Uni Stuff > Actuarial Studies
Actuary?
pi:
BTW, I'd recommend all actuarial-wannabees to have a look at BORED already? Want to learn a bit of maths? :P just to keep you mathematical throughout the holidays :)
Greatness:
--- Quote from: HighLatency on November 17, 2012, 03:52:43 pm ---Anyone know if you have to do accounting subjects like reports and analysis for first year? It was just on the sample course on the melbourne uni site
--- End quote ---
Yep, Accounting Reports and Analysis and Accounting Transactions and Analysis are both prerequisite units! Whatever the sample course plan is, will pretty much be the route you will take no ifs, no buts. The only difference is which breadth units you take, but if you fail a unit and you can't do it during summer then your course may be extended another semester or two since a lot of units are prerequisites for following units - also, there are a couple of units that require a certain score in the previous unit to continue or an average across 2 prerequisite units so you have to keep that in mind! Also for accreditation purposes you will need to average a 73 or 75 across certain subjects as well. First year is alright to get done if you do the work required, however I imagine the workload and stress would increase by a lot in 2nd year - as that is where most of the accreditation and prerequisite units start.
sheepgomoo:
I'm just going to throw in a few comments here..
My brother studied actuary at UoM and said that more than half the class dropped out after first year; more again after second year. I'm not saying that dropping out of the course is a bad decision, but please consider whether or not you'll be able to cope with the workload. From what I've heard, its on a totally different level to VCE.
My brothers working now at an insurance company whilst taking his exams and yes, the pass rate is quite low... But depending on which company you work at, they give you study leave and increased wages if you pass a paper.
All that said, even if you really are good at what you do, its a tough job, because everyone starts relying on you and your workload doesnt decrease. My bro complains all the time about how he has loads of study leave but cant take them because he has a responsibility to finish his projects at work whilst studying at the same time.
So like what everyone else has said, you have to be passionate for maths and have a definite goal if you want to do actuary, imo.
spectroscopy:
does anyone know what sort of hours actuaries work and what they get paid? ive heard its a hard slog for decentish pay but you guys would know better than me
Greatness:
--- Quote from: inspectorfletcher on November 17, 2012, 10:05:17 pm ---does anyone know what sort of hours actuaries work and what they get paid? ive heard its a hard slog for decentish pay but you guys would know better than me
--- End quote ---
Not 100% sure, but it's not as hectic as other professions. From what I've read it's probably around 40-50 hours. If you're still studying to become fully qualified you will have to juggle study with work, so the workload will be fairly high. They get paid A LOT. Fully qualified actuaries can earn 150k+ a year, not including bonuses - I've seen charts where they show salaries hitting 400k+ but these guys have 20 years+ experience and are the big boys in the firms/companies. In the end, it depends on your qualifications, your role/job and where you work.
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