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Thread: Actuarial Stu/Adv Maths (Hons)

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    Actuarial Stu/Adv Maths (Hons)

    I'm a year 12 student looking at studying either maths or actuarial studies at university. I am very genuinely interested in maths, achieving 100 in 3U and 4U as an accelerated student. the UNSW Actuarial Stu/Adv Maths (Hons) appeals to me and was wondering if someone could shed some light on it.

    Do you study both degrees at the same time, leaving honours for the final year? or do you do 3 years of actuarial and 2 years of science (advanced math)?

    Also, USYD has an advanced maths degree (Dalyell Scholar) and was wondering if you could somehow major to become an actuary from this course or does USYD simply not produce any actuaries?

    What is the difference between advanced science and advanced maths at USYD?

    I am drawn to actuarial studies over solely mathematics because I am worried that an advanced math degree alone would not garner as many job opportunities as an actuarial studies one. is that a reasonable presupposition and since I would rather go to USYD (travel and appeal of the dalyell scholar program)

    Should I do UNSWs dual degree in actuarial/science (Advanced math) or USYD's advanced math (dalyell scholar) degree???

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    Re: Actuarial Stu/Adv Maths (Hons)

    The only difference between usyd and unsw degree is that one gives u credibility to become an actuary the other does not. However with 2 yrs of study u can become one from usyd.

    Dalyell imo is bad, hence I dropped out. But I guess it'll get better, so u have the option.

    USYD doesn't need to produce actuaries when we have Macquarie and unsw? We don't need more oversupply that it already is.

    It's joint so u do both actuary and maths units. U do honours final yr.

    Congrats on ur maths results!

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    Re: Actuarial Stu/Adv Maths (Hons)

    Quote Originally Posted by mathpie View Post
    I'm a year 12 student looking at studying either maths or actuarial studies at university. I am very genuinely interested in maths, achieving 100 in 3U and 4U as an accelerated student. the UNSW Actuarial Stu/Adv Maths (Hons) appeals to me and was wondering if someone could shed some light on it.

    Do you study both degrees at the same time, leaving honours for the final year? or do you do 3 years of actuarial and 2 years of science (advanced math)?

    Also, USYD has an advanced maths degree (Dalyell Scholar) and was wondering if you could somehow major to become an actuary from this course or does USYD simply not produce any actuaries?

    What is the difference between advanced science and advanced maths at USYD?

    I am drawn to actuarial studies over solely mathematics because I am worried that an advanced math degree alone would not garner as many job opportunities as an actuarial studies one. is that a reasonable presupposition and since I would rather go to USYD (travel and appeal of the dalyell scholar program)

    Should I do UNSWs dual degree in actuarial/science (Advanced math) or USYD's advanced math (dalyell scholar) degree???
    Usyd doesn't produce actuaries, defs go unsw or mq if you want to become one unless you want more years of doing exams which is not worth imo just get exemptions from unsw/mq from part 1s/2s.

    I do actuarial rn mainly because I like maths a lot and also I like technology including spreadsheets/coding so I thought it'd be suitable to do. Don't really have regrets because I do statistics, actuarial studies and maths right now which are pretty fun as well as economics (kinda not fun). I was deciding between comp sci+maths at usyd or unsw vs actuarial and picked actuarial due to higher money not gonna lie but I enjoy both.

    Maths definitely does have jobs, I'm not sure about the job prospects as I didn't research it but I know actuarial job prospects are pretty good. Not many people get ACTUAL actuary jobs, but the skills are needed in other fields e.g. health insurance, disability insurance, disaster insurance, and more I forgot. If you're a decent candidate you'll probably land a job though! From my friends I think maths degree can get you as a professor, researcher(??idk the name maybe just mathematician), analyst in some roles but not sure haven't researched it.
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    Re: Actuarial Stu/Adv Maths (Hons)

    Some more positions that prioritise hiring mathematics majors include:

    - quantitative trading e.g. Optiver, Jane Street. Despite what you may think, these high-tech trading companies avoid hiring finance/business/economics majors, but specifically try to seek out mathematics, computer science, statistics and even engineering and physics majors. Don't believe me? Have a look at their job applications pages. (One of the dudes from Jane Street told me that the vast majority of their employees are maths and comp sci majors.)

    - data analysis

    - quantitative analysis for banks and businesses (I think this is big enough of an industry to deserve a separate mention from data analysis)

    - mathematical modelling, every business even remotely related to STEM requires this.

    - software engineering. Believe it or not, some firms will hire mathematics majors as much as computer science and IT majors.

    - gaming companies (i.e. software engineering specifically for casinos)

    - whatever businesses that hire actuarial studies graduates will hire mathematics majors too. The only exception is being a legit actuary, because that has unusually high barriers to entry for any graduate apart from actuarial studies graduates due to the imposed exams and whatnot from the Actuaries Institute.

    I've only named a few positions, but you can find plenty of job offerings under each of them.

    If you're genuinely interested in mathematics, you should study that. You can pair it up with something else, like engineering or actuarial studies, but I think to appreciate and do well in those fields, you need to be actually genuinely interested in those fields in and of themselves. In my honest opinion, if there's anything you should pair mathematics with, it's computer science.

    Also, when deciding USYD or UNSW, it honestly doesn't matter, unless if you're considering actuarial studies. You should choose based on convenience and your personal preference (aesthetics, for example, might be a valid criterion, if nothing else).
    Last edited by sida1049; 30 Apr 2018 at 9:07 PM.
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    Bachelor of Science (Advanced Mathematics) III, USYD

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    Re: Actuarial Stu/Adv Maths (Hons)

    Quote Originally Posted by si2136 View Post
    The only difference between usyd and unsw degree is that one gives u credibility to become an actuary the other does not. However with 2 yrs of study u can become one from usyd.

    Dalyell imo is bad, hence I dropped out. But I guess it'll get better, so u have the option.

    USYD doesn't need to produce actuaries when we have Macquarie and unsw? We don't need more oversupply that it already is.

    It's joint so u do both actuary and maths units. U do honours final yr.

    Congrats on ur maths results!
    Thanks for your response.
    Is that 2 extra years on top of a science degree to major in actuarial studies or something at usyd?
    Since its combined do you do less units (1/2 I assume, not accounting for overlapping courses)) of each degree than if they were single degrees or just double the work?
    lol why was Dalyell bad?
    And thank you!

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    Re: Actuarial Stu/Adv Maths (Hons)

    Quote Originally Posted by mathpie View Post
    Thanks for your response.
    Is that 2 extra years on top of a science degree to major in actuarial studies or something at usyd?
    Since its combined do you do less units (1/2 I assume, not accounting for overlapping courses)) of each degree than if they were single degrees or just double the work?
    lol why was Dalyell bad?
    And thank you!
    You can get accredited for it by doing a masters I think (or external exam?)

    Eh not really, they overlap a lot so in a way yes and no

    For dalyell, I don't want to comment much on it haha

    Eh obviously not double the work but half maths half actuary. First year they're all the same tbh at unsw

    Welp idk why u would choose to do maths and actuary, it's kind of pointless tbh.

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    Re: Actuarial Stu/Adv Maths (Hons)

    Quote Originally Posted by si2136 View Post
    Welp idk why u would choose to do maths and actuary, it's kind of pointless tbh.
    because they overlap a lot? I thought it would be a good backup to have 2 degrees and they're the two I think id enjoy the most.

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    Re: Actuarial Stu/Adv Maths (Hons)

    Quote Originally Posted by mathpie View Post
    because they overlap a lot? I thought it would be a good backup to have 2 degrees and they're the two I think id enjoy the most.
    Yeah most people choose a second degree for actuarial to get part 2 exemptions (which needs 4 yrs) so pick maths as a 2nd if you like it
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    Re: Actuarial Stu/Adv Maths (Hons)

    Quote Originally Posted by mathpie View Post
    because they overlap a lot? I thought it would be a good backup to have 2 degrees and they're the two I think id enjoy the most.
    imo it's a waste of a time, depends on where you want to work in anyways. If I want to become an actuary, I'll do a straight actl degree. If I want to work in risk, I would do comm/maths. They overlap but they're mutually exclusive in a way. You can't work as an actuary if you do a math degree but if you do actuary, you specialise so much it's hard to work in other areas in finance. Yes, your skills are 'flexible/transferable' or whatever they're called these days, but then you don't have to do an actuary degree, you could do a philosophy degree too.

    It's like wanting to become a teacher but you do a urban planning and teaching degree. Sure, urban planning can help in areas of project management because 'skills are transferable' but like !?!?

    Just venting about how unis and companies are promoting STEM when they're not sure what it consists of, 'same as big data'.

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    Re: Actuarial Stu/Adv Maths (Hons)

    Quote Originally Posted by pikachu975 View Post
    Yeah most people choose a second degree for actuarial to get part 2 exemptions (which needs 4 yrs) so pick maths as a 2nd if you like it
    Didn't even know you could get that could you explain a little more please?

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    Re: Actuarial Stu/Adv Maths (Hons)

    Quote Originally Posted by si2136 View Post
    imo it's a waste of a time, depends on where you want to work in anyways. If I want to become an actuary, I'll do a straight actl degree. If I want to work in risk, I would do comm/maths. They overlap but they're mutually exclusive in a way. You can't work as an actuary if you do a math degree but if you do actuary, you specialise so much it's hard to work in other areas in finance. Yes, your skills are 'flexible/transferable' or whatever they're called these days, but then you don't have to do an actuary degree, you could do a philosophy degree too.

    It's like wanting to become a teacher but you do a urban planning and teaching degree. Sure, urban planning can help in areas of project management because 'skills are transferable' but like !?!?

    Just venting about how unis and companies are promoting STEM when they're not sure what it consists of, 'same as big data'.
    Fair points although I'm not even sure where I want to work later on ughh

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    Re: Actuarial Stu/Adv Maths (Hons)

    to become an actuary after completing an undergraduate in a non actuarial course takes the best people about 7 years
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    Re: Actuarial Stu/Adv Maths (Hons)

    Quote Originally Posted by mathpie View Post
    Didn't even know you could get that could you explain a little more please?
    Part 1s and 2s you get exemptions for in uni if u do a 4+ yr degree i.e. you don't do the exams for those which cost money and if you get the required mark usually credit or distinction depending on uni.

    3 yr degree gives u part 1s but then u do part 2s as exams separate from the degree and while u work.

    A non actuarial degree u do part 1s and 2s separately which takes FOREVER so if u wanna be an actuary just do the degree. Also part 3s u do after u do part 2s and require A LOT of study and u do it while u work. It can increase pay by quite a bit.
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