Actuarial (double or single)? (1 Viewer)

[lyounamu]

Is there any significant benefit of doing Double Actuarial degree apart from II exemption?

 

[cyl123]

Is there any significant benefit of doing Double Actuarial degree apart from II exemption?

No need to do gen ed courses which are a waste of time
Alternate career paths available if actuary doesn't work out + Extra qualification
Can do more interesting courses in other degrees than other courses in commerce degree
Lower HECS per year (cos commerce is in the highest band. Doing science electives is cheaper than commerce electives)

 

[lyounamu]

No need to do gen ed courses which are a waste of time
Alternate career paths available if actuary doesn't work out + Extra qualification
Can do more interesting courses in other degrees than other courses in commerce degree
Lower HECS per year (cos commerce is in the highest band. Doing science electives is cheaper than commerce electives)

Oh that made so much sense. Thanks
EDIT: on the last point, if you do double degree, since u do more credits, isn't it more expensive?

 

[cyl123]

Oh that made so much sense. Thanks
EDIT: on the last point, if you do double degree, since u do more credits, isn't it more expensive?

Yes you are right in that sense. But the cost of doing those extra courses is imho outweighed by the benefits of extra education (esp in maths with the national priority scheme). What I'm trying to say is that it doesn't cost that much extra to obtain a second degree (unless its a degree which is in the highest HECS band such as law) compared to the cost of a commerce degree in the first place, so it seems advantageous to obtain it.

The only main issue about the double degree is time: is it worth the extra few years when you could find a job? (Although for actuarial, 4 years is required anyway)

 

[Studentleader]

Depends on what you want to do. If you want to be an 'actuary' you have to do (to my knowledge): Stage 1 (UG - 3 years) Stage 2 (Post Grad - 1 year) Stage 3 (Exams - ~7 years?) I dropped my commerce degree because I believe honours + 0.5 years > finance major. If you want to be one of these hedgefund managers/investment bankers who make $500,000 a year then you must realise that experience > undergraduate degrees. If you want to get up into a high role you should be going for: B.Comm(Actuarial) -> Few years experience -> MBA+/FIAA+/CFA I personally think undergraduate degrees are shithouse and cover fuck all material so I'd be trying to get into honours/masters/the workforce asap.

 

[RuffWoof]

How long does the part I exemption last for after completing? ^damn! 7 years

 

[Studentleader]

How long does the part I exemption last for after completing? ^damn! 7 years

I'd assume forever - think it takes people generally 15 years to become a full FIAA actuary. I've seen a few people get 2 of their exams done during university which would be cool.

 

[ninjapuppet]

I went to a QED actuarial seminar last year, and the speaker said that the average age to obtain full FIAA, in australia is 28. while the youngest ever to become FIAA was 24.

The rep for the actuarial university subscriber student liason is only about mid twenties and I think shes nearly got her FIAA.

 

[L]

yeah you are more asian doing II

 

[ascentyx]

most people do a double and get part II accredited as well. Then it takes another 2 years + you have to do an ethics course and join this mentor program thing. The fastest u could become FIAA would be 6 years from when you start uni but considering u need credits for tons of courses and the pass rate for the part 3 exams is around 50% you can see why people take much longer.