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Business The Truth about Actuarial Science, It is not only about the Math

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gloomberg
post May 18 2010, 08:48 PM

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Firstly, you have to understand that the demand for actuarial science grads in Malaysia had significantly due to the excessive supply. If you try to go out and look for jobs, you'll notice how scarce is it. But of course, I'm talking about vacancies in insurance(general/life/takaful) and consulting(life,general,health&benefits,pension&retirement). Other than that, feel free to search around. But what I am suggesting students who want to proceed with this career to actually major in statistics/computer programming/and any other majors(finance,economics,accounting). That way, you won't be stuck with only "real actuarial" job. Talking from experience here. Those newspaper article talking about the growing demand is utter bullshit, literally, especially the ex-ASM president who always go around promoting the non-existent demand. Mathematics is not crucial, but critical and analytical thinking is crucial in this line.
gloomberg
post May 25 2010, 12:12 PM

On my way
****
Junior Member
510 posts

Joined: Aug 2009


ok guys, those who plan to take up an actuarial degree please dont study locally, as it would be hard to find an actuarial job in insurance firms(life,general,consulting). Demand is scarce, but supply is abundant. speaking from experience here ok. Last graduation along, there are >200 actuarial grads, and that doesn't include those coming from overseas. those who does not perform go to places doing underwriting, claims all those jobs u wont really wan to do. What is suggest is to take up a CFA course as a back up plan, although it's kinda expensive, and go for investment banks(i admit that it's not easy). only industry that has a bright future is takaful, although that would come a long way. So guys, have a back up plan before u start, dont just study for a particular course, it is kinda risky. Even when finding for a job, we have got to diversify, although specializing is good.

 

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