career advice please

[gradesina]

Hi
Firstly i would like to say hi and introduce myself a bit.
I have recently finished my part time (evening study) BSc in Maths & Stats and have been thinking about becoming an actuary for quite some time. the problem is, that this will be a career change and I am a mature student (I'm 32 ). I have been working in (boring) Admin (including a bit of Accounting) for 5 years now. Are there any career changers out there? do you think that it is too late to start with the exams? I have read that in order to get a job in an actuarial company it helps if I did a couple of exams myself to show commitment. Do you think that this would be a good idea? My alternative was going into Accounting and starting an Accountancy qualification. do you think that this would be "easier"?
I would really appreciate any thoughts or ideas. This is a great forum by the way!

 

[examstudent]

Hi

you ll get lots of different views from us on here..

Dont even consider age when making your decion. . (in addition, i cannot see how the actuarial employers could justify discriminating on age, given the projected longevity improvements which they keep producing!)

most important thing is you did a maths and stats degree and clearly enjoyed it. accountancy wont develop your maths skills, the first part of the actuarial exams (Ct series) will. However, the later exams (CA, ST SA) are more more verbal, focussing on risk, capital, return issues in insurance,pensions and investment.
Plus im sure you know actuarial work is more highly paid etc...

Actuarial education has changed in recent years. The professional exams arent the only route, you can get exempted from most of the exams via university courses (part time or full time - see
http://www.actuaries.org.uk/Display_Page.cgi?url=/students/university_accredited.html). You'll see lost of views on here which cite the exemption route as easier, faster etc.
You can pick the route which suits your circumstances etc. If you decide against university option, I'd start studying nowfor the CT exams while your maths and stats is fresh!



best of luck!

 

[ExamFatigued]

Hi. Don't let your age put you off. Most people do start straight from university, but there should be no age barrier. Your main problem is going to find an actuarial employer who is willing to take a chance on you. I'd strongly recommend that you get a couple of the CT subjects under your belt so that you can demonstrate your commitment - you may qualify for an exemption for CT3 through your degree, so I'd apply for that straight away.

I've changed career - from a pensions environment to life office and back again. I've been lucky that most of my work was technical and relevant in an actuarial context. However my biggest stroke of luck was finding an employer who was willing to sponsor me through the exams when I was well into my 30s.

If you decide on accountancy, this would be quicker in terms of average qualification times, but then you need to ask yourself what would you rather be? If you're not sure then it will be hard to convince an employer that you are serious about your intentions. Whether it is easier to complete the actuarial or the accountancy exams is a different question - it would make for an interesting discussion on these boards. All I can say is that the actuarial exams are certainly difficult and definitely intellectually challenging. Anyway, good luck in your quest to find a fulfilling career - and an employer that is committed to your personal and professional development.

A final point, don't forget there is age discrimination legislation out there now, so no employer should reject you purely in terms of age.

 

[gradesina]

Thanks a lot! I really appreciate your thoughts!