Could I become an actuary?

Scroll to see replies

Reply 20

MaxMaxMax

Which is better, ICT or Computing A Level?

Reply 21

Singh_87

Which is better, ICT or Computing A Level?

Computing. By a mile.

what so kent actuarial science is highly regarded by city is a better uni in general?
thanks for your reply on FM btw lol

No, he was referring to Maths & Finance (I think). Actuarial Science at Cass is a very good course, taught by professionals who have worked in the industry. LSE has a more academic slant to it's course. If you want to be an Actuary, I'd personally go for Cass's course. This opinion was backed by many at PwC Actuarial department, alongside many others I have spoken to, however both courses put you in excellent stead to get an actuarial position.

I know LSE is out of the question even with AAA because they love GCSE grades, right? so what about city? Kent might be realistic though.

Cass's course was (the couple of years I checked) in clearing, and they reduce their grade boundaries. Offers at Cass are almost always still made AAA though. Still aim for Cass over Kent.

D

oes anyone know the long term prospects of someone who has done an ACA against someone who has passed the actuary exams? Is it possible to get into managment/director level from both qualifications, say for a random company?

ACA is a very popular route for many people to become directors (FD, MD, CEO) of companies, including many FTSE-100 companies. Actuarial qualifications is not so popular, but I don't see a reason why it would be a hindrance. ACA is much more useful though, and as the exams are easier, I would advise this route if you wish to enter senior management at firms.

Reply 22

fblade

Plus Computing is much more interesting.

Reply 23

Tallon

Student_Blue

City has some basic GCSE Math and English requirements which you can easily satisfy- i think it was a B/C. You can put city as the firm choice and kent and city-maths+finance as insurance choices when it comes to Uni applications. Why not take three subjects if your so worried about not making the AAA?

I imagine the workload is quite a lot. Well, technically i'm doing 4 if you include general studies but... just no lol..
I bet though if I could get A in FM an A in maths is almost a given. And classical civ I actually enjoy for pleasure so fingers crossed.

If I get something aveage like BBB or totally emss up FM, do I sitll have a chance?

Reply 24

Mos Def

Tallon

Well i doubt you'll get into Cass and LSE with BBB, when they want AAA. Maybe you have hope for the other unis...

Reply 25

Tallon

Mos Def

Well i doubt you'll get into Cass and LSE with BBB, when they want AAA. Maybe you have hope for the other unis...

yeah, but I mean if you get average A levels like BBB or don't even do FM is a job like an actuary even possible?

Reply 26

Student_Blue

Tallon

yeah, but I mean if you get average A levels like BBB or don't even do FM is a job like an actuary even possible?

FM is not hugely important for an actuarial profession, however taking it will confirm your competence in maths which is essential. If you are predicting BBB before even starting A-levels then yes actuary may not be your thing.

Reply 27

vertical limit

Hey! I've been thinking about Actury for a long while now.

I'm off to Oxford next year to read Chemistry. Is this degree okay, or should I have chosen a more mathematical course?

Thanks for ur help!

Reply 28

Tallon

nah just used BBB because it's an average type of set of grades.

Reply 29

Singh_87

vertical limit

A more quantitative course would have been of more benefit to yourself, when it comes to the exams. Maths, Physics, Actuarial Science, Economics and Computer Science degrees are the most popular courses for people wanting to pursue a career as an Actuary. However, having said this, you should be able to get yourself an interview, where it will depend on alot more other than just degree course if you get a position or not.

Reply 30

Jelkin

I do English Literature at Durham but I'm thinking about having a go at being an actuary. I got an A in A level maths (94%). Does anyone know how much they tend to favour candidates with mathsy degrees?

Reply 31

Student_Blue

Professional services firms tend to look favorably upon mathsy grads when searching for trainee actuaries. I remember someone on TSR mentioning how his fathers firm regularly take in maths grads for actuary.

Reply 32

Jelkin

Student_Blue

Do they always favour them over non-mathsy grads? I'm trying to be realistic about my chances with a high A at level but an English degree. (Having said that, I've read in a few places that words are as important as numbers for actuaries ... )

Reply 33

Student_Blue

I wont say it is impossible for you to enter but they will almost always favour the mathsy grads, this is because the exams required to qualify as an actuary require enormous competence in math.

Less qualified actuaries will mostly be doing the number crunching however more client contact is seen in senior actuary roles.

Realistically going straight into actuary with an English degree is not recommended unless you consider doing a mathsy degree too. If not then at best you may get in and spend 6/7 years to qualify at a slower pace (avrg for trainee-->qualified is four years). :redface:

Reply 34

Jelkin

Student_Blue

Thanks. I don't really mind taking a while to qualify, I just worry that I won't get the opportunity to do it since I haven't taken a maths degree!

Reply 35

England Captain

Jelkin

Thanks. I don't really mind taking a while to qualify, I just worry that I won't get the opportunity to do it since I haven't taken a maths degree!

Speaking realistically here, i would say you don't have that much of a chance. Even if you do get in, without a quantitative degree i think you might struggle. But i guess your high A level maths result might come to your advantage there.

here is the syllabus for the exams:
http://www.actuaries.org.uk/students/syllabus/syllabus_2009

I saw somewhere that the percentage of people that pass the exams was only about 30%, and most of them would be from maths/stats/economics/physical sciences backgrounds.

Reply 36

Jelkin

England Captain

Thanks a lot for the info, I really appreciate it. Do you think people pass the exams because of the knowledge they have gained from their degrees, or because they have an aptitude with numbers? I'm quite natural with maths but obviously I won't have the same level of knowledge as someone holding a maths-related degree.

Reply 37

Student_Blue

Jelkin

You have a point. To be honest Jelkin your situation once inside a firm is similar to that of a physics grad, as most of the stuff learnt in your degree is irrelevant to the actuarial exams. The only difference is the other grad has demonstrated a forte in quantitative skills (which you have too to an extent ). Iv checked out your page including the impressive academics :p:

and I think it is definitely worth a shot! :yep:

Reply 38

NW8_SW1_EC3

The question is, are you sure you want to be an Actuary?

Reply 39

England Captain

Jelkin

Probably an aptitude with mathematical concepts. The knowledge from a maths degree wouldn't help that much at all i suppose. Unless you did a MORSE degree, which pretty much covers everything on the early syllabus. I guess most maths grads don't really know anything about finance and economics or to some extent statistics when they graduate, so its definitely aptitude and not prior knowledge which helps people to pass.