So your time as an undergraduate student is nearing to an end and you have one eye on what’s next after university. For many students the transition between the student lifestyle and the world of work can be an overwhelming, daunting and even scary process, however with a bit of guidance it can be the most exciting time of your life.
A career in actuary maybe just the remedy for all of those worries and in turn provide you with one of the most exciting and diverse careers in the world. Like many others, you may be unaware of what an actuarial job is, how to gain a career in the industry and what opportunities are currently available. Well worry no more as below provides you with a brief overview on all the basic information you will need.
What is Actuary
Actuaries are statisticians and problem solvers who have a deep understanding of financial systems, risks and premiums. They are experts in risk management and such knowledge is valuable to many industries and businesses to assess future risks and investment opportunities. By predicting future risks through mathematical theory and probability it can enable businesses to prepare for risks through highlighting associated costs and allowing businesses to take a direction with more insurance.
What do you need to pursue an Actuarial Career
To pursue a career within this industry you will need to be a lover of maths and having an understanding of the business world and how it operates will also be advantageous. The most common route to a career in actuary is through education and university, which will enable you to apply for a graduate trainee position. A grade A-B will be needed in A-level Maths along with a 2:1 or higher awarded degree from university. Once on board a graduate trainee scheme it will usually take around 4 years to complete further study and become a fully-fledged Associate or Fellow of the Institute and Faculty of Actuaries.
Recruitment companies are a good place to start when assessing potential opportunities available straight from University as they can take much of the pressure job hunting usually entails off of your shoulders. Industry specific recruitment companies such as Star Actuarial also will enable to view a collection of vacancies in a range of different sectors. If you would like more information of job vacancies you can click here.
Once you are a fully qualified actuarial professional the possibilities are truly endless in a range of equally fantastic sectors such as Pensions, Investment, Life Insurance and Risk Management. There are also opportunities to work anywhere around the world as the qualifications are universally accepted.
About the author: Chris Algar writes for StarActuarial.com who provides industry specific recruitment by working with leading UK consultancies and insurance companies.