Hi guys, really need your advice

College Majors Business Major
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<p>I am a long time follower first time poster and I have a question for all you accounting and finance majors. I am having difficulty deciding in what I want to major in. My options include double majoring in finance and accounting or majoring solely in accounting with a minor in mathematics. Reason being that I also want to take actuarial tests in the future to have something to fall back on.</p>

<p>All our comments and advice would be appreciated since it seems that you guys are very knowledgeable.</p>

<p>Thank you.</p>

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<p>I thought I was going to do the same path as you’re thinking, but you must realize that the actuarial field is, in itself, probably a difficult field. You’ll have to go through calculus in order to take the higher level math courses that deal with actuarial science. However, if you like math or are decent at it, I say go for it. It doesn’t hurt, but just make sure you manage your time well. I’m assuming you’ll be going for the CPA since you seem sure you’re going to major in accounting. Going for both the CPA and taking the actuarial exams (I’ll assume you’ll probably take at least two. That’s the usual entry level, I believe). If you can manage your time well, then you should be fine with these exams.</p>

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<p>Accounting and finance. A minor in math is not enough for actuarial sciences.</p>

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<p>Hey guys thanks for the responses. ijaml, so your deciding on minoring on mathematics as well? And MSFH, I see what your saying. However, I was thinking that I would minor in mathematics and learn the rest on my own. Boise State doesnt have an actuarial program but from what I have read all you need to do is be good at Math, especially statistics and pass your actuarial exams.</p>

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<p>OP, I’m not pursuing it anymore, but I once thought I would. I might take a couple of math courses that pertain to the math that actuarial science/studies requires, but that’s only if I feel like it, haha. Otherwise, I’m probably not going to bother with it anymore. If, however, you think you would enjoy the field, then obviously go for it. After all, you said that you would be majoring in accounting so your accounting degree could be your back-up, or the actuarial degree could be your back-up. Whichever you wanted, but if you’ve been reading these forums, everyone says that accounting is a pretty secure degree compared to many other jobs. I wouldn’t take that for granted, but you know what I mean.</p>

<p>As for the math, it’s not only about statistics. There’s supposedly a lot of probability as well. For my school, which is a liberal arts school (though the business majors are becoming much more common), we don’t have an actuarial science program. There are only suggested courses from the mathematics department for students to take. However, these courses may only be taken once one has passed all of calculus (we break it down in Calc I-III, and then there’s multi-variable calculus, which some call Calc IV). Obviously, you need to determine whether math will hurt your grades or if it will assist you. For me, it sort of hurt my grades. I received a B- for Calc I-III, and then I stopped there (I’m about to go to my fourth semester, so that’s all I could’ve taken anyway). If it weren’t for calculus, I’d probably have a 3.7 GPA or so. Now, my GPA is a 3.5.</p>

<p>Anyway, sort of back on topic, no I’m not minoring in math, and a minor in math probably would not benefit you much for the actuarial exams. I’m no expert and I haven’t researched much on this topic, so don’t fully take my response as knowledgeable. I’m only passing on what I’ve read through memory. Also, your comment about only needing to be good at math is, I assume, an understatement. Passing the actuarial exam takes much more than math because there are certain exams that focus on other things than probability and statistics. I forgot what, but they’re around somewhere. Try to find the website for the actuarial exams and then see if you can find any info on the exams, such as which exams cover what topics, and if there are any practice exams, you’ll see how much math is involved.</p>

<p>If any of the professors have experience with actuarial work or know people who do know others, then you should have a nice network right there. Try asking the professors who specialize in probability and statistics, as well as any math advisers (or is it advisors? they both look funny, lol) and the chair.</p>