is Actuarial Studies really that boring?? (1 Viewer)

[ricespirit]

is the course Actuarial Studies boring or is being an actuary boring as well?

How come everyone says it's so boring?

Is it like really complicated and repetitive home loan calculations all day long or do you actually have to think?

thx in advance

 

[arjungamer123]

Actuarial Studies does not concern home loans. It's complex probability that they have to do. It has the highest freshman dropout rate.(freshman= 1st year)

 

[dvse]

It does require either an understanding of material (for which you need some thinking combined with quite a bit more math background than what is taught) or some dedication, good memory and solid exam technique. And indeed the curriculum hasn't quite caught up with the fact that it's not 1920s anymore and computers are everywhere, so there is a fair bit (10-20%) of manual 'home loan repayments' type calculations.

 

[Affinity]

The reason is:

actuarial degrees here are under b.commerce
people who go into b.commerce in general poo poo mathematics
Actuarial studies teaches alot of mathematics
most people doing the degree find it boring

 

[lou071]

is the course Actuarial Studies boring or is being an actuary boring as well?

How come everyone says it's so boring?

Is it like really complicated and repetitive home loan calculations all day long or do you actually have to think?

thx in advance

i have never heard that actuarial studies is boring.
but i heard that it is very hard.

 

[MasterPUA]

The reason is:

actuarial degrees here are under b.commerce
people who go into b.commerce in general poo poo mathematics
Actuarial studies teaches alot of mathematics
most people doing the degree find it boring

actuaries have an interesting approach to mathematics. i wouldn't say that actuarial studies teaches a lot of math. a lot of theorems/relationships/results from mathematics are USED but not TAUGHT.

The focus is on how useful the mathematical theorem/relationship/result is in practice. How that result was gotten in the first place is not as important as how the theorem can be used to model risk.

 

[Lightlessice16]

I would definitely think that actuarials can be hard and boring but definitely not being an actuary, tehy make so much money with an easy lifestyle work, hence have time and money for holidays, cars, which can easily compensate even if the person does find their job boring

 

[Affinity]

I would definitely think that actuarials can be hard and boring but definitely not being an actuary, tehy make so much money with an easy lifestyle work, hence have time and money for holidays, cars, which can easily compensate even if the person does find their job boring

So how much do you think they make?

 

[Lightlessice16]

So how much do you think they make?

If they get all 3 parts and pass the exams, most likely 150K+ with more than 5yrs of exp.
Over in the US, their are like 10 exams and the more you do them and pass, the more you can make and we're talking about 400K+ over there lol

though i reckon ppl shouldnt do actuaries just for the money becuase the drop-out rate is high and maths must be your forte and you still need marks that are better than average to actually gain a decent job position.

 

[BoganBoy]

Top students usually dont go into actuarial, if they are not a completely anti social. But instead they go into banking, trading, structuring or anything that a straight com student cannot do.

 

[Affinity]

If they get all 3 parts and pass the exams, most likely 150K+ with more than 5yrs of exp.
Over in the US, their are like 10 exams and the more you do them and pass, the more you can make and we're talking about 400K+ over there lol

though i reckon ppl shouldnt do actuaries just for the money becuase the drop-out rate is high and maths must be your forte and you still need marks that are better than average to actually gain a decent job position.

the 3 parts here are same as the 10+ exams in US in terms of length..

I don't know where you got the 400k figure from.. have a look at this:
Actuary Salary Survey - actuary jobs - D.W. Simpson & Company, Inc. , actuarial, actuaries, Employment, Salaries, Insurance, Statistics, Mathematics, FCAS, ACAS, ASA, FSA, Student, FCIA, FIA

that was for the US.. for australia it is lower:
http://www.qedactuarial.com.au/salary_survey_off/QED Aust Survey 2007 Report.pdf

150K+ with 5 years experience is quite achievable with many other jobs requiring the same level of effort

 

[Lightlessice16]

the 3 parts here are same as the 10+ exams in US in terms of length..

10 exams does not roll into 3

the US exams are much more difficult, and it may well take over 12yrs to get all of them but they have the potential to make alot more money

 

[Affinity]

10 exams does not roll into 3

the US exams are much more difficult, and it may well take over 12yrs to get all of them but they have the potential to make alot more money

if you look carefully, the first part here consists of CT1 to CT8, 2nd part is about 2 courses and the 3rd part is 3.5 exams.. adds up to 13.

Suggest you do some research before concluding which place has more demanding exams, download a past/sample paper...

 

[ascentyx]

Don't forget the professionalism course and the Practical Experience and Mentor Program.

 

[ks21]

I would definitely think that actuarials can be hard and boring but definitely not being an actuary, tehy make so much money with an easy lifestyle work, hence have time and money for holidays, cars, which can easily compensate even if the person does find their job boring

most actuaries enjoy their work (ur logic is prob more relevant for those doing dentistry). Actuarial is not for everyone, but if you find the degree challenging and interesting (also the ones who usually do well)....you will enjoy the type of work that comes with it.

 

[ks21]

Top students usually dont go into actuarial, if they are not a completely anti social. But instead they go into banking, trading, structuring or anything that a straight com student cannot do.

You need to have very good interpersonal skills to be a successful actuary, its all about conveying complex ideas/analysis in simple terms to non-actuaries within a organization. An actuarial degree is very highly regarded by investments banks and management consulting firms and definitely attracts bright students but it comes down to personal preferences (i know people who have topped courses and are also known as party animals working in actuarial firms). In the current economic climate, some of those IBers are probably regretting not going for a more traditional role (where job security is much much better).

 

[chiselwick]

LOL. I'm doing Actuarial Studies/Law at Uni. It's hectic as. It isn't boring. It's actually interesting (if you like a lot of chance games, finding out mortality rates, present values, excel spreadsheets, etc) and you do get a social life. The work load is huge ... but I guess that's because of the double degree I do.

It's interesting because it's not the shitty "what's the probability mary gets a blue marble out of a bag" like in HSC maths. It's more like.. "What's the probability Mary will survive to age 65, retire with a benefit of $45K and receive extra from an investment?" and at the same time you learn a lot about how the world works. My father's an optometrist but is heavily involved with a lot of finance sectors and things... so it's great to finally be able to understand what he's tlaking about and even debate!

The most boring parts would be the Excel spreadsheets (there's a billion to make --") and Statistics lectures. =X That's just because my lecturer's boring as. The content is pretty good.
If you enjoy maths.. it's a great course.

but.. I HIGHLY RECOMMEND LAW! (even though jurisprudence is a piece of shit) it's really interesting, you meet a lot of different people and you definitely get the chance to have your say.

A social life depends on how well you manage ANY course.

So..yeah.. Actuarial Studies is Great. You DO get a social life.. just not as much as someone doing say... arts. You WILL find that most of the time...people are going to the movies, shopping, etc during the week.. whille you're studying your ass off. But then again... you'll be the one laughing when you make like $60-70K before graduating while they're struggling with $33K. =)

 

[Bacchus]

LOL. I'm doing Actuarial Studies/Law at Uni. It's hectic as. It isn't boring. It's actually interesting (if you like a lot of chance games, finding out mortality rates, present values, excel spreadsheets, etc) and you do get a social life. The work load is huge ... but I guess that's because of the double degree I do.

It's interesting because it's not the shitty "what's the probability mary gets a blue marble out of a bag" like in HSC maths. It's more like.. "What's the probability Mary will survive to age 65, retire with a benefit of $45K and receive extra from an investment?" and at the same time you learn a lot about how the world works. My father's an optometrist but is heavily involved with a lot of finance sectors and things... so it's great to finally be able to understand what he's tlaking about and even debate!

The most boring parts would be the Excel spreadsheets (there's a billion to make --") and Statistics lectures. =X That's just because my lecturer's boring as. The content is pretty good.
If you enjoy maths.. it's a great course.

but.. I HIGHLY RECOMMEND LAW! (even though jurisprudence is a piece of shit) it's really interesting, you meet a lot of different people and you definitely get the chance to have your say.

A social life depends on how well you manage ANY course.

So..yeah.. Actuarial Studies is Great. You DO get a social life.. just not as much as someone doing say... arts. You WILL find that most of the time...people are going to the movies, shopping, etc during the week.. whille you're studying your ass off. But then again... you'll be the one laughing when you make like $60-70K before graduating while they're struggling with $33K. =)

OMG

Law AND Actuarial?

There is no common feature between them (oh well, there might be but hardly)... Your workload must be so hectic...

 

[chiselwick]

Hahah yeah, it's not so bad at the moment. It will get worse as time progresses lol.

Mmm, there IS a kind of link if you think about going into the commerce law side of things... and insurance policies, superannuation, bankruptcy... that kind of stuff.

 

[binary star]

From what i've heard, yes