Actuarial vs Commerce (1 Viewer)

saksham21

New Member
Joined
Oct 25, 2020
Messages
20
Gender
Male
HSC
2021
Hi, I was debating over actuarial studies and doing commerce (majoring in finance/accounting). I was wondering what the job prospects are like for actuaries vs accountants and the difference in pay. Also, I was planning to try for a UNSW co-op in commerce. Would my job prospects be better by doing a co-op and how much higher would my salary be (if it would change at all)?
 

pikachu975

Premium Member
Joined
May 31, 2015
Messages
2,739
Location
NSW
Gender
Male
HSC
2017
From what I know:

1) Actuaries can diversify into many fields due to the skillset, e.g. risk analyst, data analyst, not sure about accounting.
2) Starting pay probably around the same?? Not sure about accounting but I think actuary starting is around 70k, but it scales much higher I think after getting part 2s/3s.
3) Accountants most likely to get replaced by AI while actuaries have some job safety due to requiring human judgement when making models for example.
4) Doing a co-op basically guarantees a grad job unless you completely bomb the internship and fail it, since you basically have 3 internships under your belt. Also high chance of one of the companies retaining you.
 

saksham21

New Member
Joined
Oct 25, 2020
Messages
20
Gender
Male
HSC
2021
From what I know:

1) Actuaries can diversify into many fields due to the skillset, e.g. risk analyst, data analyst, not sure about accounting.
2) Starting pay probably around the same?? Not sure about accounting but I think actuary starting is around 70k, but it scales much higher I think after getting part 2s/3s.
3) Accountants most likely to get replaced by AI while actuaries have some job safety due to requiring human judgement when making models for example.
4) Doing a co-op basically guarantees a grad job unless you completely bomb the internship and fail it, since you basically have 3 internships under your belt. Also high chance of one of the companies retaining you.
do you think it's worth doing a double degree in both actuarial and commerce to open up avenues into either field?
 

pikachu975

Premium Member
Joined
May 31, 2015
Messages
2,739
Location
NSW
Gender
Male
HSC
2017
do you think it's worth doing a double degree in both actuarial and commerce to open up avenues into either field?
Most people do a double degree with actuarial just to get the part 2 exemptions in 4th year, so you can do any 2nd degree based on your interests.
 

quickoats

Well-Known Member
Joined
Oct 26, 2017
Messages
969
Gender
Undisclosed
HSC
2019
do you think it's worth doing a double degree in both actuarial and commerce to open up avenues into either field?
It might be hard to satisfy both AIAA and CPA/CA requirements if you want to keep both options truly open.
 

Users Who Are Viewing This Thread (Users: 0, Guests: 1)

Top