Hey Aleks! I feel for you, failing an exam is the worst. But failing an exam is just part of the learning process! You've got this for next time! :D Check out this video for some extra motivation: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-Fh0NOw0D_4o.html
Great video. About 15 years ago I was interested in this field. Even stayed an extra 1/2 year in college getting a minor in Statistics as I thought it would give me some foundation for it and the first exam. I wound up failing the first exam twice. Can I have put more time into studying? Probably. But at the same time as what you mentioned you could pass the 1st exam and still not find a job. I think that really sort of dissuaded me more from this career than anything. That and having even less a social life as what I do now. While I don't regret that choice I still do like seeing videos like this or reading up on what goes on in that profession. Perhaps in an ideal world that'd be more dream job. lol
I would also add that many aspiring actuaries quit after comparing their salaries to those in SWE or DS, thinking that all the effort put into the actuarial exams isn’t as rewarding as if they were to put it into a master’s in SWE or DS.
This is a really good point, Joe! Actuaries are well paid, but if you're looking exclusively for financial benefits, the actuarial career is probably not the way to go. You've got to really love the work, too!
Hi Jack! It all depends on the requirements at the school you want to attend. The requirements can differ by program, so I'd check with your program of choice to be sure :)
Do you not have to pay each time you attempt the exam? I'm hoping not, or I may not be able to peruse my dream career simply due to my financial constraints :(
Unfortunately, yes - but once you get your first actuarial job (usually after your second or third exam), your employer will cover the cost of the exam and your study materials. That makes it much more affordable. The SOA also offers scholarships and financial support. I'd check out their website to see if you qualify! Wishing you luck!
