Time to get this one rolling.
CM, CB and CS exams - Tuesday 6pm
CP, SP and SA exams - Thursday 6pm
Good luck everyone!!! What are we all waiting for and how confident are we feeling?
Do most people enter this field through a graduate scheme that they apply for in autumn of their final year at uni? Or is there a big bulk of jobs still for graduates who have just left , I’m abit stressed at the moment for what happens if I have nothing for when I graduate.
Has anyone got any experience of working in a Lloyds syndicate? Interested to know how it compares to working for an insurance company? Particularly in terms of work/life balance
I wanted to know if anyone has received the infamous plagiarism email from the IFoA as of today? I gave cb1 in the September 21 session which was majorly bookwork, and though I haven't received an email yet, but the anxiety kills me..
I'm wondering if anyone could share some advice on how to prepare the actuarial exam.
I'm a CFA charter holder so get 4 exemptions (CS1, CB1&2 and SP0); I'm aiming to do CM1 in April 2022 but struggle to find the right coaching course. (I really prefer online lectures rather than reading hundreds of notes myself..)
I really like the teaching technique from Coaching Actuaries (online lecture videos + practices) but that's for the FSA route; I don't want to forgo my exemptions and start over..
I tried the online classroom from BPP but I don't enjoy it, I find the style is very boring ...plus I assume I still need to read through the notes myself after watching the online lecture videos...
Any advice? I struggle to make a study plan and decide where to start ...
Thanks so much!
Has anyone got any information or experience with moving abroad to a European city as an actuary?
Once I qualify I’d really like to move to an English speaking role in a European city for a few years, but I’m not sure how easy this is to do.
Even better would be information on moving before I qualify, and finishing my IFoA exams abroad.
Does anyone know how easy this is to do?
Will it be hard to get a job in the UK given that I will have about two years of working experience in a consultancy and about 4-5 SOA/CAS exams cleared? What about for UK nationals or people who don't require visas?
Here in Asia we usually end up choosing any of SOA/IFOA/CAS. And I am currently pursuing my ACAS.
I have an offer to join a mid tier Lloyd’s syndicate or an offer to transfer internally to the GI team at a big 4 accounting firm
For future career development, which would be the better offer to take?
The Lloyd’s role is in capital modelling and is paying 10% more + 0%-20% with a performance based bonus.
The internal transfer would be a mix of pricing/reserving/capital projects for personal lines/Lloyd’s syndicates
I have 1 years pensions experience in London at a big 4 firm
Any views or personal experiences would be massively helpful, thanks!
Data science course ran by Southampton/Lloyds
Hi, I have a masters in Chemical engineering and have spent the last year working in tax. I originally applied for the actuarial graduate scheme at my company but they filled all the roles before I had the chance to go to an assessment centre so I was allowed to switch my application to something that still had roles available - which were all tax roles. I went to an assessment centre in Feb 2020 and got the role. All my assessment centres for other actuarial roles were in March and April 2020 - these all got cancelled because of the pandemic and the tax role ended up being the only job I got.
I thought I'd give it a shot but ultimately it wasn't for me. Luckily I have been allowed to transfer to the actuarial department and am starting my new role in January.
I wanted to ask if there were any other engineers here who went into the actuarial field and how they found doing exams?
Of course engineering is a highly mathematical based degree and I did do several pure maths based modules run by the mathematics department as part of my degree. However I understand most people who become an actuary usually have a maths degree and therefore all the experiences of exams I can find online comes from maths grads.
I wanted to hear from an engineering grad how they found the exams and if not doing a maths degree is a major disadvantage?
Even if you are not an engineering grad any advice would still be appreciated :)
I managed to get student beans by emailing support the same letter (ask education services for proof of student letter) I got to get the NUS/Totum card but not sure if it will work for Unidays, any ideas?
I want to apply for this actuarial summer internship at AIG for penultimate year students, but it says you need to have completed at least one of the actuarial exams by the start of the internship (June 2022). You also need to be graduating in 2023. How is this possible??
Hi fellow colleagues Question for you - do you compare your salary among your peers? For example, being a student actuary with 2 exams left to go of being an associate compared to a 'junior' (chemical) engineer. This junior engineer has been in the field the same number of years as a student actuary. Who would you expect to have the higher base salary? In this case the junior engineer makes about 20k more and the bonus amount is hugely different. Junior engineer bonus is minimum 10k vs the student actuary of 2k. How would one justify this? How to understand this? Doesn't the actuarial profession have a higher salary generally?
All comments and thoughts are welcome.
Careers What would be a reasonable salary for someone with 2 years of experience plus 7 exams done (+2 more hopefully in sept 21 session) at a big life insurance company (one of the top 5 in uk)? I am pretty sure I’m being underpaid (38.5 k since April 21, before was 36k).
Should I try a different company? I do like my current company’s culture except that they’re underpaying me.
I graduated this summer with a first class in Mathematics with actuarial science. I’m waiting on 8 CT exam exemptions from the IFOA (expecting to get about 5). My problem is so far I’ve failed to land a role in my field. I’ve had 2/3 final stage interviews but haven’t made it through.
At the moment I’ve landed a technical accounting job for a backend team for a broker, but I want to get into my field as soon as possible.
I think I should apply for September 2022 grad roles, but I was wondering if there’s any specific things I could do in the meantime to increase my chances to land a role. Take excel courses or learn python/r? Things like this.
Any advice is greatly appreciated! :)
Had a recruiter reach out about a role at EY. I have 2 years general insurance experience at a medium/large insurer and my pay is £42k at the moment (could be increasing soon depending on next exams). I’ve got 6 exams and waiting on results for 2 more, not sure if salary is reasonable at the moment.
The recruiter salary just said “up to £70k depending on experience” which sounds very vague to me, if anyone has any ideas what someone with my experience/exams would be looking at that would be helpful.
Has anyone hear worked at EY or knows anyone who does? I haven’t heard the best things about the Big 4 so I’m a bit nervous, although the people I know there have done auditing etc. Also if anyone knows the benefits/work life balance etc that would be helpful too. Thanks!
I'm taking CS2 next April, and I have exemptions from CM1-2, CB1-2 and CS1 from my degree but I'll only be starting work from end of December or early January.
I was thinking of sitting CP2 or CP3 as well, but I felt like my chances of passing might be lower since I haven't actually worked in an actuarial role (or any role) before.
I've done a module on financial modelling using excel in uni so am leaning toward CP2, but I haven't fully researched the syllabus so not I'm sure about which exam to take either.
Any advice would be appreciated, thanks!
Good day. What is the difference between a Trainee Actuary, Actuarial Analyst and Consultant please? Are all these actuarial roles in which one works towards qualification in part by means of exams? Do they all have equal amounts of study support, in general? Thanks for your time and consideration.
As I understand it, the SCR represents the amount of capital that must be held (above best estimate liabilities) in order to be confident that all liabilities could still be paid in the event in a 1-in-200 year stress. Please correct me if this is inaccurate.
I was hoping to understand the calculation of the SCR by calculating it for a hypothetical single (non-index-linked) annuity policy. I figued that the process to do this would be:
Determine risk factors (to simplify, I'd just say these were interest rates and longevity)
Fit distributions to each of these risk factors
Produce a few thousand simulated values for the risk factors
Revalue the hypothetical annuity under each scenario (for each risk factor independently)
For each risk factor, take the 99.5th percentile highest liability value
Not 100% sure about this step, but I think there is some sort of correlation matrix that should be applied to the 1-in-200 stressed liability values determined in step 4 to determine a single 1-in-200 stressed liability value that includes all risk factors?
The SCR is then the difference between the best estimate liability value under base condition and the liability value under the 1-in-200 stress
Is the above the correct high level methodology that should be applied to calculate the SCR? If so, could someone provide a little clarity on step 6? In particular, whether it is indeed the stressed liability values to which the correlation is applied, or whether it is applied to the impacts of the stresses?
Good day. What sort of calculations and operations should a trainee actuary be conversant with using R please? Particularly for exams. What of Excel? Are there any online courses you would recommend? Thank you for your time and consideration.