Actuary to Consulting
Hi. I'm considering actuarial science as a possible career path. Given this, is it possible, later on, to switch to management consulting at BCG, McK, Bain, or other consulting firms, provided that I perform well as an actuary?
no dude. toss actuarial science out the door. if it is your backup plan you will have a horrible time in the event you actually become an actuary. if really have to enjoy it, otherwise you will hate your life.
I know 2 people that decided to take their careers down an actuarial path. Both of whom went through a long dark period of depression and a mild case of over eating. As OMS said, only do it if you know it's what you want.
I once read somewhere that actuaries have the highest career satisfaction rate of lots of professions. However, I'm not sure if there's selection bias involved here, as in only those who are really committed and enjoy the work end up doing the job, thereby excluding those in the satisfaction rate of those who hated their job.
Aspiring actuary here. The actuarial market is extremely competitive right now, at least for entry level. It might get better later on. The travel time to fellowship at one of the societies really depends on your work and your ability. Some people can do it in 3 years, some people do it in 15. A lot of people never get past the associate level. The exams are hard and there are a lot of formulas to memorize. You have to really commit yourself if you want to take this path. Most actuaries are extremely smart people, but unless you're an actuarial consultant or C-level executive, you pay will pale in comparison to management consultants. Don't do it for the money. The amount of time required to study and obtain full fellowship just to transition into consulting is not worth it. It's much easier to just go into finance/consulting, get MBA, and then try to get into MBB.
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