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December 14, 2019, 01:15:06 pm

Author Topic: actuarial studies @ melb uni  (Read 9985 times)  Share 

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Akirus

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Re: actuarial studies @ melb uni
« Reply #45 on: June 16, 2010, 10:49:31 pm »
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AzureBlue, you are hyping yourself up for the worst major known to man. You will be a drone, the people in the course are not interesting, the faculty is lacking, you would be much better off taking a couple of the subjects and majoring in finance. There is none of the beauty of math in these subjects, if you "love math" then you wouldn't disrespect it by even calling actuarial studies math. This course is for people that have no people skills and have resigned themselves to be human computers for the rest of their lives because they wont make it in any front office finance position. This isn't the same as some jock laughing at you for liking math, they just don't understand it. This is just rote learning and plugging in numbers, there is nothing beautiful about finding the after tax yield on an investment or valuing an option. If you enjoy actuarial, you actually do not have a soul and I wish you well for what will be a fairly meaningless existence on this earth.

That was beautiful, and I applaud you.

EvangelionZeta

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Re: actuarial studies @ melb uni
« Reply #46 on: June 16, 2010, 10:56:46 pm »
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http://www.beanactuary.org/hs/topten.cfm
http://actuarialgrads.com/articlebyanthem2.htm

Not to sound like an actuary basher, but notice how all of the "BE AN ACTUARY" things emphasise the security and wealth of the vocation?

Not only that, but...

http://www.actuary.com/actuarial-discussion-forum/showthread.php?t=17109

"Generally from what I've seen, the people who hope for heavy math get really disappointed and irritated with the career. If you are content being a business professional who deals with rates and reserves, you'll love it."
« Last Edit: June 16, 2010, 10:59:58 pm by EvangelionZeta »
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darlok

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Re: actuarial studies @ melb uni
« Reply #47 on: June 16, 2010, 11:06:36 pm »
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AzureBlue, yes I have studied actuarial studies.

Ilovemathsmeth

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Re: actuarial studies @ melb uni
« Reply #48 on: June 16, 2010, 11:33:06 pm »
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OK I'm sad now. What can I do that is hardcore Maths/Calculus???
2008: Mathematical Methods 49 | Psychology 50
2009: Further Mathematics 49 | Accounting 49 | Chemistry 44 | English 43
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2012: Bachelor of Commerce, major in Actuarial Studies | H1 Average
You're more than welcome to PM me for any assistance. :)
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tram

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Re: actuarial studies @ melb uni
« Reply #49 on: June 16, 2010, 11:52:44 pm »
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OK I'm sad now. What can I do that is hardcore Maths/Calculus???

same here, but in fariness, darlok, i think ur being a little harsh with ur bashing of acturies.....like, sure it's not the most innovative job in the world but  "If you enjoy actuarial, you actually do not have a soul and I wish you well for what will be a fairly meaningless existence on this earth." is going a bit far.

having said that, i have been concidering for a while to still do act stud, but do a law degree after so as opposed to just being straight acturary i can do something with a bit more.....variance (THAT WAS NOT A PROBABILTY JOKE I JUST COUDN'T THINK OF ANOTHER WORD)

humph

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Re: actuarial studies @ melb uni
« Reply #50 on: June 16, 2010, 11:56:10 pm »
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OK I'm sad now. What can I do that is hardcore Maths/Calculus???
Mathematics in itself?

Otherwise, areas like engineering and physics make major use of mathematical techniques - physics especially uses calculus nonstop. Game theory in economics and even evolutionary biology use more discrete forms of mathematics. But as people have said, Actuarial Studies doesn't use any particularly "interesting" maths.
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darlok

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Re: actuarial studies @ melb uni
« Reply #51 on: June 17, 2010, 12:38:56 am »
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Ok, not having a soul is a bit harsh, but I will explain my reasoning with a little bit of economic theory.

In life people make sacrifices, they decide that maybe studying video game design isn't the best idea, so they decide to do something practical like computer science and mathematics. Now lets simplify this; in their working life people gain utility from there jobs in 2 ways

1. They enjoy their job
2. They enjoy the stability that their job brings through income and employment opportunities in their field

(I will refer to these as 1. and 2.)

Now, this individual would have maximized 1. by going and studying game design, but he realises that the stability and availability of jobs in the game design industry is not great, so the value of 2. will not be very high. So now this individual thinks to himself, how can I make 2. higher without decreasing 1. too much. Basically he is making a compromise between 1. and 2. and the best compromise he could make was to study computer science and maths. The weight place on 1. and 2. vary from person to person, those kids that study music value 1. far higher than someone that studies finance.

Now what im saying is, that someone that decides to study actuarial puts 100% of the weight on 2. and 0% on 1.
They literally do not care about any sense of satisfaction or enjoyment in their job, and I find that very robotic and soulless. If you look at Maslow's hierarchy of needs you will see that they have essentially ignored the top half of the pyramid, which is everything that makes us human.

Now I'm sure that someone will argue that they "love" actuarial studies, and of course you would tell yourself that. If you are neglecting 1., it is your best interest to try and convince yourself you gain great satisfaction from your studies/profession.

Of course I just made this all up, but this was my thought process in calling it soulless.

Ilovemathsmeth

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Re: actuarial studies @ melb uni
« Reply #52 on: June 17, 2010, 01:28:50 am »
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But then I'll probs never find a job where I can sit down all day and solve differential equations/integrate and find areas under curves :( I'm shattered. I thought you did a lot of calculus in probability Maths in actuarial...
2008: Mathematical Methods 49 | Psychology 50
2009: Further Mathematics 49 | Accounting 49 | Chemistry 44 | English 43
2009 ENTER: 99.75

2012: Bachelor of Commerce, major in Actuarial Studies | H1 Average
You're more than welcome to PM me for any assistance. :)
I am providing tuition: Update: 99.75 Tutor for VCE subjects

humph

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Re: actuarial studies @ melb uni
« Reply #53 on: June 17, 2010, 01:59:58 am »
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But then I'll probs never find a job where I can sit down all day and solve differential equations/integrate and find areas under curves :( I'm shattered. I thought you did a lot of calculus in probability Maths in actuarial...
I don't understand why you would think that. Have you had a read now of EvangelionZeta's links? I guess they give you a better idea of what an actuarial actually does.
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AzureBlue

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Re: actuarial studies @ melb uni
« Reply #54 on: June 17, 2010, 08:06:27 am »
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OK I'm sad now. What can I do that is hardcore Maths/Calculus???
same here, but in fariness, darlok, i think ur being a little harsh with ur bashing of acturies.....like, sure it's not the most innovative job in the world but  "If you enjoy actuarial, you actually do not have a soul and I wish you well for what will be a fairly meaningless existence on this earth." is going a bit far.
having said that, i have been concidering for a while to still do act stud, but do a law degree after so as opposed to just being straight acturary i can do something with a bit more.....variance (THAT WAS NOT A PROBABILTY JOKE I JUST COUDN'T THINK OF ANOTHER WORD)
Yeah, same - I actually find actuarial studies quite appealing, as well as economics and law. Hence, I'll definitely go into it first year, if I change my mind I can switch to Bcomm majoring in Economics (and maybe finance, but I'm not sure about finance) with a DipMsc on top - ideally, I would do a Bcomm with a double major in economics and act stud with a DipMsc but unfortunately that doesn't exist due to accreditation subject requirements. Or I might even do a JD after my degree...

And I acknowledge that it isn't for everyone - but whilst some people really seem to dislike it, there are people who have genuinely liked it. "Pursuing actuarial studies has been a thoroughly challenging and invigorating experience. Some of the mathematics behind the models presented is incredible - it's exciting to know that I am learning the frameworks which real companies use to assess their investment opportunities." and other people enjoy the interaction with clients and the modelling process. :) And indeed, the security and wealth is a bonus. Also, quote from EvagelionZeta's link:  "Amazingly enough, the career I chose at 16 has worked out well for me.  I have learned programming and good business sense, but also interpersonal and managerial skills.  Iíve helped train new co-workers, and participated in discussions with executives.  I have found the actuarial profession to be challenging and rewarding in many ways, and offer opportunities for responsibility and recognition that would have been harder to come by in another field. Becoming an actuary has helped me become a well-rounded professional, which I now realize has been my goal all along."

Same goes with other courses; while lots of people enjoy med, I'm one of the people who wouldn't even consider it  ;D
« Last Edit: June 17, 2010, 08:28:48 am by AzureBlue »

AzureBlue

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Re: actuarial studies @ melb uni
« Reply #55 on: June 17, 2010, 08:29:44 am »
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OK I'm sad now. What can I do that is hardcore Maths/Calculus???
If you just want mainly maths - do BSc majoring in Maths :) Or maybe physics would qualify too...

ReVeL

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Re: actuarial studies @ melb uni
« Reply #56 on: June 17, 2010, 10:32:09 am »
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If you look at Maslow's hierarchy of needs you will see that they have essentially ignored the top half of the pyramid, which is everything that makes us human.

OB... *shudders*
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darlok

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Re: actuarial studies @ melb uni
« Reply #57 on: June 17, 2010, 11:32:03 am »
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Haha, did you guys do that in OB. I'm leaving it until 4th year when I am swimming in math and wouldn't mind some pseudobusiness bullshit. I've heard the exam was horrible.

ReVeL

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Re: actuarial studies @ melb uni
« Reply #58 on: June 17, 2010, 11:43:30 am »
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Haha yeah we did touch on Maslow. Fair enough leaving it till last, it's a shocking subject. The exam was horrible this semester, but that probably reduces the chance of a crap exam in the coming semesters, which is encouraging for you!
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tram

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Re: actuarial studies @ melb uni
« Reply #59 on: June 17, 2010, 12:09:25 pm »
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Ok, not having a soul is a bit harsh, but I will explain my reasoning with a little bit of economic theory.

In life people make sacrifices, they decide that maybe studying video game design isn't the best idea, so they decide to do something practical like computer science and mathematics. Now lets simplify this; in their working life people gain utility from there jobs in 2 ways

1. They enjoy their job
2. They enjoy the stability that their job brings through income and employment opportunities in their field

(I will refer to these as 1. and 2.)

Now, this individual would have maximized 1. by going and studying game design, but he realises that the stability and availability of jobs in the game design industry is not great, so the value of 2. will not be very high. So now this individual thinks to himself, how can I make 2. higher without decreasing 1. too much. Basically he is making a compromise between 1. and 2. and the best compromise he could make was to study computer science and maths. The weight place on 1. and 2. vary from person to person, those kids that study music value 1. far higher than someone that studies finance.

Now what im saying is, that someone that decides to study actuarial puts 100% of the weight on 2. and 0% on 1.
They literally do not care about any sense of satisfaction or enjoyment in their job, and I find that very robotic and soulless. If you look at Maslow's hierarchy of needs you will see that they have essentially ignored the top half of the pyramid, which is everything that makes us human.

Now I'm sure that someone will argue that they "love" actuarial studies, and of course you would tell yourself that. If you are neglecting 1., it is your best interest to try and convince yourself you gain great satisfaction from your studies/profession.

Of course I just made this all up, but this was my thought process in calling it soulless.

lol, could you not've just said that in the first place instead of bashing act stud head on?

but yea....agree with eveything here :) You'll find that very few ppl do just PURE acturial for their entire life anyway