Hi all, Just thought I'd try my luck and see if I could pick up some advice concerning the options available to me as a nontypical graduate. Would really appreciate any input anyone can offer, so thanks in advance! About me: I graduated with a first class degree in Philosophy a couple of years ago, initially wanting to pursue academia before deciding it wasn't for me. Instead, wanting to study something more numerate, I took A level maths independently and have this year begun studying for a graduate diploma in Economics at a Russell Group uni, initially with the intention to go on to the Msc and further. Recently, however, I've become very interested in training as actuary and I'm now wondering about what the best way to approach it might be. What I'm really wondering is whether my diploma will be sufficiently numerate for any kind of graduate program. It's a mixture of second and third year courses with a decent amount of stats and econometrics, but obviously I'm way behind the typical graduate applicant when it comes to mathematical knowledge. I've made some applications already, but if I'm unsuccessful I was thinking about what the logical next step might be. I'm considering taking CT1 next September after finishing the course, which should give me roughly 3 months or less to prepare. If I manage to pass, I'm hoping this would really improve my chances of getting my application considered for a graduate position? I figured I could perhaps even try for some further exams during the following year if it went well. I also toyed with the idea of applying for an actuarial science grad dip, but even if I could get on to the course I'm not sure it would be wise? I mean, it's a huge investment and if I had a chance of getting a position without doing so it wouldn't make much sense financially. I guess my question is: do you think an economics grad diploma coupled with a CT1 pass would be sufficient for consideration at graduate entry level given my non-numerate background? Is this the logical way forward? Thanks a lot to anyone who takes the time to read this, really appreciate it.
hard to say for sure. Problem as I see it is that you're competing with (many) maths graduates and actuarial science graduates with exemptions. You might need more than just one CT.
The main thing that a prospective employer will be looking for is your passion to become and qualify as an Actuary. I am aware of English graduates who have been accepted and qualified as actuaries. The ultimate/only test of whether your current qualifications is sufficient is whether you are accepted for interviews. Many employers will require at least an A Level Maths qualification of at least a 'B' so studying towards this was sensible. A graduate diploma in Actuarial Science is a tried and test route so I wouldn't write this off although I agree studying whilst working will be a cheaper option. Studying toward CT1 could be useful to demonstrate commitment towards the profession and is an easy way to stand out from the crowd of people in your position but are unable/unwilling to go the extra mile. However it is important to appreciate that this is arguably one of the easier CT's so it is a tick box rather than the dealmaker. We can speculate all day but you won't know what is/isn't sensible until you receive feedback and attend interviews.
Thanks both for contributions. I will see how my applications go this time around, and perhaps try and contact some graduate employers directly to see whether they feel my current qualifications are sufficient for consideration. If I don't get through to interviews/assessment, I guess I need to decide whether I'd be best applying for an actuarial pg program, or whether I should try and study/pass examinations by myself. Studying for and taking several examinations in 2015/16 is a serious possibility for me as I work from home and could dedicate several full days a week. It would also give me a chance to develop other skills to help give me an edge: I was thinking maybe some familiarity with programming languages (VBA/SQL/C++?) I guess this is something I can start doing now, as well. Basically I want to do everything I can to make myself more employable. If anyone has any experience with taking exams in this way, or with entering as nontypical grad, I'd love to hear about route/results etc. Cheers all.
