SOA vs. CAS Path Picker
Answer these questions to find out which actuarial credential path might be the best fit for you.
1. Which area of insurance interests you more?
2. What type of math do you prefer?
3. Which work environment appeals to you?
4. What kind of problems do you want to solve?
5. Which credential appeals to you?
6. How do you feel about written exams vs. multiple choice?
SOA vs CAS: Choosing Your Actuarial Path
The Society of Actuaries (SOA) and the Casualty Actuarial Society (CAS) represent the two main professional organizations for actuaries in North America. Choosing between them is one of the most important early career decisions you will make, and it shapes your exam path, career opportunities, and areas of specialization.
Key Differences
SOA actuaries typically work in life insurance, health insurance, retirement benefits, and financial services. CAS actuaries focus on property and casualty insurance, including auto, homeowners, workers compensation, and commercial lines. The first three preliminary exams (P, FM, and SRM) are shared between both organizations. After that, the paths diverge: SOA candidates take STAM and LTAM, while CAS candidates take MAS-I and MAS-II.
Factors to Consider
- Your interest in life/health insurance versus property/casualty insurance
- Geographic job availability (CAS roles cluster more heavily in specific markets)
- Long-term career goals (consulting, pricing, reserving, risk management)
- Exam format preferences (CAS exams have different structures than SOA exams)
- Salary expectations (both paths offer strong compensation, with some variation by specialty)