Anyone else considering Grad school???

[sulfysulf]

Hi Everyone,

So, a little about myself: I graduated with an Engineering degree back in 2006. After a short time in the field, I realized my passions lie elsewhere...although, I had actually suspected this around my junior year but by then already felt committed. In my search for a better fit, I came across the actuarial sciences...and like many in this forum, it's been a very passionate love/hate relationship ever since. So, at this point, I've passed exam P and FM...and I'm on my way to take MFE in May. As with everyone else in the US and the world for that matter, I am having no luck at all in my job search. So, now I'm looking at a situation where I am qualified for an entry-level position (according to past standards), but I know that this job climate isn't about to change anytime soon.

So, what to do???

Well, I want to stay on the path and to appear fresh rather than stale...not to mention, I don't think I'd have much better luck working anywhere else in the meantime. I'm missing some VEE requirements. Also, it's my impression that once in school, the opportunity of internships open up...which then can be leveraged to acquire a full-time job. Also, I'd like to get deeper into the theory...whereas, even though I'm passing the exams with high scores...I'd like to have a more firm understanding of the theories driving our practice. Also, to be in study again is much better than sitting around doing nothing...both for the soul and in the eyes of the employer. Also, I'm thinking that an advanced degree in actuarial sciences would help someone stand out from the pack. As for the cost...luckily there's a school in my state, Ball State University, with a graduate program.

So, now my questions to the reader...and please answer as many as you can for all to ponder. 1. Is graduate school going to over-qualify someone for an entry-level job? 2. Would this open up potential internship opportunities? 3. Is it much of an attraction to an employer if you've already finished your VEE requirements, rather than the contrary? 4. Is completing the M exams, both MFE and MLC before the first job going to place me outside the entry-level range? 5. Since I'm back in school, I could take a class to beef up my computer skills...which software would you consider most important for our jobs or to employers? 6. Does Ball State have a good graduate program?

Thanks for all your input and if anyone else is considering graduate school...please get in touch!

[aichi]

What's your work experience like since you've been graduated? If you are considering graduate school, I think it is not necessary go for an Actuarial degree, anything closely related, at least in my opinion, can be just as good or better, such as statistics. You can finish your VEE while there too.

As of Internships, it comes down to how much Actuarial WORK EXPERIENCE you've had in that specific field. Having a lot of exams passed not necessarily qualify you for a upper-level position.

[sulfysulf]

I've been out of work for over 1 year now...long story short, my fiance is an Austrian citizen and I wanted to spend time with her there. So, this is an area where I'm most weak. Your Stat recommendation is very interesting...I've felt a little concerned about being too specific...in case all of this stuff doesn't work out! A Stat degree would still keep the doors more open to other options. Although, 1/2 the reason I want to go back to school is to open the door to actuarial internships. Do you know whether a Stat student would have the same opportunities to get an actuarial internship?

[aichi]

I would think so. My school has a MS in Statistics programs, and quite a few students from that program get into Actuarial positions. I think this has to do with location a lot. My school is located in NY, so even though we don't have an actuarial program, Stats students with a few exams passed can still find jobs.

[ferventforager]

In this economy grad school is probably a good option. An MS in statistics is a good way to go. As far as having too many tests, i had been worried about the same thing. I just landed an actuarial job and will start next month. I am excited moreso than you can imagine in this job market.

I am almost two years out of college. I worked in industrial engineering and then about 7 months ago took a leap to an insurance job that was basically underwriting. I continued studying and passed FM last fall. I also did everything I could to blow away my peers and management at work. That paid off and I landed a 4 hour long interview last week with the corporate actuarial unit where I work. Two days later I had a job offer and I start next month. I have been studying since February and will take MFE in May so I was concerned I would have too many tests without a job, but now I am worry free.

I think moving into an insurance company in a position to be in some contact with actuarial can be a good way to go since the economy is down. Grad school is always useful professionally an personally. I had actually started working on an MS in Stat part time last year and would still like to finish it in the future.

[aichi]

''', 4 hour interview? That's impressive. I'd be quite dizzy by the end. Mind enlighten us on what was it like??

In this economy grad school is probably a good option. An MS in statistics is a good way to go. As far as having too many tests, i had been worried about the same thing. I just landed an actuarial job and will start next month. I am excited moreso than you can imagine in this job market.

I am almost two years out of college. I worked in industrial engineering and then about 7 months ago took a leap to an insurance job that was basically underwriting. I continued studying and passed FM last fall. I also did everything I could to blow away my peers and management at work. That paid off and I landed a 4 hour long interview last week with the corporate actuarial unit where I work. Two days later I had a job offer and I start next month. I have been studying since February and will take MFE in May so I was concerned I would have too many tests without a job, but now I am worry free.

I think moving into an insurance company in a position to be in some contact with actuarial can be a good way to go since the economy is down. Grad school is always useful professionally an personally. I had actually started working on an MS in Stat part time last year and would still like to finish it in the future.