Summer internships -- when to apply?

[Gbob1]

I've researched a couple of companies online and it seems that the application process hasn't started yet. Does anyone know when I should be applying?

I am doing a Music degree, having passed CT1 in my Gap Year prior to starting my degree, and I have been told that I am in a good position. I am also currently researching the profession in preparation for any interviews.

Do I stand a good chance, in your opinion? How was the internship process for you, and what was the interview like? What sorts of questions were you asked?

Any tips would be great. Thank you very much!

 

[Gbob1]

Just found this on: http://www.cvtips.com/job-search/actuary-internship-tips.html

It says:

''Actuary internship interview preparation
The internship job is based on many important skills and a good knowledge of actuarial processes. Although this is a "training" job, there's a required level of knowledge and skills. The bar is therefore set high for interviewees, and preparation is particularly important.

Primary knowledge base issues in actuary interviews are:

•Data collection and management
•Analysis techniques
•Knowledge of statistics practices
•Undergraduate studies (Usually finance, economics, or business)
•Actuarial science program studies
•Actuarial software modeling and related skills, sometimes including programming
Employers naturally require interns who are well prepared in their line of business. These are all baseline skills for which most actuary students are trained, but the next level can be much more complex. Depending on the industry and the employer, there will be specialist knowledge and skills involved:''

That's just worried me slightly, because I don't really know anything about 'programming', 'data collection and management' etc. CT1 provided me with sound grounding regarding analysis techniques, but that's long gone out of my memory

 

[Calum]

That advice is aimed squarely at the North American market, which seems to have a higher entry bar than in the UK. It's not bad advice, but I wouldn't go running out to learn C++ on the back of it either.

I would say you need to be able to show two things: that you're up to the mathematical standards required to tackle degree level maths, and that you understand what the profession is about. At the end of the day, companeis would far rather have a good employeee who took a few months to get up to speed than a bad employee who could write a =MATCH() formula.

As far as the mechanics of applications go, many companies take on interns in parallel with their graduate recruitment (putting them through the same process), so usually around autumn time. Cold-calling large employers can be surprisingly effective too. That said, companies open up positions right up to the start of summer; of my year at uni, maybe a third of those who went on a placement didn't confirm one until near the end of the summer term.