What you can expect to earn from studying Actuarial Science| My current salary?
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- čas přidán 28. 01. 2023
- Hi there! My name is Ven and I am an actuarial student with the Institute and faculty of actuaries. I currently work as an Actuarial Analyst in the General Insurance reserving space. In this video I explain what you can expect to earn in the Actuarial industry. If you would like to view some numbers relating to potential salary please read the following article mentioned in my video: www.rateweb.co.za/news/actuar....
#actuary #ActuarialScience #Study #Careergoals
Thank you so much for sharing! Very informative
Happy you found this informative Goitse.
I'm a Math and Physics educator, And Thinking of Actuarial Route, so My Question Is that Which Course I Can Start With? And Is it possible to do distance learning yo become an actuary?
Who is more likely to earn more between someone who just completed their honours and someone who completed their degree and went straight to corporate and has 1year experience? (One who does not have honours has less exemptions)
Hi Goitse. It's really hard to tell. I think the number of exams is really a driving factor early on in an actuarial career. The year of experience is likely to have included a lot of on the job training rather than value creation on the part of the graduate. So it is likely that the first year of experience may only be complemented by an inflation increase to salary if no additional exams have been passed. To answer your question, in my opinion the one with Honours is likely to earn more.
Hi, I am a year 2 undergraduate student, who is doing a degree in actuarial science. I currently have exemptions for CB1 and CB2 from my uni courses and I plan on giving CB3 this year. Can someone pls guide me through the process? I know there is a 6-week business game, and then after 2 weeks we sit for MCQs but there is also this Stage 1 Professionalism Course that I have to take first. Can someone pls guide me on what it is and what does it do with CB3? Also if I fail my MCQs do I have to resit for the whole CB3 again? Also, in my current situation with no extra prior knowledge of CB3 exam material (I know they give the material) how likely I am to pass this exam if I take it this year?
Thank you so much for sharing! I am a second year actuarial student. You have mentioned exemptions offered by the university. I recently found out my university doesn’t offer exemptions. Is there a way to acquire the exemptions independently?
What university are you at
There is a way
Hi Kalila. Thank you for watching. The only other way to make progress with your exams would be to start writing the exams directly with the Actuarial Institution. Some institutions require you to have a degree to start writing the exams. This all depends on your location. It might be a good idea to speak to your lecturers to get a sense of what options you have and the viability of writing board exams while completing your degree
How does an actuary earn when doing a graduate program
hi Ven , is it true that there're few job opportunities for actuaries in SA
Hi Ndabezitha. It's hard to really know for sure whether there are few job opportunities for actuaries in SA but there seem to be a vacancies for actuarial jobs through the year. I struggled to get an Actuarial Analyst position both in 2015 and 2020-2021 but I think the market is very different for South Africans. The number of exams/ exemptions may also influence the number of opportunities available to an individual.
This survey is a bit confusing. Technically a qualified person can call themselves an actuary but but the general public can use the term loosely. Do you think they are referring to actual actuary based on the salaries or people with a couple of exams.
Another company that has actuarial salaries based on number of exams passed and experience in SA is SA3.
Approximately how many exams do you need to get an entry level job? And do they ask for specific exams in these entry positions?
Hi Fikile. Thank you for pointing this out. I believe the loose definition of an Actuary was used in the article as the figures in the earlier years are too low for qualified actuaries.
SA3 was actually my first choice but I couldn't find a published version that is accessible to everyone on their website. If you have a link to this, could you please share.
The market for entry level jobs is very competitive. With many graduates entering the market who are likely to have no experience e.g. vacation work, the more exams you have out of the maximum possible number, the better your chances. In the job adverts I have seen, they may ask for a specific number of exams but rarely individual subjects. This is not to say that it is impossible for them to be specific with subjects as well.
How good were your grade 12 results?
Great video. How many exams you have left?
Thank you. I have 3 exams left
How many exams are under your belt
Hi Ayanda. Thank you for reaching out. I have 10 out 13 exams so far.
Can I ask how many does it take to be a qualified actuarial scienctist
Hi Phumudzo. The Actuarial Society of South Africa requires an individual to pass or be exempted from 14 exams. The number of years it takes each person depends on their personal circumstances. It can be as short as 5 years including university or more than 10 years.
Hi, does this mean I can do my Actuarial Society exam while am still in Varsity??