Apprenticeships?

Hi all,

Could someone tell me please whether there are any apprenticeships which result in becoming a fully qualified actuary? I am a mature student who would prefer to work while studying, rather than studying a full-time degree. I've read about an apprenticeship where you study to become a CAA, but this wouldn't include the exams (?).

What alternative routes are there for someone who doesn't want to study a full-time actuarial science/maths/ degree?

Also - I am a self-taught coder (Python) and wondered whether this was a desirable skill within this field?

Thank you in advance

 

From what you say here it is hard to advise you. Do you have a degree already? That is helpful coming into the profession. If not then you must at least meet the min entry requirements. It isn't the main route of qualifying but you could consider starting can via an apprenticeship and then make the move and switch into a more conventional trainee scheme. Consider doing one exam under your own steam - this proves commitment to employers as its competitive. Coding ability is helpful though not a prerequisite as most jobs include training in a language or actuarial software. When applying emphasise transferable skills you have demonstrated to date. It's not going to be easy but it's not impossible if you can get a foot on the ladder

 

Thanks for your helpful response.

Sorry for the lack of background info! In short, I'm studying to get in to university ('18) so no degree yet, but have my sights set on either applying for either actuarial science or maths with statistics. I'm a mature student and would much prefer to work, so if there's an alternative route (even if it takes longer) that involves on the job training then I'd prefer that option.

You mentioned an apprenticeship - I take it that's the CAA apprenticeship? Do you know of any other apprenticeships?

Thanks again!

 

It's a very long shot, but some employers may take you and start you straight away on the mainstream exams. It's a job straight away - not a formal apprenticeship. Look for employers who don't ask for a degree - but unfortunately most still do want one. You need a solid academic background, good reasons stacked up as to why you chose the career path to date you have, strong skills you can bring to the workplace etc etc. But yes, a relevant degree will be a big help and maybe earn some money alongside even if it's something like customer service work in financial services. That will help show you know how your eventual industry works. In your position you will have to do the legwork. Don't think recruitment consultancies are the way forward, but a well constructed targeted approach might - or at least offer you some very short term unpaid experience which is still helpful building a cv for later.

 

Yes you're right about the degree. I think that my CV will appear quite weak in the future without one so I think one solution could be to study a part time maths/stats degree (unfortunately there's no PT actuarial science) and acquire a role in finance for the experience. Plus self-study for the exams.

Or if possible, apply for a CAA apprenticeship and study my degree part time.

Anyway thank you so much for your help.

 

Examples?

 

Think Ernst & 6Young announced about 18 months ago for many jobs with them they were ceasing to be specific on degree grade or number of ucas points, preferring other screening methods. Don't follow it closely.
Still highly competitive and easier with a degree is the message.

 

Doubt it. That tells the market your rate: £0.

 

Even two weeks observational unpaid work experience is valuable. It's about exposure and showing willing. Employers don't exploit, they offer a briefest of insight and equally they get a glimpse of you. Some of my employers have done this and a few years later, the individual comes back. And no I'm not going to name them, so please don't ask. This leaves a lasting impression which when you are ready, can open doors. Don't underestimate any type of experience you can get. Iobanks clearly wants to be in the profession. It's hard for everyone and being a mature student perhaps even harder. I'm offering steps that can in any small way improve chances - he/she deserves our respect and support. I have offered all I can now on this. Best wishes, Iobanks. Follow your dream

 

Alternatively consider pursuing an actuarial degree on the continent. You can then trade it back via the MRA in the UK for FIA.