Actuarial professionals help to evaluate the financial implications of important decisions so that businesses can forecast for the future.
The vast majority of entrants are Maths, Actuarial Science, Economics or Finance graduates. They must become Fellows of the Institute and Faculty of Actuaries. Once they enter into employment as Actuarial Trainees, they are trained by their employer and are expected to study for professional exams.
Actuarial jobs can be found throughout the UK, although vacancies are more readily available in London and Edinburgh. Recruitment agencies are commonly used to fill this type of role and they will work with employers such as consultancies, insurance companies, banks, large commercial companies and government departments.
Starting salaries for graduates can be as high as £36,000 a year. Fully-Qualified Actuaries might earn between £50,000-60,000, and a Senior Actuary's salary could easily be over £70,000. Staff may also receive other benefits, such as company cars and annual bonuses. Those working in large companies may be able to move into Management positions.