A Comment on Career-Changer Actuarial Students

I'm still getting to the background post, but I wanted to write some thoughts I have on career changers and older students.  For the record, I am in my mid 20s and just graduated with a second bachelors degree in math.  I spent two years working in a field I didn't enjoy and another two working part time while earning the degree.

I attended a public university and there were/are a lot of older students in the math department majoring in 'actuarial science'.  They are no doubt a product of the 08-09 recession and the marketing efforts of the SOA.  I graduated into the recession whereas many of the people I am thinking of are in their 30s and 40s and went back to school after layoffs or a string of non-career type jobs.  I respect anyone that chooses to go back to school and improve their skills later in life - it is not easy.  A big part of the college experience is the social aspect, but as an older student you are not a part of that (or you awkwardly try to be and make the kids uncomfortable).

I suspect many of the older actuarial students picked the major as a result of a google search for 'best career' or something similar and were attracted by the high salary.  Then there is the DWS salary survey hanging prominently on every bulletin board in the halls of the math building.  I met several such people who still, after a year in the program, didn't quite know what actuaries do; they knew it was insurance and had something to do with risk.  More than once I heard discussions about difficulties with material - not on the exams but in the relatively easy courses.  Many of them seemed to have a perpetual look as if they knew they shouldn't have raised after the flop and now the river was out and they were all in with a shitty hand.  I know of some who were struggling to get by with C's and couldn't pass one exam, but showed up at every career event neatly dressed with their resume, "Actuarial Student" under their name (I don't know what resume critiquer suggested that), all competing for the same internship which a 20 year old with two exams passed is going to land.  Poor suckers.

I admit I tend to try and classify people, fit them to a profile...stereotype is not the right word only because one doesn't always exist.  Anyway, let me qualify the above paragraph just to say that I also knew some older students who outperformed me academically and I'm sure will do well.  The point I am making is that you should not be so proud that you place a large bet on something that is truly beyond your abilities because you are desperate and think that determination will allow you to do anything.  Determination is good, but you also need to have a mind that is well-adapted to studying mathematics.  If you can't get an A in Calc I and II, that is probably enough to know you should choose something else.

I'll leave it there.  This is my first blog and I'm still trying to find my voice.  Hopefully I'll work that out before I have any blog viewers.  I start my job next week so I'll try to get the background post out of the way before then.

-Analyst