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Differences between an acturial science person VS CFA's

Posted on 2006-04-26
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Last Modified: 2008-01-09
Hi, my wife is trying to make up her mind which kind of work to get into . Her educational back ground allows her to try out either acturial sciences or CFA as a career path .

WHat are the significant differences bwteen these 2 paths
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Question by:deersuper
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lyonst earned 195 total points
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by:sysandprog
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Use these two search terms with Google (no quotes):

CFA  actuary

Briefly:

An actuary is fully qualified after passing a number of specialized exams that have been known to produce nervous breakdowns.  In other words - they are difficult.

An actuary would most often be involved in setting premium rates for insurance companies.

On the other hand, a CFA (Certified Financial Analyst)  would be more likely to have one-on-one contact with individual clients, in order to guide their personal or business financial interests.

Both fields would require a mathematical background, but an actuary would need to be deeper into higher mathematics.

I worked with a man once who had actuarial responsibilities, but called himself a "ribbon clerk".  He had no college background.  He was my "point man" in converting a history data system from one computer to another.  I was far better at analysis than he was.  At that company, junior actuaries were brought in at salaries far below those we have come to expect for high power actuaries.

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