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Is a career in actuarial science rewarding?

I am a student keen on studying actuarial science, however I have concerns about the job market.

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Hitesh’s Answer

Hi Kuzivashe
Actuarial science find significant application across all kinds of businesses in Insurance industry. Insurance is huge growing market across the globe and hence always ready to absorb people skilled with actuarial science skills. Also, not many student go for actuarial science as this is a mathematics heavy subject, usually not that common across the students. So, you are likely to face less competition and high demand. You can also think about some AI/Machine Learning courses relevant for actuarial science to prepare yourself for future actuarial science driven by AI.

All the best!
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Donna’s Answer

If you have interest, definitely pursue this career. It offers a diverse range of job opportunities. In becoming a professional actuary, you will gain invaluable skills in analytical thinking that will take you far as such skills will always be in demand, even if you change direction. It is a career not many pursue, vastly less than say attorneys or accountants, which I found enticing when I started my career. I recommend going to the websites soa.org and casact.org to learn about the two main actuarial tracks (life/health or property/casualty) in the US as well as the exam and educational requirements and subtracks for each of them. The road to becoming a fellow of either the Society of Actuaries (SOA) or the Casualty Actuarial Society (CAS) is long and difficult but the rewards are worth the effort. Some of the requirements can be done through university coursework but mostly it is done while actually working in the field so you get a taste of the career as you pursue your professional designations. Good luck to you.
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Angel’s Answer

A career in actuarial science can be incredibly rewarding! The field offers high earning potential, job stability, and the opportunity to work in diverse industries like insurance, finance, and consulting. While the job market can be competitive, demand for skilled actuaries remains strong. Stay focused, keep developing your skills, and opportunities will follow!
Thank you comment icon Thank you so much for the advice. Kuzivashe
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Kamuela’s Answer

If it is your area of interest, I would say yes! Doing something that you enjoy is priceless. Actuarial science jobs are available in the market place. There is also a community for this profession. Networking to interact with others in the Actuarial science field is extremely helpful. Passing exams are needed; however, passing all of them before being hired is not required. Taking the time to gain a Bachelor degree and learn computer systems to preform the work. While you are learning start to research the job market. Sign up for job alerts and decide which companies are of interest to you. Starting early is recommended and allows you know of opportunities early. Stay focused and monitor the job market.
Thank you comment icon Thank you for the advice. Kuzivashe
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