Employment prospects? (1 Viewer)

[MrA]

although i keep reading that there is a "strong demand" for actuarial graduates.....

is this really true, or just an exageration and is it difficult to get a job after graduating?

 

[bong]

and a lot more pay?

 

[-=«MÄLÅÇhïtÊ»=-]

job prospects are crap im afraid....unless ur elite
advice from postgrads is to start slow and kiss ass to the top..slowly

 

[bong]

is it likely that we'll find an actuarial job straight out of uni?

 

[MrA]

Originally posted by flyin'
It's all relative anyway... In comparison to just a plain Commerce, Actuarials are streets maybe suburbs ahead.

what about compared to accounting?
i think they have many job openings so it may be easier?

 

[-=«MÄLÅÇhïtÊ»=-]

Originally posted by flyin'
Let's just say 99 out of 100 chances, you'd wish to have an Actuarial degree as opposed to Accounting.

...i fink dats abit over the top
take a look in newspaper, accountants are in high demand. you ever see an ad for an actuary?

Insurance companies in aus only have a small intake each year for graduates. The rest end up going into small jobs and end up doing things they never learnt at uni.
This is why im doing combined appl finance. In the event I can't get an actuarial job, I'll be in the same industry working in hopefully similar things like risk analysis, or consultation roles in finance companies..
Whose going to trust a 22yr old with billions of dollars?

Going overseas seems to be the obvious thing to do. Actuaries are respected in America, whereas people here barely know what an actuary is and only think lawyers and doctors make alot. But once you graduate AIAA isn't worth much. It's only after you get FIAA that your skills are demanded, because if you aren't valued, you simply leave the country.

 

[bong]

yes.. i saw an ad for actuary... once, hehe, on seek.com.au

for accounting there is a shitload

what about consulting firms like pwc, kpmg, etc?

 

[-=«MÄLÅÇhïtÊ»=-]

pwc is a major sponsor of our student association at mq. they have a large actuarial division..about 100 actuaries in aus.

every year about 50 actuaries will graduate..
they wont all be employed..

 

[MrA]

50 only?

any idea approx how many start off?

 

[bong]

lol, so the probabilty of getting a job is about as low as the survival rate...

 

[dvse]

I would say that about 50% of my friends (non co-op) who graduated last year ended up with fulltime actuarial or related jobs by now. Keep in mind that the sample size is pretty small (but over 10).

Only a few got their jobs directly through grad programs (multiple offers even) but we are talking people with all exemptions, high averages and double degrees etc.

Another way was to get a generic grad job at a company that employs actuaries and then transfer internally. For example some started with positions like claims manager or financial analyst in business banking.

And finally it may be possible to get a temp contract (pure chance here) and then be offered a permanent position.

I can't be sure, but with increasing supply of graduates situation can get even worse in the future and salaries can potentially fall. Of course if you are one of those rare people who can pass exams and really know what they are doing, I wouldn't worry.


As for working overseas, the only reasonable destinations would be UK, HK or Singapore. It is unlikely that someone there will hire you unless you already have work permit or some experience (at least 2 years, already a Fellow). Languages are a probably required for the last two as well.

 

[-=«MÄLÅÇhïtÊ»=-]

Originally posted by MrA
50 only?

any idea approx how many start off?

About 150-180 start off.

 

[bong]

keep in mind the other 50 odd from unsw...

roughly 15 of which are co-op students

 

[dvse]

Don't forget that actuarial degree would allow you to apply to most places that take commerce grads. In the end it's not so bad.

 

[bong]

Originally posted by flyin'
And if all else fails, the dole will suffice.

should've known that someone would say that

 

[dvse]

It's not so bad once you go to cheaper states, like WA.

 

[Supra]

shit now yall got me worried, but yall r talking bout AiAA stuggling to get jobs, if ur a FIAA, then ur in high demand rnt ya???

 

[dvse]

Yeah, or even an associate with one specialist exam and 1-2 years of experience isn't so ba.d

 

[Supra]

ohh ok kool, i got my mind set on FIAA neway, dont wanna b associate for too long (double degree-part 2 exemptions as well as part 1)..
i dont know if this has been mentioned sumwhere, but APPROX (or on avge) how long will part 3 take, i know its external part time , 1-2 yrs

 

[Supra]

actually i wouldnt mind doing full yr study-ill live off my dad so i wont need to work then