Help a Math Teacher change careers!?

[rhizome]

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As for passing the Actuary exams, I realize the level of difficulty but am confident in my mathematical ability (I was doing Calc 1+2 when most kids were learning to plot lines [img]/images/graemlins/grin.gif[/img]).

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You cannot realize the difficulty of the actuarial exams until you start taking them. Most actuarial students have advanced math skills and yet most fail any given exam.

I have learned that I was pretty lucky -- I took the 1st exam without studying and passed on my 1st attempt after having learned all of the material from other course work in college. I then got a job as an actuarial analyst. Since then, however, it has taken me 11 attempts to pass 4 additional exams -- even though I, too, am confident in my mathematical ability (I never had trouble passing exams in graduate school, got a near perfect SAT math score, etc).

You are also at a disadvantage by starting the exam process at a slightly later stage in life. Once you add other things to your life (working, spouse, children, poker, etc.), it is not going to seem so noble to be spending the weekend reading some study note on the effects the sarbanes-oxley act has had on the documentation of reserving methods.

To me, you sound very naive about the actuarial profession and exam process.

You say that you are concerned about the 2 years it would take to become an MBA -- yet you don't seem to have any concern about the 10 years (on average) it is going to take you to become an actuary (4 years minimium).

I'm not trying to scare you away, but you make it sound like you saw a website that posted actuarial salaries and decided that it would be a good idea to become one. If it were that easy, then there would be a lot more actuaries than there currently are.

Again, good luck -- but based upon your posts in this thread, I really think the MBA track would be better for you.

[dazraf69]

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You cannot realize the difficulty of the actuarial exams until you start taking them. Most actuarial students have advanced math skills and yet most fail any given exam.

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Thank you for your in-depth discussion on this topic. I respect your opinion and agree with the points you made. I think on some points though you may have misunderstood me.

I have researched being an actuary and my BA was originally an actuary track but I changed it to a management sciences concentration. I am confident in my ability to pass Exam 1 and 2 as I have reviewed a number of sample tests. As for exams beyond that, I realize the level of difficulty but feel that the progression to that point will allow me time to learn and educate. You bring up a good point in regards to weekends and what not but I am not much of a family man and work 70+ hr work weeks on a regular basis. My concern with an MBA was that after 2 yrs, I would be almost 30 and did not want to be perceived as "over the hill" in terms of business opportunity. Also, I currently hold a Master Degree, and didn’t want to pursue an MBA if the gain did not outweigh the time and cost. I am also familiar with many of the aspects taught in business school through my experience in investing and management. In addition, becoming an actuary IMO becomes a gateway if you would, into a number of other careers such as finance due to the nature of the work in terms of analytical observations. This same benefit applies to an MBA of course.

All in all, I work two jobs one as a teacher and one as a restaurant manager. I would rather focus that effort into one job where I feel the moving up the ladder is an option. I came here for some insight and appreciate all of your thoughts. I just want to assure you that I have done my research but see the experience of others as being priceless. I also by no means am being naive about the difficulty in either pursuing an MBA or actuaries. Any help is appreciated and I will continue to answer any questions that people see fit to be asked.

[dazraf69]

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daz,

i've been a headhunter for 20 years now - my first question is where do you live and does it matter where you live?

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Funkytown,

I live in Niagara Falls, NY and am actually trying to relocate. I have no family and my friends have become either married or soon to be so I have been "ousted" by their wives…LOL I have applied to various jobs very where from California, North Carolina, China, UAE and every where in between. My hope is to find a job that will afford me an opportunity to travel, or a job that will introduce me to a new culture/atmosphere. If you have any further questions please PM me. I have considered a headhunter and am glad you mentioned it.

[rhizome]

If you can pass exams 1 and 2, then you should have no problem finding an actuarial position. And, if you decide that it's not for you after a couple of years, then you can always move on to something else. I know plenty of others that have.