Interview with Top Student who wants to leave Actuarial Science | Podcast

[@MJtheFellowActuary]

We answer the big question at 7:50 if you want to jump ahead :-)

[@sarak.7779]

MJ the Fellow Actuary I don’t know but I feel like your video didn’t prove anything, because you always say that students are dropping out from actuarial science because they see that is difficult but your friend here is saying that he wants to study something in depth of actuarial science (he doesn’t think it’s difficult) deeper than what he did. Also clearly he said that he never failed an exam .. so where is your point 🤔?!

[@samfletcher6555]

If I had to speak for myself, the reason why I left ActSci is: after three years of exposure to this industry, I am generally unimpressed. I don't think Actuarial Science, while interesting, quite lives up to it's reputation as an intellectually challenging and stimulating profession. The exam and qualification focused community seems more suited to the diligent academic types, i.e. those kids who checked all the boxes and correspondingly did really well in high school. Conversely, this environment is really frustrating for those of us who consider exams arbitrary and qualifications nothing more than parchment guarantees. My main critique, however, is that I believe Actuarial Science stifles creative and critical thinking. I understand that it is a profession, and like a plumber shouldn't question Pascal's principle, actuaries don't need to come up with a third Theorem of Asset Pricing to do their job. Still, to those us with more academic inclinations who are looking for a deeper understanding of things, it is a disappointment.

[@chrisshah920]

Video starts 8:03

[@loum3965]

I compare studying Actuarial Science to Survivor on a very regular basis and I am so happy I am not crazy for doing that.

[@sarak.7779]

Lou Muller 😂😂

[@thabomotloi759]

Lol this guy tutored me in MAM. He was excellent.

[@wychan7574]

If you want to do intellectually challenging and interesting things do a graduate degree in natural sciences or economics. Actuarians are not researchers they deal with tedious but not technically challenging tasks

[@jackOfAllTrades93]

Quant Finance isn’t all it’s cracked up to be. I was really seeking a career in the field, but I have friends in NYC who have M.S.s and Ph.D.s. from Columbia/M.I.T. that have 10 or more years of experience but are out of work. It’s also worth noting that most of your life is spent dealing with hateful management, very long work hours (> 70/week), and maintaining C++ code written as early as the 80s.

[@DeadPool-jt1ci]

if you're working quant research in top funds , the hours are for sure less than 50 per week, and salary ranges from 300k-600k or more anually lol

[@strider_1237]

Damn, Yuri is my stats lecturer now.

[@Bill_Woo]

The profession USED to be the way it's portrayed. Now it's high pressure, high stress, short-term focused... and you better be a rainmaker, but unless you *genuinely* are irreplacable (and sometimes even when you genuinely are - companies are HIGHLY stupid on that score), companies will not bat an eye at replacing you with a 25 year old for half the salary. In today's short sighted corporate mentality, what was once a vital and honorable profession scarcely ever achieves that status any more. It's not the glamorous job that it's propagandized as.

[@oathmthupha331]

I do get what he's saying. Actuarial science is more of logic than intense mathematics. Mathematical finance is more Intellectually challenging

[@lordxash]

So right EVERYONE did this for the money n math they know

[@trevorkhetsekile7864]

Bro is my stats lecturer 😭

[@kavesannaidoo4421]

Hey I'm also a south African highschool kid who wants to persue actuarial and I'm not sure if I have what it takes. Perhaps some advice on what's your highschool marks should look like would help A lot . Thanks

[@Tshepo-oe8dc]

@Britney Last Name He specifically said marks not courses! Please read carefully

[@anthonytesla8382]

Average of 80% or more for your 6 best subjects excluding LO. Maths 85%+.

[@kavesannaidoo4421]

@@anthonytesla8382 thanks for the reply man. Little update. I managed to get into act sci but decided that it was not aligned with my interests. I'm assuming you're studying act sci/have studied it. Massive achievement. Good luck with everything going forward

[@anthonytesla8382]

@@kavesannaidoo4421 That's great which university did you get into and with how many distinctions? What do you do now? Yeah I'm studying actuarial science at UCT now. Not the easiest course in the world but I'm pushing through.

[@kavesannaidoo4421]

@@anthonytesla8382 I got into act sci at Wits and UCT. Managed to get 7 distinctions in matric. I am currently studying engineering at Tuks. Keep pushing through. It will all be worth it

[@njabulomasina4180]

Start a Hedge Fund

[@mirzaahmed3859]

Hi mj Would like to give me a book list for ct1-ct9. Thanks

[@sarak.7779]

I’m feeling better after MJ saying that he never get proofs, and it doesn’t affect his studies

[@Jacob-ie1eo]

Hi MJ, what is the book series called that you mention in the video?

[@lecee]

It's the joke on the shirt for me, I've been chuckling for 2 minutes straight.lol

[@fabiancalderon6729]

I don't get it

[@biancavanreenen2822]

Hey MJ, would like to know where you got your t-shirt from!? Pretty flippen funny

[@MJtheFellowActuary]

Try this link: teespring.com/en-GB/actuaries-drink?pid=76&cid=5849

[@Lemonkhush]

That's my roommate right there 😎

[@jaymickgraphics7215]

😂😂😂

[@Ditiro100]

Hey MJ do you have a blog where we can ask advice?

[@MJtheFellowActuary]

yes there is a private facebook group and a discord channel

[@kavesannaidoo4421]

Did he just say Logan and Paul...is he trolling

[@romanengelbrecht6717]

hahaha Lekka Yuri!!!!! you so humble you smart ass:) Good job mate

[@Ishmaelstene]

😂😂I had those nightmares and my fears were realised when Prof Stephen at Wits gave us Lorentz curve tutorial. I saw flames💣💥💥💥

[@amogelanglegodi]

I don’t ever wanna see that tut in my life😹😹

[@hloninhlapo4183]

yoh that was the 1st tut Steve gave us and i had wanted to change courses but here we are kicking it

[@delightdegaan7473]

Hi Hloni...how much theory percentage compared to the maths is in actuarial science varsity study

[@hloninhlapo4183]

@@delightdegaan7473 Actuarial science is 0.9 made up.of maths

[@delightdegaan7473]

@@hloninhlapo4183 meaning I can really go for it if I'm a maths person and don't like theory(reading) at all?I mean it will then be just some reading and a lot of practice right?

[@ngcalinqadala2819]

One question, how did you guys balance relationships in varsity with such strict schedules?😂 Can't tell me you were 'popping champagne' for 4 years. 😂

[@ricardofraser4243]

MGF :) MJ I will show you all of MGF, PGF, characteristic funtions if you do some more videos involving Bayes risk

[@dominic2446]

video is too soft.

[@roryspiller]

Pez

[@kreyan007]

Whack things. Just finish your honours at least.