is an ACTUARIAL SCIENCE DEGREE worth it?
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These videos are for entertainment purposes only and they are just Shane's opinion based off of his own life experience and the research that he's done. Shane is not an attorney, CPA, insurance, or financial advisor and the information presented shall not be construed as tax, legal, insurance, safety or financial advice. If stocks or companies are mentioned, Shane might have an ownership interest in them. Affiliate links may be present, the offers and numbers presented may change over time so please make sure to confirm that the offer is still valid. Some offers mentioned may no longer be available or they have been changed. Please donât make buying or selling decisions based on Shaneâs videos. If you need such advice, please contact the qualified legal or financial professionals, don't just trust the opinion of a stranger on the internet and always make sure to do your own research and enjoy this family friendly content.
Sources and further readings for jobs and college degrees:
bls.gov(bureau of labor statistics)
nces.ed.gov(national center for educational statistics)
payscale(provides information on jobs and degrees)
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Here is a "challenge": is an International Relations degree worth it?
Do a vid on Industrial Organizational Psychology, its one of the two most profitable careers besides Clinical Psych
A bro is getting into the drone industry worth it? Also can you do a video about it?
Outstanding video!! As an actuary who hires actuaries, I look for strong math skills (I prefer math majors with actuarial classes), and computer experience is a plus. By the way, actuaries develop software that allow automation. It's just easier to teach an actuary programming skills, than it is to teach a programmer actuarial skills. If you decide to be an actuary, never...never...slack on the exams. After you achieve your FSA, it smooths out.
Great feedback for the viewers, thank you!
@R. Michael Markham if you were to hire recently graduated actuarys do u do see how many exemptions they got or their final Mark's..If you can answer what criteria do u use to hire new actuarys...
@@natigmichael6955 Iâm searching for a job right now (I graduate in may) and I can tell you that employers will want to know which exams you pass/fail but the specific score on the exam doesnât matter. We always joke about a âperfect 6â because it really doesnât matter whether you get a 6 or a 10, both are a passing mark
@@natigmichael6955 I think they only give exemptions in the IFOA for exams. They give exemptions for the the 3 classes required in the SOA if you took the classes in school, but not the exams.
Hello you said you prefer math majors. I am currently in Aerospace Engineering but looking at becoming an actuary. Do you think this degree would hurt my chances of finding a job?
Actuaries are the most flexible of all math majors. You can get a CFA & become an investment-banker/FA. You can get an FRM, & become a credit risk manager (Though most actuarial science graduates see this as a cop-out). You can become a statistician.
How did CZcams know that I was wanting to go down this career path đł
I read your mind đŠžââïž
Same here man
âšShaneReadsItAllâš
AAAA SAMEEE!!!
Great 10 minute summary of the actuarial career path!! :D I gave a thumbs up!
U here? Wow đ€©
My actuarial degree was definitely worth it đ
omg i watch ur videoooooss
Nice! Subbed your channel đ
Ooommmggggâ€ïž
hello I need a professional vice cn you?
Are you allowed to use a calculator when writing the math exams đ€Ł
I double majored in Mathematics and Computer Science and am now doing my masters in Actuarial Science, I think you made some really good points !! Great video.
South African? Is it fine if I ask you a few questions about becoming an actuary in SA, I'm in Gr10 rn and the advice would be highly appreciated đ.
@@paddaboi_ Yes I am South African but I did my undergrad in the US and am currently doing my masters in the US as well, so idk if I can be of much help, but I would happy to answer what I can lol
@Kian Naicker Mathematics was the main requirement for my masters, if you have a strong background in that or statistics or even data science you should be good
@@nelanithosemoments Is physical science a requirement to study actuarial science??
@@simangalisomthombeni176 probably not, since actuaries mainly deal with statistics and risk
I've been thinking forever about taking thee actuary route! Been following your vids for the past few months, love thee content. Thanks soo much for posting.
Awesome! Thank you!
Thank you Shane, this video just gave me more courage. I took a breather from this course, that is, Actuarial Science. I plan on getting done by next year God wiling. In the mean time, I'm in an Internship @Sematime Ltd, Kenya, learning and mastering Java. God Bless You Shane and may this channel grow 1000 folds.
Thanks Effron. Wish you luck!
Thanks for making this video bro! You covered some really important points about an actuarial science degree.
No problem!
Love your channel. Iâm an actuarial science major freshman.
Yessss Iâve been waiting for this!! Keep up the great work man.
Thanks! Will do!
I have been waiting for this video. Glad to see you've finally made it!
More to come!
I'm in my last year of Actuarial Science in the UK with 8 exam exceptions from the university. One thing I would say is that it is far much more difficult than other math degrees. This is because even being a math genius, you will struggle with the other subjects. You need to be very intelligent overall and understand the financial world like the back of your hand. Still, great degree to have.
How did you get exeption from 8 papers,which university fo you attend?
@@lokeshtanwani3466 I attended Heriot Watt University and we end up doing 8 of the 16 exams at university. For example, it was always 1 each term along with other subjects.
How are your excel and programming skills? - is programming even needed?
â@@lokeshtanwani3466 go to Kent or city London , you can get all 12 exceptions
I also studied through the Insitute and Faculty of Actuaries. We could also get exemption from IFoA exams if you passed the university course well enough. Iâm not sure if exemptions are available in the USA?
The required courses for Actuarial Science vs Statistics at my university was mostly identical. The main difference was Stats took extra courses in Statistics and Modeling where Actuarial Science took some Finance Courses and a few higher Math/Exam prep courses. I would argue that we had an extremely similar education, but to the outside world, a Stats degree looks far more flexible but Actuaries know that Statistics applies to Actuarial Science. I went to switch to Actuarial Science and my advisor mentioned this, glad I stuck it out with a Statistics degree!
Great video, happy I hit the like button! Science, math, and trades are the only reasons I went to college.
Good choices!
Awesome video, big agree as a student studying Actuarial Science!
Quick question though, whatâs that outro song?
This video helped me a lot, thanks for sharing it
You should do more videos about majors that use a lot of math, like actuary. I love math so much â€ïžđą
Noted Isabel.. I got more coming
Let's do this 30 day challenge together. I shouted you out in my Day 1 of the challenge video yesterday :)
Sounds great! let me check that out
Can you talk to us about your own past, ie. your goals, school, college, job, etc? Unless you don't wanna share of course lol.. I love ur vids
Maybe in the future. Stay tuned for that
@@ShaneHummus yes..i can't wait to listen to your experience.....
As an actuary I can tell you about it a bit more specifically. So it is a really hard major (I think the hardest or the second hardest after theoretical physics ) , you can pass the tests if you try enough and expect failing, salary thatâs presented in the video is not very representative of what Iâve had or what people have had , so you start with 75-80 k according to my experience, without passing the exams yet. The maths that is really used in actuary is probabilities and not statistics. Another thing is flexibility, I do think our education is really flexible (at the same time specific on various elements) from my experience, actuaries tend to be better in general maths than mathematicians (I donât know why ) in fact I have many friends who quit actuary to join maths (because actuary is really hard ) and get A s in maths while we got câs in actuary so I do think maths is fairly easier in comparison to ACT. Another thing , I donât think that an actuary would ever be in a position of telling a programmer what to do or provide him with an algorithm so the programmer code it as actuaries are usually strong in coding themselves and we build our own AIâs (my masters were in AI) that are basically gonna replace us in the far future
I love these videos! Please make one on Political Science, or one of the less well-paying majors. I think people who graduate from those majors are a lot less sure of the jobs they'd get, so it will help a lot more.
Noted
At least at my university, the actuarial courses are considered easier than the math courses for a math major. I am about to graduate and only took Calculus I and II. I didn't need to take linear algebra or anything else (even though it would have been beneficial). At least in my experience, there are a lot of actuarial students who like the statistics side more than the math side. So if I didn't get a degree in actuarial science it would definitely be in statistics.
Thanks for sharing that Matthew
As an actuary I can tell you that you don't need an actuarial science degree to become one. Ive seen people with degrees like physics, chemistry, even humanities. You just need to pass the exams and have a bachelors degree in anything. That being said, having a bachelors degree in a quantitative subject naturally would help prepare you for the exams which are obviously highly mathematical in nature. I would not recommend the actuarial science degree in case you decide you want to pursue something else. You dont want to pigeonhole your options.
Thanks for sharing your views
How do you recommend studying for the exam? Science degree here chemistry and biology.
@@carolinac4406 for the preliminary exams (P, FM, IFM), coaching actuaries is the way to go. Get a coaching actuaries subscription and grind adapt until you get your earned level up to at least 7. Come test day you should be good to go. After the preliminary exams is where it gets tough. I would recommend a combination of a TIA (the infinite actuary) subscription plus a thorough reading of the source material (textbooks that the exam syllabi reference). Upper level exams are notorious for testing relatively pedantic material from the source textbooks which is why taking a look at the source material is a good idea for the upper level exams. Feel free to ask more questions about exams or the profession if interested.
With a chemistry background you should have the math background to start grinding exam P if you haven't already started doing so.
@@jms974 Thank you for taking the time to respond to my message and all the information provided. At the moment I am looking to transition from my Physician Assistant career into a non medical role. Currently, exploring all careers and definitely keeping an open mind. I love numbers, math, being able to predict outcomes, improve metrics while creating algorithms to maintain scores, and yet a researcher at heart. As of now how many exams have you taken? What has your experience been like in your career? How often do you take exams? Any additional info would be greatly appreciated.
I love this account thank you so much for your insight!
Glad you enjoy it!
Omg omg omg, I love this I am about to chance mayors to actuarial science and this really comes in handy, live your videos!
My favorite channel is having a 30 day challenge, I'm challening my self to watch all 30 videos.
Thank you
There's this one guy on YT (forgot his channel @) but he double majored in Actuarial Science and Mathematics. It's probably the best idea for someone really into math and trying to be an actuary... other than that I could imagine a more business-minded person might couple Actuarial Science with Accounting, Econ, or Management and someone technically minded might do it with Comp. Sci. or Stats (stats really converging with Comp. Sci. nowadays after all)
Thanks for sharing that
Can you do a video on Pharmacy as a career? I know you showed your degree and you did talk about pharmacy during the health degree video but Iâd like to see a full video. There are videos by PharmDâs on CZcams talking about how the job market is going down the tubes and the tripling of schools is oversaturating the market. Not to mention the threat of automation. Also, BLS for pharmacy updated in September with a negative growth rate. It seems like pharmacy as a career is doom and gloom so it would be great to hear your thoughts.
Noted Ethan. Maybe in the future
Hi, here researching as I am considering to change my program of study
Touched the like button for the algorithm :)
Thank you!
We will be with you all the way til the 30th day!
Thanks Alexis
Iâm shocked at the satisfaction score. Iâm currently on my 3rd year on the job and looking for a career change because the job is dreadfully boring. I was probably not interested enough to begin with though. But to other actuaries out there, do you enjoy your job? Does it satisfy you? Curious to see what you think of the job/career.
I think its higher because the people doing it know what theyâre getting into. Itâs specific and you do what studied after in general
Hey Shane, I really enjoy your videos, keep researching my friend; I am sure we all appreciate it greatly.
Stay safe, and take care :D
Thank you Calvin, You too
Hey Shane I just thought of a new career you have never talked about. Technically, it's in finance but not really. Have you ever heard of Quantitative Finance aka Mathematical Finance? These are the people at large banks (both the Investment and Commercial sides) who price derivatives. In other words, they find ways to adjust the Black Scholes Theorem to better predict where the price of an underlying asset in a derivative will go and thus more accurately determine the value of a derivative. In the world of finance, they are called "Rocket Scientists" or "Quants" yet they were not well respected several decades ago, but times have changed and now they are at the center of everything. However, this career is DEFINITELY not for the faint of heart because ironically banks seek for these positions not people with finance degrees but rather (you'll like this) PHYSICS degrees at the doctoral level. Also stats or econometrics ph.ds and math ph.ds are desired. However many positions that are somewhat less lucrative also seek those who acquire Masters degrees in Quantitative Finance. Check it out, and you might read the book My Life As A Quant by Emmanuel Derman which is a good read on this esoteric profession for anyone including laymen. In case you're wondering, Physics ph.ds are not desired because they're "smart"; it's because the right kind of math courses are required to fulfill physics ph.d requirements and a math ph.d might or might not possess the right math courses that are at the core of what a Quant does. The "Physics" route takes a person through partial differential equations, stochastic diff. eq.'s, stochastic calculus, and some other courses that consist of one way to price derivatives, but there's an alternative way, which is through statistics and that's why stats/econometrics ph.ds are universally accepted for Quant jobs.
Hey Mark! Thanks for sharing your thoughts. I might cover that in the future
Love watching your vids, any insights about agricultural biotechnology?
I might cover that in the future
I think if you enjoy math actuary is a FANTASTIC career, it's well paid and extremely easy to pick up a job. But I do think actuarial science is a bad choice. I was speaking to risk analyst (works closely with actuarys) and he said they tend to hire people with degrees in physics/math other an actuarial science degree, also if you ever get sick of being an actuary with those degrees you can also be many other things like a software engineer or physical scientistđ€·ââïž
Good point! Thanks for sharing your thoughts
I am looking to study Actuarial science at university, for my A levels I have chosen, Economics, Geography, Maths and Further Maths. Do you think these A-Levels are suitable or should i consider taking out Geography
For someone with an Actuarial degree from a high-ranked university 7 years ago with no prior working experience in related field, what do you suggest to get back into the industry?
You were totally correct about the difference between getting an Actuarial Science degree and getting a math degree with AS electives. Itâs better to get the math degree. It leaves other options available. The AS degree is too specific.
Right
Or you can double major. You may need just four to five additional courses to get a dual degree in both Math and Act Sci.
@@kemiakinyemi1 But Why? When the Math degree with AS electives accomplishes the same thing as the AS major.
That's a though one đ. Shane just started the Finish 2020 Strong with math...I know that math has its reason to exist, and can be even beautiful but the risks involved if things doesn't work so well in a so closed career like that are to high for me, I think I would go crazy and starts to see mathematical problems everywhere... Just like the way my brain started to count after the moment I've started to practice music with a click track to improve my skills... and now I'm listening to patterns everywhere... đ€Šââïžđ
Right haha
I am planning to major in CS with minors in actuarial mathematics and business analysis. Is it a good combination? Please suggest some job ideas. Thanks
From my statistics background I know that most of the actuaries I know took the exam and got the certification (with a stats degree of course).
I disagree with the idea that an actuary is niche job and can only become an actuary. I live in a city that has a ton of insurance headquarters and they love to hire actuaries that end up doing computer science and big project work. They start out very high up and move through the ranks very quickly. This is because actuary science degrees are so well respected that employers will hire you to do any work because they know that you are extremely smart.
I tried ACET [Actuarial Common Entrance Test] for IAI {institute of Actuaries of India}, trust me these exams are actually tough. think twice before entering into this field
Thanks for sharing that
Do you have to take that exam in the states or is it just in India?
@@marlenarteaga2154 lol that would be insane if they made Indians fly to the US to take the US test.
@@chrisreynolds6391 thatâs not what I was asking. Do you have to take the exam in the United States or is that exam only given to people in India to qualify for an actuarial degree
@@marlenarteaga2154 sorry bout that I'm just playing around.
I think the risk profile for India is entirely different from the US.
Health & Safety cost/risk in the US is relatively high, whereas our currency is relatively stable so it's a totally different risk landscape.
India has it's own unique risks.
But I'm sure both countries exams have plenty of really hard math.
What do you think of BSc Economics and management degree? I really enjoy both subjects, but would like your opinion on the matter if it is worth it to study this BSc
Great videos by the way
Great choices
I'm currently getting my master's in actuarial science, and i'm also taking exams right now. I definitely agree with your comments on the degree. I'd say the biggest drawback of the degree is that it's super specific. You really don't need this degree to become an actuary; you can take any major you'd like, as long as you can pass exams. On the flip side, from my experience in the job search, the act. sci. degree is actually more flexible and portable than people give it credit for -- many employers would treat it as equivalent to a math/stats/finance degree.
Best of luck Jordan
Wonder if the comment thread from one of your recent videos that I started inspired this one!
I remember đ
So if I were to major in acturial science, would it be a good idea to minor in accounting or finance?
Thanks for the video, Shane, I'm into an Actuarial Sciences degree now
Nice! Good luck
Actuarial science is a math degree where you take statistics and probability courses. At the school I went to the only difference in math courses is straight math majors took abstract algebra and advanced calculus.
Any advice for an upcoming december graduate with a degree in stats w/ emphasis in actuarial science with a management minor? Gonna have exam P under my belt this July.
Shane, could you please do a video about high paying jobs in renewable energy, water purification, air. :) appreciate you!
As an actuary, I'm very sceptical about your stat that only 1,387 people graduate from an actuarial science degree every year. Where did you get this information? From my university alone, hundreds of students graduate with this degree every year.
I think your con of the degree being too niche is not quite there. Most actuary degree paths I've seen, including mine, is a math degree then a focus on actuarial math which is usually only a few extra stats/finance classes on top of the math degree. Overall great explanation
Thanks for sharing your thoughts
Honestly, judging by almost all of the comments in r/actuary, this is an incredibly boring (although stable and high paying) career for anybody even remotely interested in mathematics.
According to most actuaries, the most maths you'll ever see is when you're taking the exams.
Yes the exams are the only places where you will actually do math but knowing the math will make you understand the big picture behind what you are doing.
@@jms974 Okay. That doesn't change the fact that it's a boring profession.
@@The_Original_Hybrid that's subjective. Either way most jobs are boring thats why its called work. No one pays you for having fun.
@@jms974 Right, but my comment is with regard to people who enjoy mathematics and would like a career in which mathematics is used.
Day one, here we go!
Lez do this
Hey man! Could you talk about online degrees and which ones are worth it which ones are not worth it? (you might remember me as the econ guy who wants to do online menagment information systems degree as well)
Hey man! Yeah I remember. Stay tuned for that video.
@@ShaneHummus is an online MBA degree worth it?
Can you change it up a little and talk about a sports degree like sports management, sports medicine or athletic training.
Noted
Hi, I am doing actuarial science degree, is it necessary to take SOA or CAS exam during university timeïŒ
Ah yes "Actuario" has the reputation of being the hardest economics/mathematics career in the UBA (University of Buenos Aires)
Right
confirmo
u know at first I wanted to take actuarial science in college but the counselor told me that it was smarter if I took mathematics and majored in statistics instead so there's more room for change in the future. anyways, there's two career paths for me to go, be a data analyst or become an actuary... which is basically almost the same thing
Thanks for sharing that Allen. Good luck!
Your counselor was basically right and one thing he probably wouldn't know is that actuaries often have less respect for applicants who are act. sci. majors because they feel that the exam material was spoon-fed to the student.
Can you share more about your college experience and journey from high school to college? That would be a great video
Maybe some time in the future
Can you do one on a medical physicist? Itâs really hard to find any information on this career field
Noted
Another con is that exams are expensive, unless u have a the company u work is sponsoring u or u have a bursary
when are you doing is a supply chain management degree worth it and is a business administration degree worth it? Thanks!!
Coming soon Ari
Iâm majoring in Economics with a minor in Math and a Certificate in Actuarial Science
Do you think becoming a airline pilot is worth it or going into the Air Force, becoming an officer and trying to become a pilot through that ( I am interested in the military by the way)
I might make a video about it. Stay tuned
Of course it is. But not required to be an actuary. To be an actuary the person needs to pass exams. So to be an actuary it doesn't matter what the degree is on as long as you can pass the exams. On the other hand, to be a registered nurse, you need to major in nursing and nothing else.
Don't jobs require a related degree to become an actuary though?
Iâm studying computer science but also working on becoming an actuary
That's great. Good luck
Can You do A Political Science one next
I wanna major in it but itâs wrothless and Iâam probably just going to end up with a Economics degree
Noted. Stay tuned
In India, actuary profession is somewhat different. My sister is qualified actuary, but in here most finance decisions taken by Chartered Accountants, MBA Finance and Engineers.
Payscale somewhat not great compared same level other professions here
Thanks for sharing that Ayan
can you make a video on quantitative risk? not quantitative finance.
Hello! I'm a student currently studying to become an actuary. One thing I'd like to clear up is that most companies that you'd end up working for as an actuary, like insurance companies, give actuaries a payed day home every week to study for the exams, so it's not as crazy as studying for a super hard test on top of a 40 hour work week, it's just getting paid to study for a super hard test on top of a 32 hour work week. Also, idk if this is the way it is for other schools, but my university offers actuarial science as a concentration for math majors, like how pure math, teaching, statistics, and applied are also concentrations within the major, and there is a set of classes that every math major has to take regardless of their concentration, so we would still have all the skills a normal math major has. Hopefully that clears up the cons about not learning all of the skills a normal math major would and the point about the 40 hour work week.
Thanks for sharing that Jacob
In Denmark, there are no exams to take. Only Bachelor''s degree and Master's degree. Once you are done, you are cand.act. Do anyone know if I will be considered an actuary in the U.S if I am so in Denmark?
Stay tuned I might discuss that
Deciding whether to continue my actsci degree onto year 2 or not as we speak đ
Plan it out
Can an actuary work with the stock market?
Hi do you already have a video on occupational therapy if not can you please do
Stay tuned for it
2 days down, 28 to go.. Keep up the good work Shane.
Thank you!
Why didn't I see this earlier. I'm on my 2nd year of the actuary program
Can people get actuary job with finance or accounting degree?
The only reason why you'd pursue an actuarial science degree is to get board exam exemptions. But apart from that, you're actually better off doing a degree in statistics and applied mathematics.
Hi Shane, why don't you ever include any data about contractors vs full-time employees or is there even such a thing in the USA? In EU contractors (limited-time contracts, can be for several years for example) people usually get a lot more money than full-time - technically this means life-time in EU. For example, the salary can be 50k a year for a lifetime contract plus all benefits, including Maternity or Paternity leave, payments in case of getting fired and etc. However, if the person does not want the life-time contract, no maternity leave coverage and etc, for the same 50k job he/she can get 80k-90k per year, and for many industries, this is what people choose to do.
I just googled and found out that in US Maternity and Paternity leave is unpaid?!?! I am quite shocked, how do people have children?!
Thanks for sharing that Ofeliia, I might talk about that in the future
Can you do a public health education degree?
Great career, but it can be be very difficult if you're not good with math.
Here's some math for you. Only about 1,387 people graduate with an Actuarial Science degree each year (1:12) and from 2019-2029 the employment change in Actuarial Science is expected to increase by 4,900 jobs or approximately 490 per year (4:46). So there are 1,387 people competing for 490 jobs each year so your probability of getting an entry level actuary job is at most about 35%. Once you realize that anybody with any bachelor's degree can become an actuary you can see why there is so much competition in the entry level actuary market right now. I know it is a very simple analysis but I know from personal experience, I have passed 4 of the 10 exams and still can't get a job.
Yep. As a current actuary I hate when people make it seem like passing 2 exams and having a degree is all you need to find a job. Maybe 10-20 years ago. I graduated from an ivy league school with a few exams but no internship. Had to enroll in a masters program just to give myself another shot at an internship. Only afterwards did I start getting interviews for full time offers and then eventually my current job now. Def a great career but only after you find a job and then pass all the exams.
Hi Shane Just wanted to say I love your channel and appreciate your work. Could you please do a video on is a Civil Engineering degree worth it.... Thanks in advance
I'll keep that in mind. Thanks
I've heard from people mid-career that the industry is hard to break into but my friend got offers from almost everywhere he applied and ended up taking Deloitte at 100k +16k signing if he passes his fourth test (graduating next year).
Great! Thanks for sharing that Henry
@@ShaneHummus What Henry isn't telling you (or might just not be aware of), however, is that Deloitte is a consulting firm. Consulting actuaries work like 60 hours a week and are provided very few office study hours and because the customers are TOP priority, they rarely get to actually use those study hours. But the tradeoff is, 100k starting lol. Of course that too might be less than meets the eye if it is in a high cost of living area like chicago or nyc. However I will say that you gain valuable experience at a consulting firm at warp speed so it's a good way to advance your career for a while and then go get a much slower pace actuary job elsewhere and start cranking out exams. tradeoffs, tradeoffs. Life is all about tradeoffs.
@@marksmith4892 exactly, i heard consultants work 12+ hours plus travel and they are mostly stationed where the clients are which means they're basically living in a suitcase
@@jchung5066 some level of travel is common to all actuarial consulting jobs yup however the amount of travel depends on the company. At Deloitte, I would predict a lot of travel. At PwC, they told me ~40% of the time. So it all depends. But again if you're willing to put up with that, then you make a lot more than the standard actuary job so they do compensate you for it.
â@@marksmith4892 In France, Deloitte hire actuaries but you will not have the work of an actuary. They do not provide consulting in actuarial science. They actually provide audit. Concerning the amount of hours spent to work i can confirm that, it's pretty big. The advantage in France it's that you only have to do a master degree in 5 years and then you can be recognized by the french organization of actuaries. You don't have any exams to take after so you can focus on your job.
It's not necessary, but it does fast track you to make a lot of money. I was an actuary for 25+ and I made good money, but I didn't follow a Actuarial Science track. It is VERY DIFFICULT.
wow i literally asked 2 days ago its already out? I feel like a MVP lmao
Haha thanks for the idea
Can you do a "Is a statistics degree worth it?"
Yup! Coming soon Naasik
@@worldwiderecords9220 yeah I've been considering switching to that or math
@@worldwiderecords9220 comp sci
@@worldwiderecords9220 agreed, but personally i wanna switch because I'm just not enjoying CS anymore
@@worldwiderecords9220 yeah for sure, for me I've been looking more into stats cuz i wanna get a job in data science
Can you do a 'is an earth science major worth it'?
Noted Blake
Thanks! now I know Actuarial Science is worth it.
Welcome
Have you covered natural sciences? Cool video tho
Science Degree Tier List (Science Majors Ranked)
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Nice video, but as someone who teaches in an actuarial science program, I don't really agree with the claim that an actuarial science degree is inflexible.
In general, you really need to know so much basic finance, business IT, economics, mathematics, statistics, and probability, that there isn't even time to do all that many "actuary specific" courses (and the two "prelim" exams, P and FM, really just test very basic probability and mathematical finance, and thus to me aren't very actuary specific. )
In fact, in our program we only really offer two actuary specific courses (on long term actuarial mathematics, ie prep for the SOA LTAM exam.) My point is that this why I think an actuarial degree is such a good idea if you are excellent in mathematics and like business! Plus, if you take exam P/FM and realize you can't pass or this just isn't for you, then you still possess a ton of GENERAL useful business/quantitative skills!
Now, if you decide you really want to do something in the engineering/science realm, well then yea good luck, and you'll need to learn a TON of stuff (we obviously don't teach PDEs and Fourier analysis and such in any actuarial science degree courses...)
We had about fourier analysis on the actuarial program in denmark.
@@soakohaji8009 I stand corrected! How was this applied to actuarial science?
@@thetheoryofinterest7051 It was a compulsory math course called analysis 1. kurser.ku.dk/course/nmaa04016u
I remember once that we had refer back to it, in the coming courses. But I cannot remember in which context. But it was ofcourse not directly applied to actuarial theory.
What are the eligibility?????????
I loved this video. Iâm majoring in economics but Iâm going to start studying for the actuarial exams soon and see if I got what it takes. Meanwhile, Iâll still be a Starbucks barista. Lol.
You should totally due a video about the worth of your pharmacy degree. I think that you would be interesting.
Noted your request
coudl you make a video on Economics vs Business vs Accounting?
Hmm.. Maybe in the future
@@ShaneHummus i tihink a lot of people would like something like that ;)
I have an actuarial degree and used to work in actuarial consulting firm. Now I am a mathematician for a gaming development company.
So being a Mathematician can make you work in a gaming company?
@@albertrilley3341 yes particularly for casino games since it requires calculations of probabilities
Do you get paid more there? I'm an actuary as well always thought it would be cool to be part of the team that makes a game.