I have a PhD in Mathematics, strong knowledge of statistics, and an assurance from my parents that they will support me during the process of obtaining actuarial qualifications.
Where do I start?
How much do the tests cost?
Can I be self – employed?
Haven’t you been given this link before in your previous threads? http://www.beanactuary.org/
And here’s a bonus link - How to Become an Actuary
And what the heck, here’s a third link just for yuks - How to Become an Actuary (with Pictures) - wikiHow Life
Thanks – all bookmarked and studying.
Ok, I just asked the two actuaries and an exam-taker sitting in my vicinity and they say you can be self-employed but it would probably be in the role of a consultant or you could be a recruiter. However, to do that you have to have the experience first. And you can’t issue an opinion without ever having worked in a structured capacity.
My advice is to get a job at an insurance company. if you haven’t already taken some exams you might be starting out as something like a “data analyst” or “business analyst” or some similar title. It would be best to get in a pricing or reserving department if you can but you might have to start out in a product management type data role. The company will likely pay for your study materials and exams and will often give you some work time for studying.
Make sure you know what the company’s policy is if you fail exams. I know of one company that fires you after two failed exams, even if your work is up to snuff otherwise. The companies I’ve worked for have been more lenient.
There are also consulting firms that insurance companies hire to audit their work that use actuaries.
There aren’t a ton of other industries that use actuaries. In our conversation there was a mention of things like water utilities and big data mining (for which no one could come up with a specific example). beanactuary.org has a list.
It’s actuary not very difficult.