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Can I get into actuarial profession with a Music degree...

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Reply 180
JohnnySPal
My graduate CV was a one-pager. I agree with the logic of the TSR crew - graduates going for high-end roles (such as your actuarial analysts or investment bankers) will tend to have limited relevant experience in the profession. I found myself questioning why employers would want a detailed breakdown of ultimately irrelevant roles, aside from a mention of the relevant skills (communication, technical etc.) that I clearly demonstrated. You'll then be able to drill those skills home because you'll most likely have a competency-based interview.

Having said that, I did have to tinker quite a lot with page borders, compression of information and the lark to get that badboy to fit with a decent amount of white space and ARGH I HATE CVS :p:

How far are you? You in any kind of job? If not I imagine you can put in a two-three week slog and finish the notes quite quickly. I finished the notes and couldn't remember half of it, but training myself on past exams sorted me out. It's all good.

I finished CT4 this afternoon :h:


Yeah, I kind of agree with their logic, but I have five institutions in my "education" section, and even with only two jobs listed that's a whole page in 11.5 font and fairly small margins. It would be really hard for me to add on stuff from uni - even if I left off most of it. I did have a one-page CV for a while, but I kept getting rejected anyway and EVERYONE I talked to about it said, "Well, you have barely any of your experience listed on here, why is it only a page? Make it two," as though this was a really obvious thing to do. I think the vast majority of people have two-page CVs so I'm hoping it won't be a disadvantage to have mine the same. Although sometimes I wonder if I should cut it down again.

Man, I HATE geometric progressions.

By the way, are you asked for many proofs in the exam? They're the worst.
Jelkin
Yeah, I kind of agree with their logic, but I have five institutions in my "education" section, and even with only two jobs listed that's a whole page in 11.5 font and fairly small margins. It would be really hard for me to add on stuff from uni - even if I left off most of it. I did have a one-page CV for a while, but I kept getting rejected anyway and EVERYONE I talked to about it said, "Well, you have barely any of your experience listed on here, why is it only a page? Make it two," as though this was a really obvious thing to do. I think the vast majority of people have two-page CVs so I'm hoping it won't be a disadvantage to have mine the same. Although sometimes I wonder if I should cut it down again.

Man, I HATE geometric progressions.

By the way, are you asked for many proofs in the exam? They're the worst.


If it isn't possible to get it on one page without missing necessary information out then make it two pages. Common sense really :dontknow:

Geometric progressions? Dude how far in are you? Isn't that mainly section one stuff?

Nah you don't get asked for many proofs in CT1 IIRC. Any proofs asked will be relatively simple.
Reply 182
JohnnySPal
If it isn't possible to get it on one page without missing necessary information out then make it two pages. Common sense really :dontknow:

Geometric progressions? Dude how far in are you? Isn't that mainly section one stuff?

Nah you don't get asked for many proofs in CT1 IIRC. Any proofs asked will be relatively simple.


You say it's common sense, but really, it completely depends on how you define "necessary information". And that's the issue, really. But when I had it one page it wasn't very inspiring!

What do you mean by section one? If you mean chapter one, then no! That doesn't even have any maths in it. But if you mean part one, i.e. chapters one to seven, then yes, I am only in that section still :sad: I know, I need to hurry up. For quite a while I just wasn't studying for long enough stretches of time - I think I was too blase about it all - but now I'm better at actually getting down to it. Don't judge me :frown:
Reply 183
Jelkin
[...] but I have five institutions in my "education" section [...]


:eek: How on earth do you have five institutions listed under education?!
JohnnySPal
Screenshot of my CV:



Better update your CV - it's the "Institute and Faculty of Actuaries" now :wink:
Jelkin
What do you mean by section one? If you mean chapter one, then no! That doesn't even have any maths in it. But if you mean part one, i.e. chapters one to seven, then yes, I am only in that section still :sad: I know, I need to hurry up. For quite a while I just wasn't studying for long enough stretches of time - I think I was too blase about it all - but now I'm better at actually getting down to it. Don't judge me :frown:


How long do you study for? Personally I always ensured I studied one chapter in a sitting when going through CT1. In the last section that of course meant 4-5 hours at a time on a Saturday morning, but hey I had no choice with having a full time job (plus lunch was always gooood afterwards).

Mustard-man
Better update your CV - it's the "Institute and Faculty of Actuaries" now :wink:


**** the Scots, I'm an institute member and proud :cool:

Srsly, I'm not all that clued up on the profession, but why didn't the merger happen a long time ago? It makes no sense to have two bodies set up when UK folk can opt to join either of them. Sheeeeeesh what are they, gay at business and finance or something? :p:
JohnnySPal

**** the Scots, I'm an institute member and proud

Srsly, I'm not all that clued up on the profession, but why didn't the merger happen a long time ago? It makes no sense to have two bodies set up when UK folk can opt to join either of them. Sheeeeeesh what are they, gay at business and finance or something?
Lol, who knows... I only realised because I had to write the Pensions weekly newletter at my work...
Reply 187
A bit of a random question... but does anyone have an idea when the new directory of actuarial employers is coming out? The one for 2010/2011?

Just asking as I'm cold-calling companies that specialise in investments for actuarial internships in the Easter/summer, and wanted a more up-to-date list. Quite a few firms are actually missing from the current directory!


EDIT: Also, if anyone knows specifically of any decent firms which hire actuaries within investments, please let me know! My current list consists of:

 Alico
 The Co-Op Financial Services Ltd
 Legal & General Assurance
 Standard Life
 Barnett Waddingham LLP
 BDO
 Buck Consultants
 Deloitte
 Hewitt
 Hymans Robertson
 Jardine Lloyd Thomson
 KPMG
 Lane Clark & Peacock
 Liverpool Victoria
 Mercer
 Milliman Ltd
 Nigel Sloam & Co
 PwC
 Skandia
 Towers Watson
Reply 188
Just curious, but are the reports from wiki/google of an average salary of £45k once fully qualified true or are these being exagerated?
Reply 189
Rakas21
Just curious, but are the reports from wiki/google of an average salary of £45k once fully qualified true or are these being exagerated?


The Actuaries Profession website has it at £43,930. I'd say, however, that £45k - £60k is a truer figure, but of course this depends on the firm you're working for and the location, and importantly on how good you are as an actuary. (Two actuaries at the same firm with the same responsibilities won't necessarily be on the same salary.)
Mustard-man
Lol, who knows... I only realised because I had to write the Pensions weekly newletter at my work...


Pensions BOO BOO HISS.

GilbertLam
Hey Jelkin. Hope you're not too stressed out at the moment. Just saw this post and it raised alarm bells slightly. Do you have one month left? If you haven't reached part 2 yet then I would strongly advise you to do so quickly. If you don't have enough time you may have to 'cherry pick' topics. Normally if the exam have questions based on chapters 1-5 they are mostly worth only 3-5 marks. They love to put questions worth like 15-20 marks in based on the later chapters! And obviously these are the most important questions to tackle. My suggestion is probably working hours on end everyday until the exam (if you're not doing so already) and look at past exam papers too. Sorry if I come across as a dick in this post :frown:


The man has a point. Being at the end of the first section doesn't really mean you're a quarter of the way through the material. Also being at the end of the first section doesn't mean you'll be able to get a quarter of the marks on the exam.

.ACS.
The Actuaries Profession website has it at £43,930. I'd say, however, that £45k - £60k is a truer figure, but of course this depends on the firm you're working for and the location, and importantly on how good you are as an actuary. (Two actuaries at the same firm with the same responsibilities won't necessarily be on the same salary.)


Yeah I agree with the man. Though I'd argue that they're on similar salaries, while one gets a nice chunky end-of-year bonus and the other doesn't.

I'd be disappointed to 'only' be on £44k when fully qualified, given what I'm on now with two passes.

As for your question, I can't help I'm afraid, but hopefully someone else will. I could suggest trying to get hold of a copy of The Actuary, or phoning up recruitment agencies :dontknow:
Reply 191
JohnnySPal
As for your question, I can't help I'm afraid, but hopefully someone else will. I could suggest trying to get hold of a copy of The Actuary, or phoning up recruitment agencies :dontknow:


Thanks, I didn't actually think of checking in The Actuary or to phone recruitment agencies! Do you have any tips on which recruitment agencies are good? I only know of Reed. Also GAAPS.

I'm really tempted to ask some of the people at Fortis, or the contact I had who I got the internship through, but they want me back and so I don't know how they would feel about helping me find an internship elsewhere. :s-smilie: Even if it's just to gain a greater insight into the actuarial world and decide on which field is definitely for me. They're probably not spiteful like that, and wouldn't mind helping me decide on which area is right for me, but I just can't help thinking it might put them off or something. :p:
.ACS.
Thanks, I didn't actually think of checking in The Actuary or to phone recruitment agencies! Do you have any tips on which recruitment agencies are good? I only know of Reed. Also GAAPS.

I'm really tempted to ask some of the people at Fortis, or the contact I had who I got the internship through, but they want me back and so I don't know how they would feel about helping me find an internship elsewhere. :s-smilie: Even if it's just to gain a greater insight into the actuarial world and decide on which field is definitely for me. They're probably not spiteful like that, and wouldn't mind helping me decide on which area is right for me, but I just can't help thinking it might put them off or something. :p:


I got my job through Reed so they naturally come recommended. They even bought me a beverage in a coffee shop in Victoria to go through stuff with me before my successful interview, the fools.

I also really got on with Emerald, but I wouldn't take every worth they say as gospel. When I got my offer they did their best to put me off the job, by saying for example there wasn't a study contract available when there is and always was, probably because they were smelling some easy commission for themselves (not to big myself up, but I did get an offer after my second actuarial interview in a mega competitive market, so I must've been doing something right).

If you whack your CV on monster.co.uk or something you'll probably get a few phoning you up. That's what happened to me, anyway. I'm guessing that mightn't be appropriate for you just yet though!

Are GAAPS that intern specialising one? If so then obviously that's a very good option :yep:

Might be a bit weird asking Fortis, and hey will they necessarily know the answer? Seems like a risky strategy to me, but hey what do I know? :dontknow:
Reply 193
JohnnySPal
The man has a point. Being at the end of the first section doesn't really mean you're a quarter of the way through the material.


Seriously??? So having done seven chapters out of fifteen, one is still not a quarter of the way through the material? I mean, I know the chapters get longer, but how does that work? I get the marks thing, of course.

It's funny, actually, as chapter 3 took me AGES to get through, and looking back I'm not really sure why as I don't think I found it especially hard - it's been going faster since then! I'm not that worried overall, but occasionally I panic a bit. I am hoping to have gone through all the chapters by the end of August at the latest, then I have over five weeks of exam papers to work with. I'm hoping this isn't too optimistic - my friend whom I convinced to also take the exam ( :p: ) is on chapter 11 and he seems to have been able to continue at quite a steady rate so far.

GilbertLam
Stuff


Your post made me **** myself at first, but then I sat down and thought about it a bit and I don't think I need to worry TOO much, so long as I keep up a good rate of work. Thanks though :smile: I am hoping it won't come to having to pick topics to study! Did you find the later chapters took a lot longer than the earlier chapters?

Dang, I meant to ask you fine people something else about the exam but now I really don't remember what it was.
Reply 194
GilbertLam
It's gone a bit quiet here; everyone studying hard I bet lol.

About to go to uni but I lost my accommodation offer cos I didn't confirm it :frown: I know, silly huh? Well, now I'm homeless atm and have to commute to London...yey.


Ah, crap. Did you sort it out in the end? I didn't send in my accommodation deposit to the Lund International Housing Office before the deadline, because I was thinking I wouldn't go, but then I changed my mind and emailed them about it. They were nice enough to say I could still have my room, which was good as housing was really hard to find! Will you have to commute at first? Maybe if you make a good friend there, he will let you sleep on his floor for a bit?

Yep, I've been studying, and it's been going pretty well overall. I managed to get into an email correspondence with a guy from LCP and he was quite positive, which was nice. I'm going to apply there today and also to EMB, I think.

So will you apply to actuarial internships while at uni?

EDIT: By the way, there is a "Graduate Career" supplement in The Times today and it has an article about how graduates should go for less sought-after careers - with the example, "Accountancy is saturated with applications, but actuaries are much less sought after." I wasn't happy about this ...
Reply 195
Jelkin
EDIT: By the way, there is a "Graduate Career" supplement in The Times today and it has an article about how graduates should go for less sought-after careers - with the example, "Accountancy is saturated with applications, but actuaries are much less sought after." I wasn't happy about this ...


The Times advising all prospective accountancy applicants to try for actuarial schemes doesn't bode well for us at all!
Reply 196
.ACS.
The Times advising all prospective accountancy applicants to try for actuarial schemes doesn't bode well for us at all!


I know :emo:

Hopefully many of these applicants will go for it assuming it's similar to accounting and without doing much research :awesome:

... :frown:
Jelkin
Yep, I've been studying, and it's been going pretty well overall. I managed to get into an email correspondence with a guy from LCP and he was quite positive, which was nice. I'm going to apply there today and also to EMB, I think.


I've been to the office in Epsom, and they seem like swell people. They have an awesome northern doorman :daydreaming:

They run lots of training courses for people working in general insurance (I believe they specialise in GI), and also run courses for all the various software they produce such as Emblem (used by pricing teams to price test when you have interactions between rating factors) and ResQ (used by reserving teams to, err, reserve). I think they also sell other software packages such as Igloo, but I don't know what they do TO BE HONEST.

I'm ******. I still haven't finished reading CT2 :o:


Also, actuaries > accountants. If accountants have to do the stuff in CT2 as their job, and I had to sit the ACA exams or something, I think I'd slit my throat :p:
Reply 198
Jelkin
I know :emo:

Hopefully many of these applicants will go for it assuming it's similar to accounting and without doing much research :awesome:

... :frown:


As do i, one of the reasons acturies are paid so highly is because there are not that many and i also do not want to spend years at university to have 1000 other people going for the same position.
Reply 199
JohnnySPal
I've been to the office in Epsom, and they seem like swell people. They have an awesome northern doorman :daydreaming:

They run lots of training courses for people working in general insurance (I believe they specialise in GI), and also run courses for all the various software they produce such as Emblem (used by pricing teams to price test when you have interactions between rating factors) and ResQ (used by reserving teams to, err, reserve). I think they also sell other software packages such as Igloo, but I don't know what they do TO BE HONEST.

I'm ******. I still haven't finished reading CT2 :o:

Also, actuaries > accountants. If accountants have to do the stuff in CT2 as their job, and I had to sit the ACA exams or something, I think I'd slit my throat :p:


Yeah, people say that actuaries are the only people more boring than accountants, but actuaries do far more exciting maths :p:

The EMB website waxes lyrical about their unique software, which makes me wish I had "proof" that I'm all right with computers. Actually, it seems like quite an ace company to work for - I got really into it when I was reading up the stuff on their website. Looks good.

Who do you work for, by the by? I have researched something like 87 actuarial employers in the UK (I have a colour-coded list!), so chances are that I've come across it.

Speaking of my excellent colour-coded list, I realised today that I pretty much have to cross off Aon because even though they do hire non-maths grads, they do not do so in the actuarial fields. :frown: The scheme that I could apply for does sound pretty interesting, actually - it is something like "Insurance, Reinsurance and Risk Management" - but I'd have to write a whole new application and all that and I'm SO TIRED of applications. I spent almost the whole of today on EMB and LCP.

Rakas21
As do i, one of the reasons acturies are paid so highly is because there are not that many and i also do not want to spend years at university to have 1000 other people going for the same position.


I just feel that I'm already not in the strongest position when applying for these jobs, so all I need is for tons of other people to join the fray!

Stupid arts degree.

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