Hello,
I've read a bit on how "applied math" would be a good major. Does actuarial science count as applied math? Do we have a designed major or courses that would be of this sort? Thanks.

Actuaries are extremely useful majors. Most banks and financial firms actually hire Actuary/Physics/Math/ Computer Science majors for all their quantitative work. No Commerce student will ever touch these jobs as they don't have the expertise in maths to compute how derivatives/futures/financial models will work. They pay really well too!

You can do the Honours Actuarial & Financial Mathematics degree from the Math & Stats department. However, the courses will not prepare you for any of the exams. They will give you basic understanding of Exams 1/P (2D03), 2/FM (2FM3), 3LC/MLC (3G03/3H03) and 3F/MFE (3FM3/4FM3). Not nearly enough to pass the exams. There is no McMaster course that gives introduction to Exam 4/C.

The entry level pay is extremely good, however landing an entry level position requires multiple internships to be competitive. It is not an easy field to break into. Try to have 4 exams by graduation if you do not have any job experience to back it up.

Originally Posted by allanandthera

No Commerce student will ever touch these jobs as they don't have the expertise in maths to compute how derivatives/futures/financial models will work. They pay really well too!

Actuaries tend to work in insurance companies. This is a business profession (almost all Excel/Access/VBA/AXIS and SAS at some places) and not a strict "stats" job. Most actuaries do not work with derivatives or futures, but work with financial models related to insurance.

Good luck!