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Helping you find a career in the actuarial trainee industry

As an actuarial you will evaluate complex risks using highly developed analytical and numerical skills, as well as keeping a firm strategic eye on the future.

N Written by Navdeep

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FAQs

FAQs

What does an Actuarial Trainee do?

As a trainee, you will perform tasks to support senior colleagues

Carry out calculations
Make financial projections based on pre-constructed models
Make your own financial models
Evaluate the different models and decide which are most suitable
Analyse results and reports
Draft reports to feedback to your senior colleagues
Study for your professional qualification, e.g. making notes on the job
Preparing presentations, reports, valuations and quarterly updates
Monitoring risk within trading positions
Advising on issues, e.g. the selection of investment managers and directors

What skills and interests should an Actuarial Trainee have?

Great numeracy skills
Confidence with calculations
Highly self-motivated
Great at problem solving
Hard working and determined
Excellent communication skills
Flexible and foresighted

What hours does an Actuarial Trainee typically do?

The working hours are typically advertised as 9am - 5pm. However, you should expect to work overtime.

What environment is an Actuarial Trainee based in?

You are likely to be higher by large financial institutions, and therefore, you will be office-based.

How much does an Actuarial Trainee travel?

Travel opportunities will depend mostly on the size of the company which determines their offices around the UK. If you are with a large company then you may be required to travel between offices and visits to corporate clients may also be necessary.

How much does an Actuarial Trainee get paid?

Starting salaries for graduates will range between £25,000 to £35,000 and the average salary is £32,000. Salaries will vary according to location and they are typically higher in London to reflect the higher cost of living.

Once you are newly qualified, you can earn between £40,000 and £55,000. When you have successfully gained around 10-15 years' worth of experience, salaries are typically more than £60,000.

Senior directors can expect salaries that exceed £200,000.

Perks & benefits

Companies usually pay for all examinations.

What qualifications does an Actuarial Trainee need?

The minimum requirement for this role is a bachelor's degree, particularly for candidates with strong numerical skills.

Useful subjects to study at school & university

Actuarial Science and/or Actuarial Mathematics
Business or Finance
Economics
Engineering
Mathematics and/or Statistics
Risk Management
Science, e.g. Physics and Chemistry