How to become an actuary in India?
There are many professional exams which are giving better job opportunities in India. Actuarial science is one of the professional degrees that will help in getting the desired job in the insurance sector. When students plan to start their actuarial science journey there might be many questions that come to mind & one of the important questions is how to become an actuary in India?
When students plan to start their actuarial science journey they have two options
Two above mentioned institutes will help students to become an actuary.
Lets understand, how to become an actuary in India?
To become an actuary in India is not an easy task as actuarial science aspirants have to clear all the actuarial science exam papers to be an actuary. Actuarial Science exam is all about the mathematics & statistical skills to understand & solve the major issues in the insurance sector.
You become an actuary, aspirants can start preparation after 10th standards by choosing science & mathematics or commerce with statistics/mathematics.
Let’s look at some of the key steps that needs to be followed to become an actuary in India
Start Your preparation
Once you pass 10th standard you must choose science & math or commerce & math so that you get the basics of math & statistics from the beginning of you journey to become an actuary in India
Under Graduate Level Preparation
After 12th standard you can go for B.Sc. in actuarial science or diploma as well. There are many colleges which offer graduate degrees in actuarial science & that will help aspirants to become an actuary in India. Here are a few points that will help in getting the idea about how to become an actuary in India?
- 3 years undergraduate degree in which you have to choose either mathematics or statistics
- Clear ACET exam to get the admission in actuarial science colleges
- Eligibility for admission is science/commerce with statistics or PMC
Undergraduate Colleges for Actuarial Science
Here is the list of colleges which help in becoming an actuary in India
- Bishop College Trichy
- Amity University
- Parul University
- YCMOU Nashik
Post Graduate Level Preparation
There are many students who plan to become an actuary in India after graduation. Aspirants can choose M.Sc. in actuarial science or MBA actuarial science. Let’s look at some of the points that will help in understanding the steps to become an actuary effectively
- PG courses in actuarial science is one of the best course & that too only of 1 year
- To pursue PG in actuarial science you must have a graduation degree in actuarial science or the same degree in mathematics or statistics.
- Entrance exam or admission on merit are two best ways to get admission
MBA in Actuarial Science
MBA in actuarial science is also one of the most popular courses to become an actuary in India. You become an actuary after completing your MBA in actuarial science. Its a 2 year professional degree & need to clear entrance exam to get the admission.CMAT is the major admission entrance exam to get the admission
List of college for MBA in Actuarial Science
- IIRM Hyderabad
- Department of Statistics, Mumbai University
- Department of Statistics, Dibrugarh University
- School of Mathematics Science, North Maharashtra University
How To Become an Actuary In UK
- Actuarial Science aspirants choose to become an actuary in Uk also, they need to appear for an exam conducted by IFoA.
- To become an actuary in UK you must complete graduation in actuarial science from UK
- To get the job as an actuary one must complete the internship from UK
List of College in UK for Actuarial Science
- University of Manchester
- University of Southampton
- Kent University
Conclusion
How to become an actuary in India or the UK is a tedious task that needs dedication & hard work. You will choose under graduation, graduation or PG for starting your actuarial science journey. Choose the best way you think that will lead to becoming an actuary & hope above mentioned information will help to get the answer of the very important question: how to become an actuary?
Frequently Ask Questions
1 ) How to become an actuary in India ?
Becoming an actuary in India is a tedious job, aspirants has to clear all the required exams from IAI or IFoA.
2) How long does it takes to become an actuary in India ?
It takes almost 6-7 years to become an actuary in India
3) Is it hard to become an actuary in India ?
Yes, it is hard to become an actuary in india however proper planning may smooth your journey
4) How many exam you need to clear to become an actuary in India ?
To become an actuary in India, aspirants must clear 14 exams.
5) What courses are available to become an actuary in India ?
- B.Sc in Actuarial Science
- MBA in Actuarial Science
