Actuary : Training

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More in this section

1. Job description
2. Salary and conditions
3. Entry requirements
4. Training
5. Career development
6. Employers and vacancy …
7. Related jobs

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Case studies

• Trainee actuary: Jim
• Actuarial student: Victoria Rolfe

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From the excitement of Lloyds London Market, to an advisory role with one of the world's leading consultancy firms, an actuarial career is one of the most diverse, exciting and rewarding. With a professional qualification that is recognised worldwide who knows where the future could take you. Find out more about how to become an actuary.

Most new students enter the profession by joining a company as an actuarial trainee or risk analyst at the same time as studying for professional exams. It is important to choose the area of work you are most interested in and then apply for suitable posts. A list of actuarial employers is available from The Actuarial Profession .

Student actuaries take the exams at their own pace through distance learning courses run by specialist providers and supplemented by tutorials. Many employers provide support through mentoring, coaching, study leave and meeting the costs of learning materials. Subjects studied include statistical modelling, economics and financial actuarial maths.

Qualification as an Associate member of the profession typically takes three to five years. The Associate qualification level is recognised internationally as meeting the minimum requirements to be an actuary and qualifies members to use the letters AIA or AFA. Actuaries who wish to continue their studies to an advanced level, or who wish to specialise in a particular actuarial field, may take further specialist exams to qualify as Fellows, becoming experts in areas such as investments, enterprise risk management, pensions or insurance. Exemptions from some of the exams may be awarded to students who have studied to an appropriate standard in a relevant degree, or who have studied actuarial science at postgraduate level. Fellows use the letters FIA or FFA and are sought after as experts in their chosen field.