Hello everyone, I am newly employed in an insurance company and thinking of giving two papers in April 2025, cp1 and cp2. There is no proper study leave system in my company, since previously there was no proper actuarial roles defined. Now there is, they are open to giving study leave but sadly won't pay for any exams fees. I was wondering how should I ask for the study leave? Do you ask for study leave 2-3 weeks before exams or one day every week say 12 weeks before the exams? How does it work? What is the practice in your company? Appreciate your responses.

Hi! I just graduated High School and I’m really interested in pursuing a degree in Actuarial Studies at an accredited uni. I just wanted to ask abt the general pathway from uni —> career and abt the foundation/associate/fellow programs

1. Does the UNSW degree cover the entire foundation program set by the institute? and if so, do I still need to sit the foundation exam.

2. What is the progression like in terms of career growth and is it flexible to branch to other fields?

3. Generally how long to go from foundation/grad to associate then fellow and also how hard is it to balance work and the associate/fellow program.

4. Just some context, I took Extension 2 maths in NSW easily looking at a higher end E4. What is the difficulty like in terms of the maths and topics because all I hear from friends and family is that it is crazy.

Thank you so so much if you reply. I really appreciate it!

I am pursuing bachelor of actuarial studies, and can't decide what should I do from these options

1. changing my single degree to double degree by adding bachelor of commerce (major - finance ) ---- 4 yrs

2. doing double major by choosing a actuarial major and an optional business major(finance) --- 3 yrs

3. doing actuarial studies bachelor and the doing masters --- 5 yrs

Which will be the best option from different perspectives? What are the pros and cons of each and which is the most attaractive to employers out there

Hey everyone, I’m currently about to graduate highschool and have a pathway lined up to become an actuary.

Sorry if this is a stupid question but how easy is it to branch into other finance careers as an actuary once you reach a senior position. One of my mates mum is working in a sort of CFO position for an insurance company and apparently she was an actuary before this position, how common is this?

I understand it’s a very niche pathway but i’ll graduate with a bachelor in commerce and a major in finance, as well as a post grad that will give me the pre reqs for my exams.

Additionally this is probably an even worse question but what positions come after fellow, most research i’ve done don’t include much after this. So if you can’t branch or if you choose to stay within the actuarial field what senior positions and jobs will i be looking at, and if possible to answer how long does it take to reach those positions.

If possible to what salary expectations come with those senior positions, I understand that it varies between state.

I know that this is looking probably 20 ish years down the line and it’s all subject to change but it’s just something to consider as it’s a big commitment.

Any help would be appreciated. Thanks!!

Context about me - an international year 11 student living in perth. I looked into the actuary degree and you need to get 90+ atar and there are only few uni that offer it but im targeting either curtin since i already live in wa or bond uni because of cost of living that might be cheaper compared to Sydney or Melbourne.

Would love to hear some

• insight about this program
• job opportunities
• job growth
• expected salary

-pathway to permanent residency if possible

I am currently enrolled in a bachelors and masters double degree at Monash which gives me all foundation exemptions and half of the level 2 exemptions (assuming I get the required marks).

I am currently at the end of my second year of four, and at the end of next year I will have finished everything for the bachelors (and all level 1 exemptions), and have the option to either stay in the degree im already in and finish off the masters, or change into an honours year instead. THe honours year gives me the same level 2 exemptions in the same amount of time, Its just the content (apparently more technical) and type of degree that changes.

Is an honours year going to increase my chances of getting a graduate job? I've been told honours is the way to go if I want to persue academia or a PHD; but I dont think I want to go that direction, however id happily still do the more technical honours if it will help me get a job.

Any help/advice is appreciated

I'm qualified at Associate level through the institute and faculty of actuaries in the UK and have been considering a move to Australia around September next year. Looking to find out names of actuarial recruiters and whether most actuarial jobs are based in Sydney? Any general tips or advice would also be much appreciated :)

I am an English qualified actuary with 5 years total experience (2 years PQE). What salary would you expect for me for an actuarial role in Sydney?

I searched for junior actuarial analyst roles in Perth on seek.com.au and tried various related keywords, but found very few openings. I'm considering taking the IoFA Foundation exams, but relocating outside Perth isn’t an option for me. Do you think it’s worth pursuing? Are there significantly more graduates than available jobs in the field?

Hello, I am a current Actuarial Studies student at UNSW and want to know how exactly to better my odds at employment.

I currently have a credit WAM and will finish with about 2 exemptions due to some poor marks early on & electives that I chose not counting towards exemptions.

I have some experience with R and Python and have also delved into machine/deep learning models.

My question is how can I make myself more attractive to future employers?

Hi, I'm an aspiring actuary in India and currently focused on life and pension insurance. I'm curious about the new fields emerging in the insurance industry beyond these traditional areas.

1. What are the latest fields in insurance beyond life, pension, and general insurance?
2. Which career track (life, general, ERM, health, etc.) offers the best opportunities and salaries for actuaries in India?
3. What are the career prospects for Indian actuaries looking to work in Australia?

Hey guys,

I am applying to be an Associate of the Australian Actuaries Insititute. However, they don’t have mutual recognition for ASA. I am planning to take the Canadian Workshop then apply to become a member of the CIA. After that, I will apply to the AAI as a member of the CIA.

Has anyone tried this before? Am I insane to just think about it? Thanks in advance!

I'm not a huge extrovert, but I like mathematics and have observed that I'm better at hard skills like programming and mathematical knowlege rather than soft skills such as maybe networking or impressing customers, so on and so forth, leading me to consider actuary as a career option. Due to its high specialization and jobs which require certification, does an actuary career need lesser networking than, say, management consultancy, IB, PE, VC? Maybe similar to stat or other stem based careers?

For context, I really hated my work-life balance in allied health before starting my PhD, since starting my PhD I have concluded that I don't really care for being in a treatment position and I thoroughly enjoy the physics/statistics/coding side of my PhD. I have 12 months before my PhD is complete and I am looking into transitioning into a field that contains what I enjoy in my PhD. Before I begin to look at the IFoA entry requirements I thought it would be worthwile understanding if it would be something I would enjoy?

Im currently studying a Bachelor of science degree in UWA and Maths is my major. I'm looking to get into Actuarial science, I heard I would have to sit the FM and P exams is that actually the case or is the process different can anyone guide me please?

In Australia it seems to be quite typical for people to go to uni to complete the level 1 exams. For those that didn’t do this (undergrad irrelevant let’s say), what is the success rate of those sitting exams directly through the institute and getting entry level roles?

Must you complete all the level 1 exams before you start looking for jobs?

Good day,

Unfortunately, my Extension 1 maths rank has probibited me from joining the Extension 2 maths class (most likely).

Extension 2 is listed as “recommended studies” for Actuarial at UNSW

If I join Actuarial at UNSW without Extension 2 Mathematics, how difficult will I find the adjustment to university level maths? Will it be possible to succeed in Actuarial first year with only Extension 1 as a background? What if I go through an Extension 2 textbook the holidays before University?

Thank you

I am a penultimate year student, unfortunately I feel like I missed the application season. I am not sure where to look, and if any are still open.

Also Is it plausible for me to get an internship with a 60 WAM?

Hi everyone,

I am a recent graduate and have completed foundation program, as well as DSP and ACC from actuary program. I am seeking an actuarial role but the market is competitive and it's difficult to find one. I reached out to some actuaries, but most of them suggest joining graduate program. However, due to some personal circumstances, it is not the best option to me for now. I'm seeking entry level role as I have some experience as data analyst already, but it's still very limited.

Therefore, I would be greatly appreciate if someone can provide any advice. Thanks everyone!

Good Afternoon! These are the questions I am grasping ATM

1. How much more difficult do the mathematics and statistics get after completing the Part 1's

2. If for external factors, uni is difficult for me and I only pass 4/6 part I's, but I complete Part 1 and 2 in my own time can I still break into the insurance industry?

3. If I become AIAA or FIAA, is this recognised in european countries e.g Spain, Germany etc. And can I do my AIAA in australia and complete the FIAA while overseas?

Thanks in advance good people of r/ActuaryAustralia

Does anyone think that the pass rates now are too high and hence it's becoming too easy to qualify? While we students won't complain about high pass rates, I’m not sure if the high pass rates are going to affect the recognition of the qualification over time and/or cause oversupply of fellows.

Hello I am currently an Actuarial student and am actually leaning towards working in the data science field as I have taken a liking towards machine/deep learning and quantitative analysis and was wondering if anyone had any answers to some of my questions.

How does the work of a data analyst compare to an Actuarial analyst?

Is it a rewarding pathway? How does the pay range compare?

Is the data analyst job market saturated?

Hi everyone,

I’m planning to start Part 3 of the Actuary Institute of Australia next semester, focusing on General Insurance. However, I don’t have any experience in General Insurance yet, and I’m wondering if it’s better to go ahead with the exams or if I should wait until I secure a relevant job.

I’ve heard that completing Part 3 without experience might make it difficult to find a job, as I could be considered overqualified without the necessary practical exposure.

Would it be advisable to take the exams without experience, or is it more beneficial to wait until I have some relevant job experience?

I’d really appreciate your insights.

Thank you!

Hi, I'm moving to Australia from Ireland at the end of September. I have one year work experience as an Actuary and only two IFOA exams passed. I also have a finance degree. It would be great if I could get Actuary work but if not no problem I have work lined up in construction. I will still be doing my exams and was wondering if there was even any voluntary projects etc I could be apart off that will help me progress. Thanks

Hello everyone, I am doing my bachelors of actuarial science at Monash University and planning to do Masters of actuarial science. I wanted to ask after immediately graduating from Masters of actuarial science, how long does it take to become an actuary, and also how long it takes to become an associate actuary and a fellow actuary.

Hi all!

I’m a Commerce (Major in Actuarial) student from Melbourne and I’m wondering whether it is worth applying for graduate roles as I am in my final semester.

I’ve currently got 3 exemptions (CS2, CB2 and CB1) and I’m on track currently to get CM1, CM2 and CS1 at the end of this semester. I’ve got almost 3 years experience working in banking and also some club extra curricular experience but I’ve been getting rejected from every company.

My WAM is distinction level, but because I failed a unit in first year and withdrew from another early on in my degree, the transcript doesn’t look too pretty. I also think having too much work experience in financial services (from a student POV) almost disqualifies me from a graduate role. To add to this, I started in 2020 and I’ve underloaded/taken gap semesters which has meant a 3 year degree has taken almost 4.5 years.

I’m wondering if anyone has any success stories of landing a job after getting no graduate offers in their final year? Do you think it is worth applying for these highly competitive programs?

Thanks guys.

Hi, I am looking to move to Australia from the UK with 3 years of experience in Life Insurance and almost qualified my UK IFoA exams. I have two questions I could use some help on:

Are all the actuarial jobs based in Sydney and expected to be in the office often?

And would jobs likely allow me to sit my last UK exams and accept this as being fully qualified to an Australian standard?

Thanks!

Hello everyone, I'm a 4th year Actuarial student at UNSW , with expected graduation date in December 2024. I have recently landed a grad role at a large GI company starting February 2025. It's a few months away, and I'm wondering if there are anything I can/should do to prepare? (Like, brushing up on knowledge from part 1 subjects, learning more R, Excel and such). I don't want to show up on my first day of work being clueless and basically a burden to my future managers / supervisors. I know it's hard to avoid being a burden in the first few months, but I would at least want to put my best foot forward! Any tips would be appreciated. Even if you don't have any advice, I would still love to hear you share about your first Actuarial job 😄

I am an Actuarial student at UNSW and I am going to end up graduating with absolutely zero exemptions due to some low marks, essentially wasting my time. I do a double degree and have mostly credits, passes, 2 fails and 2 distinctions.

I understand its not an ideal situation and I keep reading all these posts about how much harder it is to pass institute exams and how they have 20-30% pass rates.

I've been reading and everything I seem to come across pertaining to my situation paints a really negative image. I keep hearing about how competitive the EL job environment is and I hear about students with much better transcripts getting cut on internships making me wonder if I am going to stand a chance.

So my question is, for those who have been through the system, what should I expect going forward, having 0 exemptions and IMO a sub par transcript?

Hi all, I currently a Secondary School Mathematics teachers looking to transition out of the profession and into yours.

I'm very interested in the actuarial pathway and am intending to complete the CS1 exam this Sep and another 1-2 exams in Apr. Fingers crossed that next year will be my final year as a teacher.

I have a couple questions as it seems a these two points come up in a majority of the threads in actuarial subreddits. 1. Salary and 2. "You should go into Data Science/Analytics instead".

1. Is the starting salary of an actual with 1-2 exams passed really approx. 90k in Australia?

I ask because the salary's of a Teacher in Victoria (where I am) ranges between 80K (A graduate in a public school) to 130k (10+ YOE in a private school). Currently, I am a 5 years into teaching an earn 106k as a Mathematics Subject Leader (which has provided 3 years of experience leading 10-15 other teachers) and would like to know the pay cut I would expect to see into the first few years of moving.

2. Do many actuaries worry about what could have been had they originally chose Data Science/Analytics? Would many actuaries recommend that pathway instead?

The lack of exams the comparable salaries and work life balance make for good conservation. But from my experiences in work places, I wouldn't be surprised if this is people being people and just having mentality of thinking the grass is greener elsewhere.

Many thanks to all responses :)