Advice on a Career Change

I'm considering a career change to Actuarial Science. I have an A at A'level Maths, good results in Engineering Maths at BSc. (Hons) level and completed an MBA in Construction and Real Estate (University of Reading) last year. I've no doubt that I would be good with the Maths. I'm currently working as an Engineering Manager (Geomatics) and I'm looking for something more challenging and highly rewarding.

Could someone give me some ideas on how best to go about it please? I'm 31 years old by the way.

 

Hi,

Your academics seem fine (I assume your BSc degree is a 2:1 or 1st) and so there shouldn't be a problem in this area. Your age shouldn't cause a problem either (especially with the recent anti-age discrimination legislation), but you may find potential employers still favouring fresh faced 21 year old university graduates! Thus, it might be worth starting 1 or 2 of the early exams under your own steam to show commitment etc.

If you haven't already done so, you should have a good look through the Institute website, where you can find details about the profession, the exams you have to take etc. Also on the site, is a list of actuarial employers.

I hope it works out for you and what, by the way, is Geomatics?!

 

Geomatics

Thanks for the advice.

Put simply- Geomatics is the combined term used for the science and art of Surveying, Mapping, Geographic Information Systems, Remote Sensing, GPS (Global/satellite positioning systems), and other land based engineering applications.

It's a specialist engineering discipline.

Everyday encounters of Geomatics products are Maps and Plan Drawings, Sat Nav, Google Earth, and Digital Imagery.

Interested?

 

career change

Hello,

I work in a life reinsurance company. One of my colleagues has a maths/stats. background and who works in keeping up to date with product developments is just about to start the actuarial exams. He is probably about 28 to 30. Just so you know you are not the only one thinking of a late career change!

I agree a couple of the early exams under your belt before you apply for actuarial jobs will help to show commitment. You might want to look at the ActEd Foundation Course which is on their website just to see how your math brushes up with what will be required as already understood for the first set of exams.

Goodluck!

 

Geomatics sounds very interesting.

I am now considering a career change the other way ....

 

Which exams.

Your advice is much appreciated.

It would appear taking a couple of exams is the best way forward, the question then is which ones? Do you think the Foundation course could be sufficient on its own- or do I just take CT1 and CT2. There's obviously some cost implications to consider.

 

Hi MoyoA
as you I am thinking of a career change to actuarial science (I am 32 btw). I am currently doing a part time MSc in Applied Stats, which hopefully will come handy. I am planning to do a couple of exams (maybe CT1 and 3) on my own before applying for actuarial jobs. I haven't started yet though as it is all a bit expensive and I am not sure whether it will be too much to finish the MSc and to do CT exams at the same time.
However, your age should not hold you back! Good luck with your decision!

 

Don't bother with the foundation course, just dive in with CT1 - I am sure all of your old A-Level maths will come flooding back to you. Also, to save money, don't bother paying for marking as you can easily do this yourself on the early subjects (solutions are provided with the assignments if you don't opt for marking).

CT1 is straightforward if you have a strong maths background and so you'll be fine!

 

As already said... go for it!

But whilst you watch the ££££ remember you need to be a member of the profession to sit the exams, and there is an admission fee and subscriptions to be paid! You may get away with reduced sub fees but will have to look into that. There is a cut-off date to have gained membership before you can apply for each exam diet so beware there too.

If you lapse your subs and later want to rejoin there are readmission fees to deal with too. So don't understate the financial commitment you are about to undertake!

But it is by no means mission impossible. Welcome to the Club.