From Actuarial Science to Physics

In summary, the author is 21 years old and has a BSc in Actuarial Science. He is interested in physics and has been speaking to friends who are physicists. He has found that there is not enough money to be made in academia as a physicist, and his parents are against him pursuing the path. He has two options: to study physics on his own and hope that he is accepted into a masters programme or to apply to an undergraduate physics programme and hope that he can receive full financial support from his parents. He is unsure of what to do.
  • #1
bensondros
6
0
Hi all,

I am 21 this year, have a BSc in Actuarial Science, and am working in an insurance firm now. Recently, I spoke to a few friends, physicists (both experimental and theoretical) and found that I am really interested in physics, and more specifically, astrophysics.

This is not something that just came out of thin air. Ever since high school, I have always been interested in stuff like stars, galaxies etc, but coming from a typical Asian family, my parents are worried about the career prospects of pursuing this. I suggested aerospace engineering as it is closely related to this area, but they again rejected it, saying job opportunity in this area is scarce. I finally landed on Actuarial Science, as I heard that it requires a heavy application of mathematics, and thought that it might interest me.

However, that was only at university level. Now that I'm working in a firm, it's all economics and finance. Bonds, intesest rate, discount rate etc are the things i hear all day and these do not excite me. I spoke to a theoretical physicist who is teaching maths at my university, and he recommended to me a few books to read. I started reading Gravitation (by Misner Thorne and Wheeler). It was very interesting, much more interesting than what I do at work everyday, but it was way too deep. A friend of mine who has just graduated in BSc Physics with Theoretical Physics suggested that I start from step 1, that is classical mechanics. So I bought 'Introduction to Classical Mechanics' by David Morin. I have been working through this book, both the contents and problems, spending hours everyday on it and finding it very interesting.

I would love to switch careers, but there are so many restrictions, and I don't know what to do.

1. My parents are still against me ditching actuarial science and studying physics. The path towards being an actuary doesn't end at university. I have 15 professional papers to sit for in order to qualify as one. They prefer that I focus on qualifying, and then doing whatever I want. It is, however, very difficult to pass them, especially when I have little interest in finance (and studying physics on my own is so much more interesting!).

2. I have spoken to a few physicists, and they said that money is scarce in the world of academia. There isn't enough money channelled into research and so it is very difficult to get a job in a university.

3. A theorist told me that because he doesn't support the string theory, no university wanted him, so he ends up teaching maths at several universities, while doing research on the side.

4. An experimentalist has described to me the work she does. Designing experiment, calibration, data collection and analysis, these aren't the things I'm interested in. I think I am more interested in theories, but there's only one place theorists can go to, and that is a university. So it's back to job security problems.

There are few paths I can take, and they are as follows:

1. Study physics on my own while working (and not studying for the actuarial exams), and cover all undergraduate topics. But what next? Would any university take my word that I have an undergraduate level of understanding in physics, and offer me a position in a masters programme? Or if I study all undergraduate and masters level physics on my own, and do my own research, would anyone recognise it? All that aside, it would also be incredibly difficult to work my day job and research in physics at the same time.

2. Apply for an undergraduate in physics. There are two problems here. Firstly, I already have an undergraduate degree, so I'm not sure how many universities would want to take me in. Secondly, money. My parents have stated clearly that they will not fund my studies for second undergraduate. That means if I want to start an undergraduate this year or the next, I will need full financial support. I can probably save up to £10,000 with my current job for two years, but that's no where near the tuition fees for even a year in an undergraduate degree. I suspect that these two problems will make me a very undesirable candidate to any university. As far as I know, US universities are probably the only ones who can afford to provide me with full sponsorship.

Would anyone be able to advise me on what I could do? Any help at all would be much appreciated! Thanks!
 
Physics news on Phys.org
  • #2
bensondros said:
As far as I know, US universities are probably the only ones who can afford to provide me with full sponsorship.

Where did you get such a misinformation?

Zz.
 
  • #4
Why not just drop out of acturial work and do statistical work for other organizations. I'm sure there's even an astrophysical organization that could use a data analyst.
 
  • #5


I can understand your dilemma and desire to switch careers from actuarial science to physics. It seems that you have a genuine interest and passion for physics, and it's important to follow your passion in life. However, I also understand the concerns and barriers you are facing, such as financial constraints and your parents' expectations.

Firstly, I would like to say that it's never too late to pursue your interests and passion, even if it means switching careers. Many successful scientists and researchers have come from various backgrounds and started their careers later in life. It's important to keep in mind that your happiness and fulfillment in your career should be a top priority.

In terms of studying physics on your own, it is definitely possible to gain a strong understanding of the subject through self-study. However, it may be difficult to get recognized for your knowledge and skills without a formal degree. One option could be to take online courses or attend summer programs in physics to supplement your self-study and gain some recognition for your efforts.

Another option could be to apply for a postgraduate program in physics. Many universities offer programs specifically designed for students with non-physics backgrounds, and they may have more lenient requirements for undergraduate degrees. You could also look into scholarship opportunities to help with the financial burden.

It's also worth considering the practical aspects of pursuing a career in physics. As you mentioned, job opportunities in academia may be limited, but there are also opportunities in industries such as technology, defense, and healthcare that require a strong understanding of physics. It may be beneficial to explore these options and see where your skills and interests align.

Ultimately, the decision to switch careers is a personal one and should be made after careful consideration of all factors involved. I would encourage you to continue exploring and pursuing your interest in physics, and to seek guidance from mentors and professionals in the field. Best of luck in your journey!
 

Related to From Actuarial Science to Physics

1. What is the difference between actuarial science and physics?

Actuarial science focuses on using mathematical and statistical methods to assess and manage risk in the insurance and finance industries. Physics, on the other hand, is a branch of science that deals with the study of matter, energy, and their interactions. While both fields use mathematical and statistical techniques, they have different applications and focus areas.

2. Can an actuarial science degree lead to a career in physics?

While an actuarial science degree may provide a strong foundation in mathematics and statistics, it may not be sufficient for a career in physics. Physics requires a deeper understanding of concepts such as mechanics, thermodynamics, and electromagnetism, which are not typically covered in an actuarial science curriculum. However, individuals with a strong background in mathematics and a passion for physics may be able to bridge the gap through additional coursework or self-study.

3. How is actuarial science used in physics?

In physics, actuarial science can be used to analyze and predict risks associated with certain experiments or projects. For example, in particle physics, actuaries may be involved in assessing the potential risks of colliding particles at high energies. Actuarial science can also be applied in areas such as astrophysics, where it can be used to model and predict the behavior of complex systems.

4. What skills from actuarial science are transferable to physics?

Actuarial science and physics both require strong analytical and problem-solving skills. Additionally, both fields use mathematical and statistical techniques to analyze and interpret data. Actuaries may also have experience with computer programming and data analysis, which can be valuable skills in physics research.

5. What other career options are available for someone with a degree in actuarial science and an interest in physics?

Aside from pursuing a career in physics, individuals with a degree in actuarial science and an interest in physics may also consider careers in fields such as data science, engineering, or finance. Actuaries with a strong background in mathematics and statistical analysis are highly sought after in a variety of industries and can apply their skills in various roles.

Similar threads

  • STEM Academic Advising
Replies
12
Views
1K
  • STEM Academic Advising
Replies
6
Views
1K
Replies
2
Views
1K
  • STEM Academic Advising
Replies
11
Views
895
  • STEM Academic Advising
Replies
8
Views
1K
Replies
20
Views
676
Replies
2
Views
811
  • STEM Academic Advising
Replies
2
Views
712
  • STEM Academic Advising
Replies
9
Views
1K
Replies
19
Views
2K
Back
Top