Perspective From a Career Changer
Despite being an actuary, I first heard of the profession when I was 21 years old. Growing up, I was set on pursuing a vastly different path. I had wanted to study politics to become a diplomat. I majored in international relations and minored in Mandarin. Sure, my best subjects in school were mathematics and science, but I chose passion over comfort. As it turns out, chasing my interests brought me full circle, back to the world of mathematics. And my story starts in an unlikely, abrupt, and impulsive way.
At some point in college, I watched Catch Me If You Can for the first time. I distinctly remember a scene where Leonardo DiCaprio’s character passed the bar to become a certified lawyer by studying for eight weeks straight, despite having never had a legal background. For some reason, this likely fictional moment inspired in me a chaotic desire to needlessly challenge myself. After thinking for about 10 minutes, I settled on taking an actuarial exam and gave myself about six weeks to study. After hours of grinding through practice problems — with a lot of luck sprinkled in — I passed the exam. It never occured to me during this process that I would ever become an actuary, but the positive result did prompt me to read more about the profession. At best, it had seemed like a promising alternative career path.
Perhaps spurred by my self-studying, my affinity for mathematics started coming back to me. I was still in the mindset that I would work in the public sector, as I continued my international relations studies through a graduate program. However, I began actively seeking more quantitative courses to fulfill my degree requirements. I realized that I enjoyed the quantitative classes more than the regular political ones. When it came time to apply for summer internships, I was advised to cast a wide net and remain open minded about my options.
I had a family friend who is an actuary and who was very enthusiastic to share her experiences with me. She generously connected me with two of her peers, who each connected me with two more peers of their own. With that slew of timely conversations right before the summer internship recruitment season, I gained a deeper understanding of what the actuarial profession entailed beyond the job description. Of course, I visualized challenging myself in what seemed to be a fulfilling career. But I also considered the promise of a better work-life balance against the harsher realities I saw among many of my overworked peers in other industries. Also, the kindness of the people in my new network had not been lost on me. I felt my mindset shifting from “why become an actuary?” to “why not become an actuary?” After I got my internship offer, I knew my career path had officially pivoted. I was going to be an actuary.
Having spent the past couple of years on my new career trajectory, I can say that this was absolutely the right decision for me. These are the takeaways I have learned:
The actuarial profession is inviting to a variety of skill sets.
On a high level, actuaries seek to model and understand risk. On an individual basis, however, our roles vary from person to person. The diversity of available roles lends itself well to many types of successful actuaries. If you are a wizard at coding, love working with data, have a natural business knack, or enjoy speaking to different audiences, the actuarial career is accommodating to many different strengths. As someone who had previously taught English to elementary school students in Taiwan, I was unsure how my professional experience would translate to the actuarial field. In that role, however, I learned how to vary my communication to different audiences, speaking with kids of all different ages and different English abilities and co-teachers with unique teaching styles. With the benefit of hindsight, this experience furthered my verbal communication skills and has, in turn, made me a better actuary.
There is never a bad time to network.
Whether you are breaking into the industry or are a seasoned veteran, the actuarial community is ripe with brilliant minds. Networking is an excellent tool for a variety of reasons. Speaking with others is a great way to solicit advice and learn from others. It can also provide opportunities to learn about the vast array of jobs available within the actuarial profession. Furthermore, it can foster strengthened collaboration and increase one’s resourcefulness.
Actuarial careers are fulfilling, relevant, and plugged into the world.
The path to becoming an actuary is long, challenging, and sometimes frustrating. It is also rewarding. Throughout the credentialing process, actuaries gain practical knowledge that augments our ability to perform and understand our work. Though intensive, the prospect of continual learning motivates many actuaries. And this learning continues even beyond the credentialing process. Understanding the changing world around us is instrumental in keeping the profession attractive and relevant. What made my career pivot more seamless was the realization that I would not need to completely abandon my affinity for tuning into world events. Actuaries are constantly responding to market changes or any disruptive events that may impact risk. Indeed, even political decision-making can influence modeling risk.
Career development is rarely linear, and if it’s anything like mine, it can even be rather circular. Despite turning away from the career track I had long prepared for, I am grateful for all my experiences in the political world. I brought those skills and lessons into the actuarial profession and discovered what truly fulfills me. For those in a similar position to me, it is never too late to start an actuarial career!