Need to ask, i'm going to get an offer from a GLC. I heard GLCs (state owned company) follow a pay scale so salary, perks etc cant be negotiated?

Let's be real here.... actuaries are lucky because of BNM and also the industry in general demanding certain position requires said qualification....

Actuarial exams aren't as tough as CFA or even many other professional exams out there....

If the difficulty of qualification = high pay.... then whoever achieved top in the world in any chartered qualification... should automatically be CEO then??? Even if the qualification itself is easier.... we are literally talking about near impossible difficulty because you cannot even redo/have a second shot in getting top in the world...

Passing actuarial papers is just an eventual means as long as that person doesn't give up... I'm not from the insurance industry but I know even in your industry ... there are also only a small number of people holding chartered insurer title despite the exam is much easier than actuarial for most people.... however... those who held the title don't get the same luxury as qualified actuaries because BNM never gave a mandate that only chartered insurers can hold the Head of Claim/Underwriting/Marketing position...

Besides... difficulty of exams are also often subjective because I personally know a few qualified fellow actuary cannot get through chartered insurance exams and gave up.... one person might find stats/numbers easier but theories/research difficult....vice versa