Thinking of Quitting My Job: Am I Making a Mistake?
I recently failed my senior year of college and have been working as an actuary for nearly two years now. I’m earning around $100k, with a projected $130k next year if I stay. My job is relatively straightforward (aside from the tough exam process), I’m with a fantastic company, and there are clear opportunities for career advancement every 1.5 to 2 years.
Despite having a job that many would envy, I’m considering quitting to return to school for a year (Spring & Fall 2026 semesters) to complete my degrees in math and Economics. I find my current work monotonous, mostly involving comparing Excel documents and PDFs to ensure our data is accurate, with very little social interaction. I suspect that most other careers would be more engaging than this.
I aspire to have a career that not only pays over $100k after a few years but is also more stimulating than my current role. My goal is to apply for finance positions when I return to undergrad, with quant trading at the top of my list (although I recognize it’s a long shot). If I can’t land a solid finance job post-graduation, I plan to pursue a master’s degree in computer science or return to the actuarial field, potentially followed by an MBA.
While I could take a few community college courses while working to complete my actuarial science degree, going back to school full time would help me improve my GPA for grad school, provide an additional summer to seek internships, and allow me to earn the extra math and Economics degrees that would be advantageous in the job market. Plus, my parents are willing to cover my tuition, meaning I’d only be giving up a year of experience and income. I still have the option to return to my actuarial career if needed.
I have a couple of questions:
– What finance career paths could I consider with Math and Econ degrees, apart from quant trading?
– Does my plan seem practical, or am I making a mistake?
One response
It sounds like you’re facing a significant decision, and it’s understandable to have some doubts about it. Let’s break it down.
First of all, you’re not stupid for considering a change. Many people evaluate their career paths and make changes when they feel unfulfilled. It’s great that you have a clear understanding of your current situation and what you want moving forward.
To answer your questions:
Career Paths in finance with Math/Econ Degrees:
Data Analyst/Scientist: These roles involve analyzing data to help make business decisions. Your math background would be an asset here.
Financial Analyst: This role typically involves assessing the performance of financial investments and providing guidance to businesses and individuals making investment decisions.
Risk Management: Your actuarial experience could easily translate into risk management roles, where you assess risks and develop strategies to mitigate them.
Investment Banking: Though often demanding, it can be very rewarding. Your math skills would be beneficial in financial modeling and analysis.
Corporate Finance: This field involves managing the finances of a company, including budgeting, forecasting, and investment analysis.
Econometrics/Policy Analysis: Working with government or NGOs on economic policies could be a fulfilling path, especially suited to your Economics degree.
Fintech: With your math background, you might find roles in financial technology startups, which often look for people with strong analytical skills.
Is Your Plan Reasonable?
Your plan appears well thought out, especially considering your financial circumstances (having your parents pay for tuition), which reduces some of the risks. Here are some factors to consider:
Opportunity Cost: While you’ll be missing out on a year’s salary, the potential long-term benefits of transitioning into a career that you find more fulfilling could outweigh that.
Networking and Internships: Going back to school provides a great opportunity to network and secure internships, which are crucial for breaking into finance.
Backup Plan: Having actuarial work as a backup is a smart move. It’s a solid safety net that many people don’t have.
Exam Process: Keep in mind that the actuarial exam process won’t disappear, so if you decide to go back, you’ll still have that path available, especially if you want to blend it with an MBA later.
Ultimately, if you’re feeling restless and unfulfilled in your current job and you have a well-structured plan that prioritizes your long-term happiness and career satisfaction, it’s justified to make a change. Good luck with your decision—trust your instincts, and don’t hesitate to reach out to mentors or professionals in the fields you’re considering for further insights!