Is an Actuarial Science MS still worth it?
Hi everyone, I’m looking for some honest career advice regarding a potential pivot into finance. Background is UCB Math undergrad with zero professional finance experience; have been taking some online mfe courses from Youtube.
I’m currently struggling between two offers: an Online MFE from Stevens Institute of Technology and an onsite MS in Actuarial Science at Columbia. To be honest, I’m leaning more towards finance/quant roles, as I’ve become somewhat pessimistic about the actuarial outlook and worry that spending tens of thousands on that degree won't lead to a solid job.
On the other hand, the Columbia prestige and the networking resources in NYC are incredibly tempting. Staying in the Bay Area for an online MFE fits my current lifestyle—it’s cost-effective since I’d essentially only be paying tuition. Moving to NYC for Columbia would mean dealing with rent and relocation, which adds up to a massive financial burden.
Questions:
- Given my zero-experience background, is the Columbia "Ivy League" brand and NYC location worth a $150k+ debt, even if the degree is in Actuarial Science rather than MFE?
- How difficult is it to pivot from a Columbia Actuarial MS to a Quant/Finance role in NYC?
I appreciate any advice.