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Views on requirement of scientific degree (undergrad) for actuarial career success

D

DbFCCA

Member
I am early stage of the IFOA exams, and want to know whether it may be "necessary", to be conceptually excellent and accepted by all employers as an eligible candidate, to have a math/stat/physics degree and with 2.1 minimum? What is the acceptance rate of finance/accountancy graduates in most actuarial firms? Do you suggest the finance/accountancy graduates for an additional numerate degree for actuarial career?

Views from various countries with their own country's requirements are requested. (In my country, there is no actuary yet, so, I am collecting ideas.)
 
I would say it's a standard route to do a numerate degree, but not a pre-requisite. I know of actuaries who did not do one of those listed degrees. I think showing you are capable of passing the exams (maybe independently sitting whatever CT1/CT3 now is under the new syllabus), prior to an interview is a good first step.

I wouldn't say another degree is necessary if you are a finance graduate, unless you want to knock off some exams by doing an actuarial science masters.
 
When I joined the profession( donkey years ago), on my first day some very senior actuaries told me that I am "wasting my time" looking to work in an Actuarial team as I had studied Accounts at University and done an MBA in Finance.
It did have the opposite impact on me and I had decided then that come what may, I would qualify as an Actuary.
After so many years, I think having an Accounting and Finance background is a massive help if you work in Reporting . it does give you an edge over other "traditional" actuaries.
All the best and go fot it Db6/
 
I've got a degree in Accounting and Finance and I qualified.

Hard work, commitment and determination are all required to get through the exams. I'd only suggest that you see the exams for what they are, they are a hurdle to get past to progress in your career! Life can, and will, get in the way sometimes.... don't fall in to the trap of thinking that the only measure of success is passing or failing an actuarial exam.

Good luck!
 
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ProudActuary said:
Hard work, commitment and determination are all required to get through the exams. I'd only suggest that you see the exams for what they are, they are a hurdle to get past to progress in your career! Life can, and will, get in the way sometimes.... don't fall in to the trap of thinking that the only measure of success is passing or failing an actuarial exam.
Click to expand...

Life gets in the way rather less if you take a 2-year to qualify route via European Masters courses.
 
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almost_there said:
Life gets in the way rather less if you take a 2-year to qualify route via European Masters courses.
Click to expand...
Perhaps you could give some helpful advice to the poster rather than trying to hijack another thread as part of your 'glorious' vendetta against the IFoA. Let's keep this thread relevant and help the original poster.
 
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