The Student Room Group

Actuarial Science

What sort of thing is this?

What sort of qualities does a person need for this career path?

I want to do a degree in Maths bSc (g100) from University of Birmingham or Wawrick, but realistically Warwick is out my reach.
Reply 1
Why are you interested in it if you have no idea what it is? Personally I would be bored to death but some people find it fascinating to make statistical models
(edited 13 years ago)
Reply 2
Original post by cybergrad
Why are you interested in it if you have no idea what it is? Personally I would be bored to death but some people find it it fascinating to make statistical models


££££££££££££
Reply 3
Original post by Tempa
££££££££££££



So you want a job just for the money, I think you will lead a sad life. Anyway as I said you will be making mathematical and statistical models for the financial industry, insurance organizations etc etc. If that's what floats your boat go for it.
Reply 4
To quote the actuarial professional body, actuaries make financial sense of the future. You need a solid foundation in mathematics and statistical theory, with working knowledge of accounting, economics, finance, insurance, risk, law, and certain other areas depending on where you specifically work within the actuarial world.

A huge motivation for entering the actuarial world is that it pays well, is a relatively non-stressful job, and enables a good work-life balance. It does, however, require a fair amount of further study after university.

You can find out an awful lot of information at: http://www.actuaries.org.uk/

In terms of the university, it doesn't really matter where you attend providing you're committed to becoming an actuary and can impress the firm you're applying for.

As for the qualities of the person, you need to be methodical, dedicated, and I'd say it certainly helps if you actually enjoy financial or statistical modelling. (Though to be fair, I've met very few actuaries who genuinely enjoy their job; most do it because it's something they're good at, it pays well, and they get to go home at reasonable times.)
Reply 5
Original post by cybergrad
So you want a job just for the money, I think you will lead a sad life. Anyway as I said you will be making mathematical and statistical models for the financial industry, insurance organizations etc etc. If that's what floats your boat go for it.


Can you briefly talk though the qualifications I need?

Thanks.
Reply 6
Original post by .ACS.
To quote the actuarial professional body, actuaries make financial sense of the future. You need a solid foundation in mathematics and statistical theory, with working knowledge of accounting, economics, finance, insurance, risk, law, and certain other areas depending on where you specifically work within the actuarial world.

A huge motivation for entering the actuarial world is that it pays well, is a relatively non-stressful job, and enables a good work-life balance. It does, however, require a fair amount of further study after university.

You can find out an awful lot of information at: http://www.actuaries.org.uk/

In terms of the university, it doesn't really matter where you attend providing you're committed to becoming an actuary and can impress the firm you're applying for.

As for the qualities of the person, you need to be methodical, dedicated, and I'd say it certainly helps if you actually enjoy financial or statistical modelling. (Though to be fair, I've met very few actuaries who genuinely enjoy their job; most do it because it's something they're good at, it pays well, and they get to go home at reasonable times.)


Which degree should I take?
Original post by Tempa
Which degree should I take?


A good numerate degree! Maths, chemistry, physics, stastics etc etc......
Reply 8
Original post by boromir9111
A good numerate degree! Maths, chemistry, physics, stastics etc etc......


A bach and masters in Maths?
Original post by Tempa
A bach and masters in Maths?


I imagine if you're gonna do masters, it would have to be concentrated in the area you wanna go into.....but it won't hurt your chances.....I would look to get exemptions from the exams once you get to uni.....that way, less exams to pass when you graduate!
Reply 10
Original post by boromir9111
I imagine if you're gonna do masters, it would have to be concentrated in the area you wanna go into.....but it won't hurt your chances.....I would look to get exemptions from the exams once you get to uni.....that way, less exams to pass when you graduate!


I don't understand what you mean?

So, if i do a bach in maths and a masters in actuarial science will that be right?
Original post by Tempa
I don't understand what you mean?

So, if i do a bach in maths and a masters in actuarial science will that be right?


http://www.actuaries.org.uk/becoming-actuary/pages/how-become-actuary

Take a look at it and it answers all your questions!
Reply 12
Original post by boromir9111
http://www.actuaries.org.uk/becoming-actuary/pages/how-become-actuary

Take a look at it and it answers all your questions!


Thanks :wink:
Original post by Tempa
Thanks :wink:


Thank .ACS. for the link :biggrin:
Reply 14
Original post by .ACS.
To quote the actuarial professional body, actuaries make financial sense of the future. You need a solid foundation in mathematics and statistical theory, with working knowledge of accounting, economics, finance, insurance, risk, law, and certain other areas depending on where you specifically work within the actuarial world.

A huge motivation for entering the actuarial world is that it pays well, is a relatively non-stressful job, and enables a good work-life balance. It does, however, require a fair amount of further study after university.

You can find out an awful lot of information at: http://www.actuaries.org.uk/

In terms of the university, it doesn't really matter where you attend providing you're committed to becoming an actuary and can impress the firm you're applying for.

As for the qualities of the person, you need to be methodical, dedicated, and I'd say it certainly helps if you actually enjoy financial or statistical modelling. (Though to be fair, I've met very few actuaries who genuinely enjoy their job; most do it because it's something they're good at, it pays well, and they get to go home at reasonable times.)


Thanks for the main link mate :wink:

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