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Actuarial grad schemes 2016

orange crush

Thought I'd create a separate thread from that music one.

I see Deloitte opens up on July 1st :smile:

Anyone else going down this route?

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Reply 1

ninegrandstudent

I have already applied to Deloitte for 2016 (fast track), it was a favourite firm of mine back when I considered School Leaver Accountancy so would like to see my application go further!

Where else are you looking at? Are you preferring consultancy to pure insurance work? Life/pensions or general?

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Reply 2

bijesh12

I'm on the BW grad scheme first year .. If y'all got any questions. I work in pensions which is boring 😴

Reply 3

orange crush

Original post by ninegrandstudent

Consultancy and/or pensions, for me. Looking at pretty much everything though.

My attitude to applying for jobs is that the more faeces I throw at the wall, the better chance I have that some of it will stick.

Reply 4

orange crush

Original post by bijesh12

I'm on the BW grad scheme first year .. If y'all got any questions. I work in pensions which is boring 😴

What's a typical day like?

Also, if you don't mind saying, what's the average salary and what companies pay well?

Reply 5

ninegrandstudent

Original post by orange crush

Fair enough. I am currently on placement (commercial insurance) and really enjoy it. Definitely would be limiting myself if I just applied for similar roles though!

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Reply 6

orange crush

Original post by ninegrandstudent

Fair enough. I am currently on placement (commercial insurance) and really enjoy it. Definitely would be limiting myself if I just applied for similar roles though!

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I didn't manage to get a placement this year. I did have a couple of phone interviews and an assessment centre, though.

Reply 7

bijesh12

Original post by orange crush

What's a typical day like?

Also, if you don't mind saying, what's the average salary and what companies pay well?

A typical day is hard to describe..work can be quite varied to be honest. You could be in a meeting for a few hours, doing calculations to check with models, carrying out pension scheme valuation work (bulk of the work), just answering general client queries, studying, attending training seminars. (There's a lot to learn in the world of pensions and it keeps changing with budgets and legislation ...)

I can't say for other companies cause i didn't have to go down that route.. i got offered a place at Bw which was the first i applied to. Let's just say the salary is well what you would expect for a trainee actuary anything in the range of £25k - £35k.. depending on where you are in the UK, how much exemptions you have possibly.. i had none.

You do get annual reviews and based upon them a discretionary salary increase, also with each exam pass you get a rise.

Reply 8

kajka

Original post by ninegrandstudent

Hi, can I ask why Deloitte? I'm curious what they are like. I did a spring programme with KPMG and will be doing a summer internship with EY in a couple of weeks' time, but never really had any experience with Deloitte.

Also considering Standard Life for the graduate scheme, Tower Watson possibly...

Reply 9

orange crush

Original post by kajka

Limiting yourself a bit there, nah?

Had an assessment centre for an internship with Towers, the two separate interviews were quite clearly the most organised game of good cop bad cop. One of the interviewers was chatting away to me like an old friend, whilst the other had the audacity to criticise my current part time job

Reply 10

TheIrrational

As with one of the people above, I'm becoming an actuarial trainee with Mercer this September, so if anyone has questions I'm happy to answer. I did an internship with them so can answer any work related question or interview related questions.

As someone asked above regarding salary and quite often it's something people want to know but are scared to ask, it's £28,500 with no exemptions, £500 extra per CT exemption, and considerably more for CA/ST/SA exemptions (I don't think it's in my contract to say I can't give away this information).

Reply 11

orange crush

Original post by TheIrrational

That would have me earning over 30 grand to start with. Anyone know how this compared to other companies in this field?

Reply 12

TheIrrational

Original post by orange crush

That would have me earning over 30 grand to start with. Anyone know how this compared to other companies in this field?

I should add that I work in a regional office and you're paid more in London, I'm not sure how much however.

Towers Watson is 29k in regional in £31,500 in London I believe (don't quote me) and Punter Southall in 30k in Guildford, but not sure about other offices.

Reply 13

Northyyy

Hey guys,

Sorry to poach the thread like this but i'm looking at the MSc in Actuarial Finance at Leeds University in September this year. I studied Finance and Investment Management at UG level at Northumbria Uni. As far as qualifications go before you get into this line of work what have you done at UG level/Masters level/external exams etc?

Reply 14

EdiAnl

Original post by bijesh12

I'm on the BW grad scheme first year .. If y'all got any questions. I work in pensions which is boring 😴

Hi there! Just looking for a bit of advice. A LOT of people mention internships but I have only recently thought about going into actuary, previously I was interested in the government stats grad scheme. I've got a first in maths from Birbeck but all my work experience has been in retail. Also I'm a young looking 40 year old woman, I'm wondering if I have a hope in hell. Also my old A levels are now only worth 300 UCAS points. Any views?!

Reply 15

TheIrrational

Original post by Northyyy

Hey! Before getting into this all I had done is a Bsc in maths at Warwick University. I believe that Msc gives an incredible amount of exemptions doesn't it?

Original post by EdiAnl

Hey! My girlfriend is also becoming an Actuary as of this September, but with Towers Watson. She had an induction day in April for all the new graduates and there was someone there who matched you description, so it's not too late to become an Actuary. If you want more information on your options I would highly recommend contacting the recruitment teams of companies - they're usually very helpful and often you can find their numbers online.

Reply 16

EdiAnl

Original post by TheIrrational

Hey! Before getting into this all I had done is a Bsc in maths at Warwick University. I believe that Msc gives an incredible amount of exemptions doesn't it?

Hey! My girlfriend is also becoming an Actuary as of this September, but with Towers Watson. She had an induction day in April for all the new graduates and there was someone there who matched you description, so it's not too late to become an Actuary. If you want more information on your options I would highly recommend contacting the recruitment teams of companies - they're usually very helpful and often you can find their numbers online.

Thanks for the advice, I'll definitely do that. In the old days anyone with a first in maths just strolled in to a lot of jobs :tongue:

. Sadly its not the case any more :frown:

but I'll have ago ....

Reply 17

bijesh12

Original post by EdiAnl

Hey.. I would say there's a definetly a chance if you try. As you've been out of the maths for a long time i would suggest sitting CT1 (first exam) to show some kind of intent. With all honesty I think it's not all about your degree / academics that's just a part of the requirement. I think it's how you simply present yourself then and there at the interview / assessment centre. I know this sounds vague but can't stress how much it's more important than having a maths degree or whatever. If you can show the softer skills along with the fact you've got a maths degree / done ct1 also improve your excel skills you're going to be using that all day literally. Just shout if you have any other questions !!
Good luck

Reply 18

TheIrrational

Original post by EdiAnl

Thanks for the advice, I'll definitely do that. In the old days anyone with a first in maths just strolled in to a lot of jobs :tongue:

. Sadly its not the case any more :frown:

but I'll have ago ....

When did you get your degree?

Tell me about it! I know people graduating with a first in maths from Warwick who are struggling to get jobs and have no where to go now, and it wasn't easy for me! Many many many hours were spent on applications and test and phone interviews!

Good luck! It's just putting the time into the applications, if you want any specific application advice I'm happy to give some, I have applied to most actuarial firms had about 10-12 phone interviews and got 4-6 assessment centres but only went to 1 in the end as I was offered my first one.

Reply 19

EdiAnl

Wow. That's a lot of applications. I did my degree part-time whilst carrying a full-time job in retail which was pretty tough. It's from Birkbeck College which does evening lectures. It's University of London which isn't too bad (decent compared to other Universities that just happen to be in London) but not in the same class as Warwick. Shocked you know lots of people with Firsts from Warwick that are struggling a bit to find work! I suppose determination comes into it. I'd rather the challenge tho than the dead end world of retail tho