Is Actuarial studies for me? (1 Viewer)

[He]

I am looking for a bit of advice on whether or not I would be suitable for actuarial studies. I have combined actuarial studies at UNSW as my first preference and I have received guaranteed entry but I am still a bit unsure whether its the right course for me. I understand that it is a very intense course and one should be quite talented at maths in order to undertake it. That's what I am worried about.

My HSC marks in MX1 and MX2 were decent enough, 95 and 89 respectively, but during the year I had to put in a whole lot of effort to get there. I am not really one of those students who is "naturally good" at maths. I didn't have a tutor at all so I just did a lot of questions and eventually I got the hang of it. By HSC time I was quite confident with everything in MX1 but for MX2 I still struggled with some topics, especially Harder MX1 because it was the last topic we did and I didn't have the time to do as many questions.

So given that I can do alright in maths with a lot of effort, should I study actuarial or is it just suitable for those who are naturally gifted?

I have put the combined course as my first preference because I thought that maybe if I can't cope in actuarial I can just drop and stick with the other, is this possible or even a good idea?

Thanks

 

[leehuan]

It's not nearly as much of a problem as to if you find the concepts taught in actuarial fun imo.

 

[mreditor16]

I am looking for a bit of advice on whether or not I would be suitable for actuarial studies. I have combined actuarial studies at UNSW as my first preference and I have received guaranteed entry but I am still a bit unsure whether its the right course for me. I understand that it is a very intense course and one should be quite talented at maths in order to undertake it. That's what I am worried about.

My HSC marks in MX1 and MX2 were decent enough, 95 and 89 respectively, but during the year I had to put in a whole lot of effort to get there. I am not really one of those students who is "naturally good" at maths. I didn't have a tutor at all so I just did a lot of questions and eventually I got the hang of it. By HSC time I was quite confident with everything in MX1 but for MX2 I still struggled with some topics, especially Harder MX1 because it was the last topic we did and I didn't have the time to do as many questions.

So given that I can do alright in maths with a lot of effort, should I study actuarial or is it just suitable for those who are naturally gifted?

I have put the combined course as my first preference because I thought that maybe if I can't cope in actuarial I can just drop and stick with the other, is this possible or even a good idea?

Thanks

Not everyone who succeeds in actuarial studies is "naturally gifted". I will be honest with you though and say the majority of those who survive the whole duration of the degree are "naturally gifted". But that does not mean, if you're willing to put in the effort and stay consistent, that you won't be able to stick it out. I know many naturally gifted peers, who are barely studying and putting in effort, scraping passes and credits. I also know some peers, who are not "naturally gifted" but working their asses off and studying consistently & smartly, achieving distinctions and high distinctions.

So yes, being "naturally gifted" will help in succeeding in actuarial studies (there's always some "naturally gifted" students who grasp the concepts being introduced much more quickly than other students), but it's not the only determinant by any means. If you're willing to put in the effort, I would still highly suggest giving actuarial studies a shot.

As for your underlined question, what are you combining actuarial with? What are your ambitions and interests etc, if actuarial studies doesn't work out?

 

[T-R-O-L-O-L]

You have to be willing to put in a lot of work. Just look at the droup out rate, quite high compared to other courses.

 

[eyeseeyou]

Just out of curiosity, if you dislike economics/finance then should I do actuarial studies? I really dislike economics at school

 

[eyeseeyou]

Just out of curiosity, if you dislike economics/finance then should I do actuarial studies? I really dislike economics at school

Bump could someone please answer my question

 

[Trebla]

Economics at uni is quite different to economics in high school.

That being said, actuarial studies focuses more on finance concepts (e.g. valuation methods) than economics concepts.

 

[sinophile]

Do you like to run youself ragged with hard shitty work for a lot of money?

 

[seremify007]

Question is what do you want to achieve out of all this? Do you actually want to work in a role where having the actuarial background would be valued- i.e. insurance, valuations, risk management, economics, etc..?

 

[eyeseeyou]

Economics at uni is quite different to economics in high school.

That being said, actuarial studies focuses more on finance concepts (e.g. valuation methods) than economics concepts.

Uhh... what is the proportion of finance to real maths is there in actuarial studies?

 

[eyeseeyou]

Do you like to run youself ragged with hard shitty work for a lot of money?

I'm willing to do that as long as the job is actually fun and not boring as hell

 

[eyeseeyou]

Question is what do you want to achieve out of all this? Do you actually want to work in a role where having the actuarial background would be valued- i.e. insurance, valuations, risk management, economics, etc..?

Yeah I guess. It's just the idea of finance/economics bit of actuarial studies I don't like. The maths I don't mind as much