Reasons to become an Actuary:
- Variety in work Area: One can work in sectors like Life Insurance, General Insurance, Banking, Financial Institutions, Benefit, HealthCare, Govt. Regulatory Authorities, and Individuals.
- Influential Role: Actuaries uphold highest professional standards. They are high level strategic decision maker in Multinational, National and government departments.
- Best Job Professional: Actuaries rated one of the best job by professional in US by JOBSRATED.COM.
- Insatiable Demand: Actuaries are in very high demand in India as well as in other developed countries. Even part qualified Actuaries can start their career with great salary of 4 Lakh p.a. Its highest paid profession.
- Intellectual Satisfactions: Actuary is one of the best person who can judge the economical situation in an organization through their interpretation of statistical data and socio-economic system.
Areas of Work
Actuaries have a wide range of work areas where they are demanded such as;
- Consulting Firms
• Insurance Companies
• Government Insurance Department
• Banks and Investment Firms
• Public Accounting Firms
• Colleges and Univesities
• Pension Fund Company
• Reinsurance Company
• Risk Management Companies
If I want to name some companies then these would be the names : AON, Mercer, Watson Wyatt Worldwide, HSBC, Prudential, AXA, Peternoster, RSA, RMIS, Genpact, Metlife, EXL, Mackenzie Investments, EMB, Swiss Re, Aviva, Aegon Religare, Max Newyork Life Insurance, IFFCO-TOKIO, Ernst Young, Tata Aig, Kotak Mahindra, Milliman, Dara shaw & company, Royal sundram, XL capital, HDFC, ICICI Lombard, Deloitte, Bajaj Allianz, GE Insurance, ING Vysya, Shriram, DLF, Birla Sunlife, LIC, SBI.
Darwin Rhodes Salary Guide (Indian)
Part qualified actuaries who have cleared 3-4 papers are in high demand, with starting salaries ranging from 3.5 lakhs per annum. The salary increments are based on both experience and exams passed. The increment can be quite large. Even if a student pass one actuarial exam he/she gets 10-20% salary increment in his/her annual salary.