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  #61  
Old Yesterday, 01:15 PM
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What other advanced math courses are you familiar with?
None, because that's the only one that matters.
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Yes, well, that's partially the result of my robust education. I was exposed to far more than a narrow money-making selection of classes. The influence of art, literature, and other liberal arts makes it easier for me to write coherently in a format significantly longer than 140 characters. Additionally, I am able to use colorful terms that illustrate my ideas, words that exceed two syllables in length, and even proper punctuation (most of the time).
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  #62  
Old Yesterday, 01:16 PM
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Same. Dotcom bust/offshoring boom happened in the early 2000s and parents told me not to do engineering.
Haha yeah, I kept hearing about threat from India and how it will be so hard to get a job after college.
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  #63  
Old Yesterday, 01:18 PM
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Haha yeah, I kept hearing about threat from India and how it will be so hard to get a job after college.
That's because it was hard. I knew of a few acquaintances that were CS grads in 2001 that were having trouble getting jobs.
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Originally Posted by Helena Lake View Post
Yes, well, that's partially the result of my robust education. I was exposed to far more than a narrow money-making selection of classes. The influence of art, literature, and other liberal arts makes it easier for me to write coherently in a format significantly longer than 140 characters. Additionally, I am able to use colorful terms that illustrate my ideas, words that exceed two syllables in length, and even proper punctuation (most of the time).
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  #64  
Old Yesterday, 01:29 PM
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I am an ASA in the development program of a life insurance company with roughly two years of experience making 91k.

I have a few data points collected personally.

A Senior Director from my company (Ph.D. and FSA with 11 years of actuarial experience) makes $190,000, and a software developer (age 23) in my building with less than 2 years of experience makes $150,000. The issue is not how much they're making now, but rather their age differences and how much compounding in terms of raises the SE can get by starting out so high.

The senior director just came from another company, so the person is likely to make more now than at the old company. Both people in the picture work in the Greater New York area.

While I have some other friends in banks making slightly lower than 150K, I think the example above provides the starkest contrast.

I am wondering, why, that as (life) actuaries we plow through the grueling exam process sacrificing personal time and life expectancy, deal with the most complex products where interaction of risks is very unique (biometric risks and financial risks) and that things can go wrong either way -- the classical short straddle problem -- where the insurer suffers if rates go up or down, and that we as actuaries get so little monetary recognition.

My cousin (5 years younger than I) interns at a tech company as a programmer, and she founds out they pay the entry-level (lowest level) software developer 110K and thought that's low. I said, I'll be making that after I get my FSA and a promotion.

I understand that the sample size is small; I am drawing dangerously general conclusions from my sample, both person may have their own circumstances making them incomparable, and I am only comparing them across one dimension (salary + bonus). But I feel compelled to make this comparison.

Furthermore, in my opinion, becoming a programmer is much easier if we only compare the study methods. For programmers who want to land a job in a tech company, they need to master the coding interview by going through sites like LeetCode to solve problems. Once they mastered the numerous algorithms and developed a good handle on when and how to use different data structures to solve problems, they can apply that skill in the next and more complex problem. Programmers would get hands-on experience whether it's on the job, or off the job preparing for interviews. For actuaries, the knowledge we learn are often fragmented, abstract and irrelevant to our jobs. (Yes I hear a lot of actuaries in life insurance complaining CFE/QFI track actuaries about the uselessness of their exams if they are not doing risk management or hedging related work.)

Lastly, did I mention programmers do not have professional exams to take, while actuaries often get additional credentials such as CFA and to a lesser extend FRM to help advancing their career?

In any case, any comment is welcome.
It's a labor market. The salary is determined by supply and demand. Similar complaints can be applied to accountants, nurses, attorneys, college professors... A lot of professions require rigorous school and at-the-job training. IT industry has been booming in the last two decades or so. If you admire that high salary, maybe you can try becoming one, or get actuaries paid similarly, which will make everyone here thankful to you.
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  #65  
Old Yesterday, 02:26 PM
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Why would anyone become a life actuary when they can become an elevator repairman instead?
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Don't you even think about sending me your resume. I'll turn it into an origami boulder and return it to you.
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  #66  
Old Yesterday, 02:27 PM
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Originally Posted by Helena Lake View Post
Yes, well, that's partially the result of my robust education. I was exposed to far more than a narrow money-making selection of classes. The influence of art, literature, and other liberal arts makes it easier for me to write coherently in a format significantly longer than 140 characters. Additionally, I am able to use colorful terms that illustrate my ideas, words that exceed two syllables in length, and even proper punctuation (most of the time).
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  #67  
Old Yesterday, 02:32 PM
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MS in Act Sci tells me you couldn't get hired after your BS.
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  #68  
Old Yesterday, 02:50 PM
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MS in Act Sci tells me you couldn't get hired after your BS.
MS in Act Sci tells me you don't have permanent residency in the US and you are hoping to prove yourself valuable enough to sponsor while on your student visa.
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