Is actuarial studies achievable?

[bae]

Hi guys,

I've been finalising my subjects and have chosen the actuarial stream to become an actuary. I feel like I am capable even though not having received overwhelmingly good scores in vce as my peers would have, although this is down to other reasons (bludging wagging). I have still been accepted though and I have an interest in maths (can grasp concepts easily etc) and business but from what I've read online the actuarial major has been made to look basically impossible. I have a keen interest to do it and will work hard for it (have to start from calc1 as I didnt do spesh) but want to know if it is achievable with hard work and dedication or is it just for a select few 'geniuses'?

Sorry if this is a dumb question but I'm abit stressed out in this timetabling period 

[extremeftw]

Only one way to find out!

[acinod]

Actuarial studies is definitely a lot of hard work.

Ever since I started, I have been surrounded by math geniuses that work way harder than me and my vce scores pale in comparison to theirs.
I remember my maths tutor once told me that you normally need a 42+ in spesh and 45+ in methods to be able to even cope let alone succeed and to be honest he does have a point.

BUT I have seen a very small number of people that are able to defy all odds and are seemingly doing fine now studying actuarial studies. They weren't the best at maths in high school but their hard work and interest kept them going through out uni. Just remember that uni is an opportunity to start again and if you really like maths then I say go do it! Life is pretty flexible now that you're in uni and you can always change your mind after

[bae]

Thanks so much man I needed that!  I'm determined to work hard and make my dreams a reality so I guess it's possible.

Also, due to not having done spesh, I'm doing calc 1 in sem1, and applied to do calc 2 as a corequisite with intro to actuarial studies as it is highly regarded. And then I think I have to do linear algebra over the summer term. Does this sound correct?

[Hutchoo]

Hi guys,

I've been finalising my subjects and have chosen the actuarial stream to become an actuary. I feel like I am capable even though not having received overwhelmingly good scores in vce as my peers would have, although this is down to other reasons (bludging wagging). I have still been accepted though and I have an interest in maths (can grasp concepts easily etc) and business but from what I've read online the actuarial major has been made to look basically impossible. I have a keen interest to do it and will work hard for it (have to start from calc1 as I didnt do spesh) but want to know if it is achievable with hard work and dedication or is it just for a select few 'geniuses'?

Sorry if this is a dumb question but I'm abit stressed out in this timetabling period 

First and foremost, if you work hard and smart, almost anything is achievable. If you work towards being an actuary but realise that you don't like it, you can exit out into other majors. You don't have to be a genius to be an actuary or to do a maths major at uni. You just have to work, that's it.

Also, to make you feel a bit better... I know a few guys who got low 30s for methods/spesh (even one who got <30 in both methods and spesh) and they all have a high GPA/WAM and they are maths/actuarial majors. They just got hired in the industry too.

Don't second guess yourself. Do what you want to do, and work hard and smart for it.

Good luck!

[bae]

Thanks a lot man, your advice is very much appreciated

[UniMelbourneActuarialS.S.]

Hi Bae!
As everybody else here has said, doing well in actuarial studies is definitely something you can achieve with hard work regardless of your background thus far. Past successes in maths are nowhere as important as your current desire to work hard.
You are absolutely correct in your suggested pathway for first year, and it is definitely the recommended choice.
In your first semester, you will have to do Introductory Microeconomics and Accounting Reports and Analysis as core commerce subjects, as well as calculus 1 and a general breadth subject.
In your second semester, you will have Introductory Macroeconomics and Introductory Financial Accounting to complete, as well as Calc 2 for your breadth. Introduction to Actuarial studies, while not compulsory, is definitely strongly recommended, if only to give you insight into what being and actuary entails.
Regardless of whether or not you choose to continue, going with the actuarial pathway in first year will give you a strong and broad base for your BCom degree, and you will be free to choose whether or not you want to continue without incurring any financial or academic penalties. Besides, you won't know whether it's for you until you try it!
Feel free to have a read of our subject review as well if you want to know what the subjects in actuarial studies cover http://www.melbourneactuary.com/study/subject-review/
Good luck!
ASS Representative

[bae]

Thanks, will do!