science advanced (2 Viewers)

[Survivor39]

I am in medical science - second year (see my signature). I am picking microbiology, and genetics as my majors, not too sure which one, maybe both.
You can major in those two in Advanced science too but I chose Med science because I already knew what i wanted to major in and medical science offer a structured program.

Genetics and microbiology are both great in UNSW!

 

[ishq]

Any Idea about the UAI this time around? It was 92 at last check....

 

[Survivor39]

Any Idea about the UAI this time around? It was 92 at last check....

Last year was 92.8. I am assuming this year would be around 93.0 to 93.50. What UAI did you get?

 

[kunny funt]

im considering to transfer into commerce/science (finance and maths) from commerce

the BSc (Adv Sci) in Maths & Finance seems like a ptless degree as u dont seem to do enuff of the finance or the maths subjects. transfer tinto the combined degree at either UNSW or USyd as the subjects r the same and u dun waste ur uoc on Ged Eds or that shit Professional Ethics in Maths subject. PLus Complex Analysis is useless for Applied maths/Stats work.

the impression i got was that the BSc (Adv Sci) (Fins and Maths) students in my yr couldnt hack it when they were doing subjects with Actuarial ppl in MATHS and Actuarial/maths ppl in the COMP course. so, most of them changed their minds about it. Also, i know of <10 ppl doing comm/sci (fins and maths) (myself included). so it isnt a very popular choice. however, im encouraged to do it cz the former uni medalist did this.

so dun b so gung ho about fins and maths. u have to be fairly good at maths if u want to work in quant analysis at any bank (expecting PhD in stats or applied maths and an excellent working knowledge of C++) and the work isnt as crash hot as compared to traders on the front-line.

however, im planning to do this cz i wanna have a good general edcuation in case i wanna work as an actuary (considreing MActSt)

also, unsw is offering BSc (Adv Sci) in Advanced Maths this yr. There is also a lot of flexibility in this degree too if u get in.

why dont u just do actuarial? wats the reason for this courses lack of popularity ?

 

[kunny funt]

how does science/maths allow you to work as an actuary, does it give u exemption from part 1?

 

[ishq]

Last year was 92.8. I am assuming this year would be around 93.0 to 93.50. What UAI did you get?

Class of 2005.....!

be that as it may, can u compare syd and UNSW for this? or would your opinion be biased?

 

[Affinity]

how does science/maths allow you to work as an actuary, does it give u exemption from part 1?

Any degree could. Degree =/= Career

 

[Survivor39]

Class of 2005.....!

be that as it may, can u compare syd and UNSW for this? or would your opinion be biased?

Let me be less "bias"

USyd Med science:
Has to do first year subjects of 2 Physics, 2 Maths and 2 Chemistry. (and 2 bio preferably)

UNSW med science:
Has to do first year subjects of 2 Chemistry, 2 Biology and 1 Maths.

That's the basic difference between UNSW. Personally, I haven't done any year 11/12 physics, and would rather have a bit more freedom. And I don't have to do 2 maths. So for the free electives, I got to experience what psychology and philosophy is like!

If you were asking me about the Cut off, Usyd's cut off was 94 something?? I don't think it will go up that much, maybe to 95.0 - 95.5 max.

 

[§eraphim]

why dont u just do actuarial? wats the reason for this courses lack of popularity ?

as i said before, this degree does not lead to any professional qualification, eg for an actuary - AIAA, FIAA,etc. Ppl are discouraged by math degrees as they are usually percevied as leading to life as a poor scientist. however, math degrees are good preparation for actuarial exams as u get to build up some good quantitative skills. My first impression is that doing well at honours in maths is good preparation for students to sit actuarial exams externally.

 

[§eraphim]

how does science/maths allow you to work as an actuary, does it give u exemption from part 1?

u may get some exemptions for the early probability and stats courses. not for the rest though.

 

[Slidey]

Usually a phD in maths with experience will get you any kinda elite job in the corporate area (along with some commerce knowledge)

nail on teh head!

 

[Arkad]

A PhD in math doing finance is an inefficient allocation of human resources, there should be some specialised masters degree which trains better quants and in less time than a PhD.

 

[§eraphim]

they offer that now at unsw. the MFin (Mathematical Finance) - master of finance. MStat also has mathematical finance subjects too (Master of statistics)

 

[Arkad]

I see. I checked it up -- looks good. I think maybe I should have went to usyd instead, since their adv sci (math&fin) program is only 3 years short without the honours, but it wouldn't matter anyway because you're getting a masters in the end.

 

[§eraphim]

a good question - Which is better to study an undergard degree in Mathematical Finance - UNSW or USyd? Compare BSc (Adv) (Financial Mathematics) at Usyd to BSc (Adv Sci) (Mathematics & Finance) or BCom/BSc (Finance & Mathematics) at UNSW?

 

[Arkad]

at usyd adv sci or b.sci - 3 years without honours
at unsw adv sci - 4 years with honours based on performance
at unsw comm/sci - 4 years without honours

Usyd doesn't have a lot of information regarding their program thats why I didn't go there. Correct me if I'm wrong because I think unsw has the better program, and usyd was never too hot with finance.

 

[§eraphim]

i second that. unsw banking & finance is better.

 

[Arkad]

Maybe we're being impartial, it's no suprise since we choice unsw.

kunny funt: why dont u just do actuarial? wats the reason for this courses lack of popularity ?

Well these are just my opinions, I don't know if they are right. I think people who don't just do actuarial don't actually want to be an insurance man/woman. The lack of popularity could be due the confusion between actuarial and quant. Actuarial is the art of insurance pricing, while quant (financial mathematician) studies the science of the share market, such as option pricing, futures, ect.

Why would anyone pick insurance above shares? This I think is the other reason: the fact that the quantative analysis industry is not very well established in Sydney, the financial capital of Aus, and hence the lack of job opportunities. If Sydney was New York or London, this degree would have an uai of 99+, and the popularity would be through the roof. But to become a quant you'll need more than a bachelors degree just like actuarial, but quants don't have professional exams, so advanced qualification or experiences are needed. Thats why many people do PhD in math/physics/computing in the hope of becomming a quant, which I think is a waste of human resources.

But why the effort for a PhD? Because quant pays well, very well if you can get into the major companies in the states, million dollar salary is not uncommon, some get paid much much more. Even in Aus if you were to become a quant here, your salary should be much more than an actuarial. But as I said before, there aren't many opportunities around even with the tiny supply due to the lack of popularity.

I'm sure this would be too late to change your opinions about this degree since you already made the choice by now.

 

[§eraphim]

im aiming to start off as a quant too as im doing bcom/bsc (finance & stats). ideally id like to do a MSc while studying (paid by my employer of course! ). i think trader is another excellent role for those studying mathematical finance like myself.

quant jobs are extremely difficult to apply for on their own as usually they are only vacancies not new jobs being created and they demand those strong postgrrad qualifications and expertise in C++ programming. grad recruitment is the relatively easiest way in.

a word of advice to any of those people doing BSc (Adv Sci) (Mathematics and Finance). during my year most people enrolled in that course dropped out cz they didnt possess the calibre to handle the maths or computing. they got owned by actuarial-maths ppl. so its not easy.

 

[Arkad]

How many dropped out? So how good do you have to be or how hard do you have to work?

I am wondering if I am the only one who is enrolled in this degree, adv sci (math&fin) even though my uai was sufficient for the combined degree, b.com/sci.

I don't think many people actually know what a quant is yet; I guess a lot people who is studying engineering, computing, or even actuarial stds now at bachelors level will pursue this path as a post-grad.

Oh yeah, I agree, getting paid to study is the way to go.