UK is the best country to pursue Actuarial Science related courses. The United States is not too far behind in offering specialised courses in Actuarial Science. In India, in order to become an Actuary, students should passed their 10+2 and have attained 85% marks in Mathematics / Statistics. As far as graduates or post-graduate students are concerned, they can also apply if they have cleared their degree examinations with 55% aggregate or more on Mathematics and Statistics. Actuaries in India are regulated by the Institute of Actuaries of India (IAI). According to IAI, anyone with the following requirements/qualifications/traits can become an Actuary:
Duration: UG -4 Years, Diploma - 2 to 3 years
Fee per course/annum: ₹ 2,00,000 - ₹ 4,50,000
Duration: 4 Years
Fee per course/annum: CAD 26,000 - CAD 35,000
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Besides assessing risks, Actuaries also design and maintain products and systems. They are involved in financial reporting of companies’ assets and liabilities. They communicate complex concepts to clients in a language simple enough to understand.
Some of the prominent companies which hire Actuaries are:
Actuaries also work for:
In the UK, typical post-university starting salaries range between £25,300 and £35,000 and successful more experienced actuaries can earn well in excess of £100,000 a year.
Actuaries are well compensated in US as well. Experienced fellows have the potential to earn from $150,000 to $250,000 annually, and many actuaries earn more than that.
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