 Hey guys, it's MJ the student's actuary and in this video We're gonna be looking at the process of becoming an actuary if you're from Spain And you know what degree choice you should do and all of that and the reason for this video is because of this comment I told them to study mathematical statistics But apparently that degree doesn't exist in Spain and the choice is between mathematics or statistics So just to get a little bit of background. I saw that Spain does have an institution for actuaries I don't think it's as well developed as all the other ones I also came across this comment which said that the salaries and the Sophistications of actuarial science in Spain is quite low So if you are in Spain, I would consider maybe joining the actuarial association of Europe or Going with the Institute and faculty of actuaries. This is the one based in the UK Or going with one of these mutually recognized agreements So either the one in Europe just because you're in Spain Spain's in Europe Australia India South Africa Canada America Japan and Israel those are all like the top actuarial associations So you definitely want to align yourself with one of them but coming to the question is there wasn't an Actuarial science degree in Spain so the choice is between the special degree in mathematics and special degree in statistics I'm just gonna go through their curriculums and they make a choice What is nice about this bachelor's degree in mathematics is that you can see that it says you'll be able to pursue a career in business or Industry or in banking and finance consulting health or services. So that's definitely a plus on the actuarial side For the first semester, I like that you're doing computer science the fundamentals of mathematics algebra calculus You know, that's all stuff that act trees will need to know The geometry that's not that much differential calculus. It's a small bit of actual science discrete maths and You know numerical linear algebra. They play a small role in actual science, but I don't know if you have to focus too much on that Same with these ones mathematical programming that does stand out for me, which I think is a really good thing Physics and topology. I don't think we did that. So that's going a little bit on to something else Probability theory that's very important. Although it's it's a pity that such a small part is is defined to it Mathematical models in physics. I don't really think you need to know too much there But I do see that in the mathematical course. They have included statistics as one of their their topics It's in the seventh and eighth semester where things do actually get a little bit more interesting Bayesian methods is very very important What else is very very important over there Time series analysis is important But you're gonna be seeing that by going the mathematical route You're gonna be learning a lot of mathematics that isn't necessarily applied to actual science in the traditional sense So you'll be learning a lot of additional things that you might not be applying to the actual side But you will be doing I mean the financial mathematics is very important You don't need to know the history of mathematics to become an act tree What else do they have here? Queuing theory and simulations so I mean you might be able to apply these things in actuarial science But overall you're getting a lot. You're doing a lot more mathematical mathematics than is required Having said that under the professional opportunities for this degree You know there is banking finance and insurance risk analysis, which is very much Actuarial and the fact is if you got a good grasp of mathematics, you can understand Cryptography, which I do think is a you know a booming industry So I would say this is actually a good degree to do if you want to study actual science However, I actually prefer the bachelor degree in Statistics and the reason for this is that if we look at the courses is there a lot more attuned to the actual science syllabus You know so you do need to do a little bit of business administration. You've got the calculus. You've got your probability You've got your statistical inference. You know, these are all very important things. So is your principle of economics I love that they've got programming in their linear algebra. Also, you do need to know just a little bit of that Integer linear programming great multivariable calculus. I remember doing that. I Remember doing it, but I haven't really applied that in actuarial science, you know directly But I did mathematics pure for two years and then mathematical statistics is what I majored in along with actuarial science Probability and stochastic processes. That's very important Statistical software. That's a really cool thing to learn as well So yeah, you can see third course Bayesian methods. So there is a lot of overlap Remember we saw Bayesian methods in the other one as well but I'm just feeling like this one is a Lot more focused on the actuarial science mathematics that you need Demography it's always good to do a course in that Medical statistics if you want to go into like health insurance and all of that again, you've got your time series analysis You're doing your daughter mining. You've got your statistical methods for finance and insurance So overall, I really really prefer this course over the pure mathematical one Also, if you see the third bullet point it says economics and finance actuarial science insurance banking risk assessment and Lending stock markets management of securities portfolios financial analysis market research Competence analysis and pricing policy. So that is that's actually great So I would I would do that one and then I would go and do a masters on top of that that focuses in Actuarial science Remember that it's very important that you realize that there's two ways to becoming all these two things that you need to become an Actuary you need your degree and then you need to go and join one of the professions which I introduced in the beginning of this video and That's what you need So you need to do your degree which I've already done now and now what I'm doing is I'm busy writing the additional exams To get into the profession and once you've got those two things done That's when you become come an Actuary. There's a few other things But in a broad base those are the two things you need But anyway, thanks so much for watching and if you have any questions, please feel free to leave them in the comment section below Thanks guys. Cheers