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Steps to Becoming an Actuary

By Edited Nov 13, 2013 0 0

If are interested in becoming an actuary, and just wondering about the process as to how to go about actually becoming one, then hopefully this article 'steps to becoming an actuary' will be able to walk you through what steps that you have to take in order to actually finally become a fully qualified actuary in the United Kingdom and answer some of your questions.

Please bear mind though this guidance isn't fully detailed, therefore I would use it more to familiarise yourself with the process and then seeking career advice for the details of the steps to becoming an actuary.


Step One to Becoming an Actuary

Choosing Your A Levels Wisely

The first step is that of choosing your A levels that are required in order to carry get a degree, many do advise that you take Maths A Level (as some firms specify that they require at least a minimum of a B) and also further maths and physics might be recommended - only from the aspect of preparation for the quantitative side of things, it would be a good idea to look into the A level subject requirements of some degrees as well before choosing your them.

If you have done any research into actuaries before you will soon realise the huge emphasis on maths there is and quickly realise you really do have to enjoy maths and quantitative aspects, if you are going to enjoy this job. 


Step Two to Becoming an Actuary

Choosing Your Degree and Doing Well

Once you done well in your A levels (well enough to get on to a good degree course) it is then time to choose your degree, any subject is considered 'acceptable' to become an actuary however the most common subjects are that of maths, economics, actuarial science etc. but it isn't unheard for people to become actuaries with degrees in subjects such as english either.

Then after you have completed your degree (usually with at least a 2.1 otherwise you are likely to struggle) you will need to start to find and apply for a graduate placement with an actuarial firm or a company offering actuarial graduate placements. To get on to the placement you will have to pass all the interviews and exercises there and then finally be accepted to work onto the graduate scheme.

(Becoming an actuary without a degree, would be difficult, therefore it is recommended, however if you get in contact with a firm that will take you on and you carry out the actuary examinations, then it could be possible.)


Step Three to Becoming an Actuary

Get On to an Acturial Graduate Placement and Complete the Training Process

Now you are in this graduate job you will be considered a trainee actuary after you have registered with the 'institute and faculty of actuaries'. This training process is claimed by most to take an average of five to six years, but it can take just three years for the exceptional circumstances. During the training process you will be carrying out actuarial work alongside other actuaries whilst working and studying towards examinations that cover aspects from to 'statistical modelling' to 'financial actuarial mathematics'.

Then finally once you have completed all the examinations and training you are then actually considered an actuary.

If wish to seek further clarification I would recommend heading over to career councillors and asking about their advice on the matter and they should go through with you a more detailed approach on the steps to become an actuary.


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