There are a few ways to qualify as an actuary. This page will explain the different qualification routes and who may suit them.
Qualification route one
This is the most common route to qualification. You will have met the entry requirements needed to become an actuary and you will be in your final year of university. At this stage, you will be looking to apply for a graduate actuarial trainee position. Most employers will look for students with an A or B at A Level maths, and a 2:1 or higher in your degree. You will need to apply for roles before October or November when most employers' deadlines will be over. They will ask you for a series of interviews and assessment centres to see how well you will fit within the company as well as finding out whether you would be suited for the role. They will test your mathematical knowledge, logic and analytical skills.
Once you have secured a role, you will spend time with your allocated study mentor working through the 15 exams and 3 years worth of work based skills you need to qualify. Most employers will give you one day off a week to study, and will fund your exams and provide you with a salary.
Most students will qualify between 3 and 6 years.
You can find out more about what you can earn here.
Qualification route two
By attending a university that we have exemption or accredited agreements in, you may be eligible for exemptions from some of the exams. The list of universities will provide you with details of courses that you can take which will give you exemptions from a number of specific exams. If you do not attend one of these specific universities you may still be eligible to apply for exemptions dependent on the scope and standard of the subjects covered by the university examinations taken and on the performance you have achieved.
You must be a member of the Profession before you can gain any of the exemptions.
For further details on exemptions please look at our exemption pages.
Qualification route three
This route is for those who are coming into the Profession later on in their career or for those who have failed to meet the entry requirements.
What if you haven't met the entry requirements?
If you have failed to meet the entry requirements to get into the Profession then you can take the Certificate in Financial Mathematics (CT1) which, if you passed it, would make you eligible to enter into the Profession. This exam is also a useful tool to give you insight into our exam system, it shows an employer you are keen and also that you are a good investment as you can take and pass the exams independently.
However, it is important to note, that although it will allow you to enter into the Profession and take our exams, it does not exempt you from employer's entry requirements. If you do not meet the entry requirements then you will need to speak to employer's to understand if, by taking this exam you can be exempt from their entry requirements or whether they would suggest anything else for you. For details of employers who may be able to give you some advice on gaining employment, see the Directory of Actuarial Employers.
Are you a career changer?
By taking CT1 or even a couple of our exams, it would show an employer that even at a later stage you would be a good investment and again, it will allow you insight into our exam system. There is no age limit to entering into the Profession or into employment. Your previous experience will be of benefit to you in the work place, as you may have experience working in a team, managing, communication to a wide range of audiences and perhaps even studying for other exams after university. However, employers will usually start you at the same stage as graduates fresh out of university, even if you have a few exams under your belt.