So I’m thinking about being an actuary, or at least someone who deals with data or something. Not really sure yet, I haven’t thought that far yet because I’m a senior in high school. Anyways, is applied math a good path to take or is pure math better? I don’t think I want to major in statistics but I heard it’s a good major for an actuary. Also, what exactly is the difference between applied math and pure math, course wise? I heard applied math is geared more toward engineering and sciences.
So I guess my main question is if I want to be an actuary or something similar to it, what exactly should I major in? I was thinking of double majoring in applied math and business administration or minoring in business administration.
Your major doesn’t matter, so you should just choose based on your interests. For your first semester, I would recommend taking calculus and an introductory programming class. If you took AP Calculus BC in high school, you’ll be ready for multivariable calculus and a calculus-based statistics class.
Passing exams (typically starting with P and FM, which deal with probability and financial mathematics respectively) is the most important part of becoming an actuary. You can take classes to help prepare for the exams, or you can study on your own. After you’ve passed an exam or two, you should look for a summer internship.
In addition to passing exams, a lot of actuarial job postings mention Excel (including VBA) and SQL. For that reason, I would recommend taking a computer science class on database systems. At my school, the prerequisites for this are introductory programming and data structures.
If you want, you can try to meet your VEE requirements by taking classes on economics, corporate finance, and applied statistics. (Look up your school [here](https://www.soa.org/Education/Exam-Req/Instructions-for-VEE-Directory.aspx).) It’s fine if you don’t take these classes because there are alternative ways to meet the VEE requirements after you’ve been hired somewhere.
It depends on the school. At my school, the applied math major is basically the same as the general math major, except that you have to choose an application area and take classes in it. The statistics major omits some upper-level math requirements (e.g. abstract algebra and real analysis) in favor of upper-level statistics classes.
As a major, applied math is not inherently more employable than pure math. Math majors can go into lots of different careers, but most of them require you to study other subjects (education, computer science, statistics, etc.) and ideally seek out work experiences (internships, co-ops) to prepare for them. These things, rather than the name of your degree, will determine how employable you are.
Thank you!
It’s also worth taking into account that some schools may not have applied math but have a more flexible math major.
For example, my university only has “math” and “mathematical economics” in terms of math degrees. The latter includes a lot of Econ classes and does not include a lot of the higher level pure math courses as options (things like probability and stats count). I’m a math major, but I’ve tailored my electives to be more of an applied math degree with a focus in cryptography. I still have to take Calc 1-3, linear algebra, group theory, real analysis, etc, but for my major electives I’m taking classes like probability, stats, coding theory and cryptography, number theory, numerical analysis, etc (instead of classes like diff eq, complex analysis, ring and field theory, topology, etc).
I’m also a computer science major and a very common combination at my university is mathematical economics and computer science, particularly for individuals wanting to go into accounting/finance fields. There are actually quite a few schools that offer mathematical economics degrees, so that may be something worth looking into.
Thanks!