are kinda frowned upon for quant stuff. It signals that you don't know what you're supposed to be doing.*

Pay for the python/cpp courses here, don't do data camp.

*Edit: ... that you don't know what you're supposed to be doing to prepare for quant. People who say they want to do QF stuff, but prepare for actuarial sciences, clearly don't know that there are much more important things they should have been doing.

Hey Mike, what would you say is more important? Networking? Honing in on quant & tech skills? Extracurriculars? Open to suggestions, and I'm about 4 weeks into knowing I want to pursue quant.. So forgive my ignorance. Thanks in advance.

 

[MikeLawrence]

Hey Mike, what would you say is more important? Networking? Honing in on quant & tech skills? Extracurriculars? Open to suggestions, and I'm about 4 weeks into knowing I want to pursue quant.. So forgive my ignorance. Thanks in advance.

Spend time on the forum and browse linkedIn profiles. Look at people who did what you want to do and copy them. You'll get a better feel for things with time.

All of these things are important, except for maybe extracurriculars- those just exist or don't, you shouldn't sacrifice anything else on the list for them. Learn to code well, and prep for interviews. If you get some, you must be ready.