Actuarial Outpost
 
Go Back   Actuarial Outpost > Around the World > United Kingdom / Europe > Other Professional Discussions: United Kingdom / Europe
FlashChat Actuarial Discussion Preliminary Exams CAS/SOA Exams Cyberchat Around the World Suggestions

Search Actuarial Jobs by State @ DWSimpson.com:
AL AK AR AZ CA CO CT DE FL GA HI ID IL IN IA KS KY LA
ME MD MA MI MN MS MO MT NE NH NJ NM NY NV NC ND
OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI WY

Reply
 
Thread Tools Search this Thread Display Modes
  #1  
Old 04-08-2014, 02:20 PM
Danny Danny is offline
 
Join Date: Apr 2014
Posts: 3
Default Masters path

Hi, I'm currently studying a BSc in Actuarial Science in the UK system, so that when I graduate, I will have the CT exemptions.

So my question here is, which one of these career paths would be best:

1. Do Masters in Actuarial Management for the rest of the CA, SA and ST exemptions, and then start working; OR
2. Work for a couple of years (if so, how long) and then do Masters after that.

So, some of the things should be put into consideration here would be:
- "Studying momentum" as some would say that once you start working, you 'forget' how to study
- The kinds of salaries each path would offer.
- No worries about making money as soon as possible (but prefer highest yielding option)
- In terms of work experience, I will be doing an internship or two during my BSc.

I'd like to listen to your opinions on those, no sarcastic smart-ass responses please. Thanks in advance!
Reply With Quote
  #2  
Old 04-08-2014, 02:53 PM
Woodrow's Avatar
Woodrow Woodrow is offline
Member
SOA
 
Join Date: Oct 2002
Posts: 7,356
Default

You would probably get a better response if you put this in the UK section, or put UK in the title.

Oops, you said no sarcasm, let me try again.

You would get a better response if you put this in the UK section, or put UK in the title.
Reply With Quote
  #3  
Old 04-08-2014, 03:05 PM
Brock's Avatar
Brock Brock is offline
Defending the AO since 2007
SOA AAA
 
Join Date: Jan 2009
Location: The Venture Compound
Studying for GHDPA and GHFVA
College: Hard Knox U.
Posts: 12,746
Default

With a BSc in AS, going straight to work, taking the exams, and skipping the masters will be the highest yielding option.
__________________
|||||||||||||()Ξ████████████████████████████████)
Thanks, Tom's Alt & mod1!
Spoiler:
Quote:
Originally Posted by Statatak View Post
I'm not the sharpest tool on the AO, but I'm comforted by the idea that no matter how vapid and incoherent my arguments are that there may be a kernel of truth buried somewhere.
Quote:
Originally Posted by 2pac Shakur View Post
i am broken and incapable of thought and a bunch of other stuff
Reply With Quote
  #4  
Old 04-08-2014, 03:23 PM
guest
Guest
 
Posts: n/a
Default

Why do a masters? If your grades are high enough, just go for a PhD; in 3-years you will be Dr Danny.
Reply With Quote
  #5  
Old 04-08-2014, 03:47 PM
Ron Weasley's Avatar
Ron Weasley Ron Weasley is offline
Member
CAS AAA
 
Join Date: Oct 2001
Studying for naught.
Favorite beer: Butterbeer
Posts: 8,623
Default

An overwhelming number of posters on this forum are unfamiliar with the UK system and employment opportunities. Take Woodrow's advice and draw the few UK knowledgable posters by using a different discussion area or signalling UK in the title.
__________________
“Fantasy is escapist, and that is its glory. If a soldier is imprisioned by the enemy, don't we consider it his duty to escape?. . .If we value the freedom of mind and soul, if we're partisans of liberty, then it's our plain duty to escape, and to take as many people with us as we can!”
― J.R.R. Tolkien
Reply With Quote
  #6  
Old 04-09-2014, 01:24 PM
Danny Danny is offline
 
Join Date: Apr 2014
Posts: 3
Default

Thanks for the heads up guys. Apologies if I misplaced the thread, as that WAS my first post

Either way, any advice from folks with the US system is much appreciated!


I was under the impression that more exemptions = higher salary

So, on that assumption, a Masters degree would boost that, hence the dillema.
Reply With Quote
  #7  
Old 04-09-2014, 06:01 PM
Brock's Avatar
Brock Brock is offline
Defending the AO since 2007
SOA AAA
 
Join Date: Jan 2009
Location: The Venture Compound
Studying for GHDPA and GHFVA
College: Hard Knox U.
Posts: 12,746
Default

Quote:
Originally Posted by Danny View Post
Thanks for the heads up guys. Apologies if I misplaced the thread, as that WAS my first post

Either way, any advice from folks with the US system is much appreciated!


I was under the impression that more exemptions = higher salary

So, on that assumption, a Masters degree would boost that, hence the dillema.
What about the years of salary you are forgoing while persuing the Masters? Would you be able to pass a number of exams while working equal to the number of exempions you would receive from the Masters?
__________________
|||||||||||||()Ξ████████████████████████████████)
Thanks, Tom's Alt & mod1!
Spoiler:
Quote:
Originally Posted by Statatak View Post
I'm not the sharpest tool on the AO, but I'm comforted by the idea that no matter how vapid and incoherent my arguments are that there may be a kernel of truth buried somewhere.
Quote:
Originally Posted by 2pac Shakur View Post
i am broken and incapable of thought and a bunch of other stuff
Reply With Quote
  #8  
Old 04-11-2014, 12:15 AM
Danny Danny is offline
 
Join Date: Apr 2014
Posts: 3
Default

Masters would take only a year - giving CA1, CA3 and most of the ST exemptions, which if I'm not mistaken, could only be taken twice a year if you're not in Masters. And also, there's the higher chance of failing if taken externally.

Masters would, I think, be a shortcut to those exemptions. But what I really need to know here is: Do more exemptions really give an edge or would it be wiser to work first??

Back to that topic question.


Any help mates?
Reply With Quote
  #9  
Old 04-11-2014, 12:25 AM
FutureStatistician's Avatar
FutureStatistician FutureStatistician is offline
Member
Non-Actuary
 
Join Date: Sep 2013
Posts: 194
Default

I'd recommend sending a PM to jas66kent. He's the resident expert on the English exam system around here. I believe he did two master's degrees to get all the possible exam exemptions. He probably will be able to answer your question, but I don't know how often he comes to this section of the AO.
Reply With Quote
  #10  
Old 04-11-2014, 05:42 AM
GargoyleWaiting's Avatar
GargoyleWaiting GargoyleWaiting is offline
Member
 
Join Date: Sep 2009
Favorite beer: the closest one
Posts: 7,269
Default

Quote:
Originally Posted by Danny View Post
Masters would take only a year - giving CA1, CA3 and most of the ST exemptions, which if I'm not mistaken, could only be taken twice a year if you're not in Masters. And also, there's the higher chance of failing if taken externally.

Masters would, I think, be a shortcut to those exemptions. But what I really need to know here is: Do more exemptions really give an edge or would it be wiser to work first??

Back to that topic question.


Any help mates?
Get a job after your BSc - do the exams while you're working. That's the well trodden career path:
- start work
- do exams
- big pay rise when you qualify


The thing is, if you do the Masters, you'll be almost (or fully? I don't know the current rules) qualified but with no work experience. You won't be paid like a qualified actuary, you'll be paid much more like an entry level - because that's the level of work you'll be able to do. Without the trigger points of exam progression your later pay rises won't be as obvious, my feel is you'd get less than if you follow the norm.

It's been 10-15 years since they started giving out exemptions for more than the CTs, but much of the job market still doesn't know how to deal with these people.


ETA: I'm talking about the life insurance side here, views may be different in other areas.

Last edited by GargoyleWaiting; 04-11-2014 at 05:51 AM..
Reply With Quote
Reply

Tags
career path, exemption, masters, salary

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off


All times are GMT -4. The time now is 08:46 PM.


Powered by vBulletin®
Copyright ©2000 - 2019, Jelsoft Enterprises Ltd.
*PLEASE NOTE: Posts are not checked for accuracy, and do not
represent the views of the Actuarial Outpost or its sponsors.
Page generated in 0.21684 seconds with 9 queries