Which is Better IAI vs IFoA?

The Institute of Faculty of Actuaries (IFoA) and the Institute of Actuaries of India(IAI) have changed their structures and hence have become hot topics of debate these days ,namely IAI vs IFoA. The new curriculum was released in 2019. IAI, which regulates the profession of Actuaries in India, is a statutory body which was known for lower exam fees but this advantage has started to fade away now. The IFoA, which has turned out as the largest IFoA student membership base after the United Kingdom, has now almost equal structure as that of IAI. Lets take a deep dive to get the better understanding of IAI vs IFoA.

Again the difference of having membership under these two conducting bodies is pole apart and easily noticeable. In case the exemption continues, it is wise to take both memberships. IFoA has advantages of giving higher pass rates but IAI also has its own benefits. IAI membership is comparatively cheaper for sure and they provide seminars and events which prove to be productive on a long term basis. The membership fees vary for members and non-members and sometimes the event is for members only. IFoA also has provisions for exemptions with various universities.

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The salary packages and the positions offered for the candidates who write the exams conducted by IAI and IFOA are mentioned in the list below for the students to choose which exams to write.

The table mentioned below has the salary packages for students after finishing the IFOA exams. 

The table mentioned below has the salary packages for students after finishing the IAI exams. 

• Interns with a tenure of 1 to 6 Months with the stipend paid is between Rs. 10,000 p.m. and  Rs. 25,000 p.m.
• Applicants who have 0 – 2 years of experience and 1 to 6 Actuarial Exams cleared, Annual Package is between 2.5 Lac P.A. and  6.5 Lac P.A

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So to conclude, in the debate of IFoA vs IAI, both have their own advantages and disadvantages but the clock leans more towards IAI. It would be better for a student to take membership under both. The students could give half of the papers which seem difficult to them from IFoA which has easy papers and others could be given from IAI which is comparatively cheaper and hard copy of study materials .