Actuary?

[Drunk]

Hey guys,
I've been thinking of trying to get into an actuarial studies course and I was wondering what you guys thought of it.
Is it mind-numbingly boring?
What do you guys think of the career itself? Is it pretty much just juggling numbers all day?

[tram]

do you really like maths? Is it what you are passionate about, i.e. is it your favorite subject?

[Drunk]

do you really like maths? Is it what you are passionate about, i.e. is it your favorite subject?

Yeah it is actually; so is that all that the job really involves? Making calculations?

This is a dead-end remark I'm making but actuary somehow make me think of trees and horticulture stuff.

Err... LOL

[pi]

Sorry to hijack, but what type of maths is involved? Is it like stats and stuff, or is it more like spesh (I'm considering this too)?

[tram]

stats & probabilty are the main culprits, for whihc calculus is defs needed

For more info check out http://vce.atarnotes.com/forum/index.php/topic,23875.0.html

I started that thread and got a lot of my questions anwsered there.

As for what working as an actuary is like, i would also know the anwser to that questions as i don't want to simply be sittting in a cubicle all day typing away at my keyboard entering data. I guess i'll soon find out more about the reality to being a actuary and just how true all the stereotypes are. There a quite a few sites that are metioned in that thread that are well worth a look at if you want to get a better idea of what being an actuary entails.

[chrisjb]

This is a dead-end remark I'm making but actuary somehow make me think of trees and horticulture stuff.

It makes me think of birds.

[Drunk]

stats & probabilty are the main culprits, for whihc calculus is defs needed

For more info check out http://vce.atarnotes.com/forum/index.php/topic,23875.0.html

I started that thread and got a lot of my questions anwsered there.

As for what working as an actuary is like, i would also know the anwser to that questions as i don't want to simply be sittting in a cubicle all day typing away at my keyboard entering data. I guess i'll soon find out more about the reality to being a actuary and just how true all the stereotypes are. There a quite a few sites that are metioned in that thread that are well worth a look at if you want to get a better idea of what being an actuary entails.

Cheers for the info,
So would that essentially mean that I wouldn't be making any money at all after uni and that I'd be leeching off of my parents for another 8 years?

[tram]

NOOOOOOOOOOOOOO after three years you're out and working! (making a lot of money i might add) you then study while you work, most employers will for pay for you to study and take the exams needed to become fully qualified

[Hutchoo]

SERIOUS?
WUAHDSADHASD.
I thought you just study for ~8 years .. unemployed?
So after the 3 years, you work as an actuary... but you're not qualified?
I don't really understand..
Also, I heard the demand for actuaries is like.. really low 0.o.

[Drunk]

NOOOOOOOOOOOOOO after three years you're out and working! (making a lot of money i might add) you then study while you work, most employers will for pay for you to study and take the exams needed to become fully qualified

REALLLY now? That's interesting - so as you go up each time, your salary gets larger?

Also, I heard the demand for actuaries is like.. really low 0.o.

Oh. Well that sucks. I hope that's not true

[tram]

There are three parts of exams. The first you pass at uni ^in the tree year bachelor course. The second you can choose to pass by doing a honors year at the end of your bachelor degree. The third part you have to do by yourself. If you come out of the bachelor degree you're already looking at a pretty decent salary that will increase the more senior you are, of course getin more qualified help increase your salary but it is not the only way to get an increase.

Hutchoo, where did you heard that the demand is low?? The demand for actuaries is actually extremely high, ^in the entire of Australia there Are only about 1000 actarys...

[Hutchoo]

Well, let me try and rephrase what I said..
The demand isn't low... but it isn't very stable?

Random friends have told me this.

[tram]

Well, let me try and rephrase what I said..
The demand isn't low... but it isn't very stable?

Random friends have told me this.

ummmmm well i don't profess to be the greatest authority on the job market but still am fairly sure that actuaries are in steady and strong demand, the constant the more uncertainty there is in the world the greater the need for actuaries to calculate and help manage the risk that exists. There are many financial jobs that are quite volatile but actuaries seem to be the exception due to the severe shortage of them.

[Gloamglozer]

According to what Professor Dickson (the guy that is in charge of actuarial studies at UoM), when I asked him about the Master of Actuarial Science, he said that that course only gives you exemption from Part 1 of the exam.

So if what he said is correct, you're better off doing a B.Com (Honours) in actuarial studies because then you've got exemption for Parts 1 & 2.

But I only asked him in person so my credibility is low.  Remember, this is uni.  Only the written mode can be used as official evidence.

[tram]

According to what Professor Dickson (the guy that is in charge of actuarial studies at UoM), when I asked him about the Master of Actuarial Science, he said that that course only gives you exemption from Part 1 of the exam.

So if what he said is correct, you're better off doing a B.Com (Honours) in actuarial studies because then you've got exemption for Parts 1 & 2.

But I only asked him in person so my credibility is low.  Remember, this is uni.  Only the written mode can be used as official evidence.

I disagree, getting an extra year ok work experience is wayyy more attractive to an employer than part two, they don;t have many ppl to choose from anyway.... (this is not just my opinion i've been told this by several graduates)