Acturial (1 Viewer)

[uniqueusername1]

So as a joke I applied for actuarial studies and I managed to get in for early entry. However, I would like to ask some qs. Is the job market any good for actuaries? If no, is there any alternative job which could be done through the degree which doesn't involve investing/banking?

Also how difficult is the course? Apparently it's not really difficult (medium difficulty) as most people draw out due to disinterest.

 

[O01x]

Not answering your question but which university was this?

 

[zaddiaone]

Human Resource Management probably

 

[quickoats]

I'd say the market is decent compared to other things but slowly getting flooded - there's no such thing as zero unemployment. It is a much more popular degree than it used to be, so supply and demand means that not everyone can get an actuarial job, and that employers won't be throwing the mythical '6 figures at grad' that they might have used to.

The intended pipeline is for you to go into the insurance/superannuation field - this is the 'traditional' zone for actuaries. These sort of things involve time, the life cycle, uncertainty, and death/survival, which is kinda what an actuary specialises in. Of course, you can branch out into banking and general finance roles. Other areas I've heard grads going into is data science, statistics, consulting etc depending on their skill sit (e.g. data science would probably have a CS double degree, or just be very good at coding).

And yeah you might hear that 'half the cohort drops out' but that's generally due to them transitioning to another degree out of disinterest rather than flunking out of uni altogether. I found it medium difficulty as you said (although I only did first year) but it's not impossible.

 

[jimmysmith560]

Human Resource Management probably

As far as I'm aware, actuarial knowledge and calculations with respect to human resource management are necessary for reward and performance management activities such as ascertaining the necessary level of funding to meet promised employee/pension/retirement benefits, which can also be linked to the area of superannuation as established by quickoats above.

 

[uniqueusername1]

Not answering your question but which university was this?

Macq

 

[uniqueusername1]

And yeah you might hear that 'half the cohort drops out' but that's generally due to them transitioning to another degree out of disinterest rather than flunking out of uni altogether. I found it medium difficulty as you said (although I only did first year) but it's not impossible.

May I ask what you have switched to? And why you left actuarial?

 

[icycledough]

So as a joke I applied for actuarial studies and I managed to get in for early entry. However, I would like to ask some qs. Is the job market any good for actuaries? If no, is there any alternative job which could be done through the degree which doesn't involve investing/banking?

Also how difficult is the course? Apparently it's not really difficult (medium difficulty) as most people draw out due to disinterest.

Oh wow, I didn't know MQ has early entry for actuarial. I'm doing it at UNSW, and am not aware of any early entry scheme for it, so it's probably only a MQ thing. With regards to the job market, there's literally hundreds of prospective careers you can see yourself working in,. A few of the possibilities are:

• Actuarial Analyst
• Asset Management Trainee
• Business Consultant
• Credit Analyst
• Data Analyst
• Insurance Analyst
• Investment Banker
• Risk Assessment Officer
• Superannuation Adviser
• Wealth Management Analyst

With regards to the difficulty of the course, I'm not sure how MQ runs their course (I've heard there's less options to choose from in terms of double degrees), but it definitely does have a level of difficulty to it. I was initially under the impression that it's just maths and that's it, but quickly learned that I also have subjects like economics and commerce (which may or may not be to your liking). It definitely does have a high dropout rate due to its difficulty, but just like with high school, all you need is an hour per subject per day of study (so 3 hours a day should be sufficient). Then of course, you would have to ramp this up during exams and whatnot.

 

[uniqueusername1]

It definitely does have a high dropout rate due to its difficulty, but just like with high school, all you need is an hour per subject per day of study (so 3 hours a day should be sufficient). Then of course, you would have to ramp this up during exams and whatnot.

That seems manageable for year 1

Apparently it ramps up insanely in year 2 and 3 lol.

But I guess it wouldn't be too bad as long as you like it haha.