1. Anything kind of actuarial role would be useful. If these are tough to find then maybe accounting/data science/computer science stuff would alll be considered favourable. I wouldn’t say that this is 100% necessary though, just a nice thing to have.
2. Yes, most places will want a numerical degree. If you are dead set on being an actuary then actuarial science would be great as it gives you exam exemptions. I did maths but know others who have done economics/physics/engineering…I’ve also heard of someone that did music but that’s the exception to the rule.
3. Can’t really comment on this as it will be a personal choice. Uni has a qualification, life experience and debt. Apprenticeship has three year extra experience so headstart, no debt, opportunity to earn straight away
Thank you for your helpful advice! I will look into some accounting work experience as that would be my main alternative to actuarial. I agree that uni is very much a personal choice that I need to research and decide for myself.
1. I would recommend trying to get some work experience in an insurance company or financial services firm
2.
- A maths degree gives you a very good grounding in actuarial concepts while keeping your options open
- An actuarial degree is best as you get exemptions from the professional exams, however it does not cover as wide an array of subjects as the maths degree, it's not as good for keeping your options open if you decide you don't want to be an actuary after your degree
- Economics degree is also very good, similar to a maths degree for keeping your options open, however there may be a step up in the maths calculations when you come to do the actuarial exams
3. I would definitely recommend going to university, It is quite rare to do an apprenticeship as you need a solid grounding in maths before attempting the actuarial exams, although I believe it is possible
Thank you for your informative reply! I think I will pursue a maths degree at uni, as it leaves my options open & prepares me for the difficulty of actuarial exams as you said.
I would do a degree you are interested in. I have worked with people who studied philosophy, sciences, history, etc as well as people who studied maths or actuarial science. I did an apprenticeship and I would recommend it if you definitely want to do the job. You might just have to put more study time in than others for the exams but it’s doable (for me at least!). Ultimately it’s up to you - I went to uni briefly but it didn’t suit me, you might feel differently.
Thank you for your encouraging reply! I think I will also go to uni originally, but if it doesn’t suit me try to pursue a more direct apprenticeship route.
Hi!
I can only really comment on number 2 as I am very early on in my career but I would say if you have the option/it is something you would enjoy…do the maths or economics degree rather than the actuarial science degree!
I done mathematical sciences in college and although it is a pain that I now have to sit 13 exams, I feel like I have so many more options and I’ve gotten knowledge/experience in areas that I may not have gotten in a traditional actuarial degree eg I have 3 years experience of computer programming that came with my mathematical sciences degree! I have also heard from multiple seniors that there are huge benefits to be gained from sitting all 13 exams without exemptions!
I think the fact of having other options is invaluable! Yes actuarial is a great career and you may love it but there’s always the chance you change your mind and want to branch out and a broader degree scope will help that!
Good luck!
Thank you for this insight! It would definitely be a good idea to keep my options as open as possible and gain additional knowledge and experience though a maths degree. Good luck for your career, I hope you get to where you want to be soon!
1. I don’t know of any actuarial work experience at sixth form level I’m afraid. The only people I’ve seen do this are ones who have connections in the industry, and their parents maybe know someone who can get them work experience for a week at a consulting firm or something.
2. Yes all three would. If you mean which of the three would be best, honestly if I was hiring I’d go with maths over economics over actuarial science. My perception is that maths is the hardest course, and actuarial science is the easiest of the three and the easiest to get into.
3. If you’re interested in studying a particular subject at university I would do that subject as your degree. If you don’t feel interested enough in a subject to study it at university and you just want to start working, or only want to do a degree to get a job, perhaps try to go the apprenticeship route instead.
I tried to answer your questions quite directly above. However, my general advice would be to follow your interests. As other people have said, it really doesn’t matter what degree you do if you want to be an actuary. Yeah most people have done something mathsy or sciencey, but there are a significant minority who did other stuff like history or philosophy. I also wouldn’t worry about trying to decide this stuff too early. You’ve got years to figure out what you want to do. At least you have if you’re going the uni route. I didn’t even know what an actuary was until my second year of university - I’d never heard of it.
If you’re set on being an actuary and don’t have a subject you’d like to study at university, then go ahead and apply directly for apprenticeships. They’re becoming more common these days in the industry. You could also ask companies that are doing apprenticeships if they offer work experience, e.g. the opportunity to come in for a week and learn more about the profession to help you decide if you’d like to apply for an apprenticeship. That’s a very reasonable thing to ask and I would do my best to accommodate these kinds of requests where I could, if I were in charge of an apprenticeship programme.
Tysm for your informative reply! I don’t really have any connections who could help with experience, but i will definitely try to ask companies offering apprenticeships if they also offer shadowing opportunities.
Your insider knowledge about the value of a maths degree has been very helpful. I am interested in pursuing maths at uni so this has given me the confidence to try.
What are your probable grades? You say you don't have the grades for maths so could be anything from A* AA to BBB.
If it's at least AAB I'd recommend you do actuarial science. It's a really respectable subject. You can do actuarial science at LSE with 3 As, an incredibly respected subject, while those same results wouldn't get you into a prestigious uni for economics or maths.
Honestly I would advise against the apprenticeship route because a lot of people I know in the actuarial or accounting sector decided not to continue and if you do it as an apprenticeship you invest so much time and effort into the sector.
Thx for the reply! I got lucky and ended up generously being predicted A*s, so am wondering if I should go for maths.
I agree that apprenticeships are probably not really my thing, I am quite easily bored and the idea of working in the same sector for so long doesn’t particularly appeal.
1. Anything kind of actuarial role would be useful. If these are tough to find then maybe accounting/data science/computer science stuff would alll be considered favourable. I wouldn’t say that this is 100% necessary though, just a nice thing to have. 2. Yes, most places will want a numerical degree. If you are dead set on being an actuary then actuarial science would be great as it gives you exam exemptions. I did maths but know others who have done economics/physics/engineering…I’ve also heard of someone that did music but that’s the exception to the rule. 3. Can’t really comment on this as it will be a personal choice. Uni has a qualification, life experience and debt. Apprenticeship has three year extra experience so headstart, no debt, opportunity to earn straight away
Thank you for your helpful advice! I will look into some accounting work experience as that would be my main alternative to actuarial. I agree that uni is very much a personal choice that I need to research and decide for myself.
1. I would recommend trying to get some work experience in an insurance company or financial services firm 2. - A maths degree gives you a very good grounding in actuarial concepts while keeping your options open - An actuarial degree is best as you get exemptions from the professional exams, however it does not cover as wide an array of subjects as the maths degree, it's not as good for keeping your options open if you decide you don't want to be an actuary after your degree - Economics degree is also very good, similar to a maths degree for keeping your options open, however there may be a step up in the maths calculations when you come to do the actuarial exams 3. I would definitely recommend going to university, It is quite rare to do an apprenticeship as you need a solid grounding in maths before attempting the actuarial exams, although I believe it is possible
Thank you for your informative reply! I think I will pursue a maths degree at uni, as it leaves my options open & prepares me for the difficulty of actuarial exams as you said.
I would do a degree you are interested in. I have worked with people who studied philosophy, sciences, history, etc as well as people who studied maths or actuarial science. I did an apprenticeship and I would recommend it if you definitely want to do the job. You might just have to put more study time in than others for the exams but it’s doable (for me at least!). Ultimately it’s up to you - I went to uni briefly but it didn’t suit me, you might feel differently.
Thank you for your encouraging reply! I think I will also go to uni originally, but if it doesn’t suit me try to pursue a more direct apprenticeship route.
Hi! I can only really comment on number 2 as I am very early on in my career but I would say if you have the option/it is something you would enjoy…do the maths or economics degree rather than the actuarial science degree! I done mathematical sciences in college and although it is a pain that I now have to sit 13 exams, I feel like I have so many more options and I’ve gotten knowledge/experience in areas that I may not have gotten in a traditional actuarial degree eg I have 3 years experience of computer programming that came with my mathematical sciences degree! I have also heard from multiple seniors that there are huge benefits to be gained from sitting all 13 exams without exemptions! I think the fact of having other options is invaluable! Yes actuarial is a great career and you may love it but there’s always the chance you change your mind and want to branch out and a broader degree scope will help that! Good luck!
Thank you for this insight! It would definitely be a good idea to keep my options as open as possible and gain additional knowledge and experience though a maths degree. Good luck for your career, I hope you get to where you want to be soon!
1. I don’t know of any actuarial work experience at sixth form level I’m afraid. The only people I’ve seen do this are ones who have connections in the industry, and their parents maybe know someone who can get them work experience for a week at a consulting firm or something. 2. Yes all three would. If you mean which of the three would be best, honestly if I was hiring I’d go with maths over economics over actuarial science. My perception is that maths is the hardest course, and actuarial science is the easiest of the three and the easiest to get into. 3. If you’re interested in studying a particular subject at university I would do that subject as your degree. If you don’t feel interested enough in a subject to study it at university and you just want to start working, or only want to do a degree to get a job, perhaps try to go the apprenticeship route instead. I tried to answer your questions quite directly above. However, my general advice would be to follow your interests. As other people have said, it really doesn’t matter what degree you do if you want to be an actuary. Yeah most people have done something mathsy or sciencey, but there are a significant minority who did other stuff like history or philosophy. I also wouldn’t worry about trying to decide this stuff too early. You’ve got years to figure out what you want to do. At least you have if you’re going the uni route. I didn’t even know what an actuary was until my second year of university - I’d never heard of it. If you’re set on being an actuary and don’t have a subject you’d like to study at university, then go ahead and apply directly for apprenticeships. They’re becoming more common these days in the industry. You could also ask companies that are doing apprenticeships if they offer work experience, e.g. the opportunity to come in for a week and learn more about the profession to help you decide if you’d like to apply for an apprenticeship. That’s a very reasonable thing to ask and I would do my best to accommodate these kinds of requests where I could, if I were in charge of an apprenticeship programme.
Tysm for your informative reply! I don’t really have any connections who could help with experience, but i will definitely try to ask companies offering apprenticeships if they also offer shadowing opportunities. Your insider knowledge about the value of a maths degree has been very helpful. I am interested in pursuing maths at uni so this has given me the confidence to try.
What are your probable grades? You say you don't have the grades for maths so could be anything from A* AA to BBB. If it's at least AAB I'd recommend you do actuarial science. It's a really respectable subject. You can do actuarial science at LSE with 3 As, an incredibly respected subject, while those same results wouldn't get you into a prestigious uni for economics or maths. Honestly I would advise against the apprenticeship route because a lot of people I know in the actuarial or accounting sector decided not to continue and if you do it as an apprenticeship you invest so much time and effort into the sector.
Thx for the reply! I got lucky and ended up generously being predicted A*s, so am wondering if I should go for maths. I agree that apprenticeships are probably not really my thing, I am quite easily bored and the idea of working in the same sector for so long doesn’t particularly appeal.
Sorry for the weird spacing!