Actuarial Science or Financial Mathematics? I’m a second year undergraduate student of Actuarial Science that equally loves finance and pure mathematics. I only knew of Actuarial Science as a career that suited best these two requirements (being mathematically rigorous enough and have much applications in risk and finance) until I found Financial Mathematics which (from what I’ve read of alumni testimonials) is very rigorous in mathematics and strongly based on finance.
Can someone guide me in an academic comparison between Actuarial Science and Financial Mathematics from a mathematical perspective and a financial perspective? And in similar way, a professional comparison? (the math level and finance level of both in actual work).
In case I fall for Financial Mathematics, is a bachelor degree in Actuarial Science a well academic starting point to pursue a masters degree in Financial Mathematics or should I pursue Pure Mathematics before pursuing Financial Mathematics?
Finally, just to evade changing future plans, is there any other career that satisfies the two requirements that I found in Actuarial Science and Financial Mathematics?
Thanks for your help. Pardon the list of questions, they’re too “weak” to ask them separately.
 A: Having been a securities analyst and an actuary, I might give you my perspective (based on several years ago, having long since retired).
The math component in A.S. does not emphasize rigor. Rather it accentuates proficiency in speed and accuracy in applying certain concepts that are "somewhat" relevant to the actuarial profession. In order to pass exams which play an enormous role in your job level and compensation, you have to practice diligently and it is best to come up with expedient mechanisms to solve problems quickly under pressure. From my personal experience, I never explicitly used anything required in the math syllabus. Although it was useful to be aware of the calculation of life contingencies since substantiating the adequacy of reserves used to be the primary function of actuaries.
Now, with the advent of the statuary requirement for Cash Flow Testing understanding the expected performance of assets and where that may break down (e.g. basis risk) can enhance your value as an actuary.
Financial math, in contrast to actuarial math, actually gets used - option pricing, derivative securities, etc. And risk managers have a seat close to the head of the table.
While these these math endeavors have rigorous underpinnings, their value lies in their application. Both areas offer a high degree of job security, good prospects for advancement, definitely interesting and challenging work, and an appreciated contribution in the corporate environment.
However, in my opinion, neither of these provide the same challenges that you will encounter in pure math. As far a personal development, any exposure to pure math will be extremely beneficial. 
