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  #11  
Old 12-06-2006, 12:01 PM
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Ohhhh. Now I know!
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  #12  
Old 12-06-2006, 12:03 PM
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There are tons of people trying with CFA out there, all with very different career background. Many of them do not have the high-profile, high-paying finance jobs that people perceive CFAs to have. In fact, a lot of people take CFA exams just to get a job, but of course they won't be fully qualified because of the lack of work experience. So a CFA does not guarantee entrance to those Street jobs that give a $125k AVERAGE salary. But having an FSA pretty much guarantees a 6 digit ultimately...
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  #13  
Old 12-06-2006, 12:06 PM
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Originally Posted by SirVLCIV View Post
Here we go again...
Heh, I was waiting for that.
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  #14  
Old 12-06-2006, 12:18 PM
Gator Cane Gator Cane is offline
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Good Lord, this is like being in college again.

LET'S REVIEW:

(Given that your chosen field can pay well)
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Originally Posted by bjengs View Post
Really, no matter what career you choose, if you bust your hump and learn to work effectively with others you will be a raging success. If you do merely what is asked of you throughout your career you will make the industry average (or less). This is true of any line of work. So pick a line of work you're going to enjoy more, that will make it easier to excel.
Just from a complete outsider's perspective (hopefully not an outsider much longer ) it would seem that the actuarial profession allows for its constituents to have more well-rounded lives. Sure, the pay may be "lower," but once you've been out of college for a few years most folks come to understand that it's about more than a paycheck. I'm sure that CFA's tend to make more, I know that investment bankers do, but I know that those professions demand you live a certain kind of life in return. No free lunch there.

I just turned down a job opportunity recently, one that I would have killed for 10 years ago coming out of school. One that I could brag to my friends about, one that would involve being on some cutting edge stuff, one that paid pretty darn well right out of the gate. It's just that I never would have seen my wife and son again, so I concluded the interview by asking them to withdraw me from consideration and walked out with my integrity intact.
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  #15  
Old 12-06-2006, 12:28 PM
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I found a Director level CFA job in NYC going for $125-$150k, hmm i guess the average CFA lives in NYC and is at the director level??
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  #16  
Old 12-06-2006, 12:40 PM
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Originally Posted by GraffixMan View Post
I found a Director level CFA job in NYC going for $125-$150k, hmm i guess the average CFA lives in NYC and is at the director level??
I'm guessing that's a director at a rating agency (S&P or Moodys) which is much different than a director at an insurance company. I believe somewhat entry level positions are associate directors and the next step up is the director level.
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  #17  
Old 12-06-2006, 01:11 PM
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Director - Transportation Finance
5+ years experience
MBA, CFA Preferred
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  #18  
Old 12-06-2006, 01:20 PM
Dr T Non-Fan Dr T Non-Fan is offline
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I just got through the first 4 actuarial exams and feel disillusioned. I read an article on CNN that says the average pay for financial analysts is 125,000 whereas for actuaries it is 82,000. So it gets me thinking: there are only 3 CFA exams, so why are we putting so much time and effort into something when there is a SHORTER exam-based career out there with much BIGGER rewards?
You don't have to. You have choices. What's stopping you? See what happens.

The skill sets of each profession are different. So, the salaries can't really be compared. Anyone who is comparing salaries should seriously look into the CFA profession, since an actuary wouldn't do such a thing.
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  #19  
Old 12-06-2006, 02:04 PM
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I used to work at a brokerage firm. The folks that had been there 10 years and had a CFA were pulling in about $300K. The actuaries here that have been here 10 years and have an FSA are probably making about half that.

But the CFAs were working 80 hours a week and the FSAs are working 40 hours a week. On an hourly basis, the pay is darn near close to equal.
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  #20  
Old 12-06-2006, 02:07 PM
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Quote:
Originally Posted by twig93 View Post
I used to work at a brokerage firm. The folks that had been there 10 years and had a CFA were pulling in about $300K. The actuaries here that have been here 10 years and have an FSA are probably making about half that.

But the CFAs were working 80 hours a week and the FSAs are working 40 hours a week. On an hourly basis, the pay is darn near close to equal.
what was the location of the office?
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