A lot of people have been asking what is the difference between Quants and Actuaries. Some have tried claiming one is nested inside of the other curriculum however this is wrong. In simple terms, quants are very focused in derivatives, financial risk management, and statistical arbitrage with heavy focus on programming as well. They require a minimum of a Masters (1-2 yrs) but prefer a PhD (5-7 yrs). Actuaries specialize in the insurance, pension, and health care industry with a broad range of topics covered including statistics, probability, finance, economics, and financial mathematics.
It is very hard to jump from one (quant or actuary) to the other. Actuaries require exams which prevent quants from entering their industry. Quants require a Masters or PhD and prefer specific majors over others which prevents actuaries from entering the quant realm. Yes, there are people who go from one to the other but it is not very common due to the barriers.
Compensation is similar given experience and education (see link below).
How Many Actuary Exams:
etchedactuarial.com/how-many-actuarial-exams/
SOA Requirements:
www.soa.org/Education/Exam-Req/edu-asa-req.aspx
CAS Requirements:
www.casact.org/admissions/process/
Chartered Enterprise Risk Analyst - CERA (SOA):
www.soa.org/education/exam-req/edu-cera-req.aspx
Financial Mathematics Exams Details:
www.soa.org/education/exam-req/edu-exam-fm-detail.aspx
Actuary Compensation:
www.dwsimpson.com/actuary-salary-by-state
SUPPORT THE CHANNEL
Quant t-shirts, mugs, and hoodies:
teespring.com/stores/fancy-quant
Connect with me:
www.linkedin.com/in/dimitri-b...
DimitriBianco
☕ Show Your Support and Buy Me a Coffee ☕
ko-fi.com/fancyquant
30 сен 2018