Actuarial Science or Maths or what?!
I am struggling to make a choice between what to do in Uni. I feel as if I should do something to do with maths where I feel I will do well, so naturally I did a bit of research and found out actuaries get paid a lot! Of course this attracted me to actuarial science.
In AS, the grades I got were Maths-B (1 mark off an A), Accounts-C, Economics-B, Physics-C. I have dropped physics in my final year and started to do AS further maths. I reckon I'll end up with AAB with a A/B in AS further maths.
So far I have picked out 4 Uni's for actuarial science (Southampton, Kent, Kingston and Heriot-Watt). I also have also picked Queen Mary's for maths. I have been told that it will be extremely hard to write a personal statement for both.
Ideally, I want to to a degree involving maths, have fun while doing it and get a job at the end that pays very well.
Would love to hear someone's thoughts on this
In AS, the grades I got were Maths-B (1 mark off an A), Accounts-C, Economics-B, Physics-C. I have dropped physics in my final year and started to do AS further maths. I reckon I'll end up with AAB with a A/B in AS further maths.
So far I have picked out 4 Uni's for actuarial science (Southampton, Kent, Kingston and Heriot-Watt). I also have also picked Queen Mary's for maths. I have been told that it will be extremely hard to write a personal statement for both.
Ideally, I want to to a degree involving maths, have fun while doing it and get a job at the end that pays very well.
Would love to hear someone's thoughts on this
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I personally would go for maths (I am) as like you, I have been attracted to the field of actuarial work, but would rather do a degree in maths as it would open up more doors for me than a degree in actuarial science. As long as you have a good A level in maths, you can go into actuarial work regardless of your degree (e.g. music degree can get you in) whereas you cannot go into engineering with an actuarial science degree.
The only benefit of doing an actuarial science degree is that it provides you with exemptions from some exams, although you do get pay rises with each exam passed and I'm not sure if you'd get that without sitting the exam...
So yeah, if you think you'd enjoy it, I'd go for maths. From your post I see you were mainly attracted to actuarial work by the pay, which although is good, you have to work for. Actuaries use a lot of maths and therefore if you dont like maths, you wont like actuarial work
The only benefit of doing an actuarial science degree is that it provides you with exemptions from some exams, although you do get pay rises with each exam passed and I'm not sure if you'd get that without sitting the exam...
So yeah, if you think you'd enjoy it, I'd go for maths. From your post I see you were mainly attracted to actuarial work by the pay, which although is good, you have to work for. Actuaries use a lot of maths and therefore if you dont like maths, you wont like actuarial work
"but would rather do a degree in maths as it would open up more doors for me than a degree in actuarial science."
Spot on I think. Your aspirations and ambitions may change in the next three years - dont close doors for yourself by doing too specialised a degree at this stage. You can always narrow down the focus at p/grad level.
Spot on I think. Your aspirations and ambitions may change in the next three years - dont close doors for yourself by doing too specialised a degree at this stage. You can always narrow down the focus at p/grad level.
I do like maths and my options at the moment are either a maths or actuarial science degree. I was originally going to go for a maths degree as it keeps my options open, but when I saw that by doing the actuarial science degree I would be exempt from exams, I thought why not. It's not a bad profession to enter hey...
Original post by DSekhri
I do like maths and my options at the moment are either a maths or actuarial science degree. I was originally going to go for a maths degree as it keeps my options open, but when I saw that by doing the actuarial science degree I would be exempt from exams, I thought why not. It's not a bad profession to enter hey...
Original post by DSekhri
And I don't believe doing an Act. Sci. degree would be that bad instead of maths. I could still enter another profession if I suddenly went of becoming an actuary.
You seem to have answered your own question there. However, although you could enter another profession, as I and returnmigrant have said, you are limiting yourself in terms of prospects as compared to doing a maths degree
To a point it may matter. A 1st from Oxbridge/Imperial/LSE/Warwick may look better against a 2:1 from Sheffield/Southampton/Glasgow, especially as some companies recruit from top unis. If however, you get work experience and can prove you will be a valuable employee, then it doesn't matter that much. Work hard regardless of the institution and you will go far.
Original post by DSekhri
Is it easy to get work experience/an internship when at Uni?
Go on companies websites, they usually have a link to internships/work experience placements.
You could also ask companies in your area if there are any
Original post by ekudamram
I personally would go for maths (I am) as like you, I have been attracted to the field of actuarial work, but would rather do a degree in maths as it would open up more doors for me than a degree in actuarial science. As long as you have a good A level in maths, you can go into actuarial work regardless of your degree (e.g. music degree can get you in) whereas you cannot go into engineering with an actuarial science degree.
The only benefit of doing an actuarial science degree is that it provides you with exemptions from some exams, although you do get pay rises with each exam passed and I'm not sure if you'd get that without sitting the exam...
So yeah, if you think you'd enjoy it, I'd go for maths. From your post I see you were mainly attracted to actuarial work by the pay, which although is good, you have to work for. Actuaries use a lot of maths and therefore if you dont like maths, you wont like actuarial work
The only benefit of doing an actuarial science degree is that it provides you with exemptions from some exams, although you do get pay rises with each exam passed and I'm not sure if you'd get that without sitting the exam...
So yeah, if you think you'd enjoy it, I'd go for maths. From your post I see you were mainly attracted to actuarial work by the pay, which although is good, you have to work for. Actuaries use a lot of maths and therefore if you dont like maths, you wont like actuarial work
You can't get into every actuarial firm with just A level in maths, quite a few actually require a maths inclined undergrad subject such as physics, engineering, economics, etc. I agree about doing maths if unsure about career prospects.
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Original post by pappymajek
You can't get into every actuarial firm with just A level in maths, quite a few actually require a maths inclined undergrad subject such as physics, engineering, economics, etc. I agree about doing maths if unsure about career prospects.
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This was posted from The Student Room's iPhone/iPad App
True, although if you don't have a degree in a numerate subject you do need an A level in maths to at least a B (realistically an A). However, my point was rather that OP shouldn't just do an Actuarial Science degree on the fact it will gain exemptions, as if he does change his mind he's narrowed his prospects somewhat.
Original post by DSekhri
Does a year in industry cost another years tuition fees?
If you found Maths a breeze at A-level (it would be for you if you are naturally good as you said) then consider a Maths degree. Look at the Further Maths syllabus and see if you could cope well (ask people about it etc.). If you could cope, then do a Maths degree. However, if you love statistics then consider Actuarial science as it involves working on stastical models and probability. However, Maths can be seen as a better degree by some employers of Actuary firms. More options: Maths More statistics/probability/wanting to only be an actuary: Actuarial Science.
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I would do a maths degree for the reasons already said. The only time I would consider an Actuarial Science degree is:
- If you are certain the only thing you want to do with your life is work as an actuary
- You hate exams with a passion and under-perform in them
- Your course gives you a ton of exemptions (I wouldn't consider CT1-8 as a ton of exemptions).
Basically, no 3 year undergrad course fits the last criteria as far as I'm aware. I agree that you can do a multitude of things with an Actuarial Science degree beyond working as an actuary, but why would you want to limit yourself at this stage? Doing an actuarial degree does not guarantee you a job at the end.
- If you are certain the only thing you want to do with your life is work as an actuary
- You hate exams with a passion and under-perform in them
- Your course gives you a ton of exemptions (I wouldn't consider CT1-8 as a ton of exemptions).
Basically, no 3 year undergrad course fits the last criteria as far as I'm aware. I agree that you can do a multitude of things with an Actuarial Science degree beyond working as an actuary, but why would you want to limit yourself at this stage? Doing an actuarial degree does not guarantee you a job at the end.
I'm in pretty much the same position as you with options and doing AS further maths too!! I've set my mind on doing actuarial science 
Original post by shamika
I would do a maths degree for the reasons already said. The only time I would consider an Actuarial Science degree is:
- If you are certain the only thing you want to do with your life is work as an actuary
- You hate exams with a passion and under-perform in them
- Your course gives you a ton of exemptions (I wouldn't consider CT1-8 as a ton of exemptions).
Basically, no 3 year undergrad course fits the last criteria as far as I'm aware. I agree that you can do a multitude of things with an Actuarial Science degree beyond working as an actuary, but why would you want to limit yourself at this stage? Doing an actuarial degree does not guarantee you a job at the end.
- If you are certain the only thing you want to do with your life is work as an actuary
- You hate exams with a passion and under-perform in them
- Your course gives you a ton of exemptions (I wouldn't consider CT1-8 as a ton of exemptions).
Basically, no 3 year undergrad course fits the last criteria as far as I'm aware. I agree that you can do a multitude of things with an Actuarial Science degree beyond working as an actuary, but why would you want to limit yourself at this stage? Doing an actuarial degree does not guarantee you a job at the end.
Is it just as easy to get into the actuarial profession with a maths degree?
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