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Why do you want to pursue a career in actuarial science?

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Why do you want to pursue a career in actuarial science?

A career as an Actuary promises you job security even during economic uncertainty as their expertise is always required for umpteen risks that corporations face. The ongoing COVID-19 crisis has given a fillip to risk management and mitigation skills and promises a secure future for Actuaries.

What motivates you to start actuary exams?

It’s a challenging, intellectually stimulating and rewarding career, that suits an analytical mind who enjoys problem solving.

  • The barriers to entry are high, but meritocratic, resulting in a degree of external recognition and prestige for having accomplished it.

    • What is ‘so bad’ about being an actuary?

    The biggest problem with being an actuary is relative: the barrier to entry is very high compared to being an underwriter, and the pay is often lower. The well publicized DW Simpson salary scale notoriously overstates actual compensation for actuaries, and even then good, experienced underwriters do better with almost no barrier to entry.

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    What are the disadvantages of being an actuary?

    Pay. Because of the rigorous academic requirements and competitive nature of the work,actuaries make incomes well above average.

  • Interesting Work.
  • Stress.
  • Educational Demands.
  • 2016 Salary Information for Actuaries.
  • Studying for Exams.
  • Very specialized and competitive.
  • Unfulfilling work.
  • Long hours.

    • What does it take to become an actuary?

    How to Become an Actuary. Becoming an actuary is a multistage process that can take several years to complete. Once you’ve completed the process, you’ll be a fully-qualified actuary. Here are the steps to becoming an actuary: Earn a bachelor’s degree in math, business, actuarial science, finance, statistics or a related field.

    What are some reasons people become actuary?

    Passionate about maths. As actuarial science is a numbers-oriented field,all aspiring actuaries should be interested in numbers.

  • Money. Many people are attracted to this career because of the salary.
  • Top-rated profession. Actuarial science is consistently voted one of the best careers to pursue.
  • Enjoy a challenge.
  • Well-respected career.
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