Should I become an Actuary by taking an apprenticeship, or going to university?

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laLala729
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I’m not entirely sure what I want to become but I’m thinking of becoming an actuary, because I love maths. But, It’d be nice to gain a lot of money from it. I’m not sure if taking an apprenticeship would limit career opportunities?
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artful_lounger
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Depends on what exact kind of apprenticeship you are doing. If it's a level 4 actuarial technician apprenticeship then there will still be steps you need to take before you become an actuary. If it is a level 7 actuarial apprenticeship then as I understand this will qualify you as an actuary by the end of it. I believe you can do the level 4 followed by the level 7 apprenticeship, but I am not entirely certain on the structure for that. For the level 7 apprenticeship though, I would imagine the apprenticeship would improve career opportunities if anything.

To begin with, companies sponsoring apprenticeships are usually doing so for their own benefit, and would likely prefer to recruit their apprentices directly at the end of their apprenticeships so as to benefit from all the training they funded for the apprentice (both in general and anything specific to that company's work processes). Even if you did look for roles outside of the company you did the apprenticeship with, you are qualified as an actuary so shouldn't have any issues on that front, but more importantly you will have years of relevant work experience under your belt that you can leverage through your CV, covering letter, and in interview to demonstrate with specific examples why you are a good person to hire for a role.

Something to note though is that the two routes are not necessarily mutually exclusive; one can do a degree then an apprenticeship (and it seems there are level 7 actuarial apprenticeships designed for graduates, as well as for non-graduates), or one can do an apprenticeship then a degree. However due to the funding models for degrees an apprenticeships, if you were to start one then stop and swap to the other, it would be better to start in an apprenticeship then go to a degree (either after the apprenticeship or by leaving it before completing the apprenticeship) than the other way round, as if you changed your mind again starting in a degree you may find yourself having to self fund some of your degree study.
Last edited by artful_lounger; 2 weeks ago
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Quick-use
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I have heard that some universities offer degrees in Actuarial Science with work placements all throughout, from first year until the final. I think some actuarial firms actually offer/sponser(?) courses in partnership with universities, where they allow you to gain continuous work experience until you potentially graduate and can join their company.
Last edited by Quick-use; 2 weeks ago
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