An actuarial student is a trainee pensions consultant or risk analyst who is still in the process of studying to become a professional.
The purpose of an actuary is to evaluate financial risks. In order to do this they must analyse probabilities, statistics and investment theories to ensure that they can provide clear strategies and offer sound financial advice. Whilst most actuarial work is based around pensions insurance, some actuaries may move on to other areas of finance, such as investment banking.
A degree in economics, business, maths or a related field is required in order to become a professional. In most cases an actuarial student will have already completed their degree and will be engaging in post graduate education whilst working. In addition to formal qualifications candidates must have excellent maths and English language skills. When recruiting new staff, employers will also look favourably upon candidates who have gained work experience.
Most actuarial student jobs are based in inner cities, and employment is very competitive. Actuarial student jobs can often be found through recruitment agencies.
The salary for an actuarial student can vary depending on location. Inner city jobs are generally higher paid than in rural areas. Starting salary for an actuarial student is around £31,000. After completing education the average salary raises to around £45,000. Senior partners and chief actuaries can make up to £250,000.