Is Actuarial science a good major?

Is Actuarial science a good major?

Though there is a long debate on this matter, Actuarial science is considered one of the majors when it comes to job-oriented courses in Banking, financial services, and insurance (BFSI). Actuarial Studies graduates are equipped with the knowledge of how to utilize Mathematics, Statistics, and Probability standards to envision future occasions and take preventive measures.

Actuarial science provides many career opportunities and also helps in getting the advancement in career. Actuarial science is a good major for individuals who have a reasonable level of comfort and facility in mathematics, particularly its applications

Why is Actuarial science a good major?

The decision to become an actuary should be taken very seriously.  There are many aspects of an actuarial career that you may love and will make it worth the commitment for you.  Here are some of them:

  • Gaining an associate’s or bachelor’s degree in Actuarial science can make you eligible for an expansive amount of jobs, as employers typically look for candidates with official academic training in the field
  • Actuaries make good money, with a six-figure median salary, and the job is experiencing rapid growth
  • By earning an Actuarial science major, you can introduce yourself to financial and business professionals who could help you find a job in the future.

Is Actuarial science a hard major?

To be an Actuary one needs not only to be good at maths but to love maths. Since only a small subset of people are in love with maths, Actuarial science turns out to be difficult for them, and hence generally considered difficult. This leads to a lot of dropouts along the way. If you love maths by heart, then Actuarial science is for you, and trust me you will have fun. The Actuarial exams are challenging but, as far as I know, those who love maths are spurred on by challenges.

Career opportunities in Actuarial science Major:

Actuarial science is a good major because of the plentiful career opportunities across the profession, some of the popular opportunities are:

  • Accounts Manager
  • Actuarial Analyst
  • Actuarial Consultant
  • Actuary Director
  • Administrating Officer
  • Appointed Actuary
  • Asset Liability Manager
  • Business Analyst
  • Education
  • Finance
  • Financial Service Executive
  • General Officer
  • Insurance Risk Managers
  • Investment Analyst
  • Management
  • Risk Analysts
  • Senior Actuarial Analyst
  • Underwriter

Some classes Actuarial science majors may likely take:

  • Actuarial Computing
  • Actuarial Statistics & Mortality Analysis
  • Advanced Mathematics
  • Applications of Computer
  • Business Communication
  • Business Ethics.
  • Business Mathematics
  • Business Policy
  • Business Statistics
  • Economic Theory
  • Elementary Mathematics
  • Elements of Banking and Finance
  • Elements of Risk Management
  • Financial Economics
  • Further Life Contingencies
  • Industrial Psychology
  • Insurance Brokerage
  • Numerical Analysis
  • Operations research
  • Probability and Mathematical Statistics
  • Public Finance
  • Quantitative Analysis for Business Decisions
  • Reinsurance
  • Risk Theory and Insurance
  • Theory and Practice of Investment
  • Theory of Interest
  • Valuation of Liabilities in Insurance

What other majors are related to Actuarial science?

  1. Insurance
  2. Econometrics and quantitative economics
  3. Economics
  4. Accounting
  5. Accounting and business/management
  6. Accounting and Computer science
  7. Accounting and finance
  8. Accounting and related services
  9. Accounting Technology/technician and bookkeeping
  10. Mathematics
  11. Mathematics and statistics

 

Course difficult 58%  ℹ️
Acceptance rate 48% ℹ️
Relevance metric 35%  ℹ️
Job availability 29%
Estimated number of student Nil
Number of schools 58+ ℹ️ See schools here

 

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