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Business The Truth about Actuarial Science, It is not only about the Math

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OnionII
post May 18 2010, 02:20 PM

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you can never get into a subject just because of maths cause even engineering is not all about maths. there's physics, chemistry and lab skills as well.
what type of maths do you love?
for actuarial studies, its a shitload of statistics and finance. not the mean, mode, median kind of statistics but the abstract kind of statistics (ie stochastic modelling) and finance kind of statistics (ie: financial maths, life contingencies...)
I HATED THEM ALL but i'm already graduating so... ya. how many person in the world actually reallyyyy love their job anyway?
OnionII
post May 19 2010, 08:12 PM

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QUOTE(danes007 @ May 19 2010, 04:07 AM)
Yes. It's true that maths alone would not be sufficient enough for any field but there are some fields that require more mathematical skill than others. I love the probability/mathematical reasoning/linear programming types of maths. I am actually interested in finance stuffs. Yea, i also heard about it. the stochastics modelling,black and scholes formula and people are telling that statistics are one of the worst things one could possibly studies. Most of the feedbacks i got about this course are negative one. That makes me rethink. And, i came up with another course, which is financial engineering. Currently offered at mmu only in Malaysia if i'm not mistaken. So, you are an actuarial science student? Can i knw where are you studying and how the whole course is from u're experience? thanks.
hello are you still in high school or are you a college student already?
im currently studying at the australian national university and... i would say its a pretty horrible experience for me cause i hate complicated and abstract stuffs...... and pretty much all the later year subjects are complicated and abstract. if i would've been given a second chance, i'll just go for accounting. actuarial's a little too ambitious for me :/
but still, its up to personal preference. i know people who loved it and does very well in it.
so ya, it isn't an easy course, but i guess with hardwork.. its doable. i guess. *inserts skepticism*

oh and im not very sure about financial engineering. it might be something similar to quantitative finance... which is rather close to actuarial, minus all the insurance focused subjects like life contingencies, actuarial techniques, survival model, risk theory bla bla. well thats what happen in my uni so im not sure if its the same in mmu!

This post has been edited by OnionII: May 19 2010, 08:14 PM
OnionII
post May 20 2010, 07:59 PM

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QUOTE(danes007 @ May 20 2010, 11:53 AM)
What are the job prospects available in financial engineering field and which one is most desirable in term of work,salaries, working hours, and demands. Does this kind of jobs depends on economical state of a country? does it means that it is not a very stable field and one might lose their job under economic crisis? If you compare financial jobs with engineering jobs, which one would you say better overall? I'm so confused here.  rclxub.gif Thanks for your opinion.


Added on May 20, 2010, 1:13 pm
I just finish my secondary school. Now, choosing the right college/uni to enter. Oh, so u're studying in Australia, what do you think about engineering field? If compared financial field and engineering field, which 1 would you suggest and why? How's an actuarist's job? Is it interesting? Or just spending the whole life in excel with statistics and all that? thanks.
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any job is risky (well, maybe not doctors) when theres an economic crisis.
and sorry i lost you there. your term 'engineering' refers to financial engineering or the mechanical/civil type of engineering? but anyway,
define interesting. cause some people find fishing interesting while alot don't. it depends on how much you like it seriously. i like shopping so i think a job as an actuary is damn boring. but if you work as a consultant actuary, you get to talk to clients, meet people, and stuffs like that. so that being said, its more interesting to work in the consultancy field!
btw, thought you should know that the word "actuarist" doesn't exist. a person who work in the acturial field is called an actuary. and the plural of it is "actuaries".

http://en.wikipedia.org/wiki/Actuary

all the best for ur future undertakings!

 

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