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Actuary or Quantitative Business at UCD

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  • 27-09-2016 9:07pm
    #1
    Joe Strummer
    Registered Users Posts: 3 ✭


    Hi, I am currently in 6th year and uncertain as to what I will pursue in college. I am very interested in an Acturial degree but also considering Quantitative Business (specifically Economics and Finance). I would be interested in progressing into Investment banking. I understand this is an extremely competitive area and would need top grades to get a look in in any top firms. I'm doing Physis, Applied Math and Honours Maths. If all the exams go well I could get H1s in all of these. Basically I'm in need of advice on what path is best to pursue to get into the area of investment banking.
    Any advice is appreciated.
    Thanks
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    #2
    Boardzee
    Registered Users Posts: 42 ✭Boardzee


    If you want to go into investment banking - Quantitative Business. If you're unsure between going down the actuarial or investment banking path, do the Actuarial and Financial Studies degree. I did the latter and work as an actuary, but I could walk into an investment banking job in the morning if I wanted. There is a lot of overlap between the two courses.

    But if you're sure, Quantitative Business will be better because you can try an investment banking work placement for 3rd year and you can focus more on the financial side of things.


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    #3
    Joe Strummer
    Registered Users Posts: 3 ✭Joe Strummer


    Yeah, i'm leaning towards actuary, i have been researching into investment banking a lot lately and am quite turned off. Work-life balance seems non existent in IB and for the hours analysts and associates work the pay is not that appealing. Naturally actuaries work very hard but the work seems a lot more rewarding.


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    #4
    daretodream
    Registered Users Posts: 149 ✭✭daretodream


    Joe Strummer wrote: »
    Hi, I am currently in 6th year and uncertain as to what I will pursue in college. I am very interested in an Acturial degree but also considering Quantitative Business (specifically Economics and Finance). I would be interested in progressing into Investment banking. I understand this is an extremely competitive area and would need top grades to get a look in in any top firms. I'm doing Physis, Applied Math and Honours Maths. If all the exams go well I could get H1s in all of these. Basically I'm in need of advice on what path is best to pursue to get into the area of investment banking.
    Any advice is appreciated.
    Thanks

    Out of interest, can I ask what are your other subjects? Keen on Actuarial route also + will be picking myself soon...


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    #5
    Boardzee
    Registered Users Posts: 42 ✭Boardzee


    Joe Strummer wrote: »
    Yeah, i'm leaning towards actuary, i have been researching into investment banking a lot lately and am quite turned off. Work-life balance seems non existent in IB and for the hours analysts and associates work the pay is not that appealing. Naturally actuaries work very hard but the work seems a lot more rewarding.

    I'd strongly agree. I've friends working in IB, they usually start around 0630 and it wouldn't be uncommon for them to be in work until after 1800. They find the work interesting but it's difficult to have a life outside of that. And you realistically have to relocate to London. Actuaries do work hard but it's a lot more 9 to 5 if you want it to be, I still get to play sport so it's great!

    One thing to flag about the actuarial path is the exams after college. You're looking at a minimum of two years after college if you're extremely lucky to get all exemptions in UCD and pass everything first time (pass rates for exams are 40-50%), it takes most people 3-5 years after college to finish. Most companies are really supportive however with study days etc. Feel free to give me a shout if you've any questions.

    To the other poster above: don't worry too much about subjects, pick whatever you think you'll get the most points from. There are no subjects that will put you at any advantage/disadvantage.


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    #6
    Joe Strummer
    Registered Users Posts: 3 ✭Joe Strummer


    Chemistry and German daretodream. As Board said pick the subjects you enjoy and will do well in.

    Thanks for the advice board, very helpful.


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    #7
    pumpkin4life
    Registered Users Posts: 1,435 ✭✭✭pumpkin4life


    Quantitative Business is more broad, Actuarial Science is more specialized. If you want to be an actuary, study Actuarial Science. If you don't know, go for Quantitative Business.

    Was looking through the modules there for Quantitative Business and you can get a number of actuarial exemptions anyway, depending on what modules you pick. Add in electives, and you could have a Quant Business/Actuary hybrid thing, so you can go down that route later on if you want.

    You'll be fine either way, they'll both get you a job.


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    #8
    GingerLily
    Registered Users Posts: 4,767 ✭✭✭GingerLily


    pumpkin4life wrote: »
    Quantitative Business is more broad, Actuarial Science is more specialized. If you want to be an actuary, study Actuarial Science. If you don't know, go for Quantitative Business.

    Was looking through the modules there for Quantitative Business and you can get a number of actuarial exemptions anyway, depending on what modules you pick. Add in electives, and you could have a Quant Business/Actuary hybrid thing, so you can go down that route later on if you want.

    You'll be fine either way, they'll both get you a job.

    An financial and actuarial degree is extremely attractive for a lot of highly skilled technical jobs outside of actuary, employers really look on it favorably.
    I do not work as an actuary but most of my co workers are actuary, enginering and physics degree graduates.


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    #9
    Boardzee
    Registered Users Posts: 42 ✭Boardzee


    pumpkin4life wrote: »
    Quantitative Business is more broad, Actuarial Science is more specialized. If you want to be an actuary, study Actuarial Science. If you don't know, go for Quantitative Business.

    I'd disagree here. If you don't know, I'd recommend the actuarial degree. It's easier to go from actuarial into something non-actuarial than vice versa. People do it, but it usually means doing a year long actuarial postgraduate course which is very intense if you want to pass all the exams. If you decide you don't want to be an actuary at the end of the four years, you'll easily pick up some non-actuarial work.


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    #10
    daretodream
    Registered Users Posts: 149 ✭✭daretodream


    Joe Strummer wrote: »
    Chemistry and German daretodream. As Board said pick the subjects you enjoy and will do well in.

    Thanks for the advice board, very helpful.

    Just reading back over this...I made my subject choices and it turns out they were almost identical as I chose chemistry, german + accounting in the end (as well as physics and applied maths)! Best of luck in your exams.


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