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  #1  
Old 02-11-2019, 08:18 AM
Cambria Cambria is offline
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Default Am I too old to become an actuary?

Good morning all,

I just turned 30 years old and will finish my bachelors degree in finance by mid-December. Currently, I知 also working 50+ hours a week so I don稚 have time to study for Exam P until I finish school.

So I値l be 40ish when I complete the program. Am I too old? Will I regret spending my 30s inside studying or will I be proud and happy I did?

I知 single and have one friend.

Thank you,
Jeff
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  #2  
Old 02-11-2019, 08:20 AM
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Whiskey Whiskey is offline
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No
Not too old.
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  #3  
Old 02-11-2019, 09:23 AM
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SlowMotionWalter SlowMotionWalter is offline
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Not too old.
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  #4  
Old 02-11-2019, 10:23 AM
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LifeIsAPoissonProcess LifeIsAPoissonProcess is offline
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What are your alternatives?
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  #5  
Old 02-11-2019, 10:34 AM
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ShundayBloodyShunday ShundayBloodyShunday is offline
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I started when I was 35.

And you don't have to complete *all* of the Exams to get a job in the field.

Unless you're in Canada, you'll need to pass at least one to even be considered (more or less). You will likely need to get two under your belt to start to be competitive*.

You should start with FM and maybe take whatever the current equivalent of MFE (I hope someone can help identify which one that is, IFM?) since these Exams are most closely aligned with your degree and you could probably knock them out before graduating. Then start studying for P after you graduate.



*If you have a good network, you could still land a job with only 1 Exam. That is how I landed my current job with only 1 Exam passed.
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  #6  
Old 02-11-2019, 10:42 AM
NAMAK NAMAK is offline
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Quote:
Originally Posted by ShundayBloodyShunday View Post
I started when I was 35.

And you don't have to complete *all* of the Exams to get a job in the field.

Unless you're in Canada, you'll need to pass at least one to even be considered (more or less). You will likely need to get two under your belt to start to be competitive*.

You should start with FM and maybe take whatever the current equivalent of MFE (I hope someone can help identify which one that is, IFM?) since these Exams are most closely aligned with your degree and you could probably knock them out before graduating. Then start studying for P after you graduate.



*If you have a good network, you could still land a job with only 1 Exam. That is how I landed my current job with only 1 Exam passed.
What year was this and what were you switching from? I think this has changed as career changers from a non-technical field will find it tough to break in my mind. Need one or two exams but also something else to offer in technical skills.
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  #7  
Old 02-11-2019, 10:48 AM
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Passed my first exam just shy of my 30th birthday. Got my first actuarial position at 33 (with 3 exams).
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  #8  
Old 02-11-2019, 10:54 AM
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ShundayBloodyShunday ShundayBloodyShunday is offline
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Quote:
Originally Posted by NAMAK View Post
What year was this and what were you switching from? I think this has changed as career changers from a non-technical field will find it tough to break in my mind. Need one or two exams but also something else to offer in technical skills.
Time: somewhere between 2000 and 2009. PM if you'd like more exact info.

Career changing from teaching (in that field for ~10 years).

Also, my networking was the primary reason I was able to get an interview fairly quickly. I doubt that my resume with just one Exam would've been competitive enough to get an interview otherwise. (Many of the others that were hired around the time I started had 3 or 4 Exams, but were recent grads.)

While teaching isn't exactly a "technical field," it did demonstrate my ability to explain technical things to a non-technical audience. I've seen many career changers on the P&C side coming primarily from teaching (usually math).

With all that said, there is still the need to interview well. Passing Exams and "looking good on paper" is only a path to getting an interview.
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  #9  
Old 02-11-2019, 10:59 AM
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Arthur Itas Arthur Itas is offline
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Quote:
Originally Posted by Cambria View Post
Good morning all,

I just turned 30 years old and will finish my bachelors degree in finance by mid-December. Currently, I知 also working 50+ hours a week so I don稚 have time to study for Exam P until I finish school.

So I値l be 40ish when I complete the program. Am I too old? Will I regret spending my 30s inside studying or will I be proud and happy I did?

I知 single and have one friend.

Thank you,
Jeff
Not too old.

It's good that you realize the commitment it will take in terms of studying. It will eat up a significant amount of time.
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  #10  
Old 02-11-2019, 11:11 AM
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Quote:
Originally Posted by Cambria View Post
Good morning all,

I just turned 30 years old and will finish my bachelors degree in finance by mid-December. Currently, I知 also working 50+ hours a week so I don稚 have time to study for Exam P until I finish school.

So I値l be 40ish when I complete the program. Am I too old? Will I regret spending my 30s inside studying or will I be proud and happy I did?

I知 single and have one friend.

Thank you,
Jeff
Quote:
Originally Posted by ShundayBloodyShunday View Post
I started when I was 35.

And you don't have to complete *all* of the Exams to get a job in the field.

Unless you're in Canada, you'll need to pass at least one to even be considered (more or less). You will likely need to get two under your belt to start to be competitive*.

You should start with FM and maybe take whatever the current equivalent of MFE (I hope someone can help identify which one that is, IFM?) since these Exams are most closely aligned with your degree and you could probably knock them out before graduating. Then start studying for P after you graduate.



*If you have a good network, you could still land a job with only 1 Exam. That is how I landed my current job with only 1 Exam passed.
Quote:
Originally Posted by Cambria View Post
Good morning all,

I just turned 30 years old and will finish my bachelors degree in finance by mid-December. Currently, I知 also working 50+ hours a week so I don稚 have time to study for Exam P until I finish school.

So I値l be 40ish when I complete the program. Am I too old? Will I regret spending my 30s inside studying or will I be proud and happy I did?

I知 single and have one friend.

Thank you,
Jeff
Quote:
Originally Posted by ShundayBloodyShunday View Post
With all that said, there is still the need to interview well. Passing Exams and "looking good on paper" is only a path to getting an interview.
Not too old, and reasonable chance of getting hired (if you're in the US) with two exams and you interview well.

Understand that the exams are hard. Pass rates are often under 50%, even among candidates who have already passed many of them, who presumably are smart, have lots of incentive to pass, and are studying a lot. Most of those who start the exams never pass them all. Some stay in the field anyway, but rarely at salary levels they hoped for when they started the process. Here's a recent thread about that http://www.actuarialoutpost.com/actu...d.php?t=337089

Good luck!
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