The Actuarial Podcast Ep.1 (Part-1) | Arpan Sengupta | Does Actuarial Science Really Pay 1 Crore

[@TheActuarialGuyRomit]

Link to part 2: kzbin.info/www/bejne/q4a0fHaIapalqqM

[@sujathasabarishvar1081]

Thanks to the Actuary for his cool interview making listeners to feel comfortable. Great initiative Romit sir. Many times , romit sir was on high stride without giving space to the Actuary to finish his lines. But Romit sir is a king maker , he knows the message needed is to be delivered . I believe only because of Romit sir's rapport , this podcasting is lively . Thank you sirs.

[@priyamalok47]

Package discussion after 10:25

[@sarchitgupta1266]

So much of clarification and guidance from this interview. Thanks Romit Sir for this Initiative.

[@riyajain5366]

Extremely insightful . Looking forward to part 2 👍

[@gauravgk98]

Way to go sir

[@Sumit_Bhise]

Thank you both for this session

[@MS-du9jj]

Very honest approach by Arpan .. 👍 Thankyou Romit and Arpan

[@luciousainhorn]

Just Subscribed 🌹🌹

[@tanishabasu6736]

how did the shift from an mba role to an acturial role have an effect in your salary?

[@GANESH-oi9zb]

Great interview, good guidance

[@VinayKumar-mr9gk]

Bhai mne ba with ki h or ager m applied math s m.sc kerte hua actuary ki prepration ker exam clear ker sakta hu kya

[@TheActuarialGuyRomit]

Haan ji bilkul kr skte hain.

[@VinayKumar-mr9gk]

@@TheActuarialGuyRomit kya iska syallabus fix h kya

[@akshatvakharia7346]

Wants to know actuarial interns pay after 7-8 papers ... And after 11-12 papers

[@TheActuarialGuyRomit]

Intern are almost always hired at a stipend of anything between 10K- 35K per month irrespective of the number of exams. The median is 20K.

[@akshatvakharia7346]

So first company hire as intern only ?? What pay expect after clearing 7-8 papers and after 11-12 papers ??? When someone can appoint as Appointed Actuary and what pay approx?? Can any company appoint as Appointed Actuary after 8-10 papers clear ???

[@TheActuarialGuyRomit]

@@akshatvakharia7346 Firstly I'd encourage you to not obsess so much over pay scales. Second, the number of exams don't determine the pay independent of number of years of experience. Yes, your first employment is almost always an internship. If the company likes your work, they make you permanent at an initial median pay scale of 4.5 - 5 lakhs per annum, This grows as you pass more exams and gain more experience. An appointed actuary is the defacto head of an actuarial department in an insurance company, you cannot be an appointed actuary unless you pass all exams and have a good amount of experience after you pass all 13 exams, at least 5-10 years of post qualification experience. So their total experience in the industry can be 15+ years when they are first appointed as an appointed actuary. The pay scales of appointed Actuaries is very lucrative, but varies widely across companies and sectors.

[@akshatvakharia7346]

Thank You Romit Sir.... I'll remember ur advice...good to know facts ..awaited part 3 of this discussion...

[@jatinjain3288]

had he given papers from the indian institute (IAI)?

[@TheActuarialGuyRomit]

He has written a few of them from IAI and others from IFoA, you can check his LinkedIn profile: www.linkedin.com/in/arpan-sengupta-07243836

[@ayush2314]

6.5 years of experience and worked with 5 employers? :O

[@TheActuarialGuyRomit]

Sampling through them is a good idea :D

[@Hiithere-my9jn]

Hii, Sir is doing an MBA a good option while pursuing actuarial science? I have cleared 5 exams so far and I'm in the last year of my graduation (B.Tech)

[@TheActuarialGuyRomit]

If you are looking to make a career in Actuarial Science, I won't recommend an MBA at the stage where you are; because, the investment is big, after completion of your MBA you'd find the fresher level Actuarial roles' pay too low and you'd want to go for campus placements where you probably won't find Actuarial roles. If your goal is to shift to managerial roles within Insurance organizations, you can eventually consider an executive MBA (and evaluate if you need one), but that's a decision for later. I'd recommend focusing on your fellowship exams for now. In general, I don't think the value addition of an MBA is significant, MBAs don't offer value for money and come big a big financial liability.

[@kirtijain3731]

Great perspective!!

[@govindaaggarwal103]

👍👍👍 Thanks!

[@ratnadeepghosal7153]

What is the median salary of an Freshly qualified actiary with 3 yr acturial experience Zero years post qualification experience. Response will be highly appreciated?

[@TheActuarialGuyRomit]

I'd put it at INR 25 lakhs.

[@ratnadeepghosal4448]

Is the median higher in general insurance If it is what is it?

[@TheActuarialGuyRomit]

@@ratnadeepghosal4448 I don't think so. But I'm not sure. They also widely vary with experience and employers.