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Questions about actuarial science course (statistics course) in LSE

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    Hey, I am planning to study the actuarial science course in the statistics department this september, but there are a few problems that concern me a bit, so please give me some information and advice.
    From what I have heard, some people in the tsr said that actuarial science is inferior to maths course, is it true? I thought this course in lse is similar to maths&stats course (quite academic, but that's why I applied for it).
    Secondly, I want to go into the financial sector but not the insurance, will this course restrict my job prospects in the future and am I better off switch to other courses like BMS or the Math&Eco?

    Thanks for all comments
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    The fact that it's LSE should give you at least a good edge in the financial sector.. Have you an offer?
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    Yes. I am planning to firm it as well, just want to double check about the job prospects in the future.
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    (Original post by bw-mendy)
    Hey, I am planning to study the actuarial science course in the statistics department this september, but there are a few problems that concern me a bit, so please give me some information and advice.
    From what I have heard, some people in the tsr said that actuarial science is inferior to maths course, is it true? I thought this course in lse is similar to maths&stats course (quite academic, but that's why I applied for it).
    Secondly, I want to go into the financial sector but not the insurance, will this course restrict my job prospects in the future and am I better off switch to other courses like BMS or the Math&Eco?

    Thanks for all comments


    (Original post by CD315)
    The fact that it's LSE should give you at least a good edge in the financial sector.. Have you an offer?
    Yea he has an offer.

    Can I ask why you don't want to work in the insurance sector but will work in the financial one ? Moral reasons ?

    I don't know much about these courses, I will hopefully start econ l101 this Sep, but if you go and compare the modules between courses on the LSE website then that should give you an idea as to how mathematical the actuarial course is.
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    (Original post by member910132)
    Yea he has an offer.

    Can I ask why you don't want to work in the insurance sector but will work in the financial one ? Moral reasons ?

    I don't know much about these courses, I will hopefully start econ l101 this Sep, but if you go and compare the modules between courses on the LSE website then that should give you an idea as to how mathematical the actuarial course is.
    oh, it's not that I don't or against entering the insurance sector, it's just personal preference really; if I have a choice, I will choose financial sector, it's my childhood target Sorry if it sounds a bit weird.
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    I don't know what you mean by "lesser" really. I was looking through the modules you have to study in Actuarial Science and now I think it's probably the hardest LSE degree out of all the economics/maths/stats/accounting/finance degrees. I don't particularly like it because there's so little choice in what you can study (unless you make special requests). I have some friends in the course who kind of do feel that they're limited by the title, one such friend is applying for Masters in Finance courses, 2 other friends switched to Maths + Economics in their 2nd year.

    I think you run the risk of always being asked "why did you study Actuarial Science if you didn't want to be an actuary?" if you go to any other job interview, but that's an easy question to answer ("I was young, didn't know what I was doing, but I've learnt good, transferable skills" ).

    It's definitely a respected course at LSE on par with Maths + Economics I'd say (it's certainly the best place in the UK to study Actuarial Science). But whenever I meet someone who tells me they're doing it though, I instantly think "yeah, as if you had any idea what an actuary REALLY does when you were 17 and applying for this course... you must be a complete tool", but that's just me :p:
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    (Original post by Swayum)
    I don't know what you mean by "lesser" really. I was looking through the modules you have to study in Actuarial Science and now I think it's probably the hardest LSE degree out of all the economics/maths/stats/accounting/finance degrees. I don't particularly like it because there's so little choice in what you can study (unless you make special requests). I have some friends in the course who kind of do feel that they're limited by the title, one such friend is applying for Masters in Finance courses, 2 other friends switched to Maths + Economics in their 2nd year.

    I think you run the risk of always being asked "why did you study Actuarial Science if you didn't want to be an actuary?" if you go to any other job interview, but that's an easy question to answer ("I was young, didn't know what I was doing, but I've learnt good, transferable skills" ).

    It's definitely a respected course at LSE on par with Maths + Economics I'd say (it's certainly the best place in the UK to study Actuarial Science). But whenever I meet someone who tells me they're doing it though, I instantly think "yeah, as if you had any idea what an actuary REALLY does when you were 17 and applying for this course... you must be a complete tool", but that's just me :p:
    Can I please ask how is your friends limited by the title of the course? Is it in terms of finding jobs where they got turned down for interview because of it (I hope this is not the case:eek:) or this restrict the choice in master? I'm actually planning to do a master in areas such as statistics or economics and maybe management.

    Went back to last Sept when I was choosing university and course, I was thinking about 'two birds with one stone', if I certain about being an actuary after 3 years of uni then I will have 7 exemptions already so fewer exams to go, otherwise I can still do a master in other subjects. My teacher told me that it doesn't matter what course you get in your degree as long as you get a first out of it then any profession is possible; maybe I was a bit over optimistic with it.
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    hi there. im currently studying actuarial science in LSE.

    a little about the course. First year, you'll basically be doin the same modules as everyone else (everyone else here refers to the students doing econ, math w/ econ, stats with finance, etc.) all really general stuff. you will only start actuarial modules proper from year 2 onwards. a word of warning, they are tough. some argue that it is the most difficult course at LSE but then again, apparently a third to 40% of students get a first at the end of it. So it probably isnt as unmanageable as you might think.

    Career-wise, it hardly matters what degree you have. during my time at LSE, I've spoke to bankers who did law, and math and philsophy, as well as an actuary who did history. Yes, history. I couldnt believe it when she first told me as well. So my suggestion is to choose a course which you really enjoy 'cause you tend to do better when you like the subject. they may ask the question 'why did you choose actuarial science' or 'why do you want to be in banking when u study actuarial science' that's just one of the motivational questions they like to ask. they just want to know why you want to get into banking. they'll ask them regardless whether you study econ or history. so dont worry about it.

    What matters most is a good degree (whichever it is), a great CV which shows you have other skills/talent/experiences outside academics and a good cover letter.

    Let me know if you have other questions. I'll try my best to answer you. If not, all the best for your exams!
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    (Original post by pgbow)
    hi there. im currently studying actuarial science in LSE.

    a little about the course. First year, you'll basically be doin the same modules as everyone else (everyone else here refers to the students doing econ, math w/ econ, stats with finance, etc.) all really general stuff. you will only start actuarial modules proper from year 2 onwards. a word of warning, they are tough. some argue that it is the most difficult course at LSE but then again, apparently a third to 40% of students get a first at the end of it. So it probably isnt as unmanageable as you might think.

    Career-wise, it hardly matters what degree you have. during my time at LSE, I've spoke to bankers who did law, and math and philsophy, as well as an actuary who did history. Yes, history. I couldnt believe it when she first told me as well. So my suggestion is to choose a course which you really enjoy 'cause you tend to do better when you like the subject. they may ask the question 'why did you choose actuarial science' or 'why do you want to be in banking when u study actuarial science' that's just one of the motivational questions they like to ask. they just want to know why you want to get into banking. they'll ask them regardless whether you study econ or history. so dont worry about it.

    What matters most is a good degree (whichever it is), a great CV which shows you have other skills/talent/experiences outside academics and a good cover letter.

    Let me know if you have other questions. I'll try my best to answer you. If not, all the best for your exams!
    Hey there. I'm stuck for choice between Maths with Economics and Actuarial Science in terms of what to apply for next year. I know they're rather similair but can you give me any points to help my choice?
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    (Original post by CD315)
    Hey there. I'm stuck for choice between Maths with Economics and Actuarial Science in terms of what to apply for next year. I know they're rather similair but can you give me any points to help my choice?
    Hey.

    Actually they are not similar at all. The first year modules are entirely the same, but from second year onwards it gets quite different.

    For actuarial science. u have got to love stats, or at least be good at it. if you look at the lse website, you will have at least 9 stats modules in the 2nd and 3rd year, some of them half units. but NINE! for instance, in the 3rd year, it's all stats. u will have 6 stats modules, 4 are half units. so in the summer term, u will have to revise for 6 exams, all stats. it's not even funny.
    and also, the course is designed for students to get exemptions of the uk actuarial board, so there is little flexibility in the course. all modules u do are fixed except for only 1 outside option in the 3 years (2nd year) where u can choose to do almost any module u fancy.
    Not trying to scare you off here. it is a tough course, but because it's tough, not many people are able to do it. so feels pretty good if u can.
    u will also be able to obtain a maximum of 7 exemptions from actuarial exams. So if u're pretty sure u wanna be an actuary then this course will be helpful.

    For math with econ. U will do modules related to either math or econ from 2nd year on. You will have more flexibility. in the 3rd year, u can choose any module but they'd have to be math/econ/stats related. not too sure 'bout the difficulty of the modules, but i'm sure they wouldnt be easy.

    u should be pretty sure by now which u like more or which you're better at. stats or math/econ. if not, read the descriptions of the various modules on the lse website and see what interests u (if any).

    hope this helped.
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    (Original post by pgbow)

    Hey.

    Actually they are not similar at all. The first year modules are entirely the same, but from second year onwards it gets quite different.

    For actuarial science. u have got to love stats, or at least be good at it. if you look at the lse website, you will have at least 9 stats modules in the 2nd and 3rd year, some of them half units. but NINE! for instance, in the 3rd year, it's all stats. u will have 6 stats modules, 4 are half units. so in the summer term, u will have to revise for 6 exams, all stats. it's not even funny.
    and also, the course is designed for students to get exemptions of the uk actuarial board, so there is little flexibility in the course. all modules u do are fixed except for only 1 outside option in the 3 years (2nd year) where u can choose to do almost any module u fancy.
    Not trying to scare you off here. it is a tough course, but because it's tough, not many people are able to do it. so feels pretty good if u can.
    u will also be able to obtain a maximum of 7 exemptions from actuarial exams. So if u're pretty sure u wanna be an actuary then this course will be helpful.

    For math with econ. U will do modules related to either math or econ from 2nd year on. You will have more flexibility. in the 3rd year, u can choose any module but they'd have to be math/econ/stats related. not too sure 'bout the difficulty of the modules, but i'm sure they wouldnt be easy.

    u should be pretty sure by now which u like more or which you're better at. stats or math/econ. if not, read the descriptions of the various modules on the lse website and see what interests u (if any).

    hope this helped.
    Thanks for the reply. That sounds like a lot of stats; considering I've only did one stats module its quite scary, even though it does interest me. What would you say is the most competitive course in terms of admissions? Obviously if I changed my mind it would be possible to switch after 1st year, am I right?
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    (Original post by CD315)
    Thanks for the reply. That sounds like a lot of stats; considering I've only did one stats module its quite scary, even though it does interest me. What would you say is the most competitive course in terms of admissions? Obviously if I changed my mind it would be possible to switch after 1st year, am I right?
    In general, I think all the econ, math/econ, and actuarial sci courses at lse are quite competitive. as for which is more competitive, im afraid i have no idea. All i can tell you is that for actuarial science, u can probably expect they take in approximately 70-80 students? dont quote me on that, just a rough estimate.

    u would have to talk to your department or academic advisor if u wish for a change of course at the end of the 1st year. Generally, it is easier if you're changing within the same department. If u're changing across departments, say from stats to econ, it might be more difficult. u would probably need to get like a 2:1 in your first year. then again, i havent done it before so when the time comes check with the relevant departments. if you've got a good grade in your first year, i dont see why not, since the modules in the first year are pretty much the same.

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