Acturial (1 Viewer)

[belatedactuarialgod]

Hey guys, so I was thinking of doing actuarial but, I have some questions:

1. How difficult is it? Lets say for someone who is doing fine in extension 1 math but, takes longer to grapple/learn concepts. Like i'm the type who HAS to study for every exam otherwise I'll fail (unlike some who manage to wing it).

2. Are the job prospects amazing? I head actuarial studies has 0 unemployment. However, it doesn't really make sense how everyone wants to do something really niche and manages to get straight into actuarial.

3. How much study would you have to do to get a good mark? Would 1-2 hours be enough? Or would I have to study 24/7?

4. Does doing actuarial studies guarantee a high paying job?

 

[uniqueusername1]

Hey guys, so I was thinking of doing actuarial but, I have some questions:

1. How difficult is it? Lets say for someone who is doing fine in extension 1 math but, takes longer to grapple/learn concepts. Like i'm the type who HAS to study for every exam otherwise I'll fail (unlike some who manage to wing it).

2. Are the job prospects amazing? I head actuarial studies has 0 unemployment. However, it doesn't really make sense how everyone wants to do something really niche and manages to get straight into actuarial.

3. How much study would you have to do to get a good mark? Would 1-2 hours be enough? Or would I have to study 24/7?

4. Does doing actuarial studies guarantee a high paying job?

A new day a new acturial student....

Idk anything about acturial but, 0 unemployment seems too good to be true.

 

[uniqueusername1]

Maybe the expert @quickoats can help ya out

 

[Drongoski]

A new day a new acturial student....

Idk anything about acturial but, 0 unemployment seems too good to be true.

Interesting how one error (a typo in this case) creates another: "Actuarial" to "acturial".
Like "Hokkian"(my transliteration) is spelt "Hokkien"(to me, an inaccurate transliteration) by 99% of users, simply because someone long ago transliterated it that way. The followers don't know better or couldn't care less. Like the vege often referred to as "Bok Choy" for what the Cantonese refer to as "Pak Choy" or "Park Choy" (meaning "white vegetable"). So "Bok Choy" has become the official or correct transliteration.

But who cares anyway. Sorry for this irrelevant rant.

 

[jimmysmith560]

In terms of employment prospects, having worked at a Big Four accounting firm (PwC), I can say that you may be able to access employment opportunities at such firms as an actuary in addition to other opportunities. An important consideration is employability. This aspect is more about you as a job candidate rather than the employment/unemployment rate of the profession. A profession/industry with high employment prospects does not necessarily guarantee you a job unless you are perceived to fulfill all the requirements of the position(s) that you apply for. This means that ensuring you are a well-rounded, competitive applicant with respect to aspects such as skills, education and (if applicable) work experience will allow you to maximise your employability, i.e. increase your chances of receiving an offer for the position(s) that you apply for (assuming you perform favourably in an interview(s) where applicable).

While salaries will depend on the firm that you work for (with some firms possibly paying higher/lower than others), average salaries for actuaries are considered relatively high. The median salary is said to be approximately $100000. Of course, your starting salary may be lower than this and salary-related growth may be subsequently achieved as you become a more experienced actuary and/or work in better-paying firms and/or undertake more senior positions.

I hope this helps!

 

[icycledough]

Hey guys, so I was thinking of doing actuarial but, I have some questions:

1. How difficult is it? Lets say for someone who is doing fine in extension 1 math but, takes longer to grapple/learn concepts. Like i'm the type who HAS to study for every exam otherwise I'll fail (unlike some who manage to wing it).

2. Are the job prospects amazing? I head actuarial studies has 0 unemployment. However, it doesn't really make sense how everyone wants to do something really niche and manages to get straight into actuarial.

3. How much study would you have to do to get a good mark? Would 1-2 hours be enough? Or would I have to study 24/7?

4. Does doing actuarial studies guarantee a high paying job?

I'm an actuarial student so I should be able to help you with your questions.

1) There is obviously a lot of maths involved, so it can get quite difficult in that sense. It does help if you do Extension 2 and are thorough with it as the course goes through Extension 2 content like complex numbers and integration/differentiation/limits, although there are no pre-requisites. It may just be a bit harder without a solid maths foundation. Keep in mind though that there are other subjects in actuarial like commerce, economics, an actual actuarial subject which also has a coding component, so there's obviously different subjects testing different areas of knowledge.

2) The job prospects do venture out into many different opportunities, some of which are listed below. Of course, there is the risk of AI or technology in the future possibly making some careers redundant, but that is out of your control. If you can nail down the things which are in your control, I'm sure it'll work out for you the way you want it to.

3) Alongside the lectures, I'd say an hour of study per subject (so 2-3) per day would be sufficient. Obviously during exams you will have to ramp it up more, but that isn't something you aren't used to, especially during Year 12.

4) Like jimmy said, yes, it will pay well. But that good money isn't guaranteed immediately. Even with a medical profession, you won't be earning the 'big bucks' straight out of university. It's all about learning your trade, developing your skills, maturing and then you will see a gradual increase in your salary.

I'm also more than happy to answer any other questions you may have


Potential careers

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

 

[belatedactuarialgod]

I'm an actuarial student so I should be able to help you with your questions.

1) There is obviously a lot of maths involved, so it can get quite difficult in that sense. It does help if you do Extension 2 and are thorough with it as the course goes through Extension 2 content like complex numbers and integration/differentiation/limits, although there are no pre-requisites. It may just be a bit harder without a solid maths foundation. Keep in mind though that there are other subjects in actuarial like commerce, economics, an actual actuarial subject which also has a coding component, so there's obviously different subjects testing different areas of knowledge.

2) The job prospects do venture out into many different opportunities, some of which are listed below. Of course, there is the risk of AI or technology in the future possibly making some careers redundant, but that is out of your control. If you can nail down the things which are in your control, I'm sure it'll work out for you the way you want it to.

3) Alongside the lectures, I'd say an hour of study per subject (so 2-3) per day would be sufficient. Obviously during exams you will have to ramp it up more, but that isn't something you aren't used to, especially during Year 12.

4) Like jimmy said, yes, it will pay well. But that good money isn't guaranteed immediately. Even with a medical profession, you won't be earning the 'big bucks' straight out of university. It's all about learning your trade, developing your skills, maturing and then you will see a gradual increase in your salary.

I'm also more than happy to answer any other questions you may have


Potential careers

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

Is it true that you need a distinction to get an actuarial job? If so is that hard to achieve?

 

[icycledough]

Is it true that you need a distinction to get an actuarial job? If so is that hard to achieve?

I'm not exactly sure on the grades required just yet to be able to get a job. But a distinction isn't too hard considering you put in the necessary effort (consistent and dedicated)