Additionally, please tell me about the career options after statistics if I don't pursue Actuarial Science and instead go in for Ph. D in Statistics. (If i drop the idea of engineering also)
Cynthia LY
Favorite Answer
If you absolutely adore mathematics and are undaunted by the thought of taking biannual examinations for a decade, a career as an actuary may be perfect for you. Actuaries evaluate past and present insurance statistics to estimate future financial risks. On the basis of their findings, they calculate insurance premium rates and also design or modify policies to keep their companies profitable and competitive.
Things You’ll Need: Financial Calculator,Watches With Alarm,
Career Counseling,Financial Software,Investment Software,
Online Career Search,Spreadsheet Softwares
Step 1 Take advanced mathematics courses in high school and also advanced placement (AP) courses, if possible. Ask your high school guidance counselor to recommend colleges with outstanding mathematics programs.
Step 2 Obtain a bachelor's degree in mathematics, statistics, actuarial science, economics, accounting or finance.
Step 3 Make certain you receive excellent training in calculus, probability and statistics. Take liberal arts courses that will sharpen your communication and interpersonal skills.
Step 4 Understand that you will have to take a series of biannual actuarial exams that can take up to 10 years to complete, depending on your ambition. Preparation will involve mostly independent study, with perhaps a few seminars to attend.
Step 5 Check the Web sites of the Society of Actuaries (soa.org), the Casualty Actuarial Society (casact.org) and the American Society of Pension Actuaries (aspa.org) for information on exams and the field.
Step 6 Take at least two exams before you graduate to increase your chances of entry-level employment in a tight job market. The first few exams do not require you to have an actuarial specialty.
Step 7 Apply for jobs as soon as you pass. Your first job will likely be a lengthy internship designed to familiarize you with various operations in an insurance company. This will afford you the opportunity to decide on a specialty, such as life, health, property and casualty, or financial planning and investment.
Step 8 Study regularly so that you can successfully complete the remaining exams and receive your professional status. Your aim is to pass the exams on schedule so that you will reach an actuary's associate (beginner) level within four to six years and a fellowship (professional) level a few years later.
http://www.ehow.com/how_14280_become-actuary.html?ref=fuel&utm_source=yahoo&utm_medium=ssp&utm_campaign=yssp_art
What skills are needed to be an actuary?
Specialized math knowledge
Calculus, statistics, probability
Keen analytical, project management, and problem solving skills
Good business sense
Finance, accounting, economics
Solid communication skills (oral and written)
Strong computer skills
word processing programs, spreadsheets, statistical analysis programs, database manipulation, programming languages
What talents are needed to be an actuary?
Self-motivation, Creativity, Independence, Ability to work with others, Ambition
In a nutshell, the abilities developed and honed by successful actuaries include an excellent business sense with a knowledge of finance, accounting, and economics, keen analytical, project management, and problem solving skills, specialized math knowledge, strong computer skills, and solid written and oral communication skills.
In addition, actuaries enjoy learning, like to solve complicated problems, enjoy writing and talking to people, can work effectively alone or as part of a team, are interested in a variety of historical, social, legislative, and political issues, and are self-motivated achievers.
lots more information here:
http://www.beanactuary.org/
After statistics:
Other workers whose jobs involve such skills include accountants and auditors, budget analysts, economists, market and survey researchers, financial analysts and personal financial advisors, insurance underwriters, mathematicians, and statisticians.
lots of good info here too:
http://stats.bls.gov/oco/ocos041.htm
Anonymous
On one hand I agree with you, but on the other hand the reality is that opportunities are not given to those in the inner cities or rural poor. And, to move out of those areas, it takes money. If they have no money to begin with, please share with us where the poor are going to get the money to get that education. On the other hand, why should being a CPA, actuarie or software engineer be the only career opportunities to make money or make a living? My god, I tried going for an accounting degree and worked in an accounting office of a corporation. I ended up quitting because I thought it was a form of hell here on earth. If I had to get a degree in that dull and boring subject matter just to make ends meet, I'd rather commit suicide as to work in a corporation doing that kind of dull work. Life isn't about how much money you make or making a living, life is about living a meaningful life. More money does not make your life more meaningful.