About An Actuarial Science Career
Actuarial Science applies mathematical and statistical methods to finance and insurance, mainly to risk assessment. It includes a number of interrelating disciplines, including probability and statistics, finance, and economics. Actuarial Science is a way of tackling the operational issues which financial business face, mainly where there are significant financial uncertainties in running the business.
Actuary is a business professional who analyzes the financial consequences of risk. A career as Actuary is better described as a “business” career with a mathematical basis than as a “technical”.
Actuarial Science study starts with mathematical and economic techniques, which makes the base of actuarial science. Gradually students get deeper understanding of applying the techniques and developing more possible detail at subjects in investment, insurance companies, and funds.
Trumpandgates, have highly trained professional whose training help students to achieve better score in actuarial exams and make them analytic, business-aware individual who becomes highly trained to fulfill responsible, senior, and well-respected position in an organization.
Students in the India are able to choose from different options when studying actuarial science. One by being sponsored by an employer and study by correspondence through the set of professional exams or one can join regular course. Proper understanding and appreciation for mathematics and its applications is the need to pursue a career as an Actuary.Ideas from economics are also becoming increasingly influential in actuarial thinking. In short Actuarial Science can be described as ‘Making financial sense of the future.’
Reason for choosing Actuarial Profession.
1. Globally recognized & world wide affiliated course.
2. Zero Unemployment Profession.
3. Wide applications of actuarial science in different fields including professional practices.
4. Cost of study is low.
5. Earn while you learn & No visa hurdles.
6. No GMAT / GRE / SAT & No Entrance exam.
7. Privatization of insurance industry & starting of public pension schemes will be requiring sizable numbers of semi-qualified & qualified professionals in near future.
8. Highly paid profession, starting salary in India Rs. 8 lacs p.a. & Rs. 30 to 35 lacs abroad.
9. As soon as the student completes a few papers of 100 series, he/she can be an Actuarial Trainee and expect a stipend of Rs. 1,50,000 per month in UK and Rs. 25,000 in India.
An actuarial career can offer you considerable rewards in terms of intellectual challenge, professional status, job satisfaction and high earnings.
Actuaries are one of the highest paid professionals in the world, a freshly qualified actuary is likely to receive an average pay of around $ 70 thousand per annum in UK/USA and Rs.18 lacks in India. As a trainee the students can expect their stipend to start at Rs.50 thousand per month in India.
A degree in Actuarial Science is globally recognized and provides a zero unemployment profession. The cost of studying is also low. Truly this makes Actuarial Science a smart career.
In India, the Actuarial Society of India offers this course. Apart from that, courses from the Institute of Actuaries, London and Australia are also recognized in India. Any person with a high degree of aptitude for mathematics, statistics and finance can take up this course and become an Actuary.