Be an actuary? But I like having a life...

scarlettfever

Hi, just wondering if there's anyone out there who can give me an honest opinion of what's it's like becoming an actuary and then working as one? I just graduated with a first in financial maths and am currently working as an analyst at a bank. I like it but find it really unchallenging, I really prefer being pushed to learn and work, you know? I've been there 3 months so i suppose I should give it more time but I see people who've been there over a year dossing around half the day and I don't want to end up like that, not least because I feel like the day DRAGS when there's nothing to do!
So i've been giving some thought to becoming an actuary but have been put off by tales of people having literally no life for like 5 years while they do the exam then working 11-hour days when they finally qualify? I really want to be challenged at work etc and I have no problem with hard work and sitting exams but I just don't want to be doing it 24-7 for years? Don't want to waste my 'freedom years' (my twenties) working 9-5 then studying all the rest of the time? Has anyone been through it or known some-one who has who could give me advice? Is it really THAT bad?

timmywex

Id like to know this aswell! Im interested in getting into actuary, doing it in college maybe.

Just to throw in another q, is it hard or is there many jobs in the area??

Pythia

I was gonna be an actuary but decided to go for risk in the bank because as far as I can see, you really can't have a life while training, and I did a lot of research on it.

scarlettfever

scarlettfever wrote: »

Hi, just wondering if there's anyone out there who can give me an honest opinion of what's it's like becoming an actuary and then working as one? I just graduated with a first in financial maths and am currently working as an analyst at a bank. I like it but find it really unchallenging, I really prefer being pushed to learn and work, you know? I've been there 3 months so i suppose I should give it more time but I see people who've been there over a year dossing around half the day and I don't want to end up like that, not least because I feel like the day DRAGS when there's nothing to do!
So i've been giving some thought to becoming an actuary but have been put off by tales of people having literally no life for like 5 years while they do the exam then working 11-hour days when they finally qualify? I really want to be challenged at work etc and I have no problem with hard work and sitting exams but I just don't want to be doing it 24-7 for years? Don't want to waste my 'freedom years' (my twenties) working 9-5 then studying all the rest of the time? Has anyone been through it or known some-one who has who could give me advice? Is it really THAT bad?

I absolutely love it so far and I still definitely have a life
So do all the lads I work with, and they go out a fair bit more than me while still passing and qualifying.
The work is wonderfully challenging and I find the exams very interesting, albeit very difficult. But that's part of the appeal.
You also get time off work for study - for the april exams you'll generally be on 4 day weeks from january then get a week or so off around the exams. For the harder exams you'll get more time off, this is just for the first 8.
You also wouldn't really need to be studying after the september exams til december really so you do get nice breaks
Personally I got lucky at my company as I'm on flexi time so I'm not just stuck 9-5 every day. I have absolutely no idea if that's common in other places, but I don't think I could cope without it...

I love it and would recommend it to anyone who loves learning and a challenge. And money

edit: Mmf, aside from all my gushing, I do have to point out the exams are incredibly difficult and not just from the syllabus perspective. I sat my first exams expecting them to be like my master's exams - not a chance.
Not to mention there's no actual pass mark for any exam and it's all on a grade curve, rather competitive so you need to aim for 90-100% on any exam sitting to have a hope of passing. I think the average amount of people passing some of the CT exams is 40-50% of those sitting it, and sometimes it's as low as 25%.

shakeydude

I was just wondering if all jobs in actuary are solely Dublin based or can you train in other cities around the country?

Shakeydude

scarlettfever

Thanks Bluewolf that's really helpful and at last i've heard something positive about the whole process! :-) how far along are you on the exam front, if you don't mind me asking? Did any people starting with you drop out along the way?

scarlettfever

scarlettfever wrote: »

Thanks Bluewolf that's really helpful and at last i've heard something positive about the whole process! :-) how far along are you on the exam front, if you don't mind me asking? Did any people starting with you drop out along the way?

Only just started them in April where I got that shock of how difficult it actually was. Repeated just there in september and results are out next week! I may be singing a different tune then depending on how i do


Starting with me how? The team I'm in, they're all ahead of me at various stages - someone new just started after me as well. I'm not sure about the other student actuaries - though there are a load of social events at the company organised for the actuaries, it's pretty awesome how they get together - anyway there are quite a lot. I don't know of anyone dropping out.

Once you're working you mainly cover the syllabus on your own though. There are tutorials you can go to but it's learning on your own (after college obviously) which can make it more difficult as well, though chances are you can go over some stuff with other students in the company etc.
Don't get me wrong, it really is very, very difficult. but it's most certainly not the end of a social life either.