Math=business

[Finneen]

Ok so i am still in school.I am in those years that you have to decide what you want to be when you grow up and what career to study. Well i am not sure exactly what career i want to take. I am VERY Interesting in having a career/job that consists in Math. I like Math and i understand it at its fullest. I want to work in a business. I want to have a very important job like for example counting and administrating the money. So my question is what career fits me in the Business indistry.

ANSWER: Being an actuary is theoretically very business related and it is also very math related.

Check this out and let me know what you think :)http://www.beanactuary.org/about/whatis.cfm

---------- FOLLOW-UP ----------

OK so i already read all the info. about actuary. I am looking for a job/career that i can get GOOD money from at least $85,000 a year. I don't really understand what actuary is about. I know it involves math and business but i was looking forward to having a job that i can administrate all the money or the business stocks like a vice-president of a big(I mean BIG!)business. Could you help me please?:]

ANSWER: Being high up in a big company is extremely rare and it takes a really long time.  You will probably have to spend your first 30 years working extremely hard and long hours doing a job you hate.  You typically start out in accounting, work up to controller, and there on up.

Being an actuary includes passing a series of exams and your salary increases from there on up.  First starting, you make around $45,000, not counting bonuses and benefits.  Once you pass all the exams, the average salary is over $150,000.

Here is some more information for you:

As with many business positions, actuaries need a strong background in mathematics and general business. Applicants for beginning actuarial jobs usually have a bachelor’s degree in mathematics, actuarial science, statistics, or a business-related discipline, such as economics, finance, or accounting. About 100 colleges and universities offer an actuarial science program, and most colleges and universities offer a degree in mathematics or statistics. Some companies hire applicants without specifying a major, provided that the applicant has a working knowledge of mathematics, including calculus, probability, and statistics, and has demonstrated this ability by passing one or two actuarial exams required for professional designation. Courses in economics, accounting, finance, and insurance also are useful. Companies increasingly prefer well-rounded individuals who, in addition to a strong technical background, have some training in liberal arts and business, and possess strong communication skills. In addition to knowledge of mathematics, computer skills are becoming increasingly important. Actuaries should be able to develop and use spreadsheets and databases, as well as standard statistical analysis software. Knowledge of computer programming languages, such as Visual Basic, also is useful. Two professional societies sponsor programs leading to full professional status in their specialty. The first, the Society of Actuaries(SOA), administers a series of actuarial examinations for the life and health insurance, pension, and finance and investment fields. The Casualty Actuarial Society(CAS), on the other hand, gives a series of examinations for the property and casualty field, which includes fire, accident, medical malpractice; workers compensation; and personal injury liability. Actuaries perform complex mathematical analysis that assists organizations in making important operational decisions.

Actuaries are essential employees because they determine future risk, make price decisions, and formulate investment strategies. Some actuaries also design insurance, financial, and pension plans and ensure that these plans are maintained on a sound financial basis. Most actuaries specialize in life and health or property and casualty insurance; others work primarily in finance or employee benefits. Some use a broad knowledge of business and mathematics in investment, risk classification, or pension planning. Regardless of specialty, actuaries assemble and analyze data to estimate probabilities of an event taking place, such as death, sickness, injury, disability, or property loss. They also address financial  questions, including those involving the level of pension contributions required to produce a certain retirement income level or how a company should invest resources to maximize return on investment in light of potential risk. Moreover, actuaries may help determine company policy and sometimes explain complex technical matters to company executives, government officials, shareholders, policyholders, or the public in general. They may testify before public agencies on proposed legislation affecting their businesses or explain changes in contract provisions to customers. They also may help companies develop plans to enter new lines of business or new geographic markets with existing lines of business by forecasting demand in competitive settings.

I just thought this sounded like the perfect career for your interests.  Let me know what you think.

---------- FOLLOW-UP ----------

Well thank you for telling me that. Ok i guessed that if you wanted to be in a high postion job you didn't have to study that much. But i was wrong. So i can scratch that idea out. Ok so i am just going to make it simple::I want to earn GOOD money. I don't want to go to college more than 3 years! I am not very good at science i am an average level. I am extra good in Math i am one year advance in math in school. I don't like reading that much but if its necessary ill do it. I live in NC but i dont want to leave far from my home town. I am using this page to help me but its confusing me more its http://www1.cfnc.org/Career_Center/CFNC_Bridges_Tools/_default.aspx

Any ideas?

[Dee]

You don't have to be good at science to be an actuary.  Without doing science, either being an actuary or getting a dual degree in accounting/finance are your best shots at a high salary.  Most other high paying jobs are either far too hard to get or involve science.

It will be extremely hard to pull off a 4 year degree in 3 years.  You would need to get some AP credit and go to school in the summers too with a full course load year round.  A lot of jobs like to see students with a full 4 years in college because they believe it takes that long to fully develop into an adult and be mature enough to enter the work world.  Any particular reason why you want to cram a 4 year degree into 3 years(besides it costing less).

I think being an actuary sounds like a great career for you.  I would recommend getting a degree in accounting and taking some electives in statistics, calculus, economics, and finance.  You will have a lot of career options going that way, all which have the ability to get you a great job with a great salary.  This major and the jobs it gives you also gives you the best shot at being high up in a big company, but keep in mind that most these people have masters and/or PhD degrees as well.