Actuary Vs. CFA: Unveiling My Personal Experience

V Life Journal: Actuary, Tech, Career & Well-being

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Explore my journey from being an actuary to pursuing the CFA. Discover the comparisons, challenges, and insights between the two professional paths. Whether you're an actuarial student or a CFA candidate, this video sheds light on making the right career choice.
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In this video, I'll compare my experience with both exams and explain why I pursued the CFA as an actuary. I'll also cover some differences between the two exams and advise on how to prepare for them.
✅Timestamp
00:00 Intro
00:45 Warning
00:50 Which qualifications should you pursue? CFA vs. Actuary
01:29 Why did I take CFA exams after my actuarial qualification
03:50 Where do actuaries with CFA work in insurance companies
04:37 Why I Choose to Become an Actuary instead of a finance path
06:19 My experiences with CFA and actuarial exams
09:38 CFA vs. Actuary qualifications
13:26 Is CFA useful for actuaries?
15:15 Exam support for CFA exams for actuaries
✅For a full playlist on this topic, check out: • Actuary Vs. CFA: Unvei... .
Part 1: CFA vs. Actuarial Exams | Getting CFA as an Actuary | My personal experience
Part 2: 10 Study Tips for Professional Exams | How I Passed CFA and Actuarial FSA-level Exams on the first try
Part 3: Q&A | How I Studied for CFA and Actuary FSA Exams | How to Improve Math | My mini-rant
☕ Enjoy my content? Treat me to a coffee or join my membership at www.buymeacoffee.com/VLifeJou...
Video Title: Actuary Vs. CFA: Unveiling My Personal Experience | VLifeJournal.com
This video is about Actuary Vs. CFA: Unveiling My Personal Experience. But It also covers the following topics:
Actuarial Exams
CFA Journey
Actuary Career
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✅ About V Life Journal: Actuary, Career & Well-being.
Hi, I'm Vy, a purpose-driven actuary, a lifelong learner (BMath, BBA, FSA, FCIA, CERA, MBA, CFA, and more!), and a multi-passionate creativepreneur.
I'm dedicated to building a fulfilling and well-rounded career and life, and I'm excited to share my journey with you. Join me as we explore:
‣ The journey to becoming a versatile actuary and leader
‣ Exclusive insights and career advice from industry professionals
‣ Career planning in actuarial science, data science, computer science, and math/business fields
‣ Effective productivity hacks and learning strategies
‣ My gratitude-filled everyday life
Hit that subscribe button for monthly videos and embark on this exciting journey with me! Together, we'll learn to be smart, work-wise, and live balanced. Thanks for stopping by V Life Journal: Actuary, Career & Well-being!
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📩 Email: VyLifeJournal@gmail.com
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Subscribe to V Life Journal now: t.ly/XacNC.
======================
#actuary #cfa #careerpath #actuarialexams #cfajourney
Disclaimer: We do not accept any liability for any loss or damage incurred from you acting or not acting as a result of watching any of my publications. You acknowledge that you use the information I provide at your own risk. Do your research.
Copyright Notice: This video and my RU-vid channel contain dialog, music, and images that are the property of V Life Journal: Actuary, Career & Well-being. You are authorized to share the video link and channel and embed this video in your website or others as long as a link back to my RU-vid Channel is provided.
© V Life Journal: Actuary, Career & Well-being

Опубликовано:

26 июл 2024

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Комментарии : 41

@VLifeJournal 3 года назад

For full playlist on CFA vs Actuary topic, check out: bit.ly/3sWodcT

@nadhirahazizi1046 2 года назад

the most helpful video, comparing CFA and SOA, I've been thinking either to do it both at the same time or just focus one at a time. finally, I understand the root of CFA n SOA. thanks for the video!!!

@VLifeJournal 2 года назад

Glad it is helpful :)

@shalawells3549 2 года назад

Thanks for sharing💗 Very helpful

@VLifeJournal 2 года назад

Glad it helps!

@fififinance7469 3 года назад

Top notch! 😍

@VLifeJournal 3 года назад

Thank you!

@CareerChatswithLaura 3 года назад

Thanks for sharing your experiences Vy! The actuarial exam series is much longer than CFA and the bar is higher. The number of designation holders you quoted aligns with that.

@VLifeJournal 3 года назад

Definitely. Although they are both much less compared to the number of other professionals like accountants (over 850k CPAs in US and Canada)!

@justinwr092 3 года назад

I have a question if you don't mind sharing your thoughts. I'm currently working through the preliminary SOA exams (interested in the CERA designation) but will transition to my real estate interests full-time eventually, as well as helping with the finances of my wife's medical practice. I was wondering if you think the actuarial exams will help at all with those activities, or is it overkill (or too focused on insurance)? I find the material really fascinating anyway. I do plan on doing more complex things in real estate at some point (commercial real estate syndication and/or development). I wonder if the ERM track might help.

@VLifeJournal 3 года назад

Personally, I think it overkills; as you said it's too focused on insurance and it's not widely recognized outside of the insurance/financial industry (and outside of corporate world) and also there will be more continuing development you need to keep up to keep your actuarial qualification. If I'm in your case, I would pursue a MBA instead, perhaps choosing a school/program with specialization in real estate / finance work with access to alumni that in this field. MBA is more widely recognized (your clients most likely will know MBA and not actuarial designation) and you still can take advanced courses in finance/risk that are less math/quantitative than actuarial exams (and less effort/pressure in studying). I have a photography business myself and even though it doesn't have to do much with numbers and such like your future business, at the end of the day, it's still about running a business and I think general management / business education is more useful. On the other hand, if you still like to do exams and maybe you are only 1-2 requirements away from complete and you find it "fun" / satisfying for your own development, I don't see why not, the main thing is to prioritize your effort / energy on things that can add the most value to help you achieve your goals and can always do other things afterwards. Hope that helps.

@justinwr092 3 года назад

@@VLifeJournal thank you so much!

@dalpang2 7 месяцев назад

Hi, thank you for this informative video! It helped me a lot to compare those exams. Personally, I am considering to follow a Dutch certified actuary track, and I wonder how European Actuary is recognized in other countries. Could I still work as an actuarial consultant/actuary there?

@VLifeJournal 7 месяцев назад

I am not familiar with Dutch actuarial path so I can’t really comment about it specifically. In general, the popular global actuarial organizations are SOA and CAS. Then each country may have their own organization which leverage education system from SOA or CAS (eg CIA in Canada or MAA in US) or have their own education system (eg FIA in UK). You will need to do your research on what recognition agreements there are between the one in Dutch and other organizations, eg CIA accept SOA, CAS as well as FIA. Hope that helps.

@ps5467 3 года назад

Hi. Would you be able to make a video to explain why you did a mba on top of your fellowship? Can you point the pros and cons? And in what circumstances would you recommend someone to do a mba if they already get their fellowship. I am a FCAS working in Toronto. I would also like to know why you choose to do a mba online instead of a mba based in toronto. Toronto mba is quite good based on the QS rating. Thanks

@VLifeJournal 3 года назад

Definitely, it's actually already in my schedule to have a video on MBA and whether one should do it so please stay tuned :) I will make sure to address your question in the video. Thanks for the question!

@ps5467 3 года назад

Thanks V. Looking forward to it. Also, would you also elaborate what MBA brings you in the work related other than your personal achievement?

@phuhuynh8516 3 года назад

Hi Vi, I am a graduated bachelor in Financial Mathematics. I just passed the Exam P yesterday. My plan is to take FM in June. I always got rejections when it comes to applying for jobs. Could you do a video on finding actuarial jobs in Canada? Thanks in advance.

@VLifeJournal 3 года назад

Congratulations on passing P and welcome to my channel! I recommend you to check out this playlist for advice on how to get an actuarial job in Canada. If you have more questions, feel free to let me know in the comments section. Enjoy :)

@VLifeJournal 3 года назад

Oops forgot to include the link: ru-vid.com/group/PLfxoWBfGcbbsQzHCDFESsen6m4G9QFk-e

@phuhuynh8516 3 года назад

@@VLifeJournal thanks alot Vi. Also, tên em là Phú ạ. Rất vui được biết đến kênh của c!

@muskaanrai650 2 года назад

Hi, I'm currently confused between continuing pursuing an Actuarial career, as recently I got banned by IFOA for petty reasons, and now I'm stuck. As I'm already in my last year of undergraduate. So I was thinking of going for CFA and then go directly for masters in actuarial sciene, where I can get exemptions and clear the papers sooner. Will this be the right route?

@VLifeJournal 2 года назад

Personally I don’t think taking CFA exams is helpful at the beginning of actuarial career path. To break into the actuarial field, you want to be hired for internship or entry-level jobs first and having CFA is not a requirement or necessarily value-add. It may only be helpful if you can get a financial analyst job which then you can leverage to get an actuarial job later on since there are many similar soft skills needed for both fields. At the end of the day, to get an actuarial jobs you want to be a competitive candidate; having 1-2 actuarial exams passed + relevant experiences which you can gain from volunteering, extra curricular activities, other jobs + good communication / interview skills. Going for a Master may give you more time to build networks, volunteer etc then it can work. What I am trying to say is simply getting papers cleared won’t get you a job; you need other skillsets. I talked about advices for students in this q&a video ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-WLswq3fqeXU.html

@sotopopinski1816 2 года назад

What are the pros and cons of taking not only one track of FSA exams, say the QFI track, and obtaining the FSA credential, but also additionally taking the Retirement exams AND the ILA exams? What kind of jobs would be available to an actuary who has taken say all of the ILA exams, Retirement exams, and all of the QFI exams? Is there any additional value to this from an employer's perspective? Would there be any role that it might be beneficial -- say, Chief Actuary or something else?

@VLifeJournal 2 года назад

I would say additional value from tracking 2 tracks is little to none. I have not seen any postings or interviews that ask about the track. It can be a bonus when you say “i did erm track and passionate about erm and that’s why im applying to erm”. But you don’t get a “penalty” when you do other tracks. All actuaries are “equal” essentially. There may be benefit if you have both FCAS and FSA as it can open to opportunities in both Life and P&C. But at the end of the day, experiences/skills are what matters. If you are a fully qualified actuary, you already show that you have ability to learn. You can see our discussion here on this topic ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-C3jUUVTxLp8.html

@moeduk2621 3 года назад

Thank you Vy, So does that mean that CFA is considered more valuable than the actuarial becaus it is easier to get cfa after actuarial, not vice versa?

@VLifeJournal 3 года назад

Did you mean more or less valuable? Either way I don’t think we can conclude one is more valuable than the other or not since the designations are useful for different roles. But if you want to become an actuary, you do need to be credited through an actuarial organization and get qualified - having a CFA afterwards are just added bonus for certain actuarial roles but not a must.

@sureshbellam Год назад

Hi , I have worked for 10 years as a librarian, which one is better course for me to change my career, do u think passing CFA or Actuaries help after these many years in irrelevant field?

@VLifeJournal Год назад

I don’t think one is better than the other in this case. Passing exam won’t help getting a job either - usually passing the first exam of either path just shows the recruiter that you are serious for that career; then it’s about your transferable skills and knowledge that you need to demonstrate in your application / interview that you can do the job and you are a good fit.

@ChewingGumEntertainment 3 года назад

Madam, can we prepare for both actuarial science and Cfa together and can clear..

@VLifeJournal 3 года назад

It can be done but personally I would only focus on one at a time. If your main goal is to become an actuary then focusing on actuarial exams is priority and likewise for cfa if your main goal is to work in finance/investment etc.

@charlesmakonikudzay1 2 года назад

Are you on linked in?

@VLifeJournal 2 года назад

Yes I am on linkedin

@charlesmakonikudzay1 2 года назад

@@VLifeJournal i am kindly requesting your name on linkedIn

@VLifeJournal 2 года назад

You can find me here: www.linkedin.com/in/ngocvyle

@charlesmakonikudzay1 2 года назад

@@VLifeJournal Thank you. I have sent you a request

@HardeepSingh-iz8kp 3 года назад

Please don't get me wrong, but next time before uploading a video please see if it is audible,ask your freinds to listen to it so as to have an honest review on video and audio quality.

@VLifeJournal 3 года назад

Thanks for the feedback. Would you like to sign up to be one of the volunteers for that?

@HardeepSingh-iz8kp 3 года назад

@@VLifeJournal 😂😂

@HardeepSingh-iz8kp 3 года назад

@@VLifeJournal yes absolutely.

@VLifeJournal 3 года назад

@@HardeepSingh-iz8kp great! Please sign up here forms.gle/nJGehFnkB88z34me8 Thanks!