I have obtained my first degree in mechanical engineering and I am applying to MSc course in financial mathematics and actuarial science. I have got offer to both courses and I need advice which course to be chosen. To me, both of them seem more or less the same and from my understanding, financial mathematics needs more sophisticated mathematics if compared to actuarial science. I have browsed through some forums and I found that different people said different things about the courses and I am really confused with their say. I would like to ask few questions here and I hope that you can shed some light on this matter.
1. What is the main difference between actuaries and quants in terms of their daily job?
2. Do actuaries use extensive programming skills like quants?
3. Which profession will have more and broader job opportunities?
4. Which one will have more balanced life(less working hours)?
5. Whose prospects will be more promising and who will have more stable career?
6. Do quants work in finance industry only? Can they work in insurance company? Similarly, can actuaries work in banks? If so, are actuaries and quants's having the same role in the same institution, eg. banks?
7. Which one will have better chance to climb to top management level of a company?
8. Whose salary is generally higher?
1. What is the main difference between actuaries and quants in terms of their daily job?
2. Do actuaries use extensive programming skills like quants?
3. Which profession will have more and broader job opportunities?
4. Which one will have more balanced life(less working hours)?
5. Whose prospects will be more promising and who will have more stable career?
6. Do quants work in finance industry only? Can they work in insurance company? Similarly, can actuaries work in banks? If so, are actuaries and quants's having the same role in the same institution, eg. banks?
7. Which one will have better chance to climb to top management level of a company?
8. Whose salary is generally higher?
