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Actuarial Employment (1 Viewer)

avi888

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Hey guys,

I am a hsc student, i am looking to do actl studies at unsw combined with either eco or commerce, but I am hearing about bad employment, so i am wondering on ur opinion on whether it is still worth doing and which combination will work better ?


Thanks
 

seventhroot

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if you have an actuarial degree; you are almost guaranteed employment.
 

avi888

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But in the field of actuary or investment banking?
 

mreditor16

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employment's good, you will generally get a job in some commerce-related field. however, job prospects for landing a traditional actuarial role (e.g. at insurance company) are not as good...


but this is all to consider, only if you can survive the 3/4 years of torture. haha
 

avi888

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Its all about optimism mreditor16 all about optimism :)
 

zhiying

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If you want to get into an actuarial role, so that's either with a consulting firm or at an insurance company, the employment is NOT bad. When people graduate with an actuarial degree, a lot of them simply don't want to work as an actuary. The skills you learn are transferable and also a lot of other fields look favourably at an actuarial degree since the graduates are known to have a high level of technical ability, so a lot of graduates go into investment banking, management consulting, risk management and data analytics. So generally everyone who graduates and wants to focus on an actuarial role finds such a job, as long as you have acceptable academics and a reasonable set of communication skills, interpersonal skills etc. The economy is decent enough such that most decent sized companies will hire at least a couple of actuarial graduates every year.

In short, if you want to do actuarial studies you shouldn't worry about employment, but rather think about whether it's actually what you want to do. No combination is particularly good, finance/economics/statistics are all useful, depending on what other career options you want to consider, e.g. obviously finance for banking and statistics for data analytics.
 

avi888

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In terms of undergraduate degrees, what would you recommend to go into a banking style role, I know macquarie has applied finance as a combination, unsure of what path to take at unsw?

Thanks
 

avi888

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Also I was wondering if you could in your opinion describe to me, how different the mathematics is for actuarial studies to the run of the mills 3u/4u hsc courses.
 

seventhroot

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In terms of undergraduate degrees, what would you recommend to go into a banking style role, I know macquarie has applied finance as a combination, unsure of what path to take at unsw?
they're all good at UNSW

Also I was wondering if you could in your opinion describe to me, how different the mathematics is for actuarial studies to the run of the mills 3u/4u hsc courses.
not sure if srs

completely different. At UNSW you have to take MATH1151/1251 in your first year which is very fast paced; content heavy; etc
 

obliviousninja

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If you want to get into an actuarial role, so that's either with a consulting firm or at an insurance company, the employment is NOT bad. When people graduate with an actuarial degree, a lot of them simply don't want to work as an actuary. The skills you learn are transferable and also a lot of other fields look favourably at an actuarial degree since the graduates are known to have a high level of technical ability, so a lot of graduates go into investment banking, management consulting, risk management and data analytics. So generally everyone who graduates and wants to focus on an actuarial role finds such a job, as long as you have acceptable academics and a reasonable set of communication skills, interpersonal skills etc. The economy is decent enough such that most decent sized companies will hire at least a couple of actuarial graduates every year.

In short, if you want to do actuarial studies you shouldn't worry about employment, but rather think about whether it's actually what you want to do. No combination is particularly good, finance/economics/statistics are all useful, depending on what other career options you want to consider, e.g. obviously finance for banking and statistics for data analytics.
Vote [1] ON for asoc president
 

mreditor16

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If you want to get into an actuarial role, so that's either with a consulting firm or at an insurance company, the employment is NOT bad. When people graduate with an actuarial degree, a lot of them simply don't want to work as an actuary. The skills you learn are transferable and also a lot of other fields look favourably at an actuarial degree since the graduates are known to have a high level of technical ability, so a lot of graduates go into investment banking, management consulting, risk management and data analytics. So generally everyone who graduates and wants to focus on an actuarial role finds such a job, as long as you have acceptable academics and a reasonable set of communication skills, interpersonal skills etc. The economy is decent enough such that most decent sized companies will hire at least a couple of actuarial graduates every year.

In short, if you want to do actuarial studies you shouldn't worry about employment, but rather think about whether it's actually what you want to do. No combination is particularly good, finance/economics/statistics are all useful, depending on what other career options you want to consider, e.g. obviously finance for banking and statistics for data analytics.
Zhiying, as always with your experience and knowledge, a great accurate and insightful response. :D Repped you... :)
 

Cleavage

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Why is this so??
Personally, I'd love to do actuarial studies, but not necessarily be an actuary. I want to do actuarial studies because it seems as though its a good base for business-related employment (management consulting looks very interesting), with which I can do maths that i find interesting and finance/business related subjects also.

Maybe this is a wider trend too, it seems logical (to me at least)
 

zhiying

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In terms of undergraduate degrees, what would you recommend to go into a banking style role, I know macquarie has applied finance as a combination, unsure of what path to take at unsw?

Thanks
At UNSW, you can do a single actuarial degree and get a second major in finance, or do Actuarial combine with commerce and do 3 majors, in finance and economics. Although if you REALLY want to go into finance, just do a commerce degree.

Also I was wondering if you could in your opinion describe to me, how different the mathematics is for actuarial studies to the run of the mills 3u/4u hsc courses.
Much harder, concepts are more advanced and statistical based, but not as insane as what you'd hear. Mainly because you don't have a teacher forcing you to study and come to class etc, so a lot of people who were good at math in HSC don't do nearly as well.

Why is this so??
They don't see themselves being an actuary I guess, some want to make the big bucks so they go into investment banking, some just want a simpler role in finance. Others just interested in different areas, but realised too late so they might as well finish their actuarial degree first. As I said, lots of skills are transferable.

Personally, I'd love to do actuarial studies, but not necessarily be an actuary. I want to do actuarial studies because it seems as though its a good base for business-related employment (management consulting looks very interesting), with which I can do maths that i find interesting and finance/business related subjects also.

Maybe this is a wider trend too, it seems logical (to me at least)
Actuarial studies, as in the degree itself, won't really benefit you if you want to go into mgmt consulting. Well, it does show that you have a technical background which is an advantage, but you need much more than the degree itself if you want to break into mgmt consulting.
 

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