You are here

Careers FAQs

  • What qualifications do I need to become an actuary?

    Most employers are looking for graduates with at least a 2.1 degree and excellent A-levels or equivalent.

    The minimum requirements for admission as a student of the Institute and Faculty of Actuaries (IFoA) are:

    • Maths A-level (or equivalent) at grade B, together with a second A-level (or equivalent) in any subject at grade C, or
    • three Scottish National Qualifications Authority Higher passes, one of which must be in mathematics at grade A, or
    • the Irish Leaving Certificate in at least five subjects; one of the passes must be in mathematics at grade A,
    • or
    • other qualifications which are considered to be equivalent to the above

    For holders of a second class honours degree or above in a non-mathematical subject, the maths A-level requirement is reduced to a grade C

    For holders of a third class honours or above in a mathematical or actuarial science degree, the maths A-level requirement is dropped.

  • What if I don’t meet the entry requirements?

    There is the option to take some exams as a non-member which will give you the option to see if the maths skills and experience you have is enough to take our exams. If you do take and pass the exam, then you will be eligible to become a member of the profession. However, there are a few things to note before you consider this option:

    • most employers look for students with a minimum 2:1 in a numerate degree and A level maths
    • you will be up against students with 1st or 2nd class numerate degrees who will be exempt from several of the IFoA’s exams
    • each company, especially in the recession, will have raised their entry requirements in order to facilitate the huge number of applicants for each position; if you do not meet the basic requirements it may put you at a disadvantage
    • if you speak to an employer and explain that you have/or are thinking of gaining entry to the profession, this may exempt you from some of their entry requirements. However, please note that this cannot be guaranteed: each company will have its own specific entry requirements.  Employers details can be found in the Directory of Employers.
  • How do I choose my university course?

    Most employers prefer candidates with a numerate degree from a university department with a strong reputation. A numerate degree may also lead to exemptions from some of the profession's exams. Actuarial science degrees, in particular, are likely to carry exemptions.

    You could look at the University League Tables for further information on how the universities you are interested in are rated.

  • Will I benefit from studying a degree in actuarial science?

    Several universities offer undergraduate degrees in actuarial science, which offer exemptions from some or all of the Core Principle subjects examinations.

    The advantages of studying for an actuarial science degree are:

    • it gives you the opportunity to find out more about actuarial work before accepting an actuarial trainee role with an employer
    • if you achieve a sufficiently high standard in the appropriate university exams, then you will be recommended for exemption from the corresponding professional exams
    • if you have an actuarial degree you should be able to qualify more quickly than if you take a course which gives fewer exemptions
    • a higher number of exam passes or exemptions may mean that you receive a higher salary (probably staggered and dependent on future exam success)
    • a degree in actuarial science is an excellent grounding in subjects like economics, finance, mathematics, and statistics, as well as the actuarial subjects. This makes actuarial graduates suitable for a range of careers, not just actuarial work.
  • Will I be at a disadvantage if I am not doing an actuarial science degree?

    There are benefits to studying alternative degrees:

    • non-actuarial degrees enable students to study a greater range of subjects
    • non-actuarial degrees may still lead to exemption from some of the Core Principle subjects
    • some employers are less enthusiastic than others about employing actuarial science graduates, so you may wish to seek the views of your favoured employers
    • experience in the office is at least as important as exam passes. Actuarial graduates should not assume that they will necessarily be paid more than other graduates.
  • What about post-graduate degrees?

    Some post-graduate degrees offer exemptions from Core Principle subjects or Specialist Principles.  These have similar advantages to the actuarial science degrees noted above.

  • What exemptions from the professional examinations will I obtain?

    Some undergraduate and postgraduate degrees offer exemptions from all eight of the Core Principle subjects. Some post-graduate degrees offer exemptions from some examinations  and Specialist Principles.  Visit the University courses with exemptions page to find out more.

  • What happens in a graduate placement?

    Once you have obtained a placement within a firm, you will be able to start to work your way through the exams, eventually gaining the necessary work experience for you to qualify as a Fellow of the IFoA.

    Typically employers give you one day off a week to study, although this is at the discretion of each individual employer. You will be given a study mentor who will be able to support you through the exams. Your salary will normally increase when you pass exams and take on more work and responsibility.

  • How long does it take to qualify?

    In order to qualify as an Associate or Fellow, students must pass a number of examinations and complete a satisfactory period of work experience. The time to qualification will depend upon an individual's progress through the examinations, any exemptions obtained and completion of work experience. To qualify as a Fellow takes, on average, 6-7 years.

  • Will I need to continue training once I have qualified?

    Yes, actuaries are required to maintain their competence once qualified through continuing professional development (CPD).

Contact Details

You can contact the Careers team at:

careers@actuaries.org.uk

Institute and Faculty of Actuaries, 7th Floor Holborn Gate, 326-330 High Holborn, London WC1V 7PP

We aim to respond to all enquiries within five working days.

Filter or search events

Start date
E.g., 27/01/2020
End date
E.g., 27/01/2020

Events calendar

  • KSS event in Glasgow: Public Sector Pensions

    Hymans Robertson, Glasgow 20 Waterloo St, Glasgow
    30 January 2020

    Spaces available

    – the unappreciated key assumption, the resulting unsustainable promises, the unmanaged risk and the unrecognised debt? 

    Speaker: Allan Martin will present this talk on 30 January in Glasgow, Stirling and Edinburgh. If you wish to register for another location please return to the Events Calendar.

  • KSS event in Stirling: Public Sector Pensions

    M&G Prudential, Stirling Craigforth Campus, Stirling
    30 January 2020

    Spaces available

    – the unappreciated key assumption, the resulting unsustainable promises, the unmanaged risk and the unrecognised debt? 

    Speaker: Allan Martin will present this talk on 30 January in Glasgow, Stirling and Edinburgh. If you wish to register for another location please return to the Events Calendar.

  • KSS event in Edinburgh: Public Sector Pensions

    Hymans Robertson 1, Exchange Place, Semple St, Edinburgh
    30 January 2020

    Spaces available

    – the unappreciated key assumption, the resulting unsustainable promises, the unmanaged risk and the unrecognised debt? 

    Speaker: Allan Martin will present this talk on 30 January in Glasgow, Stirling and Edinburgh. If you wish to register for another location please return to the Events Calendar.

  • The Great Risk Transfer – Breakfast briefing and launch event

    Staple Inn Hall, High Holborn London WC1V 7QJ
    31 January 2020

    Fully booked.

     

    Launch of the IFoA’s 2020 thought leadership campaign The Great Risk Transfer. The campaign will examine the trend of the transfer of risk from institutions to individuals, and how people can be better equipped to manage the financial risks they now face. At this breakfast event the IFoA will launch a call for evidence on this topic.

  • Joint IFoA and SOAT Professional Skills Training event - Bangkok

    Thai Life Insurance PCL, 13th Floor, Meeting Room 13/2, 123 Ratchadaphisek Road, Din Daeng, Bangkok 10400, Thailand  
    7 February 2020

    Spaces available

    This session is jointly organised by the Institute and Faculty of Actuaries (IFoA) and the Society of Actuaries of Thailand (SOAT).

    Video case studies will be selected from the IFoA’s 2019/2020 online content which covers a range of topics under an overarching theme of “A Trusted Profession”. This session is suitable for actuaries working in any area (i.e. it is not specifically aimed at Life, GI or any other technical discipline) and is interactive, so you should come along prepared to take part in the discussions.

     

  • Cyber Risk Event

    Staple Inn Hall, High Holborn, London, WC1V 7QJ
    10 February 2020

    Spaces available

    What do good cyber practices look like and, to what extent, can we as an industry implement these operationally and recognise these for underwriting?

  • KSS event: Where now for pensions?

    Royal London Group, 1 Thistle Street, Edinburgh, EH2 1DG
    18 February 2020

    Spaces available

    With a single party government at Westminster holding a comfortable majority, and with the first phase of Brexit complete, the potential for radical reforms of the pensions landscape is increased. 

    Former Pensions Minister Steve Webb discusses what changes we can expect to see in pensions including in state pensions, pension tax relief, automatic enrolment and the workplace pension landscape.

  • Sessional: Impact of E-cigarettes Working Party

    Royal College of Physicians, 9 Queen St, Edinburgh EH2 1JQ
    24 February 2020

    Spaces available

    This sessional meeting will be of direct interest to actuaries and others working in the in the Health and Care, Life or Pensions sectors or indeed actuaries with an interest in morbidity or mortality. Note: Registration is from 17.30 in time for the sessional to begin at 18.00.

  • Spaces available

    Investors globally are embracing ESG but what does this involve and can ESG be measured? Louise Dudley, Global Equity Portfolio Manager at Hermes Investment Management will outline the taxonomy often used when talking about ESG (exclusion, screening, engagement, sustainable, impact, responsible investing), talk about the importance of stewardship and engagement, and showcase evidence to the question as to whether ESG adds va

  • KSS event: How is Scotland’s population changing and what are the implications?

    New Register House, 3 West Register Street, Edinburgh
    5 March 2020

    Spaces available

    The National Records of Scotland (NRS) collects, preserves and produces information about Scotland's people and history to inform current and future generations - work that underpins the fabric of Scottish society and tells the story of our nation. This KSS talk will explore the following and other areas impacting Scotland’s changing population, and assess the potential implications of the changes:

  • Highlights of the Life Conference 2019 - London

    America Square Conference Centre, 17, One Crosswall, America Square, London EC3N 2LB  
    11 March 2020

    Spaces available

    This event will cover the highlights from last year's Life Conference 2019 held in Dublin. The Conference Committee has reviewed session feedback and has put together a high-quality technical programme featuring the best-reviewed sessions from the conference. Book now to ensure your place.

  • Board agenda: Why Responsible Investing, ESG, and Climate Change matters to Pension Funds, Companies

    Staple Inn, 4 High Holborn, Holborn, London. WC1V 6DR, UK
    19 March 2020

    Spaces available

    Recent years have seen ESG, Climate Change, and Responsible Investing thrust onto the corporate agenda in every boardroom. The same also be said for pension funds. Expectations of how companies should respond are high and NEDs on Boards are expected to adapt and adjust their guidance to companies accordingly. What does this mean for Actuaries serving as NEDs and Trustees?

  • KSS event: A Cashless Society- Benefits, Risks, Issues and Developments

    Deloitte, 4th Floor, Saltire Court, 20 Castle Terrace
    19 March 2020

    Spaces available

    Speaker: Iain Collier, Chair of the CSWP

    The talk will look to cover the following: Progression towards a Cashless Society • Developments home and overseas • Benefits, Risks and Issues • Crypto Currencies and Central Bank Digital Currencies.

    There will be an extended Q&A session at the end of the event.

  • Spaces available

    What are the advantages of using artificial intelligence (AI) in investing? What are the differences between traditional quant and AI? This new webinar, part of a series of four webinars leading to the annual Finance & Investment Conference 2020, discusses challenges and the future of AI in the investment sector.

    We will look at:

  • Spring Lecture 2020, Edinburgh - Vicky Pryce

    Assembly Rooms, 54 George St, Edinburgh EH2 2LR
    25 March 2020

    Spaces available

    The Brexit Budget: What next for the UK economy? Please join us for our annual Spring Lecture presented by Vicky Pryce in Edinburgh. Vicky is Chief Economic Adviser and a board member at the Centre for Economics and Business Research (CEBR).

  • Spring Lecture 2020: Live Streaming at Staple Inn - Vicky Pryce

    Staple Inn Hall, High Holborn, London, WC1 V 7QJ
    25 March 2020

    Spaces available

    This event will be live streamed from Edinburgh. 

    The Brexit Budget: What next for the UK economy? Please join us for our annual Spring Lecture presented by Vicky Pryce in Edinburgh. Vicky is Chief Economic Adviser and a board member at the Centre for Economics and Business Research (CEBR).

  • Spring Lecture 2020: Live Streaming

    Webinar
    25 March 2020

    Spaces available

    What next in Economic Policy? Please join us on 25 March 2020 for the live stream of our annual Spring Lecture presented by Vicky Pryce in Edinburgh. Vicky is Chief Economic Adviser and a board member at the Centre for Economics and Business Research (CEBR).

  • SIAS Event: CMI Update

    Staple Inn Hall, High Holborn, London, WC1V 7QJ
    1 April 2020

    Spaces available

    Following the release of the updated CMI Mortality Projection Model, CMI_2019, the CMI Mortality Projections Committee will lead a discussion on future mortality improvements.

  • Finance and Investment Conference 2020

    Royal College of Physicians, 11 St Andrews Pl, London NW1 4LE
    05-05 May 2020
    Spaces available

    Join us at this year’s Finance and Investment Conference in London that will focus on ESG. The environmental, social and governance (ESG) space is growing rapidly and increasingly moving centre stage. In many cases, it is now an essential part of policy and central to the way stakeholders make decisions for the long term to ensure retention of clients, manage risk better, and ensure more economically efficient and sustainable investment returns.

    ESG factors cover a wide range of areas reflecting how vital consideration of these factors are part of wider systemic risks.

  • Protection, Health and Care Conference 2020

    The Grand Brighton, 97-99 Kings Rd, Brighton BN1 2FW
    02-03 June 2020
    Spaces available

    The Protection, Health and Care Conference is an annual conference aimed at all insurance professionals with a passion for harnessing insurance risk in their organisations. The conference uses a combination of workshops by individuals who work at the coalface and ‘big name’ experts to explore how innovation, technological/medical advances, the political landscape and other market development will impact the Protection, Health and Care markets.

     

  • IFoA Asia Conference 2020, Kuala Lumpur

    CCEC Nexus, 7, Jalan Kerinchi, Bangsar South, 59200 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia
    24-25 June 2020
    Spaces available

    Join us at the IFoA Asia Conference 2020 at CCEC Nexus, Kuala Lumpur where intellectual thought leaders, senior industry players, opinion formers, academics, actuaries and non-actuaries from across Asia and beyond are expected to attend. This year's landmark conference promises to an exciting one as our first Asian President-elect, Tan Suee Chieh will, as newly appointed president of the IFoA, use his presidential address to highlight the two key pillars of the IFoA’s emerging strategy:

    • the reinvention of the profession in terms of its skillsets and mind-sets so that we can thrive in an increasing range of domains in a digital age;
    • the widening application of actuarial science in achieving social impact and sustainability goals.

    We are also delighted to announce that the Honourable Mr. Lim Guan Eng, Minister of Finance, Malaysia, will be the guest of honour at this year's conference.

    Early bird registration is now open until 1 March.  10% group discounts are offered to a minimum of six IFoA members booking in a single transaction.  Limited spaces are available, so please sign-up early to avoid disappointment.