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Career Changer - Non Financial Background

A

aarondeep

Member
Hello,

I have seen other threads related to the career change subject, so please excuse me for posting another one. Its just I would find it most useful if I could have answers that relate to my own circumstances.

I'm 27 years old and I've already gathered its not too late to move over into Actuary. However, a couple of other points to add about myself:

- At university I did business and management, and did not take finance/economics etc. I only have a Maths Statistics A Level
- I have also never worked in the financial sector. I work as a Merchandiser for a Retail Company. I do believe my job has strong transferable skills, however

I'm studying for CT1 at the moment. After the exam I will start looking for graduate jobs and will also start studying for further CT exams.

Will it be too early to apply for jobs with just a CT1 with only a Maths A-Level and no financial background? I'm guessing yes?

In the meantime should I be looking to get a job in the financial sector right away to boost my chances? Or alternatively would it be ok to stay in merchandising and study for further exams in my spare time?

Many Thanks in advance for your help

Aaron
 
I would say there is limited upside to passing a lot of exams on your own, and it gets expensive fast (study material + exams + membership = £££).

Given your maths background is relatively limited, it may be worth looking into going down the Masters route. Obviously that puts you out of work for a year or two so may not suit your circumstances.

If that's not an option then I'd be inclined to agree that trying to move into the financial sector may be a usefull addition to the CV.

And also, you may as well apply to every graduate scheme going. The worst they can say is no!
 
Calum said:
And also, you may as well apply to every graduate scheme going. The worst they can say is no!
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Yes but remember to be very pretentious if you get an interview and pretend this is the one and only job you've ever wanted and tell them their company is the best. HR like that sort of garbage- can't tell if they're too stupid to know people apply everywhere or if they just value disingenuous people sounding convincing.
 
Calum said:
I would say there is limited upside to passing a lot of exams on your own, and it gets expensive fast (study material + exams + membership = £££).
Click to expand...

Sadly employers don't seem keen on people doing exams off their own back. They prefer to use the exam system as a means to control their trainees. Some demand too many exams in one sitting, setting up people for a fall then throwing it in their face when it comes to pay review time.
 
It depends on what you are looking for. Actuarial recruiters tend to have various specific requirements which are difficult for career changers to meet. If you are interested in financial work there is a huge range of financial work in financial services and industry, and often people in these jobs can come from diverse backgrounds. So I would also consider a wider range of financial work.

If you are interested in mathematics or statistics, there are jobs in these fields that offer more of a focus on research and mathematical or statistical analysis than actuarial work.
 
mpyan1 said:
Sadly employers don't seem keen on people doing exams off their own back. They prefer to use the exam system as a means to control their trainees. Some demand too many exams in one sitting, setting up people for a fall then throwing it in their face when it comes to pay review time.
Click to expand...

This is not mine or many other's experience of the industry. And what you are talking about is hardly relevant to someone trying to enter the industry.
 
Calum said:
This is not mine or many other's experience of the industry. And what you are talking about is hardly relevant to someone trying to enter the industry.
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I must say, this is also not my experience - My employer has never put pressure on me in respect of exams or the rate at which I take them. And my salary is reviewed not only on exam progress but also on experience. You seem to have a really mean employer if he's throwing a fail in your face :(
 
Calum said:
This is not mine or many other's experience of the industry. And what you are talking about is hardly relevant to someone trying to enter the industry.
Click to expand...

It's only right that people get to hear others' experiences of the industry, good and bad.
 
mpyan1 said:
It's only right that people get to hear others' experiences of the industry, good and bad.
Click to expand...

Maybe you should point out that your comments are your own personal experience. The way you have worded your comments above makes it sounds like what you talk about is the norm in the industry, when it doesn't seem to be (for other people on this forum anyway).

Personally, my employer never pressured me into doing too many exams, I felt fully supported throughout, so there are definitely employers out there who will treat you right as you progress along the path to becoming an actuary.
 
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