uk students university

seeing that UK universities will soon be allowed to charge home students higher fees than they are currently paying, will we start seeing more actuaries without BSc degrees, straight from year 13 into professional exams?

yes i just wrote this on a Friday evening, i too think i need to go out more....

 

It would not supprise me to see this happen. Could be a good opportunity for actuarial employers to recruit people who are put off going to university because of this. Basically target 18 year olds that are great at maths but cannot afford to go to university then train them up. You would not need to pay them as much as a graduate as well.

 

so far, one of the requirements to join The Actuarial Profession - Institute of Actuaries in the UK is to have a BSc degree in Mathamatics, Statistics, Economics etc......I doubt that the Institute would change this requirement.....other countries would not change it.....UK actuaries need to keep their worldwide status as well respected professionals.

 

Actually I don't think you need a degree:
http://www.actuaries.org.uk/students/pages/how-register-student
In fact I don't think you need anything, as passing CT1 as a non-member is sufficient to meet the entry criteria (and there are no requirements to enterting that exam).

 

Hi everyone. Id just like to add to the discussion. Currently I have taken a gap year due to a number of reasons, which included delays in the visa process, and yes, to an extent, my financial condition. I was scheduled to study B.Eng in Electrical and Electronic Engineering from the uk. Actuarial science was something which always intrigued me, and I shall be sitting for the Certificate in Financial Mathematics in April. To add to the discussion, I have talked with a couple of actuaries and actuary students in Pakistan, and quite a number of people over here start giving the exams immediately after completing Grade 13. Personally speaking, I think that it's better if someone first completes an undergraduate degree first, because that way, you get to experience university life (which makes you grow as a person and helps you in socialising with an array of different people) and you also have a university degree to enhance your CV and something to fall back to as well. I was wondering whether there are any disadvantages of giving the exams without going for university,and whether this format is followed, if at all, in the UK?

 

it isnt

I got into the profession 13/14 months ago with A-levels, I have 3 passes so far, preparing for 3 more CTs in April. Minimum profession requirement is a B for A-level Maths and a C in any other subject and i think at least a B in GCSE english. Unless they've recently changed it.

The CTs are extremely challenging and they sieve out people who cannot handle it. They can even make GCSEs the minimum requirement but Ruin theories and transition intensities will prove to be too difficult and keep the standard very very high.



CASS even offers a place in its MSc in Actuarial Management if you have at least 4 CT passes. No need for a BSc

 

I have 2 friends who got places in those programs straight after a-levels but in smaller firms and they are doing very well, 21 years old and 2/3 years away from being CAs. But from CT2, accounting isn't exactly on par with CT4/CT6 or even CT3 if i wanna be mean at accountants lol. That's why i'm wondering that can people really handle it straight after High school? I had first year of university mathematics before pulling out and it helped me into the CTs.

 

Sorry that this reply comes so late. Just wanted to correct a few mistakes in previous posts. Firstly, Deloitte are not an accountancy firm. We are a professional services firm. We do audit, tax, corporate finance and consulting (including our actuarial practice)

Also our School Leavers Programme is a new thing that will be running alongside our Scholar Scheme Programme for people who take a gap year before going on to University. I'm doing that at the moment as the Actuarial Scholar for this year and providing I can get the application process right, should be sitting CT1 in April. I've been with the actuaries since October, and have gained quite a lot from the actuaries that would make working here permanently so much easier.

Also as a plug, if there is anyone interested in taking a gap year this year we still have places available for 2011 entry in London, St Albans, Reading, Leeds, and Manchester. If interested feel free to private message me, or for greater ease email me at rodufisan@deloitte.co.uk.

Sorry for the long post