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Actuary vs. Financial Analyst

  • 10-11-2019 10:28am
    #1
    FHFM50
    Closed Accounts Posts: 165 ✭✭


    Currently in final year of a Financial Maths degree looking at careers.

    Obviously Actuarial Science has far more exams but I've heard the work/life balance for a (qualified) Actuary is better than for a Financial Analyst.

    Anybody here who could give some feedback on either of these roles?


Comments

  • #2
    nthclare
    Banned (with Prison Access) Posts: 3,315 ✭✭✭nthclare


    My friend is an actuary, and he is living a fairly good life, he's a mathematical genius and he's conining it.
    A bit like a good barrister, great at his job almost able to think of the answer before the subject matter.

    In primary school he was able to do long division without any pensil work, just looks at figures like a musician looks at notes and comes up with the answer...

    Like myself with a garden, look at a blank space have a garden in my head within a minute.. plans it out on a scaled draft...bingo
    well it takes longer to draught it out than thinking about the end product.

    Actuary's are well sought after that's for sure, probably self employed a lot but being good with number's you can do your own returns with your eyes closed...

    Wishing you luck with your decision


  • #3
    Mr_Roger_Bongos
    Registered Users, Registered Users 2 Posts: 1,470 ✭✭✭Mr_Roger_Bongos


    I don't work in either of these roles but know people who do.

    I think it's important to understand what you want from a job.

    If you go down the Actuary route:
    - If you manage to do a number of the exams (which are difficult) in a short period of time, you'll be very well paid. Most firms that employ actuary's have a simple reward system e.g. Do and exam, your pay goes up.
    - You can always move from Actuary to a related discipline including financial analyst e.g. If you did the CFA

    If you go down the financial analyst route:
    - Not as well paid initially
    - A little more dynamic than actuary, especially if you're close to the investment decision process. E.g. If you go to work for a small investment manager/hedge fund, you'll be doing the research that's used to make trading decisions (hopefully profitable ones).
    - If you chose to work for a big bank, you're research would be further away from the decision making process.
    - If you have a genuine interest in the markets, analyst would probably be more intellectually rewarding.

    My take - If you have the maths to progress through Actuary examinations with relative ease, go that route. Better paid and gives flexibility to change if you wish (although you may take a pay cut to leave that industry)


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