How to become an Actuary in 8 steps!

The path to becoming an actuary, although challenging, can be very rewarding. If you’re wondering how to become an actuary and you want to know the exact steps that you should take, you’re in the right place!
There may be slight variations in becoming an actuary depending on how early you start your actuarial journey. However, there are key steps that all actuaries must take in order to become fully qualified.
In today's video, I go over 8 steps to guide you on your journey to becoming an actuary. I discuss skills that you can learn before even applying to actuarial positions, right up to becoming a certified actuary. This step-by-step guide will walk you through all the key steps that you need to know in order to become a fully-qualified actuary.
TIMESTAMPS:
• Intro 0:00​
• Step 1 0:52
• Step 2 2:05
• Step 3 3:23
• Step 4 4:30
• Step 5 5:35
• Step 6 6:30
• Step 7 7:12
• Step 8 8:15
• Actuary Accelerator Community 10:50
• How to get your FREE month 13:35
P.S. Want a mentor on your journey to getting your first full-time actuarial job? I'm here for you! Check out the Actuary Accelerator Community.
etchedactuarial.com/accelerator/
During the month of October 2020, in the Community, we will be talking all about how to prep for interviews. With the onset of hiring season, you need to stand out from the competition and ace your interviews, so this is valuable information you won't want to miss!
** Note that if you're watching this later, you'll still be able to access all the videos in the Accelerator Community.
#actuary #actuarialscience

[@yusoffirdaus3553]

I wish good luck to all of people who inspired to become an actuary. You can do it!

[@dithdian2366]

Hi Yusuf. Are an Indonesian?

[@EtchedActuarial]

Good luck to you too!

[@ksisisoaoakalaowpwo768]

you mean 'aspired' ?

[@BeardALaCarte]

Currently doing a (Bsc) Economics & Mathematical Science degree, felt like it was the best in laying the foundations for actuarial sciences.

[@RootedforLife]

How is it going??

[@BeardALaCarte]

@@RootedforLife Its going very well!

[@yrnkevinsmithC-137]

How u doing

[@alil8270]

Thank you for this video! I finally understood the steps. No other video was so clear cut.

[@EtchedActuarial]

You're welcome Ali :)

[@sadikmohammed4824]

Nice information ma'am... Hope to see more interviews of people working in actuarial field. It will give a good idea about current situation. Thank you

[@EtchedActuarial]

We also have a lot more interviews with people from different backgrounds in the Actuary Accelerator Community. You might be interested in learning more here: etchedactuarial.com/accelerator/

[@HowToExcelBlog]

I'd say power query and power pivot in Excel are also important. The number of people who have never used or even heard of them when they're using Excel 8 hours a day just blows my mind 🤯

[@EtchedActuarial]

Excel is definitely a great tool with lots of useful functions!

[@joyprokash4013]

Excellent way of instructions miss.

[@EtchedActuarial]

Thank you! I'm so glad my video helped you! :)

[@timthegoat8980]

Hi do you recommend doing a master's or just going with the bachelors. And also do you think actuaries will still be sought in the next few decades

[@leankombe6569]

Hello ma’am, I saw on one of your videos that you graduated from the University of Waterloo. I also wanted to go there but I missed the application deadline. So I applied to Carleton University and I got accepted but I wanted to ask you your opinion about studying actuarial science at Carleton (if you know about that uni). Also I wanted to ask you whether you had any exemptions by studying at Waterloo?

[@amalinnorman]

i really love your videos! currently taking bachelor of commerce majoring in actuarial science :D thankyou for the great videos!! i will surely come back for the exam guide and the study strategy program!!

[@EtchedActuarial]

Thank you! We look forward to working with you :)

[@thegajuar4459]

I'm planning on majoring in Statistics but I don't know what to put in as my second choice (on my applications): Mathematics or Computer Science? What are the pros and cons of these two for an actuary career?

[@EtchedActuarial]

Take a look at this analysis etchedactuarial.com/best-actuary-major/

[@ryanschmit3599]

What are some good ways to prepare or experience being an actuary to see if you enjoy it in high school? Your videos are great!

[@EtchedActuarial]

Check out this video! kzbin.info/www/bejne/jWrIe2qwn9uaZrM

[@terranceforrestjr1159]

Great video

[@EtchedActuarial]

Thanks!

[@leankombe6569]

Hello ma’am, do you advise us to sign into your actuary accelerator program from our first year at university (to get our bachelor degree) or after we obtained our bachelors degree?

[@EtchedActuarial]

Hi there! I'd say it depends on what your goals are! If you want to start learning technical skills and get a stepping stone position/internship soon, I would join! If you won't be doing those things for a bit longer, I would wait to join until then. Hope this helps :)

[@chifunokabiti3783]

Hi.. thank you so much for this video. How many exams are supposed to be written for one to become a fully qualified actuary? And how long does it take?

[@EtchedActuarial]

Hey there! :) I think this blog post will help you: etchedactuarial.com/how-actuarial-exams-work/

[@meavewinterbourne9247]

What kind of math are involved in actuary work? I am sorta scared of geometry but algebra would be ok for me

[@moularaoul643]

Thank you so much!!! I have already completed the first two steps! Now I want to pass the exam (P, FM and IFM). I am in Africa (Cameroon). Please, where can I find documents to prepare for these exams? I have a bachelor's degree in mathematics and computer science. Thank you for your reply.

[@EtchedActuarial]

Hey there! You can find recommend study materials for Exam P and FM below. etchedactuarial.com/best-study-manual-for-exam-p/ etchedactuarial.com/best_exam_fm_study_guide/ Please note that SOA/CAS exams are required for becoming an actuary in Canada and the US. But if you want to work as an actuary elsewhere, there might be other pathways to take so be sure to check the local requirements before getting started.

[@moularaoul643]

@@EtchedActuarial Thank you so much!!!

[@estellaescalante6314]

Hi 👋 Recent accounting grad here. Not sold on the high cost of taking and studying materials for CPA. Also afraid that CPA won’t allow the lifestyle I desire - less about money and more about what I do outside of work. Still want to have a career so I looked at Internal audit and CMA but there is no guarantee I can get a job that is relevant as per the requirements to take the exam without getting a masters in my job market 😭. Took a look at your videos and I’m sold on actuary. Took a look at the syllabus for SOA exams and pathways and I like that I can go at my own pace. Any tips? Is it common for someone with an accounting, finance, or economics degree to choose this path?

[@EtchedActuarial]

Hi Estella! There is definitely a good number people who decide to pursue an actuarial career after completing a degree in accounting, finance or economics. You can find a lot of tips on the Etched Actuarial blog here: etchedactuarial.com/blog/

[@NicoTheo]

Hi, I'm in your exact position right now! How did it end up working out for you?

[@johnbaez2756]

What courses do you recommend taking in high school for becoming an actuary

[@EtchedActuarial]

Math courses are probably the most helpful! You can also take a look at this post to find some inspiration: etchedactuarial.com/best-actuary-major/ This video might be helpful too! kzbin.info/www/bejne/jWrIe2qwn9uaZrM

[@iDoqz]

tl;dr watch 9:59. hope this helps!

[@nurulzahra9668]

I'm currently in college, i took insurance and actuarial administration major and soon will be having associate's bachelor degree. Does that makes me any lesser than people with bachelor degree?

[@EtchedActuarial]

Most actuarial positions will require a Bachelor's degree at the minimum from what I'm aware of.

[@enriquejuarez4563]

Can I become an actuary after I complete my degree I have a ba in economics and want to pursue a actuary degree but don't know where to start I had a plan to do this in college but covid hit and I decided to try and be an analyst instead but while I do that I want to become a certified actuary

[@sanyamgupta7496]

Hello Ma'am! I'm from India and have just passed high school and entered college. Do you think the Community will be of any help to me? I mean cause I'm gonna take my actuarial exams from either IAI or IFOA but you'll be guiding for SOA or CAS. So, what do you say, will I be able to derive any benefit from it? Btw, thank you for your precious time and diligent efforts in guiding us. Lucky to have a mentor like you for all info related to actuaries !!!

[@EtchedActuarial]

Yes! The Community has lots of resources that are not exam-specific including technical skills training, insurance concepts and guidance for job search. You will learn how to develop all the skills and experience that will make you a top candidate for actuarial positions once you graduate.

[@sanyamgupta7496]

@@EtchedActuarial Thank you so much, ma'am!

[@EtchedActuarial]

@@sanyamgupta7496 You're welcome!

[@raginigupta780]

Currently I'm doing bcom

[@ryanschmit3599]

Also, how much does your job make a year, and does it increase as u pass more exams and get to the top?

[@EtchedActuarial]

That's dependent on the company that you work with, but you can expect increases in salary based on experience and by passing exams. Take a look at this post: etchedactuarial.com/much-actuaries-make/ You can also search up salary ranges based on location and other factors to get a better estimate!

[@i7DidEverything]

Currently, im on my summer holiday, going up to college(uk) and i aspire to be an actuary, im just looking for where to start

[@EtchedActuarial]

Hope this helped give you an idea on where to begin!

[@aurelianaidoo2467]

Hi, im a grade 11 student and i start applying to college soon. would you recommend taking a 3 year bachelors degree or 4 year?

[@EtchedActuarial]

Getting your Bachelor's degree is what matters, so either 3 or 4 year programs are fine :) Best of luck with your college applications!

[@VikramSingh-tf5gb]

If I pass some exams (for example 3) and fail the next one (exam 4) , then would i have to give all exams from the start or give the exam that I failed ?

[@EtchedActuarial]

Just the exam that you didn't pass!

[@TSBilliards86]

So I wasted the last 11 years not doing this. I have a degree in statistics. passing 3 exams seems easier than looking at it as completing all 10 first.

[@johnkempel1171]

Read your comment and I'm curious if you decided to pursue being an actuary. I'm considering it as well, currently working in mechanical engineering. Cheers

[@nivanshumahajan5622]

Hi Brea, I am Nivanshu I was searching about becoming an actuary. I have a question for you . I just get admission to a community college.But I really don’t know what to Do next. Can you help me for that, what should I study from community college to become an actuary??

[@EtchedActuarial]

Hi Nivanshu, take a look at this post: etchedactuarial.com/best-actuary-major/

[@nivanshumahajan5622]

@@EtchedActuarialHi Brea, I saw post and it is a little bit helpful. I have a Doubt .Can you tell me that What should I do first? How to start this actuarial journey ? What should I Do in college??

[@EtchedActuarial]

​@@nivanshumahajan5622 You may be interested in joining the Actuary Accelerator Community. You can start learning some technical skills and gain more insight in this field. We also have monthly Q&A calls where you can ask any questions you have! More information can be found here: etchedactuarial.com/accelerator/

[@thaliaortega8241]

Is there a course I have to take before taking the exams? Who provides the courses? Soa?

[@EtchedActuarial]

Hi Thalia! You don't need to take a course before taking the exams, but you'll probably want to get started on your Bachelor's degree first (if you haven't yet)! :) That way, you can apply some of the math skills you learn when you're studying for the exams.

[@sarvagyasharma2711]

Should I pursue my bachelor's degree in Actuarial Science from a high reputated college or I can pursue it from any college which provides bachelor's degree in Actuarial Science?

[@etchedactuarialinc4929]

That's a hard question to answer. It depends on a lot of different factors like the courses offered, whether there are internship or co-op programs, if there's support for job search, and your personal circumstances. Definitely get more information from the institutions and speak with your family to help you make the decision.

[@manojv5091]

Im studying bcom right now. I wanna become an actuary... Any suggestions or guideline please???

[@EtchedActuarial]

Definitely! This video goes into the steps to become an actuary, and the one below also gives a brief summary of things you can start working on now kzbin.info/www/bejne/l5Oyf3WOd7CDadU

[@GL-gk9sn]

i have a degree in Chemical Engineering and Business Management, would i need to do a commerce degree to become an Actuary?

[@EtchedActuarial]

No you don't need a commerce degree to become an actuary!

[@MrFrazerz]

Nowadays the quantity of people who have a bachelors degrees is growing. Do you think employers will start wanting people with Masters degrees instead of bachelors degrees in the near future?

[@EtchedActuarial]

Besides getting a Master's degree, there are lots of other things you can do to be a more competitive candidate! These are all explained in the Actuary Accelerator Community here: etchedactuarial.com/accelerator/ Also take a look at this to learn more about why doing a Master's may not be the best option: etchedactuarial.com/no-masters-actsci/

[@kaiman5359]

First!

[@navjotsidhu4985]

Mam i just want to know which acturial exam can give while staying in australi

[@EtchedActuarial]

I'm not too familiar with the actuarial environment in Australia. It'd be best to check with the local organization there!

[@213sudhan8]

Which are all the colleges provides actuary degree in India?

[@EtchedActuarial]

Sorry that's not something I'm familiar with!

[@213sudhan8]

@@EtchedActuarial ok mam

[@sejalpatil5574]

Hello mam... Now I am Persuing the degree course BSc 2 nd year... I need to be an actuaries but I don't know... How to take the steps... Forward I don't know.. What to do... Mam I need ur help.. To suggest me what should I do I hope u will reply me...

[@EtchedActuarial]

No worries, it can be hard to know how to start! I'd recommend learning Excel first, then looking for a job where you can get related experience. If you're looking for a step-by-step guide to help you every step of the way, I think the AAC would be perfect for you! You can check it out and sign up for the waitlist here: etchedactuarial.com/accelerator

[@chicaunica6004]

Hii Mam, This is Hanu. I'm now preparing for ACET.............any tips please..🙏🙏

[@EtchedActuarial]

Hey Hanu! Not too familiar with the ACET process, but take a look at this channel the Etched Actuarial blog for some study tips. Good luck! etchedactuarial.com/blog/

[@raginigupta780]

I wanna to be actuary

[@asmakhalid2356]

Hi. I have a PhD in Mathematics from Pakistan. I'm 36 and immigrating as a permanent resident to Ontario Canada. How can I be an actuary. I want to change my career path.

[@asmakhalid2356]

I do have the Canadian equivalence of my degree. Shall i get an MSc in Actuarial science or start a job right away as i reach canada ?

[@EtchedActuarial]

As long as you have a Bachelor's degree that should be sufficient. Take a look here for why it's not recommended to pursue a Master's: etchedactuarial.com/no-masters-actsci/

[@anushkac.a.9862]

How many years does it take to become an actuary?

[@EtchedActuarial]

It takes 7-10 years to become a fully qualified actuary, but you can get your first actuarial job way sooner than that. See this post for more info: etchedactuarial.com/how-long-does-it-take-to-become-an-actuary/

[@chucks2018]

How many months @ $39/mo?

[@Social_Brat]

Does your gps matter?

[@213sudhan8]

Acturiay degree is either PG course or UG course?

[@EtchedActuarial]

What do you mean by PG or UG course?

[@213sudhan8]

@@EtchedActuarial PG means Post Graduate UG means Under Graduate... UG course are studied after we complete 12 th class whereas PG course are studied after we completing UG course... Now my question is mam " Shall we study acturiay degree after the UG Or 12th class? "

[@EtchedActuarial]

@@213sudhan8 There are both undergraduate and post graduate options, but in North America an undergraduate degree is sufficient. You can take a look at recommended majors here etchedactuarial.com/best-actuary-major/

[@melinakyros7874]

Can you retake the exams?

[@EtchedActuarial]

Yep! You can retake them as many times as you need to pass :)

[@ANIME-tf1mn]

min 10 says all the steps

[@raginigupta780]

Hi mam I'm indian

[@moisesabbud5217]

what is BBA?

[@EtchedActuarial]

Hey Moises, are you referring to VBA? It's a programming language used to automate tasks in Excel.

[@asmakhalid2356]

Exam P Fm IFM

[@EtchedActuarial]

Those are the first 3 SOA/CAS exams.

[@mqosu]

Question, why continue taking exams if you’re already in your first job? I mean.. you already got the job lol.

[@EtchedActuarial]

Hi! :) Great question! When you get your first job, you actually haven't received all the training you'll need to become an actuary. You're an "actuarial student" as a lot of employers call it! So, employers expect you to keep taking exams and getting credentials to become a fully qualified actuary. This blog post explains it in more detail: etchedactuarial.com/steps-to-becoming-an-actuary/ Hope this helps!

[@phy6thinker329]

Step 1 ok next become A actuary

[@snehajacob9194]

Hey Brea, really really want to write to you to ask some questions. Would appreciate it if you could provide your email id. Thankyou....love your videos too

[@EtchedActuarial]

Hey! Feel free to send an email to [e-mail]

[@halbrauncertifiedtherapist2426]

My mum might lose because my dad is faking a debt