actuarial science career prospects in india

Actuarial Science Career Prospects In India

Actuaries help to manage risk by helping organizations plan for the future and protect themselves from loss. Actuaries are experts in evaluating the likelihood of future events, designing creative ways to reduce the likelihood of undesirable events and decreasing the impact of undesirable events that do occur. Actuaries are basically involved in application of mathematical and statistical strategies to Banks, Insurance companies, consultancy firms and in industry- nationally and internationally. Actuarial Science Video Lectures, Actuarial Science Classes, Actuarial Science Online Classes and Actuarial Science Classroom classes help students gain expertise of applying different techniques learned in Actuarial Science subjects to real life problems.

The Academic Junction in Delhi is the Best Actuarial Science Coaching Institute. Coaching is available for all Core Principles, Core Practices and Specialized Principle exams of Institute of Actuaries of India (IAI) and Faculty of Actuaries, UK (IFOA). Best Actuarial Science Coaching Institute in India- The Academic Junction provides CLASSES BY NEARLY QUALIFIED ACTUARIES AND ALL INDIA TOPPERS !!!

Why Actuarial Science?

Offering a strong combination of high salary and job security. In almost every category, such as work environment, employment outlook, job security, growth opportunity, and salary (especially salary), a career as an actuary is hard to beat.  Actuaries are well compensated. Experienced fellows have the potential to earn from Rs 55,00,000 to Rs1,11,00,000 annually, and many actuaries earn more than that. Compensation may vary significantly according to years of experience, industry, geographic region, and responsibilities. Actuarial Exam Training  is provided at The Academic Junction.  Actuarial Exams are exams administered by the Actuarial Societies. Topics for these exams include Mathematics, Probability, Statistics, Economics, Finance, Insurance, and Law. Typically students will need to pass one exam to get a job as an actuary. Further exams lead to the designation of Associate or Fellow in a Society. Obtaining these designations makes you a member of the society and is part of what leads to the really high salaries.

The Academic Junction is a main take a look at Actuarial Science Classes in India as it provides-

  • Multiple Small batches to focus on Personal Interaction & Development.
  •  Regular Doubt Classes to help you learn technical skills    and clear your conceptual Knowledge.  
  •   3D Wednesday (Doubts & Discussion Day).
  •  Video Backups
  •  In-depth training of Excel/R to prepare for online exam.
  •  Regular contacts with Companies and Start-ups so as to share your resumes and prepare you accordingly for interviews.
  • All India Toppers & Nearly Qualified Actuaries.
  • Blend of Young and Experienced Corporate  Faculties with 13-14 exams  to make you understand the application of knowledge contained in the subject.
  •  Practical Classes by IT Professionals.
  • Detailed Study plan, Chapter Wise Important Topics Summary 

Highlights.

  • Regular Assessments and feedback sharing to discuss your

improvement areas.

  • Exclusive writing & discussion Sessions oriented to case studies ,

  Past papers discussion and X series discussion.

Thus, The Academic Junction in Delhi is the main institute for Actuarial exam Training to prepare yourself for Actuarial Exams.

actuarial science after 12th class

Actuarial Science After 12th Class

Why Actuarial Science as a career prospect after Class XIIth ?

  • Having strong foundation in Mathematics?
  • Want to play with numbers?

Then consider Actuarial Science as a career!!!

Given Class XIIth Board Exams?

  • Lot of Interest in Maths/Statistics
  • Not planning for CA/CFA?
  • Not got good % but having good marks in Mathematics.
  • Have not cleared any Entrance Test?
  • Not planning to drop a year for BTech?
  • Not planning for BTech/MBBS?

Who is an Actuary?

Actuaries help to manage risk by helping organizations plan for the future and protect themselves from loss.

Actuaries are experts in

. Evaluating the likelihood of future events-using numbers.

. Designing creative ways to reduce the likelihood of undesirable events.

. Decreasing the impact of undesirable events that do occur.

For example

Establishing retirement plans, determining minimum contribution to be paid by employer and employee, funding level of the scheme, determining the amount of car premium charged by insurance company from its customers by making an allowance for profit, expenses and a contingency margin, determining the premium to be charged by life insurance company in case of death benefit to be provided to member insured, undertaking asset liability matching.

 LOOK OUT FOR CAREER IN ACTUARIAL SCIENCE

The Academic Junction is the Best Actuarial Science Coaching Institute that provides coaching for Actuarial Science subjects. So all the freshers looking to start Actuarial Science check out the following website- www.theacademicjunction.co.in

So along with your Graduation, start Actuarial Science now to get these Benefits!!

  • World Wide Recognized course.
  • High chances of getting a job just after clearing 3-4 exams along with your graduation.
  • Starting Package with 3-4 exams (4 lakhs- 8lakhs) and after becoming Qualified Actuary sky is the limit.
  • After job, all educational expenses will be borne by the employer.
  • Study support in terms of incentives and study leaves will be provided by company.

Join the Best Actuarial Science coaching institute- The Academic Junction and increase your chances of becoming an actuary.

Actuarial Science Video Lectures, Actuarial Science Live Online Classes and Actuarial Science Classroom Lectures by All India Toppers and Nearly Qualified Actuaries makes them different from others.

As their tagline says “Your partner in Actuarial Journey” so The Academic Junction will support and guide you in your entire Actuarial Journey throughout your career. 

Coaching is provided for all Core Principles, Core Practices and Specialized Principle exams of Institute of Actuaries of India (IAI) and Faculty of Actuaries, UK (IFOA). They are leaders in exam training with a success rate of more than 80%.

Their team of educational experts and career counsellors help structure the training material for students as easy as possible to help them gain knowledge and crack exams in their very first attempt only.

Actuarial Science Coaching by Experts

Actuarial Science applies probability analysis and statistics to define and solve the financial impact of uncertain future events. For example, actuarial science helps insurance companies forecast the probability of an event occurring to determine the funds needed to pay claims. The expanding Indian economy and rapid entrepreneurship have increased the requirement for skilled actuaries who can predict trends. As a result, developed countries have a very high demand for actuarial professionals. 

With the upcoming corporate culture and the surge in commerce companies, the job opportunities are very high in the actuarial science sector. They can have employability in the following sectors:

  • Financial services
  • Banking sector
  • Stock exchanges
  • Risk management
  • Pension funds
  • Investment consultancies

The demand for actuarial science graduates is huge in developed and emerging markets. With the right skills and experience, actuaries have a high chance of becoming a CEO. They are regarded as an asset in the company and are highly valued. Actuarial science graduates have a bright future in both the public and private sectors.

Actuarial science course imparts a detailed and structured education in actuarial science. It creates a unique blend of professionals attributing real-world solid business understanding, communication, interpersonal and leadership skills with an in-depth knowledge of Risk Management, Mathematics and Statistics. Candidates who pursue actuarial science are trained to identify future risks and design and develop new products to minimize the risk. The curriculum is designed to encourage and develop the standards of professional education, training, knowledge, practice and conduct among the Actuaries. 

Actuarial science is not an easy field. Actuaries also often lead teams and have a handful of different projects. Therefore, they must be able to handle all kinds of situations, to do, so an actuary requires a wide range of skills, and some of them have been listed below :

  • Problem Solving Skills- Actuarial Science professionals examine complex data and identify patterns to determine the factors responsible for certain outcomes. They look for ways to reduce undesirable results. Thus they require analytical understanding and problem-solving skills.
  • Mathematical brilliance- Actuarial professionals play with numbers all day long, so being good in basic maths is a definite requirement. They must also be at ease with calculus, statistics, and probability.
  • Technical knowledge- Different types of statistics software are the main requirement to be able to do the actuarial business. Having a basic understanding of Microsoft Office is essential. Knowledge of a statistical programming language is again a great skill for any actuary.
  • Knowledge of Business and Finance- MNC and financial firms are the main employers for actuaries. Their job is to evaluate insurance and advise firms on reducing and preventing financial losses. They also advise banks on ways to increase investment returns. To fulfil all these responsibilities, an actuary should have basic market knowledge of finance and investment.
  • Communication and Interpersonal Skills- They work with diverse people, therefore, having strong. Common people and even business and financial firms lack in-depth understanding. Therefore, having strong communication skills is a must, as actuaries should be able to translate difficult business and finance terms into a simpler language for common people to understand.

Looking for proper guidance in the field of Actuarial Science?

The Academic Junction Best Actuarial Science Coaching in Delhi will provide a solution for all the learning of actuarial subjects. Actuarial Science Coaching is provided by experts who have expertise in this field.

What is Actuarial Science?

All About Actuarial Science

What is Actuarial Science?

Actuarial Science uses Mathematics and Statistical knowledge and methods to assess different risks. Actuaries use probabilities and statistical techniques to predict uncertain future events.

It makes the career of an Actuary evergreen and exciting for people, especially those interested in Mathematics. Moreover, the current world scenario highly demands a capable actuary, increasing the job opportunities in this field.

How to become an Actuary?

One has to clear 13 subjects in the Actuarial science exam conducted by the Institute of Actuaries of India (IAI))/ Institute and Faculty of Actuaries(IFOA). These exams are globally recognized.

The recent changes in employment opportunities available for Actuaries Exam Curriculum have changed to reflect the skills, knowledge, and attributes required in an ever-changing business environment.

Stages of Actuarial Science Career

Below are explanations of the 4 different stages of the entire Actuarial Science Career.

Core Principles Stage

It comprises seven subjects covering the following areas-

  • Actuarial Statistics
  • Risk Modelling and Survival Analysis
  • Actuarial Mathematics
  • Loss Reserving and Financial Engineering
  • Business Finance
  • Business Economics
  • Business Management
Core Practices Stage

It comprises three subjects covering the following areas-

  • Actuarial Practice
  • Modelling Practice
  • Communications Practice
Specialist Principles Stage

It comprises 9 subjects covering the following areas out of which we have to clear only 2 to be qualified as Fellow. Each will be assessed using 3 hours and 15 minutes paper-based exam.

  • SP0- Master’s Level Thesis
  • SP1- Health and Care
  • SP2- Life Insurance
  • SP4- Pensions
  • SP5- Investment and Finance
  • SP6- Financial Derivatives
  • SP7- General Insurance- Reserving
  • SP8- General Insurance- Pricing
  • SP9- Enterprise Risk Management
Specialist Advanced Stage

It comprises 6 subjects covering the following areas out of which we have to clear only 1 to be qualified as Fellow. Each will be assessed using 3 hours and 15 minutes paper-based exam.

  • SA0- Research Master’s Thesis
  • SA1- Health and Care
  • SA2- Life Insurance
  • SA3- General Insurance
  • SA4- Pensions
  • SA7- Investment and Finance

Qualifications required to be an Associate and a Fellow

To qualify as an Associate, you will be required to complete the following examinations-

  • Core Principles
  • Core Practices

To qualify as a Fellow, you will be required to complete the following examinations-

  • Core Principles
  • Core Practices
  • Specialist Principles
  • Specialist Advanced

Planning to kick start your career in Actuarial Science?

The Academic Junction is the best institute for Actuarial Science Coaching in India, as classes are held by working professionals who are All India Actuarial Science Subject Toppers. They will support and guide you in your entire Actuarial Journey throughout your career.

We at The Academic Junction provide Live Online Actuarial Science Lectures, Actuarial Science Video Lectures, and Classroom Lectures for all Core Principles, Core Practices, and Specialized Principle exams.

All the details relating to Actuarial Science, demo classes and entry criteria can be checked in detail on the website- www.theacademicjunction.co.in.