A second degree in Acturial Science - I need some advice please

SharpshooterTom

Hi all,

I've got a bit of a dilemma here. I am currently repeating my a levels trying to get into Dentistry/Dental Science in the Republic (I'm from the north). I'm doing this because I have a 2.2 in Electrical & Electronic Engineering (so can't do graduate entry seeing as I don't have a 2.1).

However the points required for Dentistry are so high that I need 2A*'s and 2A's. I think I can get 4A's but A*'s are so hard to come by it feels like a lottery at times.

Because I'm not sure of getting my target grades I'm thinking of another career (which would be placed after my dentistry choices). I'm currently studying Maths, Further Maths, Chemistry and Physics.

Maths is easily my strongest subject, so I have thought about doing actuary as a career (because it would suit my strengths). I love working with people thats why I prefer dentistry, but I defintely could see myself doing actuary as well.

The problem I have, is it necessary for me to do another undergraduate degree for actuary?? I have seen Masters courses offering the CT1-CT8 exemptions in one year, but I've been told it next to impossible to get those done in one year.

I'm well into my a levels and will be finishing next year and so can't really go back now. I have no problem with the idea of untertaking another degree, genuinley because I think its going to take a significant amount of time to get those 8 exemptions anyway. But would it look a little strange/pointless to employers to undertake another degree given I already have an engineering degree?

I have to be applying to CAO 2015 anyway for dentistry (as its my first choice) but wondering how it will look to future employers that I chose to do another degree in actuarial science i.e. it may look 'unecesseary' and 'strange' (I will be making sure I get a first/2.1 this time round). I was just looking for some advice on this if possible on whether doing another degree is a good route for me.

Alice22

I am starting a 2nd degree in September. In a different field. I don't think it's the most unusual thing in the world if you want to change direction!
Wouldn't you consider doing the course up north where it's less expensive to live?

I am actually in the reverse situation to you - from the south - wanting to study in Belfast (where I live now.) I did not get accepted to my course -Occupational therapy - in Jordanstown as my Leaving Cert results were still being considered at the age of 29! So I need to do A levels or Access - after doing a degree - seems strange!
But as a Mature Student in the Republic, my Leaving Cert was not considered at all and I interviewed to get a place for September in Dublin. And some other places I wasn't even interviewed for at all. So, it really doesn't seem to be about grades after you turn 23 years.

You would need to check with your department, but there might be no need for you to repeat A levels if you want to study in the Republic. -But please check this out for yourself!

Best of luck with your applications!

andrew

I work with a lot of actuaries. My understanding is that some degrees will offer *some* exemptions from the Actuarial exams, but even after those degrees there are a good few exams to do. What people normally do, then, is get some sort of quantitative degree, and then work as a trainee actuary while finishing their actuarial qualification.

Engineering degrees are pretty maths intensive, right? In which case you're probably in a position to go ahead and begin the actuarial exams. I don't know if you'd be able to get employment as a trainee actuary without any exams under your belt though, so it looks like you'd have a slight limbo period during which you've not got enough actuarial exams under your belt in order to begin work as a trainee actuary.

Pythia

I am an actuary. I would advise you do not do an actuarial degree. You already have a degree and an aptitude for maths.

If anything, the postgrad degree will be enough. Yes, you absolutely will not get all 8 exemptions. But the purpose of the postgrad appears to be making people employable and not just gaining a few exemptions. You might get 4-5 if you kill yourself and that would be brilliant.

You would not be the only actuary with a bit of a back story. I know a lot of people who have entered later in life (mainly in their late 20s, 30s but even 40s too).

You could get a job without either the degree or postgrad, although a 2:2 unfortunately will not be super impressive. Very strong academics are needed to prove you are capable of passing exams when competing against the best. All As in the recent A Levels will look brilliant.

You could consider CT1 as a non member, to dip your toe into the actuarial exam water. It's one of the easiest and if you can easily pass it, it will show employers you can do the rest.

Worldwide and especially outside Ireland, most actuaries just do the exams from scratch. That's basically what I have done (I got two exemptions out of 15) and I am in track to qualify this year after starting in 2011. I think it is better to work and study - earn money while you take the exams and let your employer pay expenses rather than take out loans etc to do a second degree.

Happy to answer any questions you may have!

SharpshooterTom

Hi guys, I appreciate all the responses so far.

The problem is, as I've stated earlier, the sole reason why I'm (re)doing my a levels in the first place is to get into Dentistry in the Republic, no other reason initially apart from that. The problem is I'm not guareented to get 2A*'s/2A's so I have to consider a "back up", I don't want to make that sound disrespectful (I know it already has) but I'm going to be redoing these a-levels again anyway so I might as well make use of them in some way. Otherwise its going to feel like a complete waste of 2-3 years and I'm going to look like an idiot to employers, somebody who is dithering and confused.

@Pythia - if I were to do a second degree in acturial & financial studies at UCD, and get at least 2.1 or possibly even a first this time (and I think I can as I did absolutely no work last time) would it help in anyway at all and override my 2.2 in electrical engineering? I know you say its not advisable to do a second degree, but I was assuming the 4 years of the degree would help me get as many of those exemptions as I can, and also I can get some work experience I think during my degree (QUB is a 5 year sandwich course meaning everyone there has to do a year out, not sure about UCD). I'm happy enough to bide my time with regards to this, as you say my 2.2 as it stands will hurt me significantly, so I'm not sure what the future would hold for me after these a levels if I choose to not to use them and pursue another degree.

The argument however which I'm fully in agreement with you is the loans I need to take out in order to do this and the debt I will be sadly in again.

If I get an A* or two in my a levels, great I'll take the Dentistry course, but If I fail, I'm not sure what my next step should be.

Pythia

ThomasFlynn wrote: »

@Pythia - if I were to do a second degree in acturial & financial studies at UCD, and get at least 2.1 or possibly even a first this time (and I think I can as I did absolutely no work last time) would it help in anyway at all and override my 2.2 in electrical engineering? I know you say its not advisable to do a second degree, but I was assuming the 4 years of the degree would help me get as many of those exemptions as I can, and also I can get some work experience I think during my degree (QUB is a 5 year sandwich course meaning everyone there has to do a year out, not sure about UCD). I'm happy enough to bide my time with regards to this, as you say my 2.2 as it stands will hurt me significantly, so I'm not sure what the future would hold for me after these a levels if I choose to not to use them and pursue another degree.

The argument however which I'm fully in agreement with you is the loans I need to take out in order to do this and the debt I will be sadly in again.
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Have you thought a lot about applying for an actuarial postgrad? I know you have a 2.2 and most say 2.1, but I know in a lot of places, they do accept people with less than the stated entry requirements. There are some in the UK as well, if you are going to move anyway, maybe you could consider that...?

If you got good results in the postgrad, a lot of employers may look past the 2.2.

If you did do another degree, yes, I believe good results there would totally override poorer results in the past. It would basically solve all your problems. I'm just wondering is there a quicker and cheaper way to get to the same place.

UCD does work experience also, I know as I have a UCD intern sitting beside me right now. They come for a term + a summer so about 7 - 8 months and then do 3.5 years in classes. In the right company (hopefully mine, lol), I think work experience can be the most valuable part of the degree.

Do remember that even if you do the actuarial degree, you will have further study afterwards. You could be lucky and get all available exemptions and then pass everything that's left first time so maybe take 1.5 years post college, or maybe you don't get all the exemptions and fail a few exams and it could be 5 years post college. So then that would be 9 more years of taking exams from now.

I don't want to put you off, it's a great career and I find it hugely fulfilling, but it can be a long road to qualification.

Overall, I think a masters is your best shot at getting the actuary thing done (if you do choose actuary) in the most pain free way.