Hi Guys, I'm looking for some advice and hopefully you guys will be able to help. I'm seriously considering taking my first exam next April, although I'm slightly concerned about how difficult it would be for me to gain employment. I recently graduated with a 2:2 in mathematical sciences and also have poor a-levels (D in math, got into uni through clearing) it seems most companies require good a-levels or at least a 2:1, or am I wrong about this? So just assuming now that I have the ability to pass the first few exams by the end of next year. Do you think it's worth pursuing, or would I have a hard time getting a job. Any advice anyone can give is much appriciated. Thanks Dave p.s at the moment I am temping as an admin assistant and wouldnt be planning to start a career till around the end of next year.
Think your academic bits will let you down: http://www.actuaries.org.uk/Display_Page.cgi?url=/students/admissionregs.html Also, I think you're right - it will be tough to find a job. Most places I looked at wanted very good A levels (straight A's across the board helps!). Also, bear in mind that the actuarial exams are very tough, unlike anything you've encountered before. You could easily waste years of your life if you're not up to scratch. Apparently nearly half of student actuaries never make it to qualification... Whatever you decide, good luck!
I think you may struggle to secure a position, especially having just a 'D' in A-Level Maths. The majority of new recruits will have at least a 'B', an 'A' being the most common. I think the 'D' will count more against you than your degree class; this is because the early exams are more like A-Levels than University exams. But having said that, if you can pass a few CTs on your own (although I think it will be tough, if not impossible, to pass them all in a year) you may improve your chances. Good luck .
Thanks for your honest replies, I may have to have a bit of a re-think now, does anyone else have any different views? Thanks
other views: my view - if you want to do this qualification do it. as you know these exams are hard - however they are not impossible. In fact some would say these are not hard, they require a certain way of thinking (new rules etc) which takes time to get used to. 4everstudent said one of the most accurate things - the early exams are more like a levels - even though the maths is undergraduate level, the style of questioning is typical of a level maths ( the same concept just asked in a different form). As you have done a maths degree, you are certainly above a D standard in a level maths - you can buy Acteds FAC course to get your a maths up to scratch to be able to do CTs. (there are univeristy exemption routes into profession too) Just make sure you have the academic requirements to join institute though - if you have to retake your a level maths to do it, do so (its easy to get A or B in it now as syllabus is less intensive,) Best of luck,
Dave - Perhaps an alternative approach would be to aim for a back door. Look for work in an actuarial environment but not directly an actuarial role. If you can demonstrate some relevant work experience and can get a couple of exam passes you'd be in a much stronger position a year or two on. If you have work experience and exams, then your academic record becomes less relevant, so no reason you wouldn't get an actuarial job. And that way your career wouldn't be on the line if the actuarial exams don't work out. Louisa
Bear in mind about 2/3rd of people starting the exams will fail to complete them (and most of the people starting have A/B's in the A-levels and 1:1 / 2:1 degrees) So even if you get in, be aware you could struggle to pass the exams - and the career options for failed actuaries are not good. Might be better to get into a different field where your probability of success is much higher.
The OP did say he had a 2.2 in mathematical sciences, which should qualify him for student membership of the Insitute (the requirement is either the relevant A level - I did the Irish Leaving Cert so I don't remember the rule - or a degree in a numerate discipline). I'm not sure where his degree is from, but that ought to be enough. My own personal journey is that I am currently working in IT (on what is by any standards a good salary) with a third, so I'm currently doing a few of the CT exams alongside some courses from the Open Uni to increase my employability when I decide to make the switch. Thomas
