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  #1  
Old 12-06-2006, 01:09 AM
al1835 al1835 is offline
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Thumbs down FSA vs. CFA

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?
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Old 12-06-2006, 01:31 AM
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Firstly, DO NOT believe what CNN says...just watch it to laugh at them (or read it to laugh at them)

However, you do have a good point on shorter exam base vs pay.

However, once you have your FSA life is just chillin...and it's very stress free compared to having a CFA. My Accouning prof. said that CFA's are very very busy people.
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Old 12-06-2006, 10:34 AM
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I agree with Rad, don't pay attention to this BS. Realize that statistics can be skewed to yield favorable results. I can do a biased study and conclude that garbage men make more than actuaries. These stats are BS. $125k is an extemely high average salary. I bet they include CFO/CEO/etc into this $125k figure. Whereas the $82k seems awfully low for average actuary salary. I bet they include students in this figure (non-credentialed). Also I would bet they don't include CEO/Presidents with actuarial credentials. A median figure would be the better measure to use to do a fair comparison.

Last edited by DudeMan; 12-06-2006 at 10:44 AM..
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Old 12-06-2006, 11:15 AM
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Nicely said GraffixMan
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Old 12-06-2006, 11:22 AM
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Quote:
Originally Posted by rad View Post
, once you have your FSA life is just chillin...and it's very stress free compared to having a CFA.
Wow, where do you work? I have an FSA and I want to chill.
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Old 12-06-2006, 11:23 AM
DW Simpson DW Simpson is offline
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Quote:
Originally Posted by GraffixMan View Post
I agree with Rad, don't pay attention to this BS. Realize that statistics can be skewed to yield favorable results. I can do a biased study and conclude that garbage men make more than actuaries. These stats are BS. $125k is an extemely high average salary. I bet they include CFO/CEO/etc into this $125k figure. Whereas the $82k seems awfully low for average actuary salary. I bet they include students in this figure (non-credentialed). Also I would bet they don't include CEO/Presidents with actuarial credentials. A median figure would be the better measure to use to do a fair comparison.
Good points.

See these discussions regarding the CFA for additional points: http://www.actuarialoutpost.com/actu...3&postcount=30 , as there have been other discussions about this compensation "discrepancy".
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Old 12-06-2006, 11:34 AM
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Wait until the average FSA salary falls due to shorter travel time which means less experience per FSA which means less $$ per FSA. In the future you'll see an even worse comparison of CFA vs FSA since the CFA is increasing their travel time.

Good thing college students don't look at this type of stuff when deciding which career to enter.
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Old 12-06-2006, 11:39 AM
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Im sorry to be ignorant, but what is "travel time"?

Is that supposed to mean the 'time to travel from home to work'?
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Old 12-06-2006, 11:42 AM
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Im sorry to be ignorant, but what is "travel time"?

Is that supposed to mean the 'time to travel from home to work'?
Actuarial travel time is the amount of time from when you start your first full time actuarial job to the time when you complete your designation.
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Old 12-06-2006, 12:01 PM
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Quote:
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Wait until the average FSA salary falls due to shorter travel time which means less experience per FSA which means less $$ per FSA. In the future you'll see an even worse comparison of CFA vs FSA since the CFA is increasing their travel time.

Good thing college students don't look at this type of stuff when deciding which career to enter.
Here we go again...


(OTOH, what's the average salary for an FSA+CFA ).
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