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Majoring in Operations Research for Actuarial?

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Joined
9/19/15
Messages
100
Points
28
Hey guys,

I am a current college senior studying Math+Econ at a liberal arts college. I am pursuing the actuarial science. I am also pursuing the engineering program at Columbia University where I will obtain another B.S. degree in Operations Research (so I spend 4 years at my current college and additional 2 years at Columbia for dual bachelor degrees).

I am wondering if anyone is familiar with actuarial field. I have passed two actuarial exams (probability and financial mathematics). I am going to take the third actuarial exam (option pricing) in March.

It appears that many people pursuing the actuarial field major in actuarial science, mathematics, statistics or etc.

Question 1: Do you guys think that majoring in Operations Research is a bad idea if i wanna do actuarial?

Question 2: I am also kinda interested in finance (asset management in particular). do you think that having three actuarial exams is helpful if I wanna get asset maanagement internship?

Thank you very much.
 
u can major in women's study to be an actuary as long as u can pass the exams and proficient in ms excel. having passed actuarial exams generally wont help with other fields
 
Just out of interest... Columbia offers masters programs in Actuarial Science, Statistics, and OR, each of which can be completed in one year. I don't know what your arrangement is with Columbia, but why not spend a year less in school and come out with a masters degree instead of a second bachelors?

Otherwise, agreed with IntoDarkness that it doesn't really matter what you study as long as its generally quantitative and you are able to pass all the exams, and while having passed a few actuarial exams is a little stamp on the resume that says you are smart and can do some quantitative things, people in other fields won't put much weight on it. Having a degree from Columbia does get you job interviews/prospects that you might not have otherwise had via on-campus recruiting, depending on what school you're coming from, but you'd have to weigh that against the cost of the program. Otherwise it's not entirely clear to me why, after majoring in math and econ, you'd need another degree in OR or whatever else to become an actuary.
 
financeguy said:
Just out of interest... Columbia offers masters programs in Actuarial Science, Statistics, and OR, each of which can be completed in one year. I don't know what your arrangement is with Columbia, but why not spend a year less in school and come out with a masters degree instead of a second bachelors?

Otherwise, agreed with IntoDarkness that it doesn't really matter what you study as long as its generally quantitative and you are able to pass all the exams, and while having passed a few actuarial exams is a little stamp on the resume that says you are smart and can do some quantitative things, people in other fields won't put much weight on it. Having a degree from Columbia does get you job interviews/prospects that you might not have otherwise had via on-campus recruiting, depending on what school you're coming from, but you'd have to weigh that against the cost of the program. Otherwise it's not entirely clear to me why, after majoring in math and econ, you'd need another degree in OR or whatever else to become an actuary.
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Thanks for your reply. I am of course aware that there are masters programs for actuarial science, statistics, OR, etc. The reason why I am applying for the bachelor's program is subtly obvious: money. Financial aid package for masters program, from what I heard, is almost nonexistence.

I think that one year tuition for masters program is much greater than my parents income. I can't simply afford it. I can get student loans but then that would make my total loan about like $150,000 by the time I graduate from the masters program.

On the other hand, I heard that columbia is very generous regarding their financial aid package for bachelors students, even for those in the combined engineering plan program.
 
Yep if they've given you money for the second bachelors that's fair enough. It sounds like they haven't given it to you yet though? Why not skip the second bachelors altogether and just go to work?
 
financeguy said:
Yep if they've given you money for the second bachelors that's fair enough. It sounds like they haven't given it to you yet though? Why not skip the second bachelors altogether and just go to work?
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I will get the financial aid package later. I kinda wanna work in nyc doing actuarial work after graduation. I think that the second bachelor's degree will give me another chance for actuarial internships in nyc (i will have three actuarial exams passed at that time). also, columbia prestige.
 
I think Columbia is great. I went there. But two years is a long time to be spending on a second bachelors in which you're probably not genuinely learning a whole lot more than you learned in your first four years. You'll be missing out on 2 years of income and getting closer to a less junior role. You're a senior now, so you have a recruiting season for full time jobs right in front of you. I would try to land something right now rather than two years of Columbia undergrad, even if it ends up being free. If you strike out then you can have Columbia as your back up.
 
Hi guys, i am not sure that my question is related to the topic but if you could help me that would be great.
I am looking for online certificate courses in operations research. Have you any idea of a good online program? I am willing to pay but not a large amount.
 
Lia said:
Pavlos thanks a lot for your answer.
Coursera was the first site that i looked for but unfortunately it doesn't provide anything good as far as operations research concerns. Do you have anything else on your mind?
(by the way, are you Greek?)
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With a brief google search I found this:
Open Courses on Operations Research - OR Complete
There are video lectures, notes and exam solutions in each of the section. However this is not a certificate. You might want to search online a bit more, but if you need it for your resume, you can always self-study it, include it, and then demonstrate knowledge if needed. I believe people will appreciate the discipline that is required to self-study and excel a subject like OR. :)
Yes, I am Greek.
 
Pavlos Sakoglou said:
With a brief google search I found this:
Open Courses on Operations Research - OR Complete
There are video lectures, notes and exam solutions in each of the section. However this is not a certificate. You might want to search online a bit more, but if you need it for your resume, you can always self-study it, include it, and then demonstrate knowledge if needed. I believe people will appreciate the discipline that is required to self-study and excel a subject like OR. :)
Yes, I am Greek.
Click to expand...
I am a Greek too :)
I totally agree with you, i love self teaching and the site that you sent me seems really interesting and helpful as well.
 
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