Abstract:
There is concern that the actuarial profession is losing talented people to other vocations. Actuaries are notorious for developing very strong technical skills as they take rigorous certification examinations. The exams are so difficult that they are turning many people away. These exams test topics beginning at the college level, and reaching well beyond the scope of university studies. For years after graduation, actuaries must rely on self-teaching to become certified.Very few schools offer studies in actuarial science, and therefore, only a minority of practicing actuaries have been educated from an actuarial university. The purpose of this study is to determine whether attending an actuarial school adds to human capital, measured in income, significantly more than a non-actuarial school. From the perspective of an employer looking to recruit, and for students looking at potential schools, it could be important if there is a correlation between university studies at an actuarial school and the value of human capital.I find a negative correlation, which is not statistically significant.
