Backoffice

not totally related, but im considering working as an actuary for a few years before applying to a top10 mba, then moving onto an associate role in a BB.

I am hoping that the valuation and modeling experience will help me get into a solid program. Also, passing actuarial examinations shows a solid quantitative foundation.

I'd like to hear some opinions on this.

Actuary, are you going to work for an insurance company?

hey de0cy:

a former coworker at my firm worked as an actuary for 5 years before he went to HBS. Then he went to BB Associate --> PE. from what i heard, the actuary exams are very grueling and made the CFA/Series 7/GMAT seem really easy, and very much prepared him for banking/finance. People who know what actuaries seemed to have a lot of respect for his quant skills and discipline in passing those exams. At HBS though, he seemed to have an atraditional working experience compared to everyone else. dunno if this helps but this is what i heard from him.

Anybody got an answer to my questions?

I think that the banks like to keep who they already have. I have seen people come out of operations and through an MBA make it right back to the same bank they used to work at but at the associate level. One of the biggest questions employeers have when they recruit is about the lifestyle and if people know what they are getting into. They will not really question that.

Going from MM to BB you will have to just prove yourself during the fall of your 1st year MBA. I think you will have it the same as most career changers. It is very possible in a strong market.

Also going from actuary to IB can be done but you will probably have to answer the question why not S&T. I have seen people go from English teacher to IB Associate with an MBA so as an actuary you should be able to do it.

how much do they make at the BB's vs. MM. Whats the most you could possibly make at the MD level at the BB vs. MM?

bump

sorry mssales, I didnt mean to hijack your thread!

I could totally see myself doing something like HF. I am not too keen on what exactly S&T is, specifically what their typical job roles are, but I guess I should look into it.

I have passed the first exam, and I am taking the second one in may, then I will probably work for an insurance company of small consulting gig for a while. I am a senior at a state school at the moment, and I have never worked as an actuary.

I was most curious if in fact actuaries end up going to top MBA programs and where they end up afterwards... the problem I see with the actuarial profession is that it will have me wanting more responsiblity and personality within the company. I dont want to be a back office number cruncher my whole, but I could see myself doing it for a few years as a vessel for bigger things in IB, HF, PE etc.

to the top.