Actuarial Science: Waterloo of UofT?

[chlorine]

posting on behalf of my sister... she is debating between going to Waterloo for Co-op Actuarial Science and going to U of T for the non co-op program.

Anybody in either program?

We live in the GTA, so going to U of T means she will continue to live at home and depend on the TTC to get downtown.

Both have accepted her but UW is still waiting for her English proficiency test scores... she has to take another TOEFL-like CAEL test in the summer.

thanks.. any comments would be appreciated.

[wetsnot]

UofT's program is very thorough.
Even with the SOA/CAS exam syllabus changes, I'm still more than prepared to write the exams.

Co-op is good if it's guaranteed placement. Otherwise you'll have to battle it out for a summer internship (this is extremely important).

I would assume she knows about the SOA/CAS exams.
An actuarial science degree won't land you an actuarial job.

Whichever school is choosen, actuarial science is not for the faint at heart. A good student should have 3-4 professional exams completed upon graduation.

The key to success is writing the first professional exam by the 2nd year, and the second exam in the very next sitting. This will almost guarantee an internship with an insurance company in the 3rd year.

Sam Broverman, who write ACTEX manuals for the SOA exams is a professor at UofT

[chickenbones]

I think CO-OP would provide good experience. So I would lean towards UW. But of course there are extra costs involved with going to UW.

I think for most CO-OP terms, she would be most likely working in Toronto. So that's a good balance I would think.

BTW, I'm speaking in general, I think the poster above me knows more specifics.

[M@rk]

I actually considered going into that... my dad has friends who are actuaries and they all say Waterloo is by far the best, in terms of reputation and quality of the program. Plus, co-op would definetely be helpful in a field such as this, so it seems like a no-brainer.

[wetsnot]

I think CO-OP would provide good experience. So I would lean towards UW. But of course there are extra costs involved with going to UW.

I think for most CO-OP terms, she would be most likely working in Toronto. So that's a good balance I would think.

most insurance companies in Toronto don't do co-op for actuaries. They prefer that we fight each other for summer internships.

UofT also has PEY, professional experience year.
Kind of like co-op but placement is not guaranteed.

[veryhuman]

most insurance companies in Toronto don't do co-op for actuaries. They prefer that we fight each other for summer internships.

i'm 4th year in the program at loo. and that's not true.

[chickenbones]

most insurance companies in Toronto don't do co-op for actuaries. They prefer that we fight each other for summer internships.

UofT also has PEY, professional experience year.
Kind of like co-op but placement is not guaranteed.

I see. This is what happens when you have so many smart (mostly Asian) immigrants, who will fight for work experience and work for nothing. And they are smarter and harder working.

[wetsnot]

i'm 4th year in the program at loo. and that's not true.

hmm...maybe insurance companies don't like UofT?
there were no participating companies for PEY.

if placement is guaranteed in waterloo for co-op then for sure i'd say go with waterloo

[M@rk]

I see. This is what happens when you have so many smart (mostly Asian) immigrants, who will fight for work experience and work for nothing. And they are smarter and harder working.

At least they deserve it. It's better than giving jobs to people who coast through their education drunk half the time.

EDIT: we all know both asians and whites do this, so don't call me a racist.

[wetsnot]

At least they deserve it. It's better than giving jobs to people who coast through their education drunk half the time.

EDIT: we all know both asians and whites do this, so don't call me a racist.

we know you meant people at UWO.

i remember seeing UWO's calendar, they have courses for SOA/CAS exams. But i'm not sure if they have degree program for act sci.

[veryhuman]

hmm...maybe insurance companies don't like UofT?
there were no participating companies for PEY.

if placement is guaranteed in waterloo for co-op then for sure i'd say go with waterloo

co-op placement at waterloo is not guaranteed.

we know you meant people at UWO.

i remember seeing UWO's calendar, they have courses for SOA/CAS exams. But i'm not sure if they have degree program for act sci.

yes they do. i have a friend who's having sucess with the program and SOA exams attending UWO.


in the end, its alot to do with self discipline, you can be a highschool graduate. and self study your way to be an actuary. and people will respect that.

[goobelygoop]

At least they deserve it. It's better than giving jobs to people who coast through their education drunk half the time.

EDIT: we all know both asians and whites do this, so don't call me a racist.

LOL That is people at Rye-high...including me! :P

[wetsnot]

co-op placement at waterloo is not guaranteed.

that figures. everything about being an actuary is competitive.




I can't speak for the other schools but I'm 100% confident in UofT's Actuarial Science program. I've been through it. Staff is good. Courses are good. Sam Broverman is amazing. He has this strange way of making complicated questions ridiculously easy.

But i'm pretty sure other schools with an actuarial program are excellent as well. Laval apparently has a good one as well.

[chlorine]

Thanks for all the replies... it's definitely good to hear about people who are attending both schools or have gone through the programs.

just wondering if it's a disadvantage to go to U of T... since you'd have worked less.

The key to success is writing the first professional exam by the 2nd year, and the second exam in the very next sitting. This will almost guarantee an internship with an insurance company in the 3rd year.

Do you mean the summer between 3rd + 4th year? What about the 2 summers before that...

i'm 4th year in the program at loo. and that's not true.

Could you elaborate on your experience there? How tough was it to find co-op placements? When did you write your exams?


I've done PEY as an Engineer and I think it's too long... going back to school is tough for most people after a year off.

What about internationally? Is Waterloo as recognizable as UofT? I guess specially I'm wondering about Hong Kong and the US. Thanks.. I'll ask my sister to come back with more questions...

[actuary]

Not sure if this helps, but I did my studies at UofT.

However, we have more Waterloo grads at my office than any other university. Second place is Western and UofT is a distant third.

I do personally believe that UofT is the better choice, but I am very biased.