Best degree for becoming an actuary?

Everywhere is saying different things. Some places say actuarial science as it has many exemptions and is the easiest and most direct route. Others say actuarial science is seen as a bit naff by top employers with all the exemptions etc and thus going for a maths degree is better. Others are saying the degree isn't so important just something quantitative i.e maths/stats/econ/physics etc. Would an actuarial science degree from Kent/Heriot-Watt/Cass (lower entry requirements) be better than e.g a maths degree from Warwick/Bath/Durham etc (higher) for becoming an actuary?

Reply 1

Sin Nombre

18

Either Maths or data science is probably the best.

Reply 2

AdamCor

15

At the end of the day if you want to become an actuary via the degree route, the only option is actuarial science. If you go through the maths/stats route, yes you will be more employable in other fields too, but you'll be 8 exemptions short, actuarial firms don't want to pay you an actuarial salary while you become an actuary, when they can just hire an actuarial science graduate for a actuary salary who is almost an associate of the IFOA.

Reply 3

ricooo54

8

If you're dead set on becoming an actuary, 100% actuarial science is the best. It offers exemption which enables you to start a career right after graduating. Sure, you could do a maths degree but you'll be 8 exams short. No employer will hire an actuarial graduate with no exams taken. The key thing here is only if you sure you want to become an actuary. If you're still not sure then perhaps going into a Maths degree will be better for you.

But don't let that put you off. An actuarial science degree is very much highly regarded and is not wholly subject specific to being an actuary. It gives you a very strong background in finance, maths and many others. If you choose a uni with a good range of electives, you won't be disadvantaged at all if you decide becoming an actuary isn't for you and you can still be in a very strong position to find non-actuary jobs. You should look at CASS in City university of London for the course as well. They offer a good mix of both theory and practical applications for the course,, something like other unis (LSE) do not do.

Reply 4

Josh burns

18

Original post by ricooo54

If you're dead set on becoming an actuary, 100% actuarial science is the best. It offers exemption which enables you to start a career right after graduating. Sure, you could do a maths degree but you'll be 8 exams short. No employer will hire an actuarial graduate with no exams taken. The key thing here is only if you sure you want to become an actuary. If you're still not sure then perhaps going into a Maths degree will be better for you.

But don't let that put you off. An actuarial science degree is very much highly regarded and is not wholly subject specific to being an actuary. It gives you a very strong background in finance, maths and many others. If you choose a uni with a good range of electives, you won't be disadvantaged at all if you decide becoming an actuary isn't for you and you can still be in a very strong position to find non-actuary jobs. You should look at CASS in City university of London for the course as well. They offer a good mix of both theory and practical applications for the course,, something like other unis (LSE) do not do.

Is what uni you go to going to affect your likely hood of getting a job.

I wanted to go LSE as it was seen as one of the best unis but whats putting me off is the money involved in living in london. will Going to another uni such as manchester hinder my chances of getting the best jobs?

Reply 5

ajj2000

20

Look at MORSE at Warwick. Thats a well known course and you can get lots of exemptions.

Reply 6

Josh burns

18

Original post by ajj2000

Look at MORSE at Warwick. Thats a well known course and you can get lots of exemptions.

Apparently they only take candidates doing furthur maths

Reply 7

ajj2000

20

Original post by Josh burns

Apparently they only take candidates doing furthur maths

Ah, ok. LSE were also going to require FM. Could you sit further maths privately on a year out? I think Manchester do a maths and actuarial course - you could check how many exemptions that gets. I don't think Southampton require further maths?

Reply 8

Josh burns

18

Original post by ajj2000

Ah, ok. LSE were also going to require FM. Could you sit further maths privately on a year out? I think Manchester do a maths and actuarial course - you could check how many exemptions that gets. I don't think Southampton require further maths?

Is doing MORSE even worth it? Whats the difference between MORSE and an economics and maths degree?

Reply 9

ajj2000

20

Original post by Josh burns

Is doing MORSE even worth it? Whats the difference between MORSE and an economics and maths degree?

Have a look on the course website. The Warwick MORSE course is very famous and somewhat unique. I believe that there are lots of options so hard to generalise, but it’s seen as more maths and stats based than maths / economics degrees.

Also - it’s a pathway to actuarial careers so you can gain a lot of exemptions for professional exams.

Reply 10

Doones

21

Original post by Josh burns

Apparently they only take candidates doing furthur maths

Original post by ajj2000

Ah, ok. LSE were also going to require FM. Could you sit further maths privately on a year out? I think Manchester do a maths and actuarial course - you could check how many exemptions that gets. I don't think Southampton require further maths?

Strictly speaking Warwick doesn't *require* FM for MORSE.
2 of their 4 offer options don't need FM.

"A level:
A*AA to include A* in Mathematics and A in Further Mathematics
or A*A*A + AS Level to include A* in Mathematics and A in AS level Further Mathematics
or A*A*A* to include Mathematics
or AAA to include Mathematics + 2 in STEP paper"

https://warwick.ac.uk/study/undergraduate/courses-2020/morse/

Best degree for becoming an actuary?

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