Combined 5 years Bachelors/Masters Program in Applied Math and Statistics

[Ren_St]

What do you guys think about this program? I have considered being an actuary but will be completing only my second undergraduate year. I plan to apply for this program at Johns Hopkins University instead of completing just a bachelor's degree in applied mathematics thinking it will open more options, and the classes really is not too bad (in fact, I was going to take a few of those graduate level requirements even if I didnt do the masters). What advantage would doing this have if I choose to become an actuary or if I choose not to? Where would a masters in applied math be useful (I know its pretty much irrelevant for the actuarial profession), and are there other jobs you think are "better" than or "equivalent" to being an actuary that having a masters might open up?

[_BullDog_]

how many exams are the graduates expected to have passed compared to the graduates of the bachelors program?

[Merk]

Having the masters will open up more jobs if you decide not to pursue Actuarial science. how many more, I'm not sure.

I don't know if the masters would be useful in helping you gain entry to a Ph.D. program.

I don't know if the masters is likely to help within the field of act sci.

Note that a masters in a non-actuarial field is not as valuable as fellowship in an actuarial field (IMO).

[JohnLocke]

Having read all the posts so far, I think this is a great discussion.

As a current University of Illinois student, I am entirely against any exam credit for classes. There exists too much room for inconsistent standards. And you can learn so much more (and faster) studying on you own. I think actuarial science is a great major since it combines so much (finance, econ, stat, math, etc...), but it should not replace exams.

Earlier question: Why do we still use the university system?

I don't know. I think for many subjects its outdated. I largely don't like the system (for more quantitative subjects...not like English). It is much more effective to study on my own. In many ways, I find the university system stifles my learning process. The problem is that EMPLOYERS want the degree. And, in the end, job concerns outweigh academic concerns any day.

[JohnLocke]

Originally Posted by JohnLocke

Having read all the posts so far, I think this is a great discussion.

As a current University of Illinois student, I am entirely against any exam credit for classes. There exists too much room for inconsistent standards. And you can learn so much more (and faster) studying on you own. I think actuarial science is a great major since it combines so much (finance, econ, stat, math, etc...), but it should not replace exams.

Earlier question: Why do we still use the university system?

I don't know. I think for many subjects its outdated. I largely don't like the system (for more quantitative subjects...not like English). It is much more effective to study on my own. In many ways, I find the university system stifles my learning process. The problem is that EMPLOYERS want the degree. And, in the end, job concerns outweigh academic concerns any day.

I have no idea how I managed to post this in the wrong forum

[Maphisto's Sidekick]

Originally Posted by Merk

I don't know if the masters is likely to help within the field of act sci.

Exams probably trump a Masters in "bread and butter" actuarial work.

However, some of the more intriguing actuarial/predictive modeling postings I've seen seem to place at least as much emphasis on an advanced degree as exams.

[Jack]

It won't help you with getting into actuarial science but it may open doors to other careers if you find actuarial work is not for you.

Getting a bachelors and a masters in just five years seems like a good opportunity.

[campbell]

Certain areas of actuarial work are very stats- and math-heavy, and there is growth in some of these areas due to regulatory changes coming down the pike. So I say lard on as many applied math & stats classes as you can, particularly modeling & numerical algorithms stuff.

I've got a masters in math (and dropped out of a PhD program) and I found my math education has really helped me in exploring new models for projects and got me some really cool assignments for an otherwise low work experience person. So I'm obviously very positive about taking this sort of path.

[Merk]

I like the masters option. JMO.

[JMO]

Originally Posted by Merk

I like the masters option. JMO.

You rang? Must be some other JMO.