Actuarial Studies - Single or Double Degree (1 Viewer)

[quikjimms]

Hi, I am planning to study actuarial studies this year and was planning to do it as a single degree, however was wondering if it would be more beneficial to study as a double degree. I realise doing a double gives more qualification as you have another degree alongside it, however evidentially it's obviously a bit more work than a single degree. I plan on attending MQ, with the double degree options being applied finance, science, or IT, however, I am not 100% about them.

Any advice would be greatly appreciated!

 

[jimmysmith560]

You are correct about the notion that completing a double degree program increases your employment opportunities since your studies would have entailed more than one field. For example, successful completion of MQ's Bachelor of Information Technology/Bachelor of Actuarial Studies will allow for a larger number of more varied opportunities in addition to becoming an actuary. Career opportunities offered by The Bachelor of Information Technology component include:

• Business analyst
• Project manager
• Project manager
• Systems administrator
• Database designer

As you mentioned, the main benefit of completing a double degree program may also result in your studies becoming more demanding and potentially less enjoyable. However, this may not necessarily be the case. To determine whether you would be able to enjoy and effectively cope with the content of two degrees, you may wish to consider your year 12 studies:

• Did you study hard in year 12?
• How much do you feel you have studied throughout year 12?
• Do you feel you are capable of undertaking a double degree program that will likely entail significantly more content and will require a sustained commitment beyond what you may have been exposed to in your final year of school?

Additionally, your interest (or lack thereof) in the proposed double degree components is essential. You are already aiming to study a Bachelor of Actuarial Studies, which indicates that you have an interest (hence increased certainty) in studying this degree and this is a good thing. Which of the Bachelor of Applied Finance, the Bachelor of Information Technology and the Bachelor of Science do you feel you would be most interested in studying?

You may also wish to consider the relevance of each double degree component to the Bachelor of Actuarial Studies. For instance, the Bachelor of Applied Finance and the Bachelor of Information Technology may be a better option to combine with a Bachelor of Actuarial Studies than a Bachelor of Science.

I hope this helps!

 

[quikjimms]

You are correct about the notion that completing a double degree program increases your employment opportunities since your studies would have entailed more than one field. For example, successful completion of MQ's Bachelor of Information Technology/Bachelor of Actuarial Studies will allow for a larger number of more varied opportunities in addition to becoming an actuary. The Bachelor of Information Technology component has the following career opportunities:

• Business analyst
• Project manager
• Project manager
• Systems administrator
• Database designer

As you mentioned, the main benefit of completing a double degree program may also result in your studies becoming more demanding and potentially less enjoyable. However, this may not necessarily be the case. To determine whether you would be able to enjoy and effectively cope with the content of two degrees, you may wish to consider your year 12 studies:

• Did you study hard in year 12?
• How much do you feel you have studied throughout year 12?
• Do you feel you are capable of undertaking a double degree program that will likely entail significantly more content and will require a sustained commitment beyond what you may have been exposed to in your final year of school?

Additionally, your interest (or lack thereof) in the proposed double degree components is essential. You are already aiming to study a Bachelor of Actuarial Studies, which indicates that you have an interest (hence increased certainty) in studying this degree, which is a good thing. Which of the Bachelor of Applied Finance, the Bachelor of Information Technology and the Bachelor of Science do you feel you would be most interested in studying.

You may also wish to consider the relevance of each double degree component to the Bachelor of Actuarial Studies. For instance, the Bachelor of Applied Finance and the Bachelor of Information Technology may be a better option to combine with a Bachelor of Actuarial Studies than a Bachelor of Science.

I hope this helps!

Thank you for your response! Looking at what you have said has further reaffirmed maintaining the single degree. I think if I was to do the double I would of preferred science, majoring in mathematics, and although I thoroughly enjoy maths, I would much rather focus on the actuarial studies degree itself. Although I wouldn't mind having the extra qualifications and I believe I would be able to handle the work load, at the end of the day I'm not too concerned about it. I think I was just second-guessing myself based on conversations with other people.

 

[c_z_m]

Hi! Just to add to the discussion - for UNSW - more people do double actuarial (250) than "single" actuarial (50) as the double degree offers more flexibility for career outcomes. Another reason (from word of mouth, so take this with a grain of salt) is that actuarial studies is a particularly demanding degree - requiring skills taught in 4U maths - meaning the "drop-out" rate (i.e: switching from actuarial to another degree or dropping actuarial entirely) is quite high compared to other degrees. However, if you feel passionate about *solely* actuarial studies - then go for it - passion is just as important as study for success!

 

[osciggyz]

Yeah im in a similar boat. Got a high enough atar to get into UNSW but stuck between choosing commerce or computer science to do along with acturarial or just doing actuarial on its own.

 

[quikjimms]

Hi! Just to add to the discussion - for UNSW - more people do double actuarial (250) than "single" actuarial (50) as the double degree offers more flexibility for career outcomes. Another reason (from word of mouth, so take this with a grain of salt) is that actuarial studies is a particularly demanding degree - requiring skills taught in 4U maths - meaning the "drop-out" rate (i.e: switching from actuarial to another degree or dropping actuarial entirely) is quite high compared to other degrees. However, if you feel passionate about *solely* actuarial studies - then go for it - passion is just as important as study for success!

Thanks for your input! Yeah I have noticed that usually the cohort declines over time but I guess that is given considering you don't know if it'll be good or bad until given a go. I think generally because I have seen that majority of people doing a double degree for actuarial studies rather than single it has made me wonder if I will be at a disadvantage later on. But overall yeah there isn't really any point if I am not interested/passionate about the other degree!

 

[quikjimms]

Yeah im in a similar boat. Got a high enough atar to get into UNSW but stuck between choosing commerce or computer science to do along with acturarial or just doing actuarial on its own.

Congrats! I guess do whatever you are most interested in/feel like would work best for you as they both go well with actuarial studies.