Career Shift--Have some questions?/Want your advice and guidence.

Hello Friends,

This is Rahul (Electrical engineer). I work in software industry for the past 1 year.
I need your help and guidence regarding-:

1)Which sector(insurance,pension,finance etc) will be more beneficial for the person like me who want to shift from software industry to actuarial profession?

2) Will the work experience be counted ?

3) Suppose anyone passed 2 or 3 CT level papers then how can he/she apply to get jobs(please tell all the possible ways to do the same)?

4)What are the sources from which one can get information regarding-:
(a) Various companies in insurance,finance,pension sectors?

(b) which company is better than other? For Ex- IIM A is better than IIT B for MBA, etc?

(c) What will an interviewer ask wnen interviewed? For Ex- will he ask only related to subjects passed or other generral questions etc?

Please guide me. Your support will be appreciated from my bottom of heart!!!

 

Firstlt there are no barriers to which field. But do your research so you can talk about each sector according to any interview you get.

Interviews assess wider skills and potential. EG communications skills are always important.

Think how you can transfer existing skills and be confident about why the switch.

Its not impossible.

 

Thanks for your advice.
I understand that I should be able to convey the message to all the audience in a comprehendable way.

But will my software work expericence be counted in actuarial field?
From where I can collect information regarding grades,ranking,comparision of several companies?How can I apply and where should i post my resume after passing few exams?

Kindly answer these if u have any knowledge.
Your support will be appreciated from the bottom of my heart.

 

Hi there,

I moved from electronics to actuarial nearly 5 years ago. I'd virtually no programming experience, but had several years research/univeristy work under my belt before making the switch. Around a year after I got my position, I asked my interviewer why they'd hired me.

Turns out my previous experience was only useful in that the title of my thesis had impressed her husband when she'd shown it to him (he was an engineer). Otherwise I started just like any old graduate with a decent academic record. Perhaps communication skills came in handy, but in a way the academic/engineering training gave me a skill set I actually had to unlearn for my new job.

You'll start as any old graduate, but if your experience helps you learn faster and do better work, you'll find that recognised in your career progression.

Oh, and I just applied directly for graduate posts via company websites. The institute posts lists of actuarial employers somewhere on their website for starters.

Good luck

 

Thanks a lot for sharing your experience.

Regarding applying for jobs, do I need to apply (submit my resume)to all companies individually?....

It seems to be a tough job for me becoz I dont know which are the companies in insurance/pension/finance sectors who hire an actuary?....

....can you tell me the SOURCES(websites,magazines etc) from where I can gather information regarding the companies (name,comparision among various companies)in these sectors?......

Your support and help will be highly appreciated from my heart.....

 

Try the actuarial website for potential employers - www.actuaries.org.uk.

There are too many to list. Most positions are at head offices.

Get hold of the Actuary magazine. This has a vast list of recruitment agencies that can help you. You will need to send them their CV then they will tell you what opportunities are out there now. The magazine is available on line - www.the-actuary.org.uk.

You also see direct advertisements from companies there.

Your past experience is always valuable. Actuaries use PCs loads so software skills are important and transferable.

Good luck

 

Thank You so much for your valuable information.

 

Hi All,
As discussed with you all, I have decided to get UK membership. I have already joined IAI last year.

However ,I have some DOUBTS while filling the UK membership form.

1)Which form should I filled up and send? (As India is named under Special overseas rated country,So should I filled up that form only which costs 121 euro in total..)

2)In the section Employment details,Can I give Software work experience/company details or Is it for actuarial job details only?

3)In the section University details,what should I select?
(I have done my B.E.,electrical from RGPV university,Madhya pradesh,India with first class Hons.)

3)In the section school education,I am eligible for A' level or GCSE?
( I did my schooling from Kendriya Vidyalaya and st. joseph's school)

4)What am I supposed to fill in the section Professional Qualification?

5) In the section of refrees,Can I give reference of software company TCS's employee details? what is ARN in this field,is it mandatory to fill this?

Please help me out ASAP,I will be highly thankful to you all.

 

These seem like the type of questions that the Institute of Actuaries should answer. I'm pretty sure they have a section dedicated to membership inquiries. So just in case no one can help you here, there would be the best place to try.

 

programmer becomes actuary

I'd also suggest speaking to the main recruitment agencies as a starting point - they're ideally placed to give you feedback on what's available, what you can expect given your background and skills etc.

In my experience (in general insurance), actuarial skills and IT/programming skills are a great combination, and much sought after. You will probably have to start out in a graduate type role that doesn't require the software skills (although its quite possible an employer could be looking for someone like you), but the programming could certainly give you an edge over other candidates and be of use in an actuarial role.

 

Don't be daunted by the form. Fill it in as best you can and I'm sure they will come back with any queries.

Professional qualifications are things like membership of other professional bodies, eg some people have done accounting exams and so are ACCA etc.

With references, it is better to have a named individual, though they could be at your current employer. Many people use former tutors/lecturers from university.

Employment isn't restricted to actuarial. Many people apply who are looking for a fresh opportunity like yourself.

Good luck

 

Thank you very much for your valuable information.

 

I filled up the form and sent it to IAI,India.Thanks to ACTED FORUM and my friends who helped me a lot.