Andy Lau
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#21
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#21
(Original post by eimmas)
Just to comment on you saying you "might do work experience during the holidays" - please, don't just focus all your effort on sitting some CT exams and shunning experience. Experience is way more valuable in getting any job, not just in the competitive world of actuarial recruitment, and can really help you stand out from other candidates. You'll get a lot more out of practical work experience which lets you understand any studying you do in context, than you will out of trying to fly through CT exams.

As for the cost of study materials, that really is just something you're going to have to bear the brunt of if you want to sit any CT exams. You'll also have to pay for student membership of the IFoA if you want to sit anything other than CT1. There's also the cost of entering the exams to factor in.

The resources are purchased from ActEd, who provide all the official material for each module, which clearly contains all the content required for the exams and other materials can be purchased depending on your preferences for type of study. You pay money because they offer a fairly comprehensive package of resources. You could probably scrape by on CT1 and CT2 if you make sure you're aware of everything in the syllabus and manage to locate appropriate learning materials elsewhere, but that's a fairly risky strategy (and, as we all know, actuarial work involves trying to mitigate risks...).

The CT exams do escalate in complexity quite a bit for some modules and, personally, I wouldn't have felt comfortable will the level of mathematics required in some modules with just an A level standard of education.

Given the amount of time that can go into a degree education and the fact that university is also about time spent doing other things than just studying, I think you're being incredibly optimistic to think you'll be able to juggle both a degree course and studying for CT exams simultaneously as well as enjoying any kind of social life/downtime. Honestly, please don't think that just powering through a load of exams is going to be more beneficial than getting other experiences out of university (such as being a course rep or being on an executive committee for a society) and work experience.
Thanks a lot for clarification.
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confused1996
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#22
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#22
How difficult is it to move around divisions? For example, if you started off in a pension consultancy but wanted to move into a general insurance role?
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artful_lounger
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#23
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#23
When did you make the decision to become a ghoul? Was it difficult giving up your mortal coil to measure others'? Is it true you can see all of time simultaneously???

Seriously though this is quite a good thread because it's a bit of an arcane profession from the outside otherwise

I have nothing to actually add to this
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Betsyboo
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#24
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#24
What was your degree in? and did you consider/apply for anything other than actuarial work?


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Betsyboo
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#25
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#25
For anybody applying for an actuarial grad job now, which area of actuarial work would you recommend both in terms of the type of work and long term prospects; pensions or insurance. Thanks


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Mr_Muffin_Man
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#26
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#26
I wouldn't recommend going in to pensions. Life insurance is pretty stable and general insurance/consultancy is generally where you'd make the most money. It depends on the kind of work you find interesting.
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Betsyboo
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#27
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#27
Thanks for your reply. Can I ask why you say you wouldn't recommend going into pensions? ( I have been offered a 2018 actuarial grad job in pensions)


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Mr_Muffin_Man
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#28
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#28
(Original post by Betsyboo)
Thanks for your reply. Can I ask why you say you wouldn't recommend going into pensions? ( I have been offered a 2018 actuarial grad job in pensions)


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If you've been offered a grad job in pensions I'd take it just so you get your foot in the door. Once you've had a year or two experience I would consider looking to change in to life or general. You'll get the experience of working in pensions but until you take your later exams it's a little easier to move about from different fields.

The reason I wouldn't recommend pensions is because defined benefit (DB) schemes, that need actuaries, are on their way out and are closed to new entrants. The only schemes of these that are in force won't be around forever and eventually the demand for actuaries in the pension field will decrease as DB's are being replaced by defined contribution (DC) schemes that don't need actuaries.
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s.shafiq
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#29
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#29
why do some employers prefer pure maths backgrounds?
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Betsyboo
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#30
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#30
Hello
Any thoughts/insight on which company would be better to work for; Barnett Waddingham or Willis Towers Watson. Thanks.
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CloutMaster
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#31
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#31
I've wanted to know for some time now, how does passing an actuarial exam (eg. CT5) affect one's salary. Does a specialist exam have more of an impact as opposed to a core exam. Also when all test are passed, and you become a fellow actuary, how does that affect your salary. It would be great if you answered.
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161BMW
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#32
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#32
Is The Actuarial Profession interesting ?
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DonnieCA
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#33
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#33
I'm not sure if you still use the student room as I know your last post is a bit old.
I would love some advice for my boyfriend. He has worked hard and passed all his actuarial exams first time around. However he will be sitting CP3 (the old CA3) for the third time this April. This is his last exam! The last time he sat the exam he missed out by 5 marks.

He has been diligent by doing every past paper and getting his mocks professionally marked in the run up to the exam. However he just can't seem to get past it. I suppose I just want him to get every ounce of help and advice he can in order to perfect his communications technique. He works in a small brokers so does not have many other actuaries in his network to ask for help.

Any help you could provide would be greatly appreciated. Please feel free to message me.
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Skyewoods
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#34
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(Original post by Moonp1g)
Hi everyone,

I've followed threads on this forum on and off for a few years and I've found the odd nugget of wisdom that has helped me along my chosen career path.

I thought it may be a good idea to give something back to those who are just starting out. If you have any questions relating to the actuarial industry, I'm happy to try to answer them.


As a bit of background, I graduated from a red brick university 6 years ago and was accepted onto a graduate scheme working for a large life insurer just outside of London. I qualified within 3 years and worked my way into management before venturing off to Asia (partly for work reasons, partly personal).

Let me know if there's anything I can help with.
What's the pay progression?
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161BMW
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#35
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#35
(Original post by Skyewoods)
What's the pay progression?
Varies from company to company
£500-1000 for each CT
£1200-2000 for later exams
But really does vary company to company.
Also get pay rise with experience
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QualifiedActuary
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#36
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#36
(Original post by Skyewoods)
What's the pay progression?
I recently posted a typical salary progression at a life insurer in this thread:

https://www.thestudentroom.co.uk/sho....php?t=5021222
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bhutra Suraj
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#37
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#37
I had a doubt regarding whether i am allowed to sit for ct 1 and ct5 new syllabus 2019 or ct3 as a nin member from ifoa if i did not have maths in my grade 12
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NeoWong
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#38
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#38
Hello do you know any actuarial graduates' starting salaries from LSE/Cass/Warwick/etc (assume they all did actuarial science)
And also does uni's reputation affect our starting salaries

And what are the popular firms?

Do many people prefer a job at Goldman Sachs/JP/UBS to Aon/Mercer/Big 4? Cos these actuarial firms help you to qualify as you mentioned (covering study material and exam fees), do firms like GS and banks (UBS/HSBC/Barclay/etc) also give you study time and cover your fees

Sorry I know a little about these things

Thx
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HomeworkHater
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#39
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#39
When did you start taking your CT exams? Like were you in your first year of uni or leave it until your finished?
Also how long did it take you to qualify?
Generally how hard do the exams get and what sort of competitiveness did you face?
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JamjamjamT
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#40
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#40
(Original post by NeoWong)
Hello do you know any actuarial graduates' starting salaries from LSE/Cass/Warwick/etc (assume they all did actuarial science)
And also does uni's reputation affect our starting salaries

And what are the popular firms?

Do many people prefer a job at Goldman Sachs/JP/UBS to Aon/Mercer/Big 4? Cos these actuarial firms help you to qualify as you mentioned (covering study material and exam fees), do firms like GS and banks (UBS/HSBC/Barclay/etc) also give you study time and cover your fees

Sorry I know a little about these things

Thx
Q1 - Most firms offer a starting salary of circa £30k for graduate actuaries and then add to that for any exemptions you get. No your Uni doesn't affect your salary but it may play a part in getting you invited to an interview or AC.
Q2 - Look at the IFOA website (https://www.actuaries.org.uk/) for the firms that offer actuarial grad roles.
Q3 - You go to wherever you get the job
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