i dunno much but i still can tell that, graduates with bachelor in actuarial from local universities do not have that high of starting pay

this field is getting oversupply from the bottom level (juniors) and very scarce in fully qualified one, this is why the juniors with little to no professional papers at hand getting very low pay

This post has been edited by PhakFuhZai: Nov 4 2011, 07:01 AM

i would like to say impossible u wont get promote during the 10 years time. u are now a fresh graduate and u forever will be fresh graduate?
use ur brain to think, dun just think of increment, think about promotion. OMG...

Starting pay of MINIMUM RM4k for actuary GRADUATES (DEGREE) ?

Please list out companies to back up your statement or any source for that matter?

Because I find it hard to believe that statement without any form of indication at all. It could be based on your experience, rumours that you heard, your pay, etc but we need a little something more solid dont you think?

Not to say it is not achievable (heck it could even be higher) but the word MINIMUM does make me a little bit suspicious.

Pls verify your source. Starting pay for actuarial grads is generally same as those for business grads, around RM 2,500. Unless you are near qualified upon graduation, otherwise you won't get even close to RM 4K.

There are a few actuarial consulting firms offering higher pay for fresh grads compared to other insurance companies (around RM 3000 - RM 3500), but they have a tendency to hire foreign grads. Local grads who are lucky to get actuarial jobs are normally in insurance companies where there are big group of alumni.

Nowadays, there is an oversupply of fresh actuarial grads in the market. Even a lot of foreign grads can't get actuarial jobs and end up elsewhere. Local grads are very aggressive in passing exams too (3-4 papers) yet hard to land a relevant job. To land an actuarial job, either you are supersmart or superlucky.

Actuarial job is not that interesting after all. Generally actuarial ppl are a bunch of nerds and spreadsheet monkeys. The career might suit you if you prefer long term security and do not like travelling job.

I can't believe they pay so little. BNM hired my colleagues sister, RM 17k starting pay. She completed her Masters while under them and got 30+/mth after that. Real actuary job (real actuary in comparison to 'msian actuary'- analogous to the numerious 'executives', 'managers', and 'engineers' of msia). May be repetitive job but it is complex and adds value in economics. These pay packets are what real actuary students work hard for studying during uni life. Not any TD and H can pass the exams.

in general, people who taking this course don't have much life even in school, after graduation is even worse, having to cope with work and professional exams at the same time, very little time is left for personal stuff..

many people choose this course is due to they think this field can earn big bucks easily, well for 15-30 years ago this was the truth, easy money, but things has changed now, this field is getting too competitive at the junior level, in Malaysia they have shortage of associates/fellow but alot of fresh juniors who just grad from UTAR, UKM etc.

some MNC insurance companies they rather bring in expats with attractive packages to fill the gap for associate level..

I graduated from UK. Passed some exams but no related work experience.

Agreed. Don't need a degree to make almost 2/3 of that in the first month of work.

Associates are still only partly qualified. Unfortunately openings exist mostly only for newly qualified/experienced Fellows or Math PhDs.

True.

Wow, RM17k starting? That's amazing. Just after undergrad?