College Major?

Anything to do with the traditional world of get a degree, get a job as well as its alternatives
daylen
Posts: 2518
Joined: Wed Dec 16, 2015 4:17 am
Location: Lawrence, KS

Re: College Major?

Post by daylen »

I think the compensation actuaries recieve has a lot to due to the following four factors:
1. There is a significant amount of independence and this requires time management skills.
2. Requires ability to communicate at boundary between math/computers and business.
3. Exam process is considered lengthy and difficult.
4. The profession is small so the public lacks awareness.

Be prepared to move to north-eastern US or Chicago if you choose that route.

CS
Posts: 709
Joined: Sat Dec 29, 2012 10:24 pm

Re: College Major?

Post by CS »

Don't know how much of an outliner this is but a friend's sister did actuarial and was able to get a cool job in London. Now back in the states I think she makes somewhere about half a million a year. I had no idea it was so lucrative. Or in such high demand.

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Jean
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Joined: Fri Dec 13, 2013 8:49 am
Location: Switzterland

Re: College Major?

Post by Jean »

Being able to code and an engineering degree won't garantee you a job.

Scott 2
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Joined: Sun Feb 12, 2012 10:34 pm

Re: College Major?

Post by Scott 2 »

CS wrote:
Tue Nov 20, 2018 6:42 am
a friend's sister did actuarial and was able to get a cool job in London. Now back in the states I think she makes somewhere about half a million a year
This is exceptional pay, even for an actuary.


It occurs to me OP may not know about the Occupational Outlook Handbook. It's a neat tool for exploring this stuff:

https://www.bls.gov/ooh/math/actuaries.htm

Optimal_Solution
Posts: 57
Joined: Tue May 07, 2013 4:56 pm

Re: College Major?

Post by Optimal_Solution »

Health care - don't know much about the field but it seems to have the best balance between high pay and low stress ex. nurse
Really? I thought nurses generally had stressful jobs. I imagine them running around changing bedpans, doing paperwork, and seeing people at their worst. For doctors, medical school sounds like my version of a nightmare. My doctor friends my age are just now starting their lucrative careers (often with debt) while I'm almost FIRE. Opportunity costs are real.

I'm a skilled programmer, and my job is cushy. I would recommend it to anyone with the interest and aptitude. In my case I have good pay, interesting problems to work on, flexible hours, and low stress. On the other hand, I don't find much meaning in my work and look forward to my freedom after I'm done building my stash.

Optimal_Solution
Posts: 57
Joined: Tue May 07, 2013 4:56 pm

Re: College Major?

Post by Optimal_Solution »

Jean wrote:
Tue Nov 20, 2018 7:25 am
Being able to code and an engineering degree won't garantee you a job.
Agreed. Nothing is guaranteed, you are playing the odds.

Remember that communicating well, working hard, and good social skills are going to help you hugely in any job. Trying to get hired or promoted is an uphill battle without these skills.

EdithKeeler
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Joined: Sun Sep 01, 2013 7:55 pm

Re: College Major?

Post by EdithKeeler »

Actuary is a good field, high paying, and not nearly as boring as it sounds. It actually can be pretty high-stress. I have a good friend who's an actuary, and it's worked out well for her.

If I had your interests and skill set at your age, I'd be looking at a career in robotics. I, personally, think there is a very good future in robot assistants for elderly and handicapped people. With fewer and fewer immigrants, etc. willing to do low wage, low status work (and unfortunately, that includes taking care of old people....), we are going to need more and more technology to 1) help people stay in their homes longer (ie, help with cooking, cleaning, shopping, etc) and 2) deal with the scut work of hospitals (washing people, changing beds, cleaning rooms, disposing of bedpans, etc).

shadow
Posts: 54
Joined: Sun Aug 19, 2018 1:18 pm

Re: College Major?

Post by shadow »

@jacob
Well, looks like accounting is out

@daylen
daylen wrote:
Tue Nov 20, 2018 12:30 am
Be prepared to move to north-eastern US or Chicago if you choose that route.
Was this exaggerated at all? Or are there really no jobs outside of those areas?

@Scott
I have looked at the BLS page for specific jobs before but never actually used the search function, thanks :D

@Optimal
After looking into it more for a few days it seems you are correct ... I really underestimated the stress of the job

daylen
Posts: 2518
Joined: Wed Dec 16, 2015 4:17 am
Location: Lawrence, KS

Re: College Major?

Post by daylen »

Not far from the truth. Search on indeed or something to get an idea for how jobs are dispersed. Spend some time on bls.gov

SavingWithBabies
Posts: 882
Joined: Mon Aug 31, 2015 2:50 pm
Location: Midwest, USA

Re: College Major?

Post by SavingWithBabies »

A friend of a friend moved to Hawaii for an actuary job. I think it was on O'Hau (probably in Honolulu). I don't know how many actuaries are employed there.

shadow
Posts: 54
Joined: Sun Aug 19, 2018 1:18 pm

Re: College Major?

Post by shadow »

@daylen
I was just looking at the BLS page and it looks like you weren't far off...
https://www.bls.gov/oes/current/oes152011.htm#st
A good amount of jobs in the Midwest as well though

@SWB
That's reassuring -- there's a good chance of at least some employment in an area I would like

thegreatvoid

Re: College Major?

Post by thegreatvoid »

So I´m dealing with a bit of a dilemma.
I absolutley hate my job, but in our highly specialized world it would take me a least 3 years of education to qualify for a higher paying job, which probaly would only net me 500-1000 euros more a month after tax.
I haven´t quit figuered out my ERE number, but I am absolutley certain that I have more than half the amount I need, so the question is , if it´s worth it to get a higher education.

Besides feeling burned out, I´m also not passionate about any career. I don´t dream at night about being a doctor, saving people´s life ,
or like the girl I had tea with on saturday, reading a novel , just because it has some exiting math in it. i don't ́t have wet dreams about physics, statistics, maths...

For me it would just be another job.

none of my interest, have the potential to make me any money. it´s just very unrealistic

Any thoughts ?

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fiby41
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Location: India
Contact:

Re: College Major?

Post by fiby41 »

Also see, Is "follow your passion" the right advice to give people starting out?

viewtopic.php?t=7092

thegreatvoid

Re: College Major?

Post by thegreatvoid »

follow your passion: what if I´m not passionated about anything

do what you are good at: what if I´m not really great at anything....

BRUTE
Posts: 3797
Joined: Sat Dec 26, 2015 5:20 pm

Re: College Major?

Post by BRUTE »

how about a cheap 3-12 month vacation to help against the burnout, then back for another stint in the boring career until FIRE?

thegreatvoid

Re: College Major?

Post by thegreatvoid »

@Brute that´s what I´m considering
just wrote about it in the other tread viewtopic.php?f=9&t=10282

Although I´m afraid I would just stay in Brazil ( my 3rd home country , the place I would most likely take a vacation in ) and never come back.

classical_Liberal
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Joined: Sun Mar 20, 2016 6:05 am

Re: College Major?

Post by classical_Liberal »

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Last edited by classical_Liberal on Fri Feb 05, 2021 1:58 am, edited 1 time in total.

classical_Liberal
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Re: College Major?

Post by classical_Liberal »

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Last edited by classical_Liberal on Fri Feb 05, 2021 1:57 am, edited 1 time in total.

shadow
Posts: 54
Joined: Sun Aug 19, 2018 1:18 pm

Re: College Major?

Post by shadow »

@classical_Liberal
Actually, reading your journal was what turned me away from the career :lol: ... I don’t think I am the type to be able to handle a 12 hour shift like that (or 8 or 6 for that matter)

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