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Actuarial apprenticeships are in high demand, but if you're an organised and logical person with a good head for maths you're likely to be in with a good chance of landing one. Find out more on this page.
The average net wage of an apprentice is £200 per week. Students specifically training to work in the actuarial field can expect to earn £35,936. Other average salaries fall between £51,594 and £206,236 depending on your level and experience.
What qualifications do I need to be an Apprentice?
To become qualified as an actuary you will need to become a student member of the Institute and Faculty of Actuaries (IFoA) and pass their exams. Although most people entering into this are university graduates, recently many employers have started to offer this qualification as part of actuarial apprenticeships. The IFoA have introduced a scheme working with employers to offer this route to people directly after GCSE or A-levels. To progress into an actuarial career through a degree you will need to study for a degree in actuarial science or a similar number-based degree subject. These degree subjects will increase your chances of gaining actuarial employment:
actuarial science or actuarial mathematics;
business or finance;
mathematics or statistics;
science, e.g. physics and chemistry.
Entry requirements will vary depending on specific course and institution, but you could be asked for the following: · A-levels or equivalent at grade B or above, with mathematics often being required. · Plus GCSE’S in a minimum of five subjects at grade C or above.
What skills do I need to be an Apprentice?
To work in the actuarial field you will need to have: · strong numeracy skills · communication skills · analytical and research skills · IT skills · teamwork · ability to work alone
What experience do I need to get a job in Actuarial Apprenticeship?
Formal work experience is not essential to work in the actuarial profession but gaining some on-the-job experience can be invaluable to career progression. Some companies offer placements to students who are interested in becoming actuaries.