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Actuarial work is one of the most desirable career paths to take, in the UK, USA and the world. However many people make bad choices about degrees, and assume that undergraduate study is limited to various specialist universities, that is not the case. Employment as an actuary requires skills rather than specific facts and information, many degrees offer this and in fact some employers prefer those from a more diverse educational background.

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EditSteps

  1. Choose a Degree to Become an Actuary Step 1.jpg
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    Assess your skills in sixth form. To become an actuary you are required an understanding of higher level statistics, calculus and economics. If you are studying subjects such as maths, further maths and economics and enjoy the content and show the capability to learn more, you are displaying the ideal skills for potential actuarial employment.
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  2. Choose a Degree to Become an Actuary Step 2.jpg
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    Show that you have a diverse educational background. Employment in any social science requires a variety of strong skills in various subjects, these range from sciences, humanities and even fine arts. Remember that you need to understand the subjects of statistics, calculus and economics, so maths and economics are still important.
  3. Choose a Degree to Become an Actuary Step 3.jpg
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    Choose your degree based on your skills that you have gained from your A-levels, and what you enjoy, but most importantly what you are good at. Subjects that actuaries have studied include maths, economics, actuarial science, natural sciences, engineering, finance and statistics.
  4. Choose a Degree to Become an Actuary Step 4.jpg
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    Actuarial Science is a great degree, but can limit you in the future. Actuarial science does cover everything required in the theory exams of the CAE tests (Centre for Actuarial Excellence), but you have still got to study with a firm after graduation. Providing your university course has allowed you to study the skills of calculus, statistics (including probability) and economics you will cope very well during training- it is training after all.
    • The postgraduate training will cover everything else required to become a certified actuary. A degree in a subject that shows a diverse range of skills, will make you much more appealing in later employment.
  5. Choose a Degree to Become an Actuary Step 5.jpg
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    Once in university choose units wisely. From your second year optional papers can be taken, it is suggested that you take a unit in applied statistics, mathematics, or financial calculus (or subjects of that nature)- this can significantly help you during your postgraduate training and theory exams with the CAE. Many courses help you from theory tests with the CAE, this does vary from course to course- but you must sit most of them anyway.
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EditTips

  • Study what you are good at and enjoy. As you progress through the corporate world some of these skills will be useful. Actuarial Science is great to be an actuary, if you want the classic build-up through the corporate world and want to continue just doing actuarial work (rather than working as an actuary) other courses may help you develop better.

EditWarnings

  • You must be a capable mathematician to become an actuary. Remember higher level statistics and calculus are very difficult, and will become more complex the deeper you study. A good indicator is your GCSE- an A/A* will display your capability.

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Categories: College University and Postgraduate

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