Swati Rajmohan

Will commerce stream suffice me to become an actuary?

Will I have to take extra computer courses as well?

by Swati Rajmohan
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RE: Will commerce stream suffice me to become an actuary?

Deepti Sharma
Deepti Sharma
Verified Career Expert
Career Counselor & Volunteer at Manovikas Kendra
  • Hyderabad


Hi

You must have seen, heard and read about companies which provide insurance cover to policy holders in case of any eventuality like accidents, hospitalization, household hazards, thefts or death and still others who look after investment schemes, employee benefits, retirement benefits and pension schemes. The policy holders are required to pay a fixed amount as installments at regular intervals and later they get benefits on policy completion.

Do you ever wonder, who do all these calculation and who designs these plans.
This is what a actuary does.


An actuary has to combine the skills of a statistician, economist and financier and employ techniques of probability, compound interest, law, marketing, management etc to predict the outcome of future contingencies and design solutions to lessen the financial severity of such events.


Eligibility: You need to have +2 with at least 85% of marks in maths.
Or.
Graduate or Post Graduate with subjects like Mathematics, Statistics, Economics, Computer Science, Engineering, MBA (Finance) and alike.

Course: A bachelors , master's or diploma course can be done.

Jobs:
An Actuary works in LIC, GIC, ESIC, Banks, Stock Exchanges and other financial institutions controlled by Govt. & Private bodies.

Salary: Sky is the limit for this profession. Stipend for a trainee is around Rs. 25000 pm. Salary package for fresher's ranges from 6-8 lacs pa. With senior positions one can earn around 40-45 lacs pa.

Institutes:


-Actuarial Society of India
Address: 9 Jeevan Udyog
278 Dr. D.N Road
Fort, Mumbai-400001
Website:www.actuariesindia.org

-Amity School of Insurance and Actuarial Science
Address: Amity Campus
Sector 44, Noida- 201303
Phone : (0120) 4392304
Fax : (0120) 2431856
Website:www.amity.edu

* Juhu Parle Education Society (JPES)

Utpal Sanghvi School, East West Road No. 3, J.V.P.D. Scheme , Mumbai (Mumbai Dist.) - 400049
All the best
Career counselor

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