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#1
01-24-2018, 11:15 AM
 Pension.Mathematics Member SOA Join Date: Dec 2017 Studying for Done with exams. Posts: 680
What % of people who pass the first actuarial exam...

end up being an FSA or FCAS within 10 years?

based on some quick napkin math, I have a guess that it's less than 20%!

Anyone?
#2
01-24-2018, 11:23 AM
 ronaldy27 Member CAS Join Date: Jan 2012 Location: The South Studying for the credential Posts: 2,509

Quote:
 Originally Posted by Pension.Mathematics end up being an FSA or FCAS within 10 years? based on some quick napkin math, I have a guess that it's less than 20%! Anyone?
Why does this matter?
I'm assuming it's not high.
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#3
01-24-2018, 11:26 AM
 JMO Carol Marler Non-Actuary Join Date: Sep 2001 Location: Back home again in Indiana Studying for Nothing actuarial. Posts: 37,126

Quote:
 Originally Posted by ronaldy27 Why does this matter? I'm assuming it's not high.
I would really like to know what the person who asked the question would do with the answer if it was available.
The professional organizations do not make this information available. And I think they are right in that decision.
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#4
01-24-2018, 11:35 AM
 Pension.Mathematics Member SOA Join Date: Dec 2017 Studying for Done with exams. Posts: 680

Quote:
 Originally Posted by JMO I would really like to know what the person who asked the question would do with the answer if it was available. The professional organizations do not make this information available. And I think they are right in that decision.
I am sure some kind of drop-out rate analysis could be done to get a ballpark figure...

but I am curious, what harm would be associated with making that information available?

If it's a low number, it would make the designation itself seem more prestigious, no?

If both SOA and CAS provided that information, we would also be able to compare the relative difficulties of FSA and FCAS, no?

why would more transparency hurt anyone?
#5
01-24-2018, 11:43 AM
 Abnormal Member Join Date: Mar 2002 Posts: 6,675

Quote:
 Originally Posted by JMO The professional organizations do not make this information available.
True - they do look at travel time but they don't consider what percentage of candidates actually "stick it out" to become Fellows of the relevant organization, let alone how many of them actually do it within a particular time frame.

Trying to measure from the first exam doesn't make a lot of sense either. I was a math major and when I was in grad school a number of my friends wrote the old Parts 1 and 2 because they didn't know what they were going to do after finishing their degrees and it was something to do (besides, they could write those exams cold and pass without too much difficulty). Only one of them went on to even take an actuarial job let alone become a Fellow. [I didn't write - I just applied for credit for Part 1 based on my GRE results. And didn't actually sit an exam for another 5 years.]
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#6
01-24-2018, 11:43 AM
 ronaldy27 Member CAS Join Date: Jan 2012 Location: The South Studying for the credential Posts: 2,509

Is it very important to make career decisions based on prestige and whether the career path is difficult or not?

Even with the answer to what you're asking, you won't be able to make a good decision if those are the factors you're considering.

Choose the path that interests you. The exam process is long.

I did hear from the former president of SOA mention that only 10% who pass P, end up being an FSA IIRC.
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#7
01-24-2018, 11:46 AM
 SlowMotionWalter Member CAS Join Date: Jun 2013 Posts: 11,893

Quote:
 Originally Posted by ronaldy27 Is it very important to make career decisions based on prestige and whether the career path is difficult or not? Even with the answer to what you're asking, you won't be able to make a good decision if those are the factors you're considering. Choose the path that interests you. The exam process is long. I did hear from the former president of SOA mention that only 10% who pass P, end up being an FSA IIRC.
10% sounds insanely high.
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#8
01-24-2018, 11:46 AM
 NormalDan Member CAS Join Date: Dec 2016 Location: NJ Posts: 6,163

I have the biggest button
#9
01-24-2018, 11:47 AM
 ronaldy27 Member CAS Join Date: Jan 2012 Location: The South Studying for the credential Posts: 2,509

Quote:
 Originally Posted by NormalDan I have the biggest button
Yeah but is it on your desk though?
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#10
01-24-2018, 11:48 AM
 JoeGot Member SOA AAA Join Date: Aug 2013 Location: ny Posts: 277

http://www.actuarial-lookup.com/travel-times