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Old 05-13-2013, 07:56 PM
Levitizer Levitizer is offline
Join Date: May 2013
College: Purdue University
Posts: 3
Default Actuarial Program

This is a place to put recommendations to fellow boilermakers and prospective students who are interested in the program.

As far as actuarial programs go, Purdue is starting to have a premier program in the Midwest. The bigger and more successful companies require a 3.5 GPA and an exam passed to get interviews. Honestly....If you have taken AP Statistics and got a 5 on the exam, get the ACTEX manual and put in 100-150 hours over the summer preparing for Exam P and then take it. (Also, test out of your foreign language requirement!) Study for Exam P, pass it, and try to get an internship that pays a lot more per hour the next summer

Interview Process: There are several stages to interviews. Either an on campus interview or phone interview starts the process. If you pass this stage, there is an hour long phone interview. After that, for companies with more applicants, they will bring you on site for a day of interviews. Competitive hourly wage for an internship is around $15 to over $20 an hour depending on where the company is located, exams passed, and how big the company is. It is recommended to get experience on both sides of the actuarial field, but if you have to choose one or the other remember that SOA is more of the same and CAS allows for more creativity.

Exam Process: When going through the exams remember that only smart people are taking them including you and only 40% pass. I know that for Exam FM, Jeff Beckley prepares you well and a higher percentage pass than average for his classes. Try to get through FM and P early on so that you can make sure this field is a fit for you and so you have time to explore other majors. I recommend taking business classes for all electives, as if you want to be in a higher position you need to develop communication skills. Also, it is important to get involved on campus and have a leadership position somewhere.

Extra Info: Remember to look at things in the long term. If you know this is your career path, you really do not need to worry about money you spend taking and passing exams; spend as much as you need to pass the first two and let the companies that hire you worry about the rest. You will be doing about the same work for the first three years of your career no matter where you end up or how many exams you have passed.

Last edited by Levitizer; 05-13-2013 at 08:43 PM..
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