Just a thought

[capitalH]

For those of you who have taken career breaks while studying to be an actuary, how has this worked out for you?

I think it worked well for me - I did some other studies during the time, which I think serves me well. At the time I stopped I was slightly demotivated about becoming an actuary - attempting exams at this time would have had less than desirable results.

It also allowed me to focus on my job, and to gain some very valuable experience - I do not think I would have progressed as I had if I attempted a full actuarial study load during this time.

Did you stop paying subscriptions while you were on your break?

I continued to pay subscriptions as I wanted to keep the actuarial option open.

If so, did you have to jump through any hoops when wanting to re-subscribe?

The reason for which I continued to pay subs - also did not want to lose my exemptions by stopping to pay subs (I do now know whether you will - I just had this fear that I would have to start over)

Did you stay working for an actuarial type company or do something completely different?

I were doing something different and still is!

Hope this helps Amarantha. Are you considering a break? If so my only advice would be:

If you do it, do it with a purpose. Do a Masters degree or a PhD. Focus on getting the job you want. Go climb Everest. And return as soon as you are done.

If you stop just for the sake of taking a break it may be very difficult to start again. If you are tired and need some rest, skip a session (or maybe split one exam over 2 sessions).

 

[Busy_Bee4422]

Coming back to the profession isn't difficult at all. All you need is to get an actuary to sign your reinstatement application and it's done.

Exemptions no problem again. I only applied for mine this year in February for a credits I got in 2001 or thereabouts.

It seems to me the profession is very understanding about these matters. I wonder if the market is. The problem here is getting a job after the haitus. You may have to answer a couple of odd questions interviews when you want to return to the profession. Consider the market seriously otherwise it may be an exit instead of a break.

 

[anon2]

I were doing something different and still is!

Journalism, I would guess.

 

[capitalH]

Journalism, I would guess.

Wow. Not that different.
With different I mean related to actuarial work but not deemed to be actuarial work. Like banking.

Journalism would have been a nice break though - then I would not have been so terrified of the CA3 results!

 

[Goku]

What banking did you do Capital H?

I also started off in a bank Got a position as a Quantitative Credit Analyst. My responsibilities were to work with the Basel II parameters (PD's, LGD's etc.), risk pricing and developing/monitoring of Credit Scorecards.

Was quite fun for the first 2 years, but then I received the "prodigal" calling from inside, and am now at a Life office...where I'm not the only "actuarial one"

Though through that status, I guess I was well compensated: performance bonuses, and very generous increments in salary (since I was on a junior "executive" level).

Now's I'm an assistant (actuarial that is...). Quite a change however, I still retained my salary guess that's due to the number of CT's I had at the time of application, as well as overall work experience and my academic record; in fact my salary was structured so as to include all of the CT's that I still has to write that year, and the increases I would have received had I passed them was included (!).

Feel much happier now, though; am in an environment where I'm guranteed to learn a few new things every week, and where I'm faced with real challenges!

The banking stuff was too simple...a 2nd year stats student could have done my job.