In "The Actuary" this month, President of the Institute Jane Curtis declares that "over half of the Profession's 10,000 students are based overseas".
Also the President states the following :-
"Many members of our Profession work or have links in countries outside the UK. Part of the role of the Profession is to support these members in their work wherever it is located, to enable them to move easily between countries with a portable qualification..."
&
"In an increasingly global economy it is clear that the I&F cannot and must not operate on its own. For that, our eyes must be raised beyond the horizon of UK shores."
Few points :-
1. Where is the support for UK members who don't want to work overseas but would actually would like to work in the UK on behalf of UK customers and have some job security here?
2. If the UK is a country short of actuaries, why won't the Institute apply training discounts here?
3. It seems we will increasingly have to compete internationally for UK jobs at international rates i.e. lower.
4. Why doesn't the Institute itself consider moving abroad and save everyone some costs? If the future membership will be overwhelmingly overseas then why be based in the UK at all ? Edinburgh or London aren't exactly cost-efficient locations compared to setting up an office in a special overseas country. Perhaps Jane Curtis wouldn't mind moving to India and living on localised wages.
5. Won't UK companies take advantage of this labour pool outside the UK by either importing or employing foreign consultancies to carry out actuarial functions instead of training their own UK actuaries? Because it will be cheaper for them.
6. Have UK actuaries been consulted about any of this, or given consent to this agenda?
Must say that the article sounded eeringly similar to the talk of pro-EU politicians. Oh we can't be British, no we've got to sell out internationally or we die. UTTER TOSH !
Maybe it's time to get a career plan B, folks.
Last edited by a moderator: Nov 28, 2011