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  #21  
Old 01-25-2019, 03:14 PM
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Actuarial is not considered an elite profession in the US so they do not recruite from top schools.

In the UK it has a much higher standing so they recruit from top schools.
From Oxford & Cambridge, really?

Well, past a certain age, I don't look at stuff they did decades ago.
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  #22  
Old 01-25-2019, 03:14 PM
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I doubt it. I interview for Harvard, and friends interview for MIT, and we've compared notes. The interviewer doesn't have a lot of influence, and his eyebrows probably went up because MIT is a weird choice if you know you want to be an actuary, not because he thought less of you for it.

That being said, we do have at least one regular poster here who went to MIT.
It's probably not a cost-effective choice, I don't know if it's a weird one. If you're high school kid who likes Math, chances are "Actuary" is going to be high on your list of potential professions. If you're a high school kid who likes math, MIT is going to be high on your list of schools you would like to attend.
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Old 01-25-2019, 03:16 PM
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From Oxford & Cambridge, really?

Well, past a certain age, I don't look at stuff they did decades ago.
The one Actuary friend I have in the UK went to ICL, so n=1 in support of Poly.
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Old 01-25-2019, 03:16 PM
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I've seen a private company fund a masters in stats in the US.
Various non-MBA programs at NYU and Columbia were started because of employer interest.

I remember when the Quantitative Finance program got started at Courant - most of the non-math people in the classes were actively working on Wall Street concurrently, which is why it was all night classes.

https://math.nyu.edu/financial_mathematics/
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Old 01-25-2019, 03:20 PM
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From Oxford & Cambridge, really?

Well, past a certain age, I don't look at stuff they did decades ago.
https://www.careers.ox.ac.uk/actuarial-profession/
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Old 01-25-2019, 03:52 PM
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I was referring to the person attending.
Then University of Illinois-Urbana Champaign should be considered elite.
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Old 01-25-2019, 04:13 PM
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Then University of Illinois-Urbana Champaign should be considered elite.
The thing is, being elite is already defined for most people since birth, and what schools you attend during childhood.

There are a few people at the margins who end up going to top schools, and make it into the "elite" after working hard and having succesful careers, even though they had a decidedly non-elite upbringing, but these people are few and far between.

The game truly is rigged for the vast majority of people. You're essentially stuck where you land really.
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Old 01-25-2019, 04:44 PM
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Maybe the actuarial students already had a decent understanding of money, and decided not to go into mountains of debt for an education that wouldn't help an actuarial career more than a cheaper education.
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Old 01-25-2019, 05:16 PM
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UPenn has an actuarial science program. I have seen several actuaries who graduated from Wharton.
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Old 01-25-2019, 06:28 PM
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It's probably not a cost-effective choice, I don't know if it's a weird one. If you're high school kid who likes Math, chances are "Actuary" is going to be high on your list of potential professions. If you're a high school kid who likes math, MIT is going to be high on your list of schools you would like to attend.
Fair enough. But MIT doesn't teach much that's directly relevant to actuaries, nor does it have any ties with actuarial employers to speak of. So if you already know you want to go into actuarial science, there are schools with a better record of funneling students into good internships and stuff. And if you are looking for a "liberal education" MIT isn't the first school most people would think of.

I'm sure the typical MIT math grad would do just fine in the actuarial world. And if you find yourself with an MIT degree and no better idea of what to do, "actuary" seems like a fine choice. But if you already know you want to be an actuary, why would you want to spend your time studying mechanical engineering or electrical engineering?
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