Becoming a professor

[RumJum]

I was just wondering what the typical career path was to become a professor. Would I just have to pass all of my exams and become an FSA or would I have to get a Masters? How is the pay compared to other people who have these qualifications?

[NoMoreExams]

I was just wondering what the typical career path was to become a professor. Would I just have to pass all of my exams and become an FSA or would I have to get a Masters? How is the pay compared to other people who have these qualifications?

Depends on the university? Some will allow you to get an FSA + Masters, others will still want a PhD.

[FSA]

Agree with NoMoreExams, it will vary considerably. A search of the actuarial directory online shows 277 PhD/FSA combinations (some will be in industry as opposed to academia, some retired, etc) and 275 PhD/ASA combinations. For fun, there are 14 PhD/CERA combinations. Five of these appear to be in academia, 3 at the same university.

At Nebraska, for instance, the Chair of the department is an FSA but does not have a PhD. He actually doesn't have the title "professor". Two ASAs are also on the faculty of the Act Sci department, both are PhDs and have the title "Professor" or "Associate Professor". There's also an FSA on staff as a "lecturer" with just a Bachelor's degree.

At Texas, the director of the program is a PhD and ASA.

At Drake, the head of the program is an FSA and PhD while another with the title of "Assistant Professor" is an ASA.