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actuary career

  • 17-04-2014 9:54pm
    #1
    burtslimpslon
    Registered Users Posts: 73 ✭✭


    Hi, im looking at courses(CAO) and i noticed that finacial mathematics at university of limerick only requires a grade C3 in leaving cert maths(HL), this is also a course which can be taken to become an actuary(so it says and i hear). Is this a good course to become an actuary? Are there better courses?
    if so please name them(no courses exceeding 500 points please as im awful at langauges) thanks :-)


Comments

  • #2
    burtslimpslon
    Registered Users Posts: 73 ✭✭burtslimpslon


    Anyone?


  • #3
    ChemHickey
    Closed Accounts Posts: 3,479 ✭✭✭ChemHickey


    burtslimpslon wrote: »
    Anyone?

    Many maths courses you could do can potentially lead into actuary if you consider a postgraduate in financial/actuarial maths. In NUIG you can do actuarial modules within certain denominated maths courses (Mathematical Science, Financial Maths and Economics; both of which whose points I believe are still <500 and offer exemptions {you get some extra ones through Financial Maths and Economics than you would through Mathematical science}).
    Many specific actuary courses which lead directly/offer the most exemptions are in demand, such as the one in UCD whose points are in the high 500s.

    Even through general (un-denominated) science you may have options to take financial maths modules so it'd be something to look at in prospectuses or even email the colleges' math departments and inquire further.


  • #4
    eoins23456
    Registered Users Posts: 603 ✭✭✭eoins23456


    Financial maths / maths science in UL offers one exemption if you do four certain statistics models


  • #5
    Pythia
    Registered Users, Registered Users 2 Posts: 7,469 ✭✭✭Pythia


    Any maths course can lead to a job offer as an actuary. I would concentrate on a degree that you can do well at, as actuarial employers want people who have shown they are good at exams as you'll be taking a lot more of them!

    I wouldn't concentrate too much on the exemptions when choosing one over another.

    I did Economics and Finance in UCD (graduated quite a few years ago now) and I got two exemptions which meant I still had 13 exams to complete! I also didn't find it too hard to get an actuarial job with that degree.


  • #6
    Colonel Sanders
    Closed Accounts Posts: 7,669 ✭✭✭Colonel Sanders


    My employer (note it doesn't appear to be the market norm) prefers maths grads with minimal exemptions rather than a UCD/DCU grad with full exemptions. It's actually farcical now with UCD also giving CA1

    The difference in starting salary is not insignificant yet difference in experience minimal. We've also had the case that hiring a batch of UCD/DCU students can lead to a top heavy dept very quickly

    I specifically requested HR look at people without actuarial degrees when recruiting a grad for my team very recently


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  • #7
    Iwasfrozen
    Registered Users, Registered Users 2 Posts: 16,250 ✭✭✭✭Iwasfrozen


    Colonel Sanders wrote: »
    My employer (note it doesn't appear to be the market norm) prefers maths grads with minimal exemptions rather than a UCD/DCU grad with full exemptions. It's actually farcical now with UCD also giving CA1

    The difference in starting salary is not insignificant yet difference in experience minimal. We've also had the case that hiring a batch of UCD/DCU students can lead to a top heavy dept very quickly

    I specifically requested HR look at people without actuarial degrees when recruiting a grad for my team very recently
    You have just made my day.


  • #8
    Colonel Sanders
    Closed Accounts Posts: 7,669 ✭✭✭Colonel Sanders


    Iwasfrozen wrote: »
    You have just made my day.

    As I said this doesn't appear to be market norm however!


  • #9
    Justin1982
    Closed Accounts Posts: 328 ✭✭Justin1982


    I know a few of my class mates who studied theoretical physics ended up as actuaries. A pure maths degree would be probably the best for anyone considering getting into actuary without doing actuary degree straight off which requires the big points. There is a lot to be said for getting into actuary after doing maths degree or theoretical physics degree first (these are really top degrees in my opinion and give you the chance to get into other areas as well as actuary).

    As for Financial Maths degree in Limerick, it will give you foundation to get into financial engineering or quantitative finance which are really interesting careers and demand huge salaries if your good and ambitious. I work with some people who qualified as Actuaries and moved into Financial Engineering. The word from them was that financial engineering world is way more diverse and interesting. But that's just what I heard.

    As for who gets paid more, actuaries or financial engineers? I know one Actuary in NY and he doesnt get paid as much as finanical engineers I know in NY with the same years under their belt.


  • #10
    Colonel Sanders
    Closed Accounts Posts: 7,669 ✭✭✭Colonel Sanders


    I studied Maths in TCD, got one exemption (stats) and did the rest

    While sitting the exams I was sick I hadn't done the UCD/DCU course but now that I'm finished I'm glad I did (easy to be wise after the event of course). I definitely seem to have studied more theoretical stats etc than Actuarial grads & that helped me massively in my field (Capital Modelling)

    Thing is now UCD can give you CA1 which with the 8 CTs it shortens the exam slog significantly. As such it's not as easy a call for a leaving cert student any more. As I stated before my employer prefers non actuarial grads but from what I can gather its most certainly not market norm. I'm guessing consultancies want to get people qualified ASAP in order to charge more for them!


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