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The growth of Actuarial Science…

Posted by
03 Dec 2015
Over that past five years I’ve noticed a steady increase in the number of prospective Actuaries who are choosing to study Actuarial Science at university. Many choose this type of degree, for their interest in the subject and how it focuses on the application of actuarial methods to the ‘real’ business world.

However, I’m sure there is also a number of students who opt to go down this route to secure the exemptions that are on offer from the professional actuarial exams. It’s possible to achieve exemptions from the eight of the nine CT series with one of the BSc programmes on offer and with some MSc level courses, students can gain additional exemptions from the CA, ST & SA series. The increasing popularity of an Actuarial career (voted the No.1 job by Forbes) has seen a number of Actuarial Science programmes pop up at a raft of institutions.

There are now 14 different universities offering the course. This may not sound a lot, but given that not too long ago it was only Cass Business School, Heriot Watt and the University of Kent who offered the course, it’s clear to see the growth. For all the good the programmes can offer some of my clients can still be a tad skeptical. Their main gripe is often that they feel students who have a raft of exemptions miss out on the challenge of balancing work and with two exam sittings per year. I guess for those with no exemptions, who tackle the 15 exams, splitting your time between studying and working must become a skill in itself.

Perhaps this is what my clients are getting at. Nonetheless it must be highly enticing, if you know you want to be an Actuary, to get some of the exams out of the way whilst studying for a degree. However I don’t think anyone should take away from the hard work that people put in whilst at university. After all, achieving fellowship is no easy feat, as whatever path you take to get there will have its own challenges. I get the feeling that market is already much more accepting of those who choose the exemption route, and I think the number of people choosing this path will only increase in the coming years...

Have you recently completed an Actuarial Science course and looking for the first step in your career? Get in touch now via email for a confidential discussion... 
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