It's essential that you have excellent mathematical skills
Most actuaries start their training after they graduate by joining an actuarial firm as a trainee. Being in an actuarial job will develop your skills which will help you with your exams.
Most UK actuarial employers will be looking for trainees with a good degree (2:1 or above)
Employers favour candidates with degrees in a numerate subject such as mathematics, statistics, economics, engineering, chemistry, physics or actuarial science. We have compiled a list of mathematical subjects which you should have an understanding of in order to qualify as an actuary. (You will study these subjects in your degree, and/or whilst working as an actuarial student.)
The minimum requirements for admission as a student member of the IFoA are:
|Qualification||Key subject||Minimum grade||Other|
|A-Levels (England)||Mathematics||B||Plus a second A-level in any subject at grade C|
|Scottish National Qualifications Authority Higher||Mathematics||A||Plus two further passes in any subjects at grade C|
|Irish Leaving Certificate||Mathematics||A||Plus four further passes in any subjects at grade C|
|Certified Actuarial Analyst (CAA)||CAA is a professional qualification provided by the IFoA||NA||Once qualified as a CAA you can go on to become a qualified actuary|
|IFoA||Financial Mathematics (CT1)||Pass||You can take CT1 as a non-member|
Other international qualifications must be equivalent to the above.
- If you have a second class honours degree or above in a non-mathematical subject, the mathematics A-level requirement is reduced to a grade C.
- If you have a third class honours degree or above in a mathematical or actuarial science degree, the mathematics A-level requirement is dropped.
Apply to become a student member of the IFoA
Download the Application form for Student membership
Can I study to become an actuary if I don’t meet the entry requirements?
If you do not have the qualifications outlined above you can still become a student member of the IFoA if you sit and pass the CT1 (Certificate in Financial Mathematics) exam as a non-member. Studying for and sitting CT1 will give you some insight into the complexity of the actuarial exams and help you decide if an actuarial career will be attainable for you.
However, before you take the exam, you should bear in mind that competition for jobs with actuarial employers is fierce; it may be advisable to contact some employers first to discuss whether passing CT1 will meet their entry requirements.
Taking the CT1 exam is also a useful option for anyone thinking of transferring into the actuarial profession from another career
Find out more about Subject CT1 Financial Mathematics
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