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  #1  
Old 02-23-2017, 01:13 AM
actuarykev actuarykev is offline
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Default Career Advise - Pre ASA

Getting my ASA in 2-3 months, I realized it's the time to evaluate my career choices before getting on an FSA track since it will be quite hard to make a switch later. In my limited actuarial experience (less than 3 years) in the health industry, I learned about what actuaries do but noticed while actuaries in my company often can offer the best solution from an analytical standpoint, actuaries are not the one to make the decision. This made me start thinking whether being a health actuary is the right choice. I am motivated and wishes to reach the executive level at some point in my career. While experienced FSAs are compensated pretty well ($150,000-$300,000), they rarely get to the next level ($500,000+). As I don't dislike working in health, I might enjoy working in life a little more (pretty interested in investments). So here are of the options that I considering:

1. Pursuing a MBA in one of the top schools - while a MBA degree definitely opens door to more industries, not sure if a MBA degree would increase my income potential enough to make sense financially.

2. Getting an CFA and switch to the investment - not sure how I can actually do that or if that would help at all, afraid it would to a pay decrease.

3. Switching to Life which may help me getting into investments as an actuary later in my career - how hard would it be to get an ASA level job at a life/investment company with only experience in health and what I can do to help?

4. Stay in health and get my FSA ASAP and try climb up the corporate ladder as health seems to be a promising industry - as actuaries in my company (large health insurance company) don't seem as important as I originally expected (not sure if this is the norm), does it make sense to try getting to the top within actuarial? Or are there any great opportunities in the health industry,such as consulting, hospitals or provider groups?

Any input would be greatly appreciated!!!

Last edited by actuarykev; 02-23-2017 at 01:36 AM..
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  #2  
Old 02-23-2017, 06:47 AM
lookingon1 lookingon1 is offline
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I would do option 4, then the MBA. Since you are targeting very high level pay, the argument on tuition is moot to you. ASA+MBA is not > FSA+MBA. Options with life/CFA just don't make any sense. Plus you can get finance in your MBA if that's really what you're after. But...you will be an actuary with an MBA so may still be hard to break out. Ours is not the top job you're right, although we are at high mid-level positions. One option is go be consultant with Milliman and rack in the dough. That's what I would do. Finish the FSA early for that, they like that.
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Old 02-23-2017, 09:41 AM
volsfan volsfan is offline
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CFA requires work experience in investments

https://www.cfainstitute.org/communi...xperience.aspx
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Old 02-23-2017, 10:24 AM
lookingon1 lookingon1 is offline
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Why did you even get into health, if you want investment? If you really want that, I think your best bet is switch NOW. You are lucky the SOA has a great investment track and you can be working in very hot area that you want to be in. Then get your CFA and make all the money. Making SOA transition is not terrible and this is the time for you to do it, before you have worked 10 years and it's too late.
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Old 02-23-2017, 12:00 PM
Dr T Non-Fan Dr T Non-Fan is offline
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See if your company will allow you to take the Investment track exams instead of Health. Then, you'll have Health experience AND Investment FSA. You'll be flexible.
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Old 02-23-2017, 01:09 PM
lookingon1 lookingon1 is offline
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Dr-terrible advice.

Make a clear decision what you want and go for it. You can't ride 2 horses at once
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Old 02-23-2017, 01:12 PM
lookingon1 lookingon1 is offline
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Guys please keep in mind Kev wants to be super successful-not an average lame 150-250k actuary. He is looking to strike it big.
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Old 02-23-2017, 02:53 PM
Hartke Hartke is offline
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I am curious to hear AO's view on FSA + MBA. My thought is you could gain FSA + 10 years experience and work your way up the corp ladder. Then get MBA sponsored by the company and make the jump to an exec role. Sounds like a long shot for me, but I like to dream.
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Old 02-23-2017, 03:01 PM
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ShivamS ShivamS is offline
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Quote:
Originally Posted by Hartke View Post
I am curious to hear AO's view on FSA + MBA. My thought is you could gain FSA + 10 years experience and work your way up the corp ladder. Then get MBA sponsored by the company and make the jump to an exec role. Sounds like a long shot for me, but I like to dream.
What's the point of the FSA in this situation?
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Old 02-23-2017, 03:05 PM
lookingon1 lookingon1 is offline
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Thats why his situation is tricky. He's kinds of stuck as an actuary and making the measly salary...Shivam, you're right. Best scenario is jump off the wagon now, get the Highly loaded MBA and make $$$ (totally different career and skill set). Forget about the ASA. Heck don't even bother finishing the next few months lol. I'm serious.
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