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Actuarial science for invest banking??? watch

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    Im wondering if the degree would still be effective in any other areas of investment banking other than in Actuary Departments. Does having a degree in Actuary as opposed to a degree such as Economics or international finance bring your chances down when looking for jobs in investment banking.
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    Wouldn't bring your chances down as such but it wouldn't bring them up either. First question you will be asked at interview is "why don't you want to be an actuary anymore"
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    (Original post by Tokyoround)
    Wouldn't bring your chances down as such but it wouldn't bring them up either. First question you will be asked at interview is "why don't you want to be an actuary anymore"
    Are there (m)any actuary jobs in investment banks?
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    (Original post by Tokyoround)
    Wouldn't bring your chances down as such but it wouldn't bring them up either. First question you will be asked at interview is "why don't you want to be an actuary anymore"
    Thats a fair enough question But im wondering because I have a choice to either take Acturial science at cass where they have great links or economics at the same uni but its not cass. Either way I want the one that will give me the best chance of getting in IB and ive got about a day to decide.
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    (Original post by CD315)
    Are there (m)any actuary jobs in investment banks?
    Depends. Market for actuaries isn't as great as it used to be. Haven't looked myself for jobs recently but actuaries can usually be found in risk management or as pensions specialists for banks/asset managers that specifically offer such products and have budget/need for in-house actuaries instead of using consultants.

    (Original post by yaboy)
    Thats a fair enough question But im wondering because I have a choice to either take Acturial science at cass where they have great links or economics at the same uni but its not cass. Either way I want the one that will give me the best chance of getting in IB and ive got about a day to decide.
    To be honest with you, i don't think there is much point doing Actuarial science if you don't want to be an actuary. My point of view is that the main draw of the degree is to get exemptions. If you like maths then study maths.

    If you have no intention of becoming an actuary then study something you will actually enjoy, otherwise you will regret it when your friends are outside enjoying life and you are spending your days in the library and lectures.

    As has been stated many times in this forum and many others out there, degree choice bears little to no factor in "getting into IB", more important is the institution, and even more so, the individuals determination. I'd argue you're better off studying the more generic economics degree and strengthening your CV with ECs and as much work experience as possible.
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    (Original post by Tokyoround)
    Depends. Market for actuaries isn't as great as it used to be. Haven't looked myself for jobs recently but actuaries can usually be found in risk management or as pensions specialists for banks/asset managers that specifically offer such products and have budget/need for in-house actuaries instead of using consultants.


    To be honest with you, i don't think there is much point doing Actuarial science if you don't want to be an actuary. My point of view is that the main draw of the degree is to get exemptions. If you like maths then study maths.

    If you have no intention of becoming an actuary then study something you will actually enjoy, otherwise you will regret it when your friends are outside enjoying life and you are spending your days in the library and lectures.

    As has been stated many times in this forum and many others out there, degree choice bears little to no factor in "getting into IB", more important is the institution, and even more so, the individuals determination. I'd argue you're better off studying the more generic economics degree and strengthening your CV with ECs and as much work experience as possible.
    Well that pretty much put the nail in the coffin for me, guess actuarial is not the degree for me. Thanks for you help anyway
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    (Original post by Tokyoround)
    Depends. Market for actuaries isn't as great as it used to be. Haven't looked myself for jobs recently but actuaries can usually be found in risk management or as pensions specialists for banks/asset managers that specifically offer such products and have budget/need for in-house actuaries instead of using consultants.
    Ah yes, I see. Is there much of a difference in those sorts of actuaries and 'investment actuaries'? I assumed the latter was the sort you'd find in banks etc. (Excuse me if I'm using the wrong terminology - but I was reading up on an event which involved a talk from an investment actuary, as they put it)
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    (Original post by yaboy)
    Well that pretty much put the nail in the coffin for me, guess actuarial is not the degree for me. Thanks for you help anyway
    I'm not trying to put you off, it is a valuable degree but I want you to consider it from all angles. It's a specialised degree designed to help people become actuaries. Not the best comparison, but it's like studying dentistry and then going into something else, you will always be asked "why didn't you become a dentist", "how do you think your degree will help you in this field".

    If you don't have a good answer for these sorts of questions then forget about getting past the first round.
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    (Original post by yaboy)
    Well that pretty much put the nail in the coffin for me, guess actuarial is not the degree for me. Thanks for you help anyway
    Lol at letting 1 single post on a forum change the rest of your life
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    (Original post by Tokyoround)
    I'm not trying to put you off, it is a valuable degree but I want you to consider it from all angles. It's a specialised degree designed to help people become actuaries. Not the best comparison, but it's like studying dentistry and then going into something else, you will always be asked "why didn't you become a dentist", "how do you think your degree will help you in this field".

    If you don't have a good answer for these sorts of questions then forget about getting past the first round.
    Ive never wanted to be an actuary but I thought it may be a good degree to get into invest banking because of the link to risk management. The main reason is because the actuary degree is part of cass which has many links for internships etc and the other is econ which I prefer but it is not part of cass. That was pretty much the only thing keeping me from choosing econ but I guess it will be stupid of me to do actuarial now.

    (Original post by CoolStoryBroo)
    Lol at letting 1 single post on a forum change the rest of your life
    lol na been pretty much told by everyone that econ would be better but I didnt know whether to completely rule out choosing actuary because of the links the business school has. Delaying the inevitable basically.
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    (Original post by yaboy)
    Im wondering if the degree would still be effective in any other areas of investment banking other than in Actuary Departments. Does having a degree in Actuary as opposed to a degree such as Economics or international finance bring your chances down when looking for jobs in investment banking.
    do something you enjoy, you will have to do it for 3 years or more, as long as your degree is maths related you are fine for IB , just make sure you go to one of the top five unis, otherwise one of ones in the top ten atleast. good luck.
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    If its actuarial science at cass or economics at city I would pick the former.
 
 
 
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