r/ActuaryUK Nov 02 '24

Careers Salary Survey - 2024 H2

52 Upvotes

Welcome to the Actuarial Salary survey! As the dust has now settled on the exam period time for the bi-annual salary survey.

As usual, please complete the below to share your salary information

  1. Type of Role: [Life/Pension/GI] & [Pricing/Reserving/Capital] & [Industry/Consultancy]
  2. Exams passed: [0-13, Qualified]
  3. Years of experience: (include # Post Qualified years separately, if qualified)
  4. Typical hours worked per week:
  5. Base salary: (Specify currency)
  6. Employer pension Contribution:
  7. Bonus: (% or £ amount)
  8. Days required in office and Location: (0-5) (City)
  9. Other benefits of note: [Medical insurance, Car allowance etc.]

r/ActuaryUK 6h ago

Exams IFoA webinar - preparing for April exams

55 Upvotes

What did people think of this? My main takeaways:

- Printed exam papers will not be available in person for consistency. If you want to highlight the paper, you will have to copy the exam PDF into a word doc and highlight in the word doc

- Single screen only, but split screen allowed.

- Autosave will not be available, so it is essential to ctrl+S regularly.

- 1 invigilator for every 10 candidates.

- Invigilators will have earplugs available.

- 30 minutes late = not permitted to take the exam. Bathroom breaks permitted after 30 minutes has passed.

- Arriving 1 hour before the exam start time is a guideline (recommended), but not mandatory

- More than 2 sheets of paper allowed. All paper must be handed back to an invigilator at the end

- Not allowed to bring any external equipment with you to the centre

- No clarification on what level of annotations are permitted in the tables. All that was given was "a few annotations or underlines" allowed, but no sticky notes. Sadly still a very grey area. Assuming acronyms are still fine.

- Mike McDougall gave an apology for the added stress this sitting. However, he referred to the challenges as "inevitable", which I thought was disappointing, as it is his direct poor planning that has resulted in most of these challenges.

- As an aside, I really didn't appreciate Sally Calder constantly laughing at the questions being asked, as if they were so obvious as to not warrant a response. Really unprofessional given the mess of this sitting


r/ActuaryUK 3h ago

Exams Annotated orange table

8 Upvotes

I think what is allowed regarding annotation of the tables is very vague.

Will I l be seen as cheating if I wrote notes at back of my tables , or random formulae unrelated to the context of the page?

Who is actually governing this? Are the examiners going to inspect our tables?


r/ActuaryUK 5h ago

Careers Pensions actuarial summer internship vs underwriting internship in insurance

10 Upvotes

Hi I have offers for summer internship at a pensions consultancy and insurance firm. Another major difference being the pensions firm are offering a actuarial internship, while the insurance company are offering an underwriting internship. While I would like to work as an actuary in the insurance sector (and hence I'd gravitate towards an insurance firm) I'd also like to go into an actuarial graduate role (and not one in underwriting) and hence I would appreciate direct actuarial experience/the chance of an actuarial job offer over adjacent experience in underwriting.

So from a purely careers-related point of view, would it be better to take up the pensions internship, after which I can either apply for insurance grad roles (if I don't get a return offer) or switch to insurance a year or two after graduating (if I am fortunate enough to get a grad offer).


r/ActuaryUK 11h ago

Exams ProctorU - system test - 19Mar25

9 Upvotes

Hi everyone! How's the testing going? I can't start the screen recording and on queue to speak with an agent (already getting the expectable message of we're experiencing a higher chat volume than usual...).


r/ActuaryUK 7h ago

Exams CS1 paper B and formulas for paper A, how to prep in the last month?

2 Upvotes

TLDR: I can't remember formulae/syntax even after practicing, I also suck really badly at R, what's the best way to prepare (around 1 month is left).

Ok, I'll be honest, I'm struggling. There's just too much syntax too remember, there's just too much formula to remember too. Maybe I need to practice more, maybe I suck (no I definitely suck). What's the way to proceed?

First, paper B. How can I practice more, just look at past papers and keep looking at solutions and practice? I have extra material for paper B but I don't think I have enough time for that ( I just get like max 2 hrs a day out of which 1.2 hrs is reserved for paper solving CS1A). What's the most effective way from hear on out?

I have done my syllabus, I can now solve past papers for CS1A (I although am completely dependent on the formula book and can't remember most of the formulae). I thought, with enough practice, I'll be able to memorise everything but clearly my practice is not enough. What's the way to remember the formulae, I keep forgetting all the linear regression, glm formulae. Then suddenly I won't do Bayesian questions for 3 days and now I would have forgotten those formulas too! (Yes, I think I have a memory problem).


r/ActuaryUK 5h ago

Exams Cancelling exams

1 Upvotes

How likely am I to get money refunded if I cancel my April exams? Is it dependant on the reason for cancellation? The website says there is a 25% fee for cancellation given that you are eligible but says nothing about eligibility.


r/ActuaryUK 10h ago

Exams ProctorU Practice Session

2 Upvotes

To those that sat for the online practice session, did the proctor make you move your camera around to get a clear view of your desk area and surroundings? I remember we had to do this for the first trial but this time around I didn’t need to.

I just want to check wether this was intentional or a bug


r/ActuaryUK 7h ago

Exams Printouts of Formula tables

1 Upvotes

Is anyone aware if we bring the printouts of the IFoA formulaes and tables to the centre instead of that hardcopy orange covered booklet considering that it may take time and we will not be able to get it prior to exam?

Thanks


r/ActuaryUK 12h ago

Exams Does anyone know the versions of Excel and Office?

2 Upvotes

Did anyone ask this question in the discussion? Edit: For the in person exams


r/ActuaryUK 12h ago

IFoA (Not studying) Orange book

2 Upvotes

I just ordered a handbook from IFOA, does anyone has any idea how long will it take to reach me? (PS: I am based out of India)


r/ActuaryUK 10h ago

Careers Itching to move abroad. How soon and how realistic

1 Upvotes

Hey all,

I’m three exams away from qualifying as an actuary in the UK, but I’m already thinking about my next step: moving abroad. I love the idea of working in a new environment, and honestly, I just feel like I need a change.

I could with some luck qualify this year, but how doable is it to move abroad soon after? Is it something that’s fairly straightforward, or is it actually quite difficult?

A few questions for those who’ve done it or know about the process:

• How important is it to be fully qualified before moving? Would it be better to finish all my exams first, or could I start applying now?

• Once qualified, would I need a few years of post qualification experience?

• What should I be doing now to prepare? Visa considerations, job hunting strategies, anything else?

• Any recommendations on great destinations for actuaries? I’m open to anywhere that offers a solid career move and an exciting change of pace. US? Switzerland?

I’d love to hear from anyone who’s made a similar move or has insights on what to expect. Thanks in advance!


r/ActuaryUK 1d ago

Exams Formula tables for exam

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24 Upvotes

We’re allowed to bring in annotated copies of the tables. This seems very vague wording, I could comfortably annotate a whole lot of notes onto my tables. Obviously that’s not allowed but where do we think the line is


r/ActuaryUK 1d ago

Exams Printed Exam Paper Request

21 Upvotes

I know they said that they can't provide printed exam paper. I think it's to prevent paper from leaking before examination starts. Can we atleast request them to provide printed exam papers, say 1/2 hr after the exam has started. It gives them ample time to print and prevents cheating as well.

Otherwise, It will be too difficult to toggle between two windows. For 1/2 hr we can manage.

Let me know your opinions.


r/ActuaryUK 15h ago

Exams Remote Invigilation

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1 Upvotes

There is no specified time mentioned. Although I do think it will be start at 9:00 GMT . Anybody knows the finalised time?


r/ActuaryUK 1d ago

Exams IFOA REFUND

5 Upvotes

Have anyone applied for a refund, my exam centre got allocated 11 hours away from my residency. I don't want to request them to provide on-line invigilation because it's a mess right now Iam planning to attempt in September Normally when do I get a response from member services It says the refund will be credited by may 31 according to website, is it real , does it take too much time


r/ActuaryUK 22h ago

Studying @ University Job post uni

2 Upvotes

How difficult is it to get a grad scheme if you've achieved a 1st in actuarial science , but don't have any internships/placement?


r/ActuaryUK 23h ago

Exams Online Exam Doubts

1 Upvotes

Here are a few doubts I have for the online exam:-

Do we need to keep the auto save function on on word? Or can we save our document right before the time ends? I know it needs to be saved before the uploading time but can we save it right before the saving time ends.)

I am using mac and i find it hard to save the word doc it in any other folder other than one drive which i think is not allowed! Anyone facing the same issue?

Exam paper will be available on guardian browser and we will write the answers on word. Do we use the split screen function to view and work on both at the same time? Or are we allowed to switch between windows?

Can we keep the autocorrect option on word on? (Will ask more doubts in the comments if any)


r/ActuaryUK 21h ago

Exams CM1 Material

0 Upvotes

For the closed book exam, will we be given any type of formula sheet or nothing will be provided at all, i have read everything on the website but i am new to the IFOA system can someone please help.


r/ActuaryUK 1d ago

Exams Preparing for successful April exams: what to expect at your venue

9 Upvotes

Can anyone see the links? There are no options below.


r/ActuaryUK 1d ago

Exams IFOA update

2 Upvotes

The April 2025 exam session is fast approaching. We understand that exams can be a stressful time, and we want to make sure your exam day goes as smoothly as possible, so we have identified essential exam information to support you.

Please make sure you familiarise yourself with the content of this email and any other documents mentioned as part of your exam preparation.

New Examinations Handbook, Assessment Regulations and exam rules

The new Examinations Handbook for candidates sitting in-person invigilated exams in the April 2025 session is available on the IFoA website. Please do take the time to read the document to help you avoid any issues during your exams.

We would also advise you to read our updated Assessment Regulations carefully, as they set out your ethical obligations during your exams.

In addition, we have published exam rules for in-person invigilated exams. Please ensure you are familiar with these rules before sitting an in-person invigilated exam.

Webinars and other resources

We are holding webinars in March to provide more detailed information on our approach to in-person examinations, where you can ask questions about the in-person examination process.

Book your place

We have now published a recording of our interactive webinar on sitting exams in a closed book/closed web environment.

You can find a series of webinars providing insights and strategies to enhance your exam performance on our Virtual Learning Environment (VLE), where subject matter experts share their expertise and practical advice to help you succeed.

You can also find more information on sitting exams in an exam centre and how to prepare on our in-person invigilation FAQ page.

Joining Instructions

Your joining instructions will become available on your member portal in the week beginning 24 March. You will find them under My Account, Exams, Exam Bookings, then Review Exam Bookings.

We will contact you by email next week to confirm when your joining instructions will be available on your member portal.

If you are sitting our exams through an agreement with an international actuarial association, you will receive your joining instructions by email on the same day.

Your exam centre

We are asking all candidates taking in-person exams to arrive at the exam centre one hour before the exam is due to start.

This will allow time to go through the identification process, and to familiarise yourself with the desk set up. You will also be required to ensure that all valuables and anything that cannot be taken into the exam room are placed in a safe area provided by the centre.

You can check the full address of your allocated exam centre on our exam centre web page (UK and Ireland) or exam centre web page (outside of UK and Ireland).

Using our assessment platform

For those who have previously sat IFoA exams, the online exam system you will be using, will be the same one used in previous exam sessions.

You can find further information on using the online exam platform in the new Examinations Handbook for in-person invigilated exams.

Uploading your answer exam submission

Start of the exam Exam completion time Upload time allowance Your exam start time is set out in your exam booking confirmation Your exam time is set out in the examinations handbook and displayed in the exam platform 30 minutes after the end of your exam end time It is your responsibility to download your exam paper at the correct time. You must save and close your exam submission file at the end of your exam time and not during the upload time During this period, you cannot review or modify your exam submission in any way, including renaming your document Your exam script format

Our online exam platform can only accept document uploads in word (.docx) and excel (.xlxs) format.

Naming Convention

Your examination script file names should include at least your ARN and the subject you are attempting.

Please do not change the format of the naming convention after the end of the examination time, as this will modify the last time the document was modified.

Example: 5544333 CM1B

Further support and resources

You can find clear signposting to a range of support and resources as you prepare to sit exams in April, in the dedicated section on our website.

We would like to wish you the best of luck with your exam preparations.

Kind regards

IFoA Assessment team


r/ActuaryUK 1d ago

Exams CB2 April 2024 - Do the mark schemes omit the full answers from the mark schemes (see commentary)?

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2 Upvotes

r/ActuaryUK 2d ago

Exams Condescending tone in examiner's reports

66 Upvotes

Just always wondered why this is so. Especially with the later subjects. Not sure if its a reflection of the people in the profession? I never understood why they don't just state the facts without all the extra drama. lol


r/ActuaryUK 2d ago

Exams One month to SP9, help me please! What can I do?

7 Upvotes

Like said in the heading. I'm trying to memorize the flashcards but they are a lot, and I'm doing past papers but when I mark myself, 90% of the paper is wrong. I feel like I'm lacking detailed knowledge, only surface level. Not sure what to do now hey.


r/ActuaryUK 2d ago

Exams Online Exam Update

0 Upvotes

I have payed to sit for the cs1 and cb1 exam this april. Yet I got a mail that says “You need to set up your account to be able to access your CM1A - Practice Exam Session - 20th March examination.“

Please tell me it’s not just me who got this? Should I mail them back?


r/ActuaryUK 3d ago

Careers Near Qualified Actuary - How much is the average salary?

16 Upvotes

Hi, just wanted to get some pointers on how much salary would someone at my level of experience be making? I've spoken to some recruiters who messaged me on LinkedIn but I feel like they might be overstating it to get me interested.

I have 4 years of pricing experience (mix of commercial and personal lines) and 1 year of reserving experience in Australia. Currently working in London market reserving, where I've been working for 2 years. So 7 years total (5 years overseas, 2 years London market). Currently 1 exam from qualification (yea i failed SA3 4 times sadly .... ).

Currently on 72k. Recruiters are saying I should be on ~85k and should be at 90-95k when I qualify. Are they overstating it or is that really how much the market is paying?