Actuarial Science chat

Congrats on the place. Yes it's a fantastic degree, some modules are similar to the financial maths degree so you still have some options if you decide you don't want to be an actuary.

Hey guys. I graduated from mathematics BSc at Nottingham a year ago, went on todo a PGCE and decided against teaching after discovering actuarial science. I have a job starting as a trainee actuary in August. If you have any questions I'd also be happy to answer them

Hey everyone

I'm a student starting actuarial science at the University of Kent this September. Hope to hear from some fellow actuaries going there or anywhere, for that matter

Hey everyone

I'm a student starting actuarial science at the University of Kent this September. Hope to hear from some fellow actuaries going there or anywhere, for that matter

I'm starting Actuarial Science at Kent in September, nice to hear from another student

I'll be studying actuarial science too!

Posted from TSR Mobile

I think there's a clear clique forming here...

I think there's a clear clique forming here...

Hey guys. I graduated from mathematics BSc at Nottingham a year ago, went on todo a PGCE and decided against teaching after discovering actuarial science. I have a job starting as a trainee actuary in August. If you have any questions I'd also be happy to answer them

Thanks for the heads up!
Are there any more reputable firms?

Hey.
I wanted to know what kinds of part-time jobs can I take to further my career prospects? I want to become an actuary

Posted from TSR Mobile

Hi, I'm about to start a physics degree (Edinburgh) and am looking at actuarial work as a potential career option. I'd like to ask a bit about your experience of the process of securing a trainee position. Did you get an internship in the firm you'll be working with, and is this the most common route in? Do you have a sense of how competitive these schemes are?

Thanks

How old are you, and are you at university? It's hard to say really, but any job that is customer related and requires you to work in a team is fine. One thing that might help would be a job where you can show innovation and creativity more, so working in tescos might not prove that useful if you're doing the same duties for three years.

A lot of what they want to know is not that you are a master at the actuarial field at the age of 21, but that you are able to research the field and get a good grounding off your own back.

Say if you finish your actuarial science degree and then say if you change you mind about being an actuary, would it still be possible to get into other finance jobs using the degree? Is the degree kinda flexible in that sense? Or is a Maths degree better for this in keeping open options and having flexibility for jobs?

Thanks

Are you like a fully qualified actuary then? I'm guessing you are. I wanted to ask how are the exams into the profession, like the CT exams etc? Are they really hard and a nightmare? How long did it take you to finish all of them? Also regarding the above quote ^, do you mean that they are very interested in you having a good understanding of the career and what you do in it etc and like you take initiative to organise work experience? Say if you finish your actuarial science degree and then say if you change you mind about being an actuary, would it still be possible to get into other finance jobs using the degree? Is the degree kinda flexible in that sense? Or is a Maths degree better for this in keeping open options and having flexibility for jobs?

Thanks

Hey! I'm not a qualified actuary at all! I actually start on Monday, so I can't really answer many of your questions with experience however I have done a ton of reading so I can give you some advice. There's 15 examinations in total, and on average it can take anywhere from 3-7 years to fully qualify. For those working with the larger companies, they tend to push you to take exams more quickly whereas the GAD (Government Actuarial Department) says it can take up to 6 or 7 years.

Are they difficult? Yeah of course, but how hard you find them will depend on two main factors. Firstly, are you a natural and able mathematician? and secondly, are you generally an independent learner or are you used to being spoonfed information?

With my quote above, I mean that they are testing to see how proactive you are. When everyone looks good on paper, they want to find that person who takes it one step further and does their homework and research so they can show that off in the interview. Then the companies can identify that you have that initiative and aren't just a smart person who sits back on their brains and does nothing with it.

An Actuarial Science degree is definitely great if you want to become an actuary simply because it will mean getting qualified sooner - I'm definitely jealous of the others at my company that I met on induction, since they have around 7 exemptions! That said, the downside is that if you aren't able to secure a grad scheme or change your mind on your career, your prospects are reduced. How much are they reduced by? That's a subjective question, but some careers will want a much more well rounded knowledge and so will appreciate a traditional mathematics degree, while others will supply you with the training you need and will just care that you've worked your way through a Bachelor's. The fact that people can go into Audit or Tax with History degrees reinforces this point, however you wouldn't see anyone in the big investment banks with an "irrelevant" degree.