Actuary vs Engineer

Raeral · 04-10-2012 10:15PM #1

Hi all,
I'm a sixth year student and I'm thinking about what I want to do in college. I'm really good at maths, logical thinking and problem solving and I do maths, physics, applied maths, chemistry and accounting, all of which I enjoy as well as three languages, which I'm not so keen on :P
For the past few years I've always thought I wanted to be an actuary as I heard this was a really good career for anyone who is good at maths. I did some research on it and it seemed interesting enough. However, having gone back and done a lot more research on it, it doesn't seem as appealing. A lot of the stuff I've read gives the impression that actuaries don't actually do that much maths at all, just number crunching and the like which has kind of turned me away from the idea.
So on to engineering. It had always been playing away there somewhere in the back of my mind and while I was doing more research on actuaries, I decided to look into engineering as well. I did work experience with SIAC construction in TY. The type of engineering I was seeing was mainly structural and this didn't really appeal to me. At the time I didn't really realise there were so many types of engineering so I didn't really look much further into it. However, having done research into it I think I would like to go into the field of electronic and computer engineering.
I'm finding it hard now to choose between the two. The salary doesn't really bother me as long as I have enough to live off :L However, I'd like a job with good working hours (~40hrs a week), a good working environment and a heavy focus on maths.
I was just wondering what people thought of these two fields and if they had any advice they could give me. Thanks

Prenderb · 04-10-2012 10:43PM

Sounds like Engineering is the way to go, to me. (I am one, I think). Problem solving and logical thinking - most engineering needs a bit of a fondness for both of these!

Real-world though, in my experience, is less glamorous usually when it comes to the mathematics. There's always some "number crunching" to trudge through (though spreadsheets and modelling software help), and many aspects of the "physical" engineering disciplines, e.g. civil, structural, mechanical are well structured and codified so you may sometimes feel you are just connecting the dots with many of the problems. But there are plenty of other opportunities, e.g. in modelling, where numerical knowledge and mathematical fluency is vital and more everyday.

Engineering is a broad and broadly accepted qualification - many financial and actuarial firms seem to value the numeracy and problem solving skills of the engineer, so that might appeal to you. Also, a civil/structural engineering degree (for example) from many of our universities and colleges will allow you to work in diverse areas such as roads, environmental engineering, fire and safety engineering, water and wastewater provision and so on and so forth. Think of the things that software engineering has done for us, and what the future may hold for that! Imagine the satisfaction of knowing that the stent or pacemaker you helped to design may extend or save somebody's life?

As you outline in your post, the stuff you like is generally the stuff of an engineering education - particularly the maths, physics and chemistry. Doing something you like is half the battle and you may find it easier to study than another area.

If you haven't decided on what type is right for you, consider (depending on your own circumstances) one of the general entry engineering courses that allow you to study generally for one or two years before specialising into the civil / mechanical / software / electronics streams. You must also be realistic in relation to the built environment type of courses too.

Salary as an engineer will probably never bowl you over, but should (should, mind!) be sufficient for a reasonably comfortable existence on this earth. [your mileage may vary].

04-10-2012 10:52PM

Raeral wrote: »

......... I'd like a job with good working hours (~40hrs a week), a good working environment and a heavy focus on maths............

Lots of engineers do more than 40hrs/week from time to time and as many are salaried it's unpaid in so far as they get nothing extra.

Civil, structural etc would be imo boring as feck.

As with any job engineering isn't perfect but as an engineer quite often you get the little wins (sorting something or improving it) that you know yourself was fairly sh1t hot of you and it makes the drudgery worth it.

As above, I'd advise a more diverse course and do also consider science courses with strong industry links.

crazy cabbage · 08-10-2012 11:24AM

Im currently doing electronic and computing engineering in Galway so if you have any questions or that you can drop me a pm.

If you think you might like engineering but do not know which one to go for you can go into an undenominated course in first year and choose after that. That is what i did and to be honest you will be in all the exact same lectures as someone that went straight into a denominated course but you will get to decide what to do after 1st year.

But yea. feel free to drop me a pm if ya have any questions on ECE or engineering courses in general

kevohmsford · 08-10-2012 06:06PM

I have graduated with a degree in Mechanical Engineering. A friend of mine is working in pensions as an actuary. The big money seems to be in insurance.
The exams in actuary are difficult and some of them require a strong background in Mathematics.
A good few people do cross over from Engineering to Actuary. Once qualified the wages for someone working in Actuary are huge.

Actuary vs Engineer

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