acturial studies (im in 12) (3 Viewers)

[-=«MÄLÅÇhïtÊ»=-]

last yrs was a piece of cake?!

i heard only 1/4 ppl got exemption last yr

 

[bigredboof]

anyone like mac bank?

Hello,

Mac Bank is where I got my job at, thats where Im working now, and it wasn't hard.

And, no they arent big on using the word "actuar", however I have met alot of people who have the actuarial qualifications and are using their skills in their work

 

[Grizzly]

Hello,

Mac Bank is where I got my job at, thats where Im working now, and it wasn't hard.

And, no they arent big on using the word "actuar", however I have met alot of people who have the actuarial qualifications and are using their skills in their work

Do u know where they got their qualification from?

 

[bigredboof]

all were maq graduates, and the majority have also done their FIAA qualifications too!!!

 

[Grizzly]

all were maq graduates, and the majority have also done their FIAA qualifications too!!!

lol....which is ?

 

[flamin']

yea and its heaps hard to get. Only super super super smat ppl get it.

the exam was something like 6 hrs for your part 3 i think...

 

[-=«MÄLÅÇhïtÊ»=-]

wen u graduate at mq wiv an actuarial degree u juz have a degree.

if u get all ur exemptions (ie. credit and above in specified subjects) then u get your partII, and u can put AIAA after ur name.

then u go for ur part III and if u get thru u finally become FIAA.

i was under the impression FIAAs are 6 digit income gods who can juz get actuarial jobs overseas if they cant find work here...surprised theres FIAAs working as non actuaries o.0. They must feel pwned. All those yrs of hardcore studying and end up in same job as some finance guy haha. doh!

 

[flamin']

hate to rain on the actuarial parade... but most of us get paid jack crap for work. first year out is 40-50k... first year out invesment bankers can earn twice as much if you get in a decent firm like mac bank.

looks like bigredboof has got it all set =p

 

[RIZAL]

I tried getting IB vac work before I applied for the Actuarial position and in all honesty I think that IB is 10 times harder to get into.... maybe because it's more of a glamour job - billion dollar mergers and acquisitions, making deals, negotiating etc.....


PS: G/L IN 243 DUDES.

 

[aditya]

*heart beats at a rapid pace*

so bigredfoot... exactly what have you done and what have you got? as in what do u do at macbank? ur job description sorta thing!! fkn sounds mad man!

IB u need com/law otherwise its nearly imposssible to get into... maybe if u have relevant work experience + connections you could do it...

hey bigredfoot do you think people with science (advanced) mathematics and finance could get a job at macbank? because the course is like actuary and finance mixed, it gives mad quantitatve skills as well as strong finance skills? but is it recognised? :S

and also wat do u think of b economics? (syd or unsw) u think you could get into macbank with that?

 

[bigredboof]

*heart beats at a rapid pace*

so bigredfoot... exactly what have you done and what have you got? as in what do u do at macbank? ur job description sorta thing!! fkn sounds mad man!

IB u need com/law otherwise its nearly imposssible to get into... maybe if u have relevant work experience + connections you could do it...

hey bigredfoot do you think people with science (advanced) mathematics and finance could get a job at macbank? because the course is like actuary and finance mixed, it gives mad quantitatve skills as well as strong finance skills? but is it recognised? :S

and also wat do u think of b economics? (syd or unsw) u think you could get into macbank with that?

Ummm its bigredBOOF

I started at maq bank having done the first three subjects of actuarial degree. At the moment I currently do OTC documentation which involves preparing the contract for any OTC deals and I also do Japan Trade Support. It isnt related to actuarial at all, however its a learnoing experience and entry into the bank, and guaranteed career progression if your comitted. Plus, they look highly on actuarials as it is a tough degree
You dont just need a law/commerce degree for IB. There are soooooooo many positions in IB it isnt funny, and any degree will be able to get you in IB, just depends on where you want to go.
People with Maths and Finanve degrees would definitley get a job at Mac Bank. There is a whole department called Quantitatve Analysis which mainly do option pricing and models. There are heaps of people who have done maths degrees there who are in a variety of roles. Plus alot of the Traders have maths degrees. (if our considering being a trader! $$$$$$$)
Any degree will be able to get you in!!

 

[§eraphim]

Ummm its bigredBOOF

I started at maq bank having done the first three subjects of actuarial degree. At the moment I currently do OTC documentation which involves preparing the contract for any OTC deals and I also do Japan Trade Support. It isnt related to actuarial at all, however its a learnoing experience and entry into the bank, and guaranteed career progression if your comitted. Plus, they look highly on actuarials as it is a tough degree
You dont just need a law/commerce degree for IB. There are soooooooo many positions in IB it isnt funny, and any degree will be able to get you in IB, just depends on where you want to go.
People with Maths and Finanve degrees would definitley get a job at Mac Bank. There is a whole department called Quantitatve Analysis which mainly do option pricing and models. There are heaps of people who have done maths degrees there who are in a variety of roles. Plus alot of the Traders have maths degrees. (if our considering being a trader! $$$$$$$)
Any degree will be able to get you in!!

cool, i wanna b a trader or quant...or some combination of the two. i was under the impression that quants (quantative analysts) were not recruited from grad programs. a lot of them seem to have phds in maths/physics and r really good at programming in C. i guess that rules out most grads eh? -.-

how hard is it to get a job in derivatives trading/ quant work? is the pay any good? working conditions? i aspire to do something along those lines at UBS Warburg (biggest European bank and biggest options trader in Australian market!)

Does Macquarie bank give preference to honours students? like in applied maths, statistics or finance?

thanks ^^

below is sumthing about quants...does it apply to Australia? (i think its from the UK)

 

[bigredboof]

Sometimes there are grad positions on offer, but this is like hardly ever (not even once every year!!). Yes, alot of them have PHD's in maths and even engineering, and yes you have to know programming. (COMP115 is actually usefull as C++ is used!!!)

Pay is defintiely good for both of the jobs, however traders get big bonuses!!! after all, they are making money for the company!!! As for working hours, really depends on what market you work in. ie, australian markets have trading hours 10-4, obviously if you were working in european markets youd be doing the graveyard shift! But as far as I see, they dont work too long hours!! theres plenty of other people still around afer they have gone home!!

In regard to honours students, I really don't know???? But id assume any emplyer would look favourably on that

YEs, that quant info does apply in OZ

 

[§eraphim]

Sometimes there are grad positions on offer, but this is like hardly ever (not even once every year!!). Yes, alot of them have PHD's in maths and even engineering, and yes you have to know programming. (COMP115 is actually usefull as C++ is used!!!)

Pay is defintiely good for both of the jobs, however traders get big bonuses!!! after all, they are making money for the company!!! As for working hours, really depends on what market you work in. ie, australian markets have trading hours 10-4, obviously if you were working in european markets youd be doing the graveyard shift! But as far as I see, they dont work too long hours!! theres plenty of other people still around afer they have gone home!!

In regard to honours students, I really don't know???? But id assume any emplyer would look favourably on that

YEs, that quant info does apply in OZ

wats the typical base salary of a trader and a quant? how much r bonuses usually?

 

[bigredboof]

id say base for quant about $100K and a trader a little bit more.
Bonuses really depend on the company, but they can easily be 100% of salasry for a trader

 

[aditya]

omg bigredboof thanks alot man!!!!!

i cant describe to you how exciting this is !!!

what baout uts? does macbank frown upon uts?

 

[§eraphim]

id say base for quant about $100K and a trader a little bit more.
Bonuses really depend on the company, but they can easily be 100% of salasry for a trader

ive also heard that Macquarie Bank (MB) is quite generous in its remuneration as a large proportion is performance based. Does MB have some kind of a employee profit sharing plan? or share ownership plan?

 

[bigredboof]

i dont know why any company would care where you get ur degree from... provided you get one!!!

Yeah they have a profit share plan, and you can elect to put this in the form of shares

 

[Grizzly]

Mac bank have 3 positions open at the moment ... i applied for all 3 :uhhuh:

 

[bigredboof]

which ones?