Need Actuarial Career Advice? www.fiverr.com/share/kLvaXA Actuarial Statistics on Udemy www.udemy.com/course/actuarial-statistics-exam-pct3/?referralCode=C3DC46A18BB4C5BABB88
1. Life Actuary 0:55 2. Heath Actuary 1:53 3. General Actuary 2:39 4. Pension Actuary 4:25 5. Finance Actuary 5:25 6. Bank Actuary 6:26 7. Enterprise Risk Actuary 7:23 This video has been very Helpful. Thanks you!
my advice to any aspiring actuary... go for a SMALL company. I work in GI. In GI, you have further subdivision. Pricing actuary, reserving actuary and capital actuary. I'm sure this must be the same for life and pensions also. I can't talk about the non-traditional roles. The point is, if you work for a small company, you will get to do all jobs and see the whole picture, if you work in a larger GI company, you'll be pigeon holed, eg you're a GI reserving actuary or a GI pricing actuary. In the five years I have been in the field, I have done IT, reserving, pricing, capital, reinsurance and investment, I am now looking at machine learning. Think SMALL!
You also get a consultant actuary who helps out smaller companies. They work for accounting firms like EY or KPMG. They are usually Life Actuaries who help audit the books of Life Insurance companies.
MJ the Student Actuary do you have any advises for a new guys that try to study in actuarial science? I'm a Malaysian so yeah can you give me some advise or tips in order to face this course in the university life.. Thanks MJ the Student Actuary
+Mohit Bharati Yes data analytics is a key skill for every actuary. It is covered in great detail in one of the core subjects that all actuaries have to do. Its called Advanced Statistics and its code is CT6. I've just made a fun video about how an actuary can use Big Data analytics with Facebook to predict who they will marry.
Does airline hire actuary? What do you call them? What actuary usually do in airline? Does actuary in airline has a high demand and paying?I would love to work in an airport with my mathematical skills.
Discovery' Logo: the pyramid is based on the levels of their various reward programmes (Vitality). You know, how you have to work and do stuff and get assessments contantly to upgrade your status from "Blue" to "silver" to "gold" etc.
I was at Discovery earlier this year and I pointed out to some of the employees that the logo is a pyramid and they were so surprised because they hadn't realised it. But then I only realised it when someone pointed it out to me!
NirajC72 I have some chapter summaries of CT1. Check them out and if you need further explanation on any of the concepts, let me know in the comments. I will either reply in the comments or make a video about it :-)
Just a quick comment, in my opinion there are 2 types of general actuaries, a pricing actuary and a reserving and Capital modelling actuary (in the UK they even split st3 into 2 subjects, st7 and st8) and from my experience in the field, the work is very different and there aren't many people if any who are doing both at the same time
in South Africa they combined the two subjects into one, but you are correct, they are two distinct areas and most big companies have dedicated actuaries to each area.
+MJ the Student Actuary South Africa didn't technically combine the 2, at the time SA did their own fellowship subjects the UK also had it as one subject, st3, thereafter the UK split it and SA just didn't follow suite
So im a senior in high school, and i reeeally love math, and what i was always told is that engineering involves the most math and would be really hands on interesting type stuff, but then i also just heard that actuaries deal with a lot of math too. so im curious as to what kind of math. is it like basic adding subtracting percentage stuff or like deep calculus based? also, what is it like in a typical day of work? cubicles? at home paperwork? one-on-one explanations about risk with designated clients?
My typical day of work involves problem solving and communicating with clients from around the world. I haven't used pure maths on the job yet. But maths is important as it makes your mind intellectually fit and develops logic. The nice thing about the profession is that your job is what you want it to. There are actuaries who work in cubicles, there are actuaries who travel, there are actuaries who do maths all day and there are actuaries who engage with clients. Each area an actuary can go into requires these various roles. The maths for the statistics is quite difficult but the maths for finance is fun because the actuaries have developed their own notation which is superior to traditional maths formulae.
I honestly love this proffession, i love how broad it can be and the options that it comes with. But i have been really shocked by the amount of people warning me to not shift my interest to it wholeheartedly. Some say its extremely difficult and you wont even last first year. Right now i'm very much confused/ more as in scared off by all the public commentary with regards to actuary. What is your take on Actuary MJ since you have had a taste of it? What kind of skills do you have to have to be formidable with regards to actuarial science?
Khanya Ngxabani You are right. It is an awesome profession and it requires lots of hard work. If you decided to do it, then you need to give it everything. It will be frustrating and difficult while you study and your friends party but it will be worth it in the end. Give it a go!
I was a Math and Accounting major, but I did drop math because I knew you could still be an actuary dealing with finances. Of course I didn't know it was this many type of actuarial science jobs. What is the best type of actuary for under my field?
Hey, I was wondering if it's necessary to study Math in your undergrad to continue on into Actuarial Science. Are there Masters programmes where you don't need Math in your undergrad?
maths is very important. think of it like this. just like a soccer player needs to be fit to play a game, so an actuary needs to be good at maths to continue with the rest of the course. later subjects don't rely on maths that much but for the technical subjects it is critical.
Hi @MJ the Fellow Actuary. What is your opinion of the NHI plan SA has and its consequences for medical aid companies(such as Discovery) and in result medical aid actuaries?
Honestly I don’t know. The health and medical aid side of Actuarial Science always left me confused. And the NHI is mixed with a good dose of politics that makes it even harder to comprehend.
@@MJtheFellowActuary I agree. One thing is for sure, the government will need the expertise of health and medical actuaries to help with the risk , economic and actuarial viewpoint of things -otherwise there will be a great lack of efficiency in minimizing costs by reducing risk. I think it could make a very interesting debate topic. Thanks for your reply! Loving your channel - from NWU
Id like to be an actuary but i live in Florida and am going to go to a regular state u..I'm also 26..i am so close to just playing it safe and getting an accounting degree...is going for act sci worth it?
Hey Man thanx for your videos ... im doing my second year of Medicine at Wits Uni.. like im doing well in my studies but i realise that this just might not be for me Biology doesnt do it for me and i get excited with numerical courses ... before i took on to study this degree i was caught inbetween Actuary and Medicine and got in for both and took on Medicine ... like would you recomend the switch after 2 years of not doing any type of maths (except for physics in 1st year last year) or should i stay in this degree? and what are my chances of being allowed to transfer after 2 years of no maths ... my NBT score is also in the high 80s for Maths
It depends. Some Actuaries are client facing and have to do presentations, others work in the back office and don't need to talk to clients. But most actuaries need to be able to work well in a team and communicate to the various departments within a company
hey MJ i'm currently doing Accounting Science at Wits University in South Africa but i wanna change to mathematics degree because my initial motivation in doing accounting was that i was gonna deal with numbers and math only to find it wasn't what i thought it would be. So looking at looking at the modules for mathematical science and actuarial science there isn't much difference except majors in math and the other in actuarial science. in my heart i wanna go for actuarial but i'm afraid because there's all these talks on how difficult it is and since i'm already changing a degree i can't afford to fail... I guess what i'm asking for here is do you have advice on what can I do??? If there's anyone else with any advice you all welcome to comment
MJ just out of curiosity are you interested in taking the CERA qualification? Many actuarial students who I have spoken to have said good things about it and would recommend it to most actuaries to take with their specializing ST too.
Hei MJ, I'm a regular viewer of your videos. I'm from Bangladesh, I've passed CT1 and CT3 in the last year. Will be sitting for CT4 and CT5 in this month (April 2017). Moreover, I've completed my graduation in Mathematics and Post graduation in Applied Mathematics from the University of Dhaka, Bangladesh. FYI, Actuarial profession is very rare in my country. So I'm planning to move in US to pursue MS in Actuarial Science. Meanwhile I hope to pass more exams. Is it will be possible for me to get involved in actuarial job in the US then? TIA.
All the best for the exams!! lots and lots of American companies are hiring actuaries. But before you decide on the US, consider South Africa, we have a very strong financial sector and are always in need of strong actuarial talent.
+Nikita Adivhaho Yes of course. Accounting and IT help but they are not essential and you will learn it all at Uni. Aim for high marks in Maths, Science and English.
starting an investment bank has more to do with who you know rather than what you know. At the end of the day its a financial relationship institution and you need connections and a solid network to set up your own investment bank
MrClutched I would believe so. If you pass the fellowship in South Africa, the actuaries in the UK will see you as an equal. I would recommend doing the South African fellowship if you live here, otherwise the UK or your local country's one.
hi man awesome videos , i really learned alot of info from you :D.....i was wondering about the order of the actuarial exams and how they interact with getting like the associate degree and the fellowship ........just the order of the exams thanks :D
+Inferno Hail You can do the exams in any order but they recommend you do all the CT's first starting at 1 and ending with 8 and then do all the CA's then do the 2 ST's and end off with the SA
+Ankit Sharma it depends on what country you are from. South Africa offers a banking fellowship, no other country does, but the world does offer something called CERA qualification. Check that out
+darklordinateur Good point. They would be an extension of either the Life Actuary or the General Actuary depending if the reinsurance is on Life Insurance or General Insurance.
Indeed, but you should also add some extension of the Financial Actuary dealing with securitization which is very specific to the Reinsurance world. I might also add another type of actuary, the "Reinsurance business" Actuary which would be an hybrid between en actuary and an underwritter since Reinsurance has much more business related topics and a lot of notions going with it. Great work though!
Trustees of a pension fund will consult with a Finance Actuary on which Asset Manager to go with. The Asset Manager will likely be a CFA. So similar roles, but different on the investment chain.
Did you need Physical Science to actuarial science....if so ..why? Because i dont think that physical science in high school is compulsory to study Actuarial science
You don't necessarily need Physical Science to get admission in an Actuarial Science program. UFS, UP, NWU, UJ, Stellenbosch and UCT don't require Physical Science, they only need Maths and English. It's only WITS's Actuarial Science program that requires Physical Science.
Hi MJ May i ask a Q please ?! How someone studies actuarial math in collage Specialized in any one you said , is it depend on training or what ?! Thank you
A lot of the maths we use is just the standard maths you come across in University, but there is also some specific maths that only actuaries use. This has some actuarial notation and it can be quite tricky to learn without a textbook. Check out a website called ActEd.co.uk they have lots of good specific material :-)
What can you tell me about the average starting salaries? what about salaries after 10 years or when you pass all the exams? Thanks! if you don't want to answer on here please comment with an email.
mickdafan Hey there. The average starting salary depends very much on where you live. British and American Actuaries earn more than South African Actuaries to start off. However this is because of the exchange rate and costs of livings. Also actuarial salaries can vary between cities in a country. Actuaries in Johannesburg earn more than actuaries in Cape Town. After 10 years your salary depends on how good you are. If you establish a good reputation and can show that you can add value to a company then your salary will be huge. What city are you from?
Starting salary can be up to $50 000 annually in the big cities in the US. Starting salary here in South Africa is like half that. Also depends on how well you do at university. Top students will start will a higher salary.
mickdafan The pay is much more than $50,000 per year. After each exam completed, most employers give a salary increase. With all exams passed, you can expected to make closer to 6 figures with room to grow..
uncaka Yes you are correct. I was reading yesterday that a Leadership Pension Actuary can earn up to 250 000 British pounds. But to earn that you need work experience and a good reputation of being a genius
Difficult to study? Mathematics in actuarial studies is quite elementary to be honest....everyone with enough patients can study it.....good informative video though :)
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1. Life Actuary 0:55
2. Heath Actuary 1:53
3. General Actuary 2:39
4. Pension Actuary 4:25
5. Finance Actuary 5:25
6. Bank Actuary 6:26
7. Enterprise Risk Actuary 7:23
This video has been very Helpful. Thanks you!
Appreciate the list with the times :) thank you
my advice to any aspiring actuary... go for a SMALL company. I work in GI. In GI, you have further subdivision. Pricing actuary, reserving actuary and capital actuary. I'm sure this must be the same for life and pensions also. I can't talk about the non-traditional roles. The point is, if you work for a small company, you will get to do all jobs and see the whole picture, if you work in a larger GI company, you'll be pigeon holed, eg you're a GI reserving actuary or a GI pricing actuary. In the five years I have been in the field, I have done IT, reserving, pricing, capital, reinsurance and investment, I am now looking at machine learning. Think SMALL!
What are the main tasks for a capital actuary?
Think BIG by Thinking SMALL !! Nice one haha
Javier García I guess determining capital levels necessary for the company to hold, and optimising them by suggesting/evaluating reinsurance programs
You also get a consultant actuary who helps out smaller companies. They work for accounting firms like EY or KPMG. They are usually Life Actuaries who help audit the books of Life Insurance companies.
MJ the Student Actuary do you have any advises for a new guys that try to study in actuarial science? I'm a Malaysian so yeah can you give me some advise or tips in order to face this course in the university life..
Thanks MJ the Student Actuary
i thought this was gonna be one of those videos about stereotypes. Thanks, though, very informative!
So you had a prejudice about the video being about stereotypes? Lol
I've been watching your videos for a while now . I find them very informative and fun to watch . Thanks for sharing your thoughts and information!
Chuey Vang Thank you so much for your kind words. If there is a specific video that you would like me to make, let me know and I will consider it :-)
Hey MJ!
How about actuaries working in Data Science / Data Mining & Big data Analytics
what specific skill-set do you think would be valuable
+Mohit Bharati Yes data analytics is a key skill for every actuary. It is covered in great detail in one of the core subjects that all actuaries have to do. Its called Advanced Statistics and its code is CT6. I've just made a fun video about how an actuary can use Big Data analytics with Facebook to predict who they will marry.
Hi, Just wanted to say, You're doing a great job there! Keep it up.. cheers!!!
Dheeshana Koswatte Thank you so much :-) Means a lot.
that's great news, i now have a reason to study actuarial science
Does airline hire actuary? What do you call them? What actuary usually do in airline? Does actuary in airline has a high demand and paying?I would love to work in an airport with my mathematical skills.
MJ, great video, currently starting to study to get my actuarial certifications, video helped me know what path I want to take
Thanks so much! and all the best on the journey!!
Discovery' Logo: the pyramid is based on the levels of their various reward programmes (Vitality). You know, how you have to work and do stuff and get assessments contantly to upgrade your status from "Blue" to "silver" to "gold" etc.
I was at Discovery earlier this year and I pointed out to some of the employees that the logo is a pyramid and they were so surprised because they hadn't realised it. But then I only realised it when someone pointed it out to me!
Hi MJ, love your videos. Very interesting and informative. Please explain this cocept of exemptions?
I hope I can work in government sector as an actuary as I'd like to have an impact on public policy and economic development.
MJ do you have any CT1 videos for beginners, love the channel by the way keep making awesome videos!
NirajC72 I have some chapter summaries of CT1. Check them out and if you need further explanation on any of the concepts, let me know in the comments. I will either reply in the comments or make a video about it :-)
MJ please do some lectures on difficult topics of CT1.
Just a quick comment, in my opinion there are 2 types of general actuaries, a pricing actuary and a reserving and Capital modelling actuary (in the UK they even split st3 into 2 subjects, st7 and st8) and from my experience in the field, the work is very different and there aren't many people if any who are doing both at the same time
in South Africa they combined the two subjects into one, but you are correct, they are two distinct areas and most big companies have dedicated actuaries to each area.
+MJ the Student Actuary South Africa didn't technically combine the 2, at the time SA did their own fellowship subjects the UK also had it as one subject, st3, thereafter the UK split it and SA just didn't follow suite
+Tyrone Futter I just remember buying both ST7 and ST8 notes! but they constantly updating the topics in the course, so it might have change again.
Hey MJ great work!!!! wanted to know which type of actaury will be in most demand in future?
So im a senior in high school, and i reeeally love math, and what i was always told is that engineering involves the most math and would be really hands on interesting type stuff, but then i also just heard that actuaries deal with a lot of math too. so im curious as to what kind of math. is it like basic adding subtracting percentage stuff or like deep calculus based?
also, what is it like in a typical day of work? cubicles? at home paperwork? one-on-one explanations about risk with designated clients?
My typical day of work involves problem solving and communicating with clients from around the world. I haven't used pure maths on the job yet. But maths is important as it makes your mind intellectually fit and develops logic. The nice thing about the profession is that your job is what you want it to. There are actuaries who work in cubicles, there are actuaries who travel, there are actuaries who do maths all day and there are actuaries who engage with clients. Each area an actuary can go into requires these various roles. The maths for the statistics is quite difficult but the maths for finance is fun because the actuaries have developed their own notation which is superior to traditional maths formulae.
where does retirement actuary comes ?do they come under life insurance or is it a separate domain?I'm confused
I honestly love this proffession, i love how broad it can be and the options that it comes with. But i have been really shocked by the amount of people warning me to not shift my interest to it wholeheartedly. Some say its extremely difficult and you wont even last first year. Right now i'm very much confused/ more as in scared off by all the public commentary with regards to actuary. What is your take on Actuary MJ since you have had a taste of it? What kind of skills do you have to have to be formidable with regards to actuarial science?
Khanya Ngxabani You are right. It is an awesome profession and it requires lots of hard work. If you decided to do it, then you need to give it everything. It will be frustrating and difficult while you study and your friends party but it will be worth it in the end. Give it a go!
I was a Math and Accounting major, but I did drop math because I knew you could still be an actuary dealing with finances. Of course I didn't know it was this many type of actuarial science jobs. What is the best type of actuary for under my field?
Hi MJ, I hope you could do a video about the "the institute and faculty of actuaries vs. ASSA". Thanks for your videos, I really enjoy watching them.
that's easy. ASSA is much better ;)
Thanks for the quick reply.
hey im a pilot and would i like to know what type of actuaries are best for my aviation career ?
Tanson Elias well you can check out General Insurer Actuaries who need to understand aviation risks
MJ thanks for your reply ...
Hei MJ nice videos!! you mention programming actuaries. Do you get many actuaries involved as Quants?
Very Helpful. Thank you!
Hey, I was wondering if it's necessary to study Math in your undergrad to continue on into Actuarial Science. Are there Masters programmes where you don't need Math in your undergrad?
maths is very important. think of it like this. just like a soccer player needs to be fit to play a game, so an actuary needs to be good at maths to continue with the rest of the course. later subjects don't rely on maths that much but for the technical subjects it is critical.
Can I ask you some more info about wellness actuary? Very interesting :)
Hi @MJ the Fellow Actuary. What is your opinion of the NHI plan SA has and its consequences for medical aid companies(such as Discovery) and in result medical aid actuaries?
Honestly I don’t know. The health and medical aid side of Actuarial Science always left me confused. And the NHI is mixed with a good dose of politics that makes it even harder to comprehend.
@@MJtheFellowActuary I agree.
One thing is for sure, the government will need the expertise of health and medical actuaries to help with the risk , economic and actuarial viewpoint of things -otherwise there will be a great lack of efficiency in minimizing costs by reducing risk. I think it could make a very interesting debate topic.
Thanks for your reply!
Loving your channel - from NWU
is pricing and reserving different actuaries?
Id like to be an actuary but i live in Florida and am going to go to a regular state u..I'm also 26..i am so close to just playing it safe and getting an accounting degree...is going for act sci worth it?
Yes go for it! It’s hard, but worth it
Thanks
How can i read actuarial newspaper or actuarial magazine.
Well Done MJ !!!
Great work man, thanks for sharing.
Hey Man thanx for your videos ... im doing my second year of Medicine at Wits Uni.. like im doing well in my studies but i realise that this just might not be for me Biology doesnt do it for me and i get excited with numerical courses ... before i took on to study this degree i was caught inbetween Actuary and Medicine and got in for both and took on Medicine ... like would you recomend the switch after 2 years of not doing any type of maths (except for physics in 1st year last year) or should i stay in this degree? and what are my chances of being allowed to transfer after 2 years of no maths ... my NBT score is also in the high 80s for Maths
Chat to the Actuarial Professors. You could always specialise as a Health Actuary and your medicine background will be a huge advantage!!
Thanx man I alredy spoke to the department registrar here at Wits ... got positive feedback .. thanx big time
Bank actuary is basically a quant?
Thank you for sharing; I am interested in actuary; do Actuary need to give presentation??? I am not good in speak in public!
It depends. Some Actuaries are client facing and have to do presentations, others work in the back office and don't need to talk to clients. But most actuaries need to be able to work well in a team and communicate to the various departments within a company
hey MJ i'm currently doing Accounting Science at Wits University in South Africa but i wanna change to mathematics degree because my initial motivation in doing accounting was that i was gonna deal with numbers and math only to find it wasn't what i thought it would be. So looking at looking at the modules for mathematical science and actuarial science there isn't much difference except majors in math and the other in actuarial science. in my heart i wanna go for actuarial but i'm afraid because there's all these talks on how difficult it is and since i'm already changing a degree i can't afford to fail... I guess what i'm asking for here is do you have advice on what can I do??? If there's anyone else with any advice you all welcome to comment
have a go at becoming an Actuary. it's something you will never regret. don't fear failure.
I love your work mj
thank you for the great video but i have to ask were you eating an apple
is it possible for me to be an Actuary one day if I'm doing BSc(Statistics and Applied Mathematics)?
Absolutely.
Yes
MJ just out of curiosity are you interested in taking the CERA qualification? Many actuarial students who I have spoken to have said good things about it and would recommend it to most actuaries to take with their specializing ST too.
yes I think it's awesome. I wrote the ST9 exam last month. I really enjoyed the subject matter. maybe I should do a video on what it's about.
Nice and good luck with your results and your revision, what exams have you passed so far?
CT1 to CT8. ST5, CA1, CA3 so far.
Hei MJ, I'm a regular viewer of your videos. I'm from Bangladesh, I've passed CT1 and CT3 in the last year. Will be sitting for CT4 and CT5 in this month (April 2017). Moreover, I've completed my graduation in Mathematics and Post graduation in Applied Mathematics from the University of Dhaka, Bangladesh. FYI, Actuarial profession is very rare in my country. So I'm planning to move in US to pursue MS in Actuarial Science. Meanwhile I hope to pass more exams. Is it will be possible for me to get involved in actuarial job in the US then? TIA.
All the best for the exams!! lots and lots of American companies are hiring actuaries. But before you decide on the US, consider South Africa, we have a very strong financial sector and are always in need of strong actuarial talent.
+MJ the Student Actuary, what kind of actuary works in compensation insurance?
A General Non-Life Actuary will most likely work in that area :-)
Thanks :)
Hi MJ, I'm doing mathematics, physical sciences, life sciences and geography at high school. Can be able to do actuarial science at university?
+Nikita Adivhaho Yes of course. Accounting and IT help but they are not essential and you will learn it all at Uni. Aim for high marks in Maths, Science and English.
Okay, thanks hey
is it possible to start your own investment bank with this course?
starting an investment bank has more to do with who you know rather than what you know. At the end of the day its a financial relationship institution and you need connections and a solid network to set up your own investment bank
Mj, May i ask?
What is the difference between taking UK courses Actuaries and Other countries (US,Canada) Courses Actuaries?
they all very similar but differ with fellowship exams and with the additional courses you have to do. each fellowship/course is country specific
+MJ the Student Actuary thank for replying. Is this fellowship easily transferable? and maybe from ur experience which 1 would you recommend more?
MrClutched I would believe so. If you pass the fellowship in South Africa, the actuaries in the UK will see you as an equal. I would recommend doing the South African fellowship if you live here, otherwise the UK or your local country's one.
And i will graduate next semester and i do not no what is the skills that i have to learn if you can help me Pl
hi man awesome videos , i really learned alot of info from you :D.....i was wondering about the order of the actuarial exams and how they interact with getting like the associate degree and the fellowship ........just the order of the exams thanks :D
+Inferno Hail You can do the exams in any order but they recommend you do all the CT's first starting at 1 and ending with 8 and then do all the CA's then do the 2 ST's and end off with the SA
MJ the Student Actuary thanks man :)
What do you call someone who specialises in mathematical modelling
difference between programming actuaries and data scientist. An you didnt tell about Predictive model building
Hi. Can u plz guide how can I change my career progression from a banker to actuary at 34 yes of age, Stats being my major during academic.
+Ankit Sharma it depends on what country you are from. South Africa offers a banking fellowship, no other country does, but the world does offer something called CERA qualification. Check that out
What about Reinsurance Actuaries :-)
+darklordinateur Good point. They would be an extension of either the Life Actuary or the General Actuary depending if the reinsurance is on Life Insurance or General Insurance.
Indeed, but you should also add some extension of the Financial Actuary dealing with securitization which is very specific to the Reinsurance world. I might also add another type of actuary, the "Reinsurance business" Actuary which would be an hybrid between en actuary and an underwritter since Reinsurance has much more business related topics and a lot of notions going with it. Great work though!
darklordinateur Yeah securitisation is something I'm very interested in, however havent had any work experience in that area yet.
Indeed, I highly recommand you to focus on CAT bond securitisation. This is in my opinion, the most interesting field for it.
darklordinateur Yeah I will do some research and maybe make a video on CAT Bonds :-)
hey mj ur video is informative , I want to get into this field can u plz guide me I am 12th pass with 85% in mathematics so can I purse this course
Try get your mathematics up to 95%. the higher the better. but yes 85% is good
+MJ the Student Actuary so I guess 70 means I have no chance 😢
@@FemtoBlaster yeah no chance. The minimum entry mark for maths is 80%.
What's the difference between a Finance Actuary and a Certified Financial Analyst?
Trustees of a pension fund will consult with a Finance Actuary on which Asset Manager to go with. The Asset Manager will likely be a CFA. So similar roles, but different on the investment chain.
Did you need Physical Science to actuarial science....if so ..why? Because i dont think that physical science in high school is compulsory to study Actuarial science
You don't necessarily need Physical Science to get admission in an Actuarial Science program. UFS, UP, NWU, UJ, Stellenbosch and UCT don't require Physical Science, they only need Maths and English. It's only WITS's Actuarial Science program that requires Physical Science.
"They can calculate when you will die"
0_o
MJ do you have an email address where I could email you my story and queries in regards to the actuarial science profession?
how do i get in touch with you?
send me an email bayman1991@gmail.com :)
If I take actuary we need to study all types of actuary
I'm south African and when I'm older I want to become and actuary
All the best!! Let me know how it goes!!
Hi MJ
May i ask a Q please ?!
How someone studies actuarial math in collage Specialized in any one you said , is it depend on training or what ?! Thank you
A lot of the maths we use is just the standard maths you come across in University, but there is also some specific maths that only actuaries use. This has some actuarial notation and it can be quite tricky to learn without a textbook. Check out a website called ActEd.co.uk they have lots of good specific material :-)
Sign me up for Gaming Actuary
can I become finance actuary without doing any PG course?
which one is paid more , the bank actuary or the enterprise risk actuary
+Reginald Chikwenhere The one that does a better job ;-) Salaries depend on experience and how well the actuary can negotiate with their boss.
What can you tell me about the average starting salaries? what about salaries after 10 years or when you pass all the exams? Thanks! if you don't want to answer on here please comment with an email.
mickdafan Hey there. The average starting salary depends very much on where you live. British and American Actuaries earn more than South African Actuaries to start off. However this is because of the exchange rate and costs of livings. Also actuarial salaries can vary between cities in a country. Actuaries in Johannesburg earn more than actuaries in Cape Town. After 10 years your salary depends on how good you are. If you establish a good reputation and can show that you can add value to a company then your salary will be huge. What city are you from?
I currently live near Milwaukee, Wisconsin in the US
Starting salary can be up to $50 000 annually in the big cities in the US. Starting salary here in South Africa is like half that. Also depends on how well you do at university. Top students will start will a higher salary.
mickdafan The pay is much more than $50,000 per year. After each exam completed, most employers give a salary increase. With all exams passed, you can expected to make closer to 6 figures with room to grow..
uncaka Yes you are correct. I was reading yesterday that a Leadership Pension Actuary can earn up to 250 000 British pounds. But to earn that you need work experience and a good reputation of being a genius
please tell me your LinkedIn profile... I'll love to follow you on LinkedIn.. thnx
Haha its Michael Jordan, although its quite a common name!!
Difficult to study? Mathematics in actuarial studies is quite elementary to be honest....everyone with enough patients can study it.....good informative video though :)
Ok so are you an actuary yet?
No. I opened my own business and hire actuaries now :)
@@B.A.Gondal I'm truly impressed
Hey MJ!
How about actuaries working in Data Science / Data Mining & Big data Analytics
what specific skill-set do you think would be valuable
Hey MJ!
How about actuaries working in Data Science / Data Mining & Big data Analytics
what specific skill-set do you think would be valuable