How to become an Actuary

Determining one’s personal career is indeed the most crucial decisions that you have to do in your life. You need to carefully choose which career would best suit you since your future relies on it. Now, choosing which profession you want to pursue is relatively easy. All you have to do is to determine your strong point and look for a job related to it. If in case you are good at mathematics and you think that you can pass with confidence those biannual examinations that you have to take for a decade, a career as an actuary is perhaps the most suited profession for you.

Actuary
Actuary

Actuary Main Work

The main work of an actuary is to assess past and present insurance statistics in order to clearly estimate future financial risks. Based on their computation, they will analyze insurance premium rates as well as amend policies to keep companies cost-effective and competitive as ever.

How to Become One?

But how can you really become an actuary? What are those steps that you need to take? First and foremost, it would be best to start building your career as early as high school. It is highly sensible to take up courses in mathematics as well as advanced placement courses. Also, you can seek the help of your friend and acquaintances to help you determine the colleges with the best mathematics programs. Taking up mathematic lessons and courses will help you prepare yourself in the near future as it molds your mathematic skill to the best achievable level.

When you enter college, you can take up bachelor’s degree in mathematics, statistics, economics, actuarial science, accounting or finance. You should as well take up liberal art courses to sharpen your communication and interpersonal skills. Obtain high grade as much as possible for added credential.

Actuarial Exams

Also, condition yourself that you need to take up numerous biannual actuarial exams which can last up to 10 years. To condition one self means that you should equipped mentally with the much needed determination so you won’t have to quit in the middle of the road towards your dream. You can also do independent study by researching about the actuary test online or you can ask an actuary to give you some helpful insights about it. Taking up few seminars is also vital.

Take 2 Exams Before Graduate

To broaden your slim chance of being hired, it is best to take up at least two exams before you graduate. Basically, the first few exams do not entail you to have an actuarial specialty. Once you pass the test, start applying for a job. Your first job can likely be a lengthy internship intended to familiarize you with a variety of operations in an insurance company. This will help you as well as the company decide what your specialty is. Do not stop after you landed your desired job; religiously study the course because after all, learning should never stop as you age. If you want to become the best actuary possible then continue to scan the book and take up seminars.