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+--- Thread: can anyone tell m bout actuarial sciences (/showthread.php?tid=131)
- Breakevens - 07-13-2006
u've been taking actuarial sciences and more considerably from pakistan,on all these grounds,i would like 2 know that what are the majors u're being taught(i.e subjects and which books u are being reffered for financial mathematics and especially calculus).i hope u wont find it as a test of yr abilities but at least i want to kn0w about actuarial sciences as well especially when it comes in the context of pakistan.
- Shuja - 07-21-2006
Hi guys,
I just kinda noticed that people in the forum were talking about universities in the UK and the Institute of Actuaries (in the UK), theres also quite a few places in Canada that have actuarial science schools (however Canada follows the American System of Actuarial Science) so if anybody would like any info about those please feel free to ask.
regards,
Shuja.
- hunain2003 - 08-04-2006
hi, i'm new here. i'm interested in joining actuarial science and i'v already applied to some american and canadian universities. firstly i wanted 2 ask u which of the two systems do the employers prefer(british or american)and secondly, could you plz send the actuarial science handbook 2 me as you have been sending to other people. my email adress is hunain2003@hotmail.com . also, if for example, i finish my bachelors in actuarial in US and i write the first two papers, how much would employers pay me for tat.
thanx
hunain
- Shuja - 08-05-2006
hey hunain,
To tell you the truth the employment preference over the UK and US system is quite regional, employers in north america prefer people from the Society of Actuaries or the Casualty Actuarial Society and employers in Europe prefer the UK system. Most countries outside these regions either accept both (unless their head office is in North America or Europe). And plus once you gain fellowship in either system attaining fellowship in the other would only require passing a few extra exams. Initially when I applied for university I got into a few places in Canada and the UK and I had a really hard time deciding where to go, however I ended up going to Canada, not to say that Canada is better in any way, its just that theres more desi people here ).
The biggest advantage that US/Canadian universities have over UK universities is the four year system (which is usually seen as a disadvantage to most people), actuarial programs in the UK usually dive into actuarial science in the first year and, this is purely my opinion (please someone correct me if I'm wrong), most actuarial programs in the UK focus more on the actuarial science whereas US/Canadian universities focus more on the mathematics, in fact in my first year all we did was math which gave me a chance to see whether actuarial science was really for me (in fact cuz of first year I've opted for an alternate degree in pure math). However, having said this there are a few degrees in the UK that give this mathematical focus and option such as the Bsc in Mathematics with statistics [for finance] at Imperial College or the MMORSE course at Warwick.
There is also a little bit of a difference between US universities and Canadian Universities teaching Actuarial Science, the best US programs in Actuarial Science such as the ones at Wharton (upenn), UIUC, Columbia and Michigan (Ann Arbor) usually only perpare students for the first two courses (except Wharton who teach up to three). Whereas the best Actuarial Science Programs in Canada (at Toronto and Waterloo) fully prepare students for four exams and have many optional courses that will prepare students for the 5th and 6th course as well. But the fact still remains that actuarial jobs are more competitive in Canada than in the US, most entry level actuarial jobs in Canada usually require over 3 exams where as in the US such jobs would only require between 1-2 exams. Salaries for entry level actuaries are quite good usually over $40,000 a year, I myself am a second year student so that value might be a little inaccurate.
Anyways, I hope I've been helpful and if you have any further questions please don't hesitate to ask.
regards,
Shuja.
- derivativetrader - 08-05-2006
Having recently graduating in actuarial science from a leading school in London, I think employers usually prefer personality and a 'fit' more than how many exemptions some one has. The situation might be different in Pakistan but I'm sure just as British, American employers wouldn't give a lot of credit for having a significant amount of exemptions. Having a couple of exemptions is a different situation, however.
Secondly, Hunain, if you are still deciding on which offer to sign, I would recommend giving more weight on the university's overall ranking than the program's. No body knows for sure whether the actuarial profession is for them until after 2 years in to their BSc., as then they are actually itroduced to the actual actuarial syllabus. First year courses, irrespective of the place, are usually designed to create a level field for students as not every one has same mathematical background. They are designed so that when stduents go to second years they all have same knolwedge and they could choose their options on equal basis.
Finally, I think salaries in the UK, again depends on the region - South-East pays more, and business, i.e. consultancy or life office, are from £25k in London and from £20k rest of the country. Please note that they are starting salaries and depending on number exemptions could be more (roughly £500 per exam).
DT
- Shuja - 08-05-2006
Hey DT,
Congrats on your graduation man!
regards,
Shuja.
- insaan - 08-07-2006
hey DT gr8 dat u hav completed ur bachs
CONGRATULATIONS..
i know u quite long in this forum specially when i myself was sitting for exam P
here i wud just wanna know few things for sake of my knowledge
as far as i remember u were enrolled at LSE..
means u r almost an AIA ,how many exemptions are nowadays being granted...as i havent updated myself since then
now wat u feel is a better route for an entry level student..did u find easy goin with LSE or in ur opinion SOA or IOA had been better options
how much it cost 2 u???on app. aggregate basis
is it possible 2 graduate from LSE alongwith a part time job as many people goin abroad hav 2..means is there any evening program etc
so salaries are still on a rising trend...M I rite..many people i know2 yrs back had an opinion that salary rising trend wud be on a comparative decline
plus are there any exemptions,scholarships etc given by LSE if a student say from pakistan wana join LSE for ay program..let it be accountancy/management/Act Sc
& at wat rank does LSE stands nowadays on international ranking chart
thx..
AND Best Of LUck
+ if u intend to come pakistan do let me know ... i know a few Act profs here...they might b of sum help 2 u
- Shuja - 08-11-2006
Hey Insaan,
Did you sit for exam P in Pakistan?
shuja.
- insaan - 08-11-2006
yah shuja i did but at dat time i had already enrolled myself 4 CA from ICap ,and my 1st target was always CA,so i wasnt ever serious towards ACtsc..however i sat for exam P while preparing 4 CA...so i got a 3..later i realized its not a gud option attemtping ACtSc with CA..as CA itself is a full time study..so i finally opted CA..and now am in module C
well howz goin at ur end????
- Shuja - 08-12-2006
Hey Insaan,
Yeah things are okay, still deciding whether I should study act sci or go into pure/applied math.
shuja.
- derivativetrader - 08-12-2006
<blockquote id="quote"><font size="1" face="Verdana, Tahoma, Arial" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by insaan</i>
<br />hey DT gr8 dat u hav completed ur bachs
CONGRATULATIONS..
i know u quite long in this forum specially when i myself was sitting for exam P
here i wud just wanna know few things for sake of my knowledge
as far as i remember u were enrolled at LSE..
means u r almost an AIA ,how many exemptions are nowadays being granted...as i havent updated myself since then
now wat u feel is a better route for an entry level student..did u find easy goin with LSE or in ur opinion SOA or IOA had been better options
how much it cost 2 u???on app. aggregate basis
is it possible 2 graduate from LSE alongwith a part time job as many people goin abroad hav 2..means is there any evening program etc
so salaries are still on a rising trend...M I rite..many people i know2 yrs back had an opinion that salary rising trend wud be on a comparative decline
plus are there any exemptions,scholarships etc given by LSE if a student say from pakistan wana join LSE for ay program..let it be accountancy/management/Act Sc
& at wat rank does LSE stands nowadays on international ranking chart
thx..
AND Best Of LUck
+ if u intend to come pakistan do let me know ... i know a few Act profs here...they might b of sum help 2 u
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
1. You can get most of the CT exemptions from Act Sc programme at LSE so you are very close to becoming an AIA if you have done a good degree.
2. I think a BS is mmust if you want to succeed in western economies. MS is generally not required and could go seriously wrong if you haven't done it strategically. I think I developed a lot of skills and competencies that I wouldn't have had had I not been to LSE. LSE gives you platform to experience good variety of careers, including financial services, politics, industry etc. If I were to start again, I would still go for LSE. (Note that I took a decision 4 years ago when I had offer from Oxford to go in favour of LSE and since that day I have no regrets).
3. The three year study at LSE would approximately cost about £50,000, which includes tuition, accom. etc.
4. You can work upto 20hrs a week and many students do work parttime to get some cash. All classes for ug studies are in day-time.
5. Salaries depends on industry and profession. In finance, there is a huge range. Starting salaries are low but they can go up rapidly if you are performing well in a profession/firm.
6. For ug there are some scholarhsips available and they are very very competitive.
7. I don't believe in ranking. Thing that counts is if you are studying at LSE or are graduate of LSE, you can explore any thing you desire to explore. You could try management/strategic consulting, investment banking, investment consulting, actuarial, big 4 accountancy, magic circle law firms etc. With a good LSE degree and an interest for further study, you can also get admission in top UK and USA schools.
DT
- iverson - 08-26-2006
hi to all
i am a new member can anyone tell me whats the scope of doing bs in acturial science from karachi university which they have recently started
and can one can make career in USA after studying for this bs from karachi university
i request you all to reply
- mubina - 08-27-2006
AOA
Salam to everyone, I have been reading these forums for quite some time now, and see all the difficulties that everyone is going through. I suggest you check out this site, so that you can see how many people have advice for you that is suitable, also this iste is very good for getting information on reports about accounting!
http//www.feeree.com/pages/accounting
- sherry - 10-12-2006
mr. sumaan plz tell me about the scope of mba from iba or lums
- smarty_aamir - 12-14-2006
Asalam o Alaikum
i m doing BE Textilez frm NED .I just gav my 3rd yr pprz.i wanna info. abt Acturial sciences.
plz ppl send me the whole info. to my e-mail address
muhdaamirkhan@hotmail.com