Job Market Contracting

[ao fan]

Originally Posted by El Actuario

The actuarial profession is somewhat of an anomaly in terms of educational requirements. You can easily earn a 6-figure income with “only” a bachelors degree, but that’s obviously misleading. I think outsiders see that and give undue credit to the major itself because they don’t understand the credentialing process.

All things considered, I do think this is a good profession if you can break into it. I get why the career rankings give us high marks. But majoring in Actuarial Science is a gamble, and I don’t think it deserves such praise.

it depends on what field you get into. i don't think pensions could be viewed as a top field. it's a dying field.

[ao fan]

Originally Posted by Liar

This is incorrect. This was true for a long time, especially during 2000-2017 which had the easiest and shortest exams, but starting 2017, the exams have gotten enormously more difficult. I would not recommend this field.

Older actuaries have absolutely no clue just how difficult current-day exams are.

you're a broken record. get a new schtick. i would have thought you would have given up this angle after totally getting owned in the exam forum here:

http://www.actuarialoutpost.com/actu...&postcount=227

[Colymbosathon ecplecticos]

Originally Posted by Liar

What's the point of studying if you're going to forget it a week after you pass an exam?

Well, I agree with this.


Maybe you're doing it wrong.

Originally Posted by DoctorNo

Source?

You know, with your name and all. Common sense to ask.

https://www.goasny.org/index.php?opt...1792a1fb808283
this year 9 e'ers, no idea about the past.

[hjacjswo]

Originally Posted by secondlife

https://www.goasny.org/index.php?opt...1792a1fb808283
this year 9 e'ers, no idea about the past.

To be fair, that really is a small number given that its nyc. like no aig, metlife, etc.

[the mole]

Originally Posted by Liar

You think the difficulty is going to flatline from here on out?
I'm not trying to brag about how hard we younger actuarial candidates have it, because the candidates from 2028 will have it even harder than we do. You think the SOA is going to stop at discrete time series for LTAM? They're going to add continuous models in a few more years. You can bet on it.

The best eyes on the AO don`t see discrete time series listed on the LTAM syllabus.

[Liar]

Originally Posted by the mole

The best eyes on the AO don`t see discrete time series listed on the LTAM syllabus.

The retiree health benefit and mortality improvement sections are all discrete time series.

[Fracktuary]

Originally Posted by DoctorNo

I'm still confounded as to why the staff allows you to do what you do in the professional sub-fora, but I'm done engaging you.

Good luck finishing your actuarial exams. Come back when you have a source to the sole piece of so-called data in your original post.

Yah seriously.

The mods need to do a better job. I am starting to enjoy this website less because of people like Liar.

[Liar]

Originally Posted by secondlife

https://www.goasny.org/index.php?opt...1792a1fb808283
this year 9 e'ers, no idea about the past.

Last year, I believe there were 11 or 12. The year before that 13. It's been dropping every year.

The SOA and CAS are in a pickle here. It's obvious they're threatened by the rise of data science and the $2/day data analysts in lower wage countries.
Exams SRM and PA are responses to data scientists, but would 2 exams really make someone as capable as someone with a PhD in statistics?

Even the time series sections on LTAM are an attempt by the SOA to make the content on the exams more applicable to the real world, but the material is too basic.

It's not looking to good for the SOA. I can see many insurance company execs salivating at the thought of replacing actuaries with minimum wage data analysts and data scientists.

[AEM]

Originally Posted by Liar

Last year, I believe there were 11 or 12. The year before that 13. It's been dropping every year.

The SOA and CAS are in a pickle here. It's obvious they're threatened by the rise of data science and the $2/day data analysts in lower wage countries.
Exams SRM and PA are responses to data scientists, but would 2 exams really make someone as capable as someone with a PhD in statistics?

Even the time series sections on LTAM are an attempt by the SOA to make the content on the exams more applicable to the real world, but the material is too basic.

It's not looking to good for the SOA. I can see many insurance company execs salivating at the thought of replacing actuaries with minimum wage data analysts and data scientists.

Replacing actuaries with minimum wage PhD data scientists seems like a really smart business decision. Convincing these individuals to work in the insurance industry for minimum wage however might be challenging.

I agree that it's not looking good for the SOA, but this has less to do with the hypothetical existence of minimum wage PhDs, and more to do with the maturity of the SOAs lines of business.