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  #1  
Old 07-29-2003, 03:34 PM
beandip beandip is offline
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Default Operations Research

I heard that many Actuarial Firms are interested in students who recieve their Master's Degree's in Operations Research. Is this true?

Are they responsible for taking any actuary exams ?
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  #2  
Old 07-29-2003, 04:17 PM
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Wigmeister General Wigmeister General is offline
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Giving up on the exams already?
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Old 07-29-2003, 05:43 PM
beandip beandip is offline
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Quote:
Originally Posted by Ludwig Von Beethoven III
Giving up on the exams already?
hahaha. well that is the crux of the biscuit isn't it? whether i want to be an actuary or not. In reality, i just wanna do mathematics or statistics maybe at a research level. But alas, do i spend 6 years toward that pursuit (and a justly one at that) or make some serious g's as an actuary. The latter would enivitably require myself to grease some palms and sell my soul to the 'money god'. While Ph.D. status could result in a brain meltdown, poverty and god knows what else. Im going to grad school for sure, im just trying to pick an area of graduate work which can engulf as many options as possible.

PLUS, now that actuarial work has become "popular" every chicken in the sea wants to wet their beak. So now you got these people pumping out 2-3 exams before they graduate. Which leaves people such as myself, who aren't really hardcore actuary bound individuals in the dust. For instance, Course 1 i spent 10 to 15 hours and squeaked by with a 7. i don't think i could justify studying x number of hours for course 2 or 3 during school time.

So this is why i flock to this forum from time to time. Trying to figure out a profession that i will enjoy. Being an actuary seems like a tricky profession in that you could get stuck in a poop company doing poop work. Then i guess that's possible anywhere, although the actuary market seems particularly saturated. Plus it seems like a good chunk of your actuary life is "exams" which is cool and all (relatively speaking) but if im gonna be doing all this studying i wanna study something truely nerdy? i mean, ya gotta get the most nerd for your buck and i feel people see actuaries as being closer to anti-social nerds then goofy-math-nerds (yes there's a difference)

Wow listen to me ramble.

So LVB III, my answer is perhaps?
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  #4  
Old 07-29-2003, 05:50 PM
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If you're going to focus on applied math in grad school, consider developing your mathematical modeling and programming skills. These can really make a difference in the really "nerdy" side of actuarial work.

For those who love that stuff, there are several jobs involved in catastrophe modelling and financial modelling, which pay quite well, and which do not require too many actuarial exams.

But, and there's always this but, very few people progress far in the actuarial profession without an actuarial credential.
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"No one remembers 5K and I wrote a nice poem for the occassion. No one remember's 10k. No one will remember 20k either." - Sir Post-A-Lot

"One of the ordinary modes, by which tyrants accomplish their purposes without resistance, is, by disarming the people, and making it an offense to keep arms."
-- Constitutional scholar and Supreme Court Justice Joseph Story, 1840

"The problem with socialism is you eventually run out of other peoples' money." -- Margaret Thatcher

"Government is not reason; it is not eloquent; it is force. Like fire, it is a dangerous servant and a fearful master." -- George Washington

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Old 07-29-2003, 06:39 PM
DW Simpson DW Simpson is offline
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Quote:
Originally Posted by beandip
although the actuary market seems particularly saturated.
To which country are your referring?
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Old 07-29-2003, 11:14 PM
neofan neofan is offline
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Quote:
Originally Posted by D.W. Simpson Webmaster
Quote:
Originally Posted by beandip
although the actuary market seems particularly saturated.
To which country are your referring?

Beandip, the market is not saturated, now you see a lot of Computer Science and Engineering grads taking exams because they're using the profession as spring board and refuge, as soon as tech sector recovers, you'll see a lot of people dropping out of the student programs and go back to what they intended to do, I guarantee, even though some may disagree with me about it.
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Old 07-29-2003, 11:24 PM
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Quote:
Originally Posted by beandip
Being an actuary seems like a tricky profession in that you could get stuck in a poop company doing poop work. Then i guess that's possible anywhere, although the actuary market seems particularly saturated.
I took the saturation comment to mean that the actuarial profession was saturated with "poop" companies, not that the job market was saturated with employees.
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  #8  
Old 07-30-2003, 07:41 AM
wonderer wonderer is offline
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I seriously considered Operations Research as a Masters instead of Statistics/ActSci. Now some major universities offer a degree which is a combination.

Serious soul searching led to some advice from an Operations Engineer whom I respected. He carefully considered me and told me that I would be better off in ActSci because Operations Research requires a lot of years of implementing other people's designs before one gained enough experience to design projects alone and he just did not see me spending a lot of years in that type of environment.

You may be different.
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  #9  
Old 07-30-2003, 07:47 AM
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Axis of Symmetry Axis of Symmetry is offline
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Quote:
Originally Posted by wonderer
Operations Research requires a lot of years of implementing other people's designs before one gained enough experience to design projects alone and he just did not see me spending a lot of years in that type of environment.
I don't think going the actuarial route will prove to be any better. And the exams will certainly take "a lot of years." :o
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  #10  
Old 07-30-2003, 10:15 AM
joeorez joeorez is offline
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Default Poop

Quote:
Originally Posted by beandip

Being an actuary seems like a tricky profession in that you could get stuck in a poop company doing poop work.
Can't argue with that. But that's true in any field.

I am trying to think back and remember my very first week as an actuarial trainee, when suddenly it hit me that I didn't know anything of relevance to the insurance business and to my new employer. You can't start at the top, unless Daddy owns the company.

How about investing years in a college teaching career teaching freshman calculus (or remedial math) and discovering you don't get tenure or are let go during the latest budget crunch?

By the way, I don't think anyone above mentioned this, but the actuaries dropped Operations Research as a subject on our exams many years ago.
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