<p>I would like to throw out a question - any input is welcome! Freshman S is hoping to ask these same questions to his advisor, but as of yet, has been unable to meet with him.
Question - is it better to approach actuarial science through the math dept., with a statistics emphasis and Stem (current track), or changing over to the business school, going finance and actuarial specialization, and dropping out of Stem. We know nothing about the business school.
Which will open more doors? Thoughts, comments - welcomed!</p>
<p>I asked my brother (actuary but did not attend UA) your question and he replied</p>
<p>“I think the most important thing is to pass exams - the rest of the courses may or may not be helpful. So, if the courses that help pass exams are in both tracks, I don’t see a difference. Usually, actuarial exams have set textbooks for each exam, and colleges offer courses that use those books and only those books - those classes essentially just become exam prep courses. If those courses are in both alternatives below, then I don’t think it matters which route to take. Personally, I think math department would be more fun, but that’s just me.”</p>
<p>Another opinion from his co-worker. When the writer talks about being sure they mean being sure of the end goal of becoming an actuary.</p>
<p>"My co-worker who’s younger and more plugged into the exam track said this:</p>
<p>“I think if she is sure than business and actuarial science is the best because they have to take tests and get through all the VEE (exams you can “pass” by taking college courses) requirements
If she isnt sure the other leaves her more open to other options”</p>
<p>So, perhaps business is better if the student is sure of what they want to do."</p>
<p>One more “I would look at both paths and see if the “VEE” exams are satisfied either way. If so, then there’s no difference.”</p>
<p>DW is an actuary, so I asked for her opinion. It used to be that a math degree was the way to go, but lately the new hires have mostly had more business-type backgrounds. The math stuff is essential for passing the first few exams (increasingly a must for getting hired), but the later exams involve more business knowledge. Masters degrees in economics, finance, risk management, etc. are becoming more prevalent with new hires. That said, looks like finance with actuarial specialization might be the better way to go.</p>
<p>Don’t know anything at all about either program at UA, but just finished my MBA here in the midwest and can say that the MS Finance is an extremely in demand degree that opens a lot of doors right now (but of course may not be the case in 3-5 years).</p>
<p>My opinion is that the business route is definitely the way to go if you’re not 100% certain of future career path. At least right now, at least here in the midwest, a business degree, especially with a finance emphasis would provide more opportunities beyond the actuarial field.</p>
<p>Also have S reflect on the future. Would he have plans to pursue MBA/move into management eventually? If so, the foundation in business now would prove helpful (personally I had to take several prereqs when I started my MBA due to my liberal arts background).</p>
<p>Thank you all! I knew we’d get some great input, and each comment is just that. Appreciate it!!</p>
<p>I generally see prospecive actuaries majoring in some type of business. The finance department offers most, if not all, of the actuarial classes and exam prep. Students will generally have a strong mathematics background, but may not always major in mathematics through the College of Arts and Sciences as the College of Commerce and Business Administration offers double and triple major combinations that include mathematics.</p>
<p>Has he looked into the option of double majoring in Math/Finance or Math/Economics? They have a special program where some classes count toward both so they finish in 4yrs.
[Programs</a> for Outstanding Undergraduate Students](<a href=“http://old.cba.ua.edu/efl/outstanding-students]Programs”>http://old.cba.ua.edu/efl/outstanding-students)</p>
<p>Yes, thank you! Just today, he received multiple emails, all helpful, regarding the potential for a double major, proposed 3 year track, etc.in finance and math. Yikes, sounds pretty daunting to me, but he thinks it sounds great. Thank you for so many helpful comments. Just what we needed …</p>