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Actuarial science ranked as most valuable college major

bloomberg.com

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Re: Actuarial science ranked as most valuable college major

#161

Post by SOLAR_FIELDS »

Moodles wrote: post #137
p33p wrote: post #57

As an actuary, I can not recommend it to anyone with a technical background. I have degrees in mathematics and actuarial science, and I consider my actuarial science degree completely worthless. A mathematics and/or computer science degree will teach you more in terms of how to think than anyone with an actuarial science degree. If you’d like to take a major where your professors literally teach to the exam/test, the…

I started an actuarial science degree too and this is exactly my experience. But I then ditched it and took a different path. It was quite a risk at the time (not an actuary joke, oh my god just no). I was 18 and dumb and knew I was good at mathematics and that it was a good career. But it was actually quite dull and, like you say, very robotic. So I was able to switch degrees to pure math and then computer science a…

I also did the same as an 18 year old. It wasn't the math that got me at the time, it was the hardcore statistics. This isn't the mid-tier stuff the data science people get paid for, these are the ridiculous sort of probability problems that just bend your mind trying to wrap your head around it.

I think it's a very powerful job background to have if you ever want to get into investing hardcore. The financial background it gives you is incredibly helpful for making investment comparisons. I still use the stuff that I learned when studying for the FM test for personal finance decisions like paying off mortgage vs student loans vs various basic investments.

Re: Actuarial science ranked as most valuable college major

#162

Post by rayiner »

p33p wrote: post #57

As an actuary, I can not recommend it to anyone with a technical background. I have degrees in mathematics and actuarial science, and I consider my actuarial science degree completely worthless. A mathematics and/or computer science degree will teach you more in terms of how to think than anyone with an actuarial science degree. If you’d like to take a major where your professors literally teach to the exam/test, the…

What if you don’t want to “learn to think,” whatever that means, but instead want to learn how to do a well in a low cost of living area?

Re: Actuarial science ranked as most valuable college major

#163

Post by wolfgke »

sanxiyn wrote: post #103
TylerE wrote: post #90

Earlier quoted context omitted.

There are certainly outliers (I'd argue that programming in general qualifies) but they also tend to be in things that - while I won't say you can't learn them - are things that a certain subset of people are just sort of naturally wired for.

I'd say programming is an acquired taste.

I loved programming naturally when I got an old pocket computer with built-in BASIC (Sharp-PC series) and some books for it from my father who did not need it anymore.

Re: Actuarial science ranked as most valuable college major

#164

Post by mywittyname »

vostok wrote: post #65
rm999 wrote: post #5

Full dataset is here: https://www.scribd.com/document/388081338/BANKRATE-Most-Valu... For those of you who are wondering, Computer Engineering is 14th, "Mathematics and Computer Science" is 23rd and Computer Science is 30th. If I had to guess, CS has a wider income distribution than many of the higher ranking degrees, which are dominated by engineering degrees (many of which have lower unemployment rates too). The no…

I'm very surprised that economics and finance are higher than computer science. I would have expected that corporate finance jobs would have brought the average below that of CS.

They are using "weighted" salary data without specifying how the data is weighted. I suspect this is what is skewing the data.

Like, do most zoologists really make >$110k/yr?

I'm guessing Bankrate is taking people graduate degrees and applying salary information to bachelors degrees. The zoologist with high salaries probably have Ph.Ds in veterinary sciences. Same with Health&Medical Prep; the high salary is likely the result of most people pursuing an MD.

Re: Actuarial science ranked as most valuable college major

#165

Post by rgoddard »

p33p wrote: post #57

As an actuary, I can not recommend it to anyone with a technical background. I have degrees in mathematics and actuarial science, and I consider my actuarial science degree completely worthless. A mathematics and/or computer science degree will teach you more in terms of how to think than anyone with an actuarial science degree. If you’d like to take a major where your professors literally teach to the exam/test, the…

I have worked as a health actuary for the past 6 six years with degrees in both math and computer science. I am happy with my career choice. Prior to this I did work several years as a programmer and decided while I enjoy programming it is not something I want to do all day every day.

My current position allows me to make use of some of those skills along with learning a wide variety of other skills. Although from the sounds of other people's posts I might be lucky in my current position, where I do have variety and challenges and more than only routine work.

But from an education stand point I am glad that I went the route that I did given the additional skills rather than an actuarial science degree. The one downside is that it has made the exam process a little longer.

Re: Actuarial science ranked as most valuable college major

#166

Post by m00n »

jamesrcole wrote: post #112

I find it a bit sad that "valuable" is, without any comment, treated as synonymous with "profitable".

What interpretation of "valuable" do you propose instead? A discussion of remuneration was exactly what I expected when reading the headline.

Re: Actuarial science ranked as most valuable college major

#167

Post by p33p »

rayiner wrote: post #162
p33p wrote: post #57

As an actuary, I can not recommend it to anyone with a technical background. I have degrees in mathematics and actuarial science, and I consider my actuarial science degree completely worthless. A mathematics and/or computer science degree will teach you more in terms of how to think than anyone with an actuarial science degree. If you’d like to take a major where your professors literally teach to the exam/test, the…

What if you don’t want to “learn to think,” whatever that means, but instead want to learn how to do a well in a low cost of living area?

By all means, if you can get through the exams, you will be left with a low stress, well paying job at an insurance company, and you’ll likely have great job security. There is absolutely nothing wrong with that. But as Christensen talks about in one of his books, those are hygiene factors. You can find fulfilling, motivating work as an actuary, but salary should not be the main reason for choosing a career.

Re: Actuarial science ranked as most valuable college major

#168

Post by mywittyname »

GW150914 wrote: post #111
eigenvector wrote: post #107

Earlier quoted context omitted.

Unlike doctors, vets euthanize animals every day. They're comfortable with the idea of a medically induced death. Ask any vet if euthanizing animals makes them uncomfortable and they'll tell you it doesn't bother them at all because they know they are ending the animal's suffering humanely. On top of that, they have access to lethal drugs and know precisely how to use them, how to end their life quickly and painlessl…

Or maybe if you become a vet it’s because you love animals, and killing them day in, day out takes a massive toll.

And I bet you rarely encounter awesome, happy pets. You might get the occasional cute puppy/kitty in for theirs shots (which the vet techs probably do), but I bet most of the pets you deal with are sick and/or dying.

Even if you grow callous to the death of animals, encountering the related human suffering must be miserable. I imagine the people most likely to take their pet to a vet are the ones most attached to them, therefore the most affected by their suffering and death.

Re: Actuarial science ranked as most valuable college major

#169

Post by m00n »

p33p wrote: post #57

As an actuary, I can not recommend it to anyone with a technical background. I have degrees in mathematics and actuarial science, and I consider my actuarial science degree completely worthless. A mathematics and/or computer science degree will teach you more in terms of how to think than anyone with an actuarial science degree. If you’d like to take a major where your professors literally teach to the exam/test, the…

"Completely worthless" is not what comes to mind, when it provides your living.

If it doesn't fulfil you, and you have a math degree, why not change careers?

Re: Actuarial science ranked as most valuable college major

#170

Post by jamesrcole »

m00n wrote: post #166
jamesrcole wrote: post #112

I find it a bit sad that "valuable" is, without any comment, treated as synonymous with "profitable".

What interpretation of "valuable" do you propose instead? A discussion of remuneration was exactly what I expected when reading the headline.

First of all, there doesn't have to be a single definition. Here's some other factors that could be part of "value":

- degree of job satisfaction

- how much that sort of work benefits the world

It's very narrow to equate value only with money.

And because I know someone is going to misinterpret what I'm saying, I'm not saying there's anything wrong with equating value with money. It's just a bit sad when that's all value is equated with, and more so when it's just an unstated assumption like in the article.

You can compare all this with how college degrees used to be about more than just getting a job. The goal used to include making the person a well rounded person. These days it seems treated solely in financial terms.

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