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

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Reply 60
JohnnySPal
Out of interest, what class are you on for? Certainly doing a masters will help, but if you're on for less than 2i I would seriously think twice given how much competition there is for jobs atm. Ideally you'd be on for a first given the subject you're doing...


I graduated in the summer with a 2:1 and am now studying for an MA at Lund University in Sweden. I probably should have got a first but I was always doing extra-currics! ... one of which was being the JCR treasurer at my college. This isn't related to actuarial stuff at all, really, but do you think it will show I at least have an interest in more task-based roles/finance?
Reply 61
An actuarial position without something even remotely mathematically related?

Even a typical degree in accounting and business studies with some maths wouldn't suffice.

You're looking at mathematics, economics (with high mathematical content), engineering, science and actuarial science graduates who become actuaries.

EDIT: On second thought, it turns out that a non-mathematical degree is possible, providing that you can prove you hold high quantitative skills e.g. to at least A-level standard.

The above list of subjects greatly increase your chances.
RBarack
An actuarial position without something even remotely mathematically related?

Even a typical degree in accounting and business studies with some maths wouldn't suffice.

You're looking at mathematics, economics (with high mathematical content), engineering, science and actuarial science graduates who become actuaries.

EDIT: On second thought, it turns out that a non-mathematical degree is possible, providing that you can prove you hold high quantitative skills e.g. to at least A-level standard.

The above list of subjects greatly increase your chances.


At the end of the day it's all about how much you impress potential employers with CVs (once you're at an interview you can justify ad nauseum why you're suitable for the job despite your unorthodox qualifications), and I'm sure employers would take note of someone who has dragged themselves up to the appropriate standard.

To me, sitting an Actuarial Science masters course after you graduate would still be the ideal route though, like I've said many-a time in here already. I think it's Leicester who do a one year course which will give you a heap of exemptions on the way.
Reply 63
RBarack
An actuarial position without something even remotely mathematically related?

Even a typical degree in accounting and business studies with some maths wouldn't suffice.

You're looking at mathematics, economics (with high mathematical content), engineering, science and actuarial science graduates who become actuaries.

EDIT: On second thought, it turns out that a non-mathematical degree is possible, providing that you can prove you hold high quantitative skills e.g. to at least A-level standard.

The above list of subjects greatly increase your chances.


Did you read the thread at all before you posted that? :confused:
JohnnySPal
I think it's Leicester who do a one year course which will give you a heap of exemptions on the way.


I think Kent do a one year course too if I remember correctly...
Reply 65
JohnnySPal
At the end of the day it's all about how much you impress potential employers with CVs (once you're at an interview you can justify ad nauseum why you're suitable for the job despite your unorthodox qualifications), and I'm sure employers would take note of someone who has dragged themselves up to the appropriate standard.

To me, sitting an Actuarial Science masters course after you graduate would still be the ideal route though, like I've said many-a time in here already. I think it's Leicester who do a one year course which will give you a heap of exemptions on the way.


I can't find this Leicester masters in Actuarial science. Not having a dig at you, i'm actually curious. Would they accept engineering graduates for actuarial masters courses?
RBarack
I can't find this Leicester masters in Actuarial science. Not having a dig at you, i'm actually curious. Would they accept engineering graduates for actuarial masters courses?


Why would I think you're having a dig at me? :eyebrow:

http://www.actuaries.org.uk/students/tuition/universities/leicester
http://www2.le.ac.uk/departments/mathematics/postgraduate-study/msc/actuarial
(Apparently a distance learning course. I did not know this until now)

{full list of unis that run accredited courses: http://www.actuaries.org.uk/students/tuition/courses)
Reply 67
JohnnySPal
Why would I think you're having a dig at me? :eyebrow:

http://www.actuaries.org.uk/students/tuition/universities/leicester
http://www2.le.ac.uk/departments/mathematics/postgraduate-study/msc/actuarial
(Apparently a distance learning course. I did not know this until now)

{full list of unis that run accredited courses: http://www.actuaries.org.uk/students/tuition/courses)


Brilliant cheers.
Reply 68
I couldn't be bothered to read past the first half of the first page, but I've just been offered an internship at PwC with a totally unrelated degree. The partner interviewing me said he was more bothered about me having the right personal skills, because it's easy to teach someone for a professional qualification but harder to take on someone who knows the theories but has no team building/client skills at all.
Reply 69
*soph*
I couldn't be bothered to read past the first half of the first page, but I've just been offered an internship at PwC with a totally unrelated degree. The partner interviewing me said he was more bothered about me having the right personal skills, because it's easy to teach someone for a professional qualification but harder to take on someone who knows the theories but has no team building/client skills at all.


:zomg: Really! Which office did you apply to? And it's for actuarial stuff? The reason I'm so shocked is because when I asked a PwC guy at a careers event he said I would really struggle. Did you have any extra-currics that would make you more appealing for an actuarial role?

I was going to apply to PwC for consulting but maybe it would be worth going for gold as I'm actually more interested in the actuarial profession. But I guess I'd better quiz you about what you were like as a potential candidate first ...

EDIT: Not that a job in consulting isn't gold, of course ... maybe consulting is gold, but a job in the actuarial field would be platinum. To me, that is.
Reply 70
Jelkin
:zomg: Really! Which office did you apply to? And it's for actuarial stuff? The reason I'm so shocked is because when I asked a PwC guy at a careers event he said I would really struggle. Did you have any extra-currics that would make you more appealing for an actuarial role?

Check your PMs :smile:
*soph*
I couldn't be bothered to read past the first half of the first page, but I've just been offered an internship at PwC with a totally unrelated degree. The partner interviewing me said he was more bothered about me having the right personal skills, because it's easy to teach someone for a professional qualification but harder to take on someone who knows the theories but has no team building/client skills at all.


lol, have you seen some of the pass rates for the actuarial exams? I take it you are still talking about Actuaries..
Reply 72
Flying Scotsman
lol, have you seen some of the pass rates for the actuarial exams? I take it you are still talking about Actuaries..

I haven't the foggiest what the pass rates are, just passing on what the partner said to me. But surely you could argue that any theoretical knowledge is easier to teach somebody than personal skills which may or may not always elude them?
*soph*
I haven't the foggiest what the pass rates are, just passing on what the partner said to me. But surely you could argue that any theoretical knowledge is easier to teach somebody than personal skills which may or may not always elude them?


I would say it's the other way round personally. It's always possible to increase social skills with greater exposure to more challenging social situations, but with something mathematical you either have it or you don't in my experience.
Flying Scotsman
I would say it's the other way round personally. It's always possible to increase social skills with greater exposure to more challenging social situations, but with something mathematical you either have it or you don't in my experience.


This.

Pass rates for actuarial exams are stupidly low. Some of the easiest CTs have a respectable 60-70% or something, but you can go as low as 30% if not lower for the more advanced courses...
Reply 75
Guess I was lucky that the partner didn't seem to care that I haven't done maths post A level, then!
Reply 76
JohnnySPal
*Actuarial Expertise*


Hello once again!

I'm applying for a summer internship with Punter Southall and I just have a few shortish questions that I was hoping you might be able to help me with :o:

1.) Should I mention that I'm planning to take CT1 over the summer? It suggests keenness, but since the internship is over the summer they might think that trying to study and work at the same time will be too much or whatever.

2.) When it comes to explaining why you picked the firm or what attracted you to it, how detailed do you have to be? I asked my friend who is applying to law stuff and he said that he reads some law magazine and he writes something that he read about them in it that caught his eye, or he mentions awards they have won. I just think it might seem a bit fake to go, "I want to work with you because you won some awards." Although Punter Southall has done so.

Thanks in advance if you can help :smile:
Jelkin
Hello once again!

I'm applying for a summer internship with Punter Southall and I just have a few shortish questions that I was hoping you might be able to help me with :o:

1.) Should I mention that I'm planning to take CT1 over the summer? It suggests keenness, but since the internship is over the summer they might think that trying to study and work at the same time will be too much or whatever.

2.) When it comes to explaining why you picked the firm or what attracted you to it, how detailed do you have to be? I asked my friend who is applying to law stuff and he said that he reads some law magazine and he writes something that he read about them in it that caught his eye, or he mentions awards they have won. I just think it might seem a bit fake to go, "I want to work with you because you won some awards." Although Punter Southall has done so.

Thanks in advance if you can help :smile:


If you end up in an actuarial role you'll probably have to maintain the work/study balance anyway, so presumably they won't think it's too much. If they do query you on it for some reason I'd just tell them precisely that. Seeing as though CT1 is Financial Mathematics you could also start going on about how the material is relevant and would help your development over the internship (the syllabus is easily available on the Institute's website if you want to pick out specific examples).

Google tells me PS is a pensions consultancy, so it's quite different to the job I'm in - not sure how much I can help really! Know things such as the services they offer (and perhaps name larger clients), who are their competitors (and why PS kick the shizzle out of them), what their core values are (a bad example: Tesco is Every Little Helps so they pride themselves on going the extra mile), and try to quote recent stories you've read about them (preferably good) to show you know current issues they're facing.

Google also threw up a few numbers you can quote (about half way down the page): http://www.insidecareers.co.uk/__802574d8004f01d1.nsf/id/7jbesetden!opendocumen


EDIT: Send me a PM. I can help out in other, sexier ways as well :wink:
Reply 78
JohnnySPal
Actuary stuff :bhangra:


Hello again! I feel I am always running to you with questions - I hope it doesn't get too tiring.

I am applying to LCP for their summer internship, which seems a bit over-ambitious but I figured it would be worth a try. On their website it says:

We currently offer summer internships in the following business areas:
Pensions Actuarial Consulting
Investment Consulting
Insurance Consulting

However, we are keen for you to make the most of your internship so if you are interested in working in our other departments too, we will do our best to give you the opportunity to work on projects in those departments.

Pensions
- our pensions team advises companies and trustees on designing pension schemes, valuing and managing accumulated pension commitments, the impact of new legislation, and the pensions implications of mergers and acquisitions.

Investment
- our investment team helps companies and trustees to manage risk and decide on the best way to manage and invest the assets of their pension funds.

Other main business areas you may wish to get a ‘flavour’ of during your internship are:

General Insurance
- involves giving advice to insurance companies on reserving and financial risk management.

Financial Dynamics
- offers a new dimension in risk appraisal, business modelling and company valuations. For example, valuing points from loyalty schemes and share options, or estimating the size of reserves required today to cover a client's nuclear decommissioning costs.


Now, I have to choose between Pensions, Investment and Insurance Consulting, or I can say "No preference". Would putting the latter make it seem as though I was lazy and hadn't done any research? The truth is, I think Investment sounds the most interesting and exciting, but because I have never actually worked in actuarial stuff before I don't really fancy making these decisions too early. Also, I'm not sure how I'd explain exactly why Investment appeals to me the most ...

Also, they have an office in Winchester and another in London, but I'd apply to the Winchester one because my family home is in Dorset and then I could stay at home. They ask why you've chosen the particular location - should I try to make my reasoning slightly more impressive?

Finally, given I am able to read The Actuarial (I can access past copies too!), should I mention it anywhere?

Thanks so much again. I wish I could offer more compensation than just rep :p:
Jelkin
Hello again! I feel I am always running to you with questions - I hope it doesn't get too tiring.

I am applying to LCP for their summer internship, which seems a bit over-ambitious but I figured it would be worth a try. On their website it says:


Excellent choice, they look amazing. I applied to them but didn't get an invite to the assessment centre for reasons I shall never know. Thatw as the one time I was really rather gutted for more than two minutes after receiving the rejection.

I like to think it was because I only managed to apply really very late in the day (hasn't their deadline passed already for September 2010 intake?), but in reality they probably simply thought I was **** :p:


Now, I have to choose between Pensions, Investment and Insurance Consulting, or I can say "No preference". Would putting the latter make it seem as though I was lazy and hadn't done any research? The truth is, I think Investment sounds the most interesting and exciting, but because I have never actually worked in actuarial stuff before I don't really fancy making these decisions too early. Also, I'm not sure how I'd explain exactlywhy Investment appeals to me the most ...


Dude they wouldn't throw you into that kind of decision-making straight away. You'd probably initially shadow someone more senior, and you'd be getting smaller bits of work to complete from the outputs of various meetings you attend with clients (assuming it's that kind of consulting, anyways).

You seem to have roughly the right idea in your head, just brainstorm a bit as to the difference between consultancy and non-consultancy.

With consulting you'll need to be more fluid and dynamic and you'll be able to work on many diverse pieces of work that will demand completely things of you from one day to the next. With that though comes the added stress (perhaps with the expectation to do the extra hours required if a deadline is looming).

In P/L you're more likely to have an office job and as such be part of the office culture, which will give you more of a routine and will arguably have (slightly) fewer pressures, but will allow you to use more of the technical skills that you'll pick up from your studies. Also means you'll not be customer facing (except perhaps internal customers such as other departments).

I'm fairly sure the website will give details of the differences. I seem to recall them pointing you to a specific part of their website for that question.

Also, they have an office in Winchester and another in London, but I'd apply to the Winchester one because my family home is in Dorset and then I could stay at home. They ask why you've chosen the particular location - should I try to make my reasoning slightly more impressive?


I dunno. I remember wondering this when I was filling in my app, and dint' come to any reasonable conclusion. So I was just honest. I don't think it's the most important question, but I could be wrong.

Finally, given I am able to read The Actuarial (I can access past copies too!), should I mention it anywhere?

Thanks so much again. I wish I could offer more compensation than just rep :p:


Definitely! Why not? Hell, they'll probably assume you're paying the subscription fee and look favourably on it :p:

I'd perhaps pick out an article or two that interests you and be ready to briefly talk about it though, just in case they either ask a general question about the profession or directly ask you about what you've been reading in the magazine.

BTW it's The Actuary. Make sure you get the name right!


To be fair, I'm pleased to be able to help someone on here who's clearly done their research and has genuine motivation. My given rep at the moment seems to be a string of negs to people who exclaim "I wanna become actuary help" and clearly know ****-all about the profession. For starters you seem to be one of a very few who can use the words actuary and actuarial correctly in a sentence! I'm kind expecing a couple of negs for saying this, but myeh I'll live :p:

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