All About Actuary

I'd post an intro abt my pathway in actuary in previous entry here. so now, I gonna share further abt actuary after almost 3years stdy in this field.. I divide this entry by 5parts : salary, exams, educations, skills, and career.

1. Actuary Salary

This is the best part for everyone to concern. base on the latest ranking at UK, actuary is the 6th highest paid salary ranking, which is in medium they can reaches $129K annually ( in Dolar ) @ RM412K annually ( times 3.2). means tht actuary will get RM34,000 monthly!!!! so, attention to everyone, no matter who u r, even u r PETRONAS employees, masters @ PHD holders, Dato' or whtever la, xyah nk berlagak ngn actuary ye. (ada sedikit nada riak di situ.. )

but.....

xleh riak sgt...

2. Professional Exams

It's not very easy to achieve such high salary like tht.. actually, actuary salary is depend on how many papers of professional exams had been passed. there r many types of pro exams, but SOA exams is the most familiar. for 1st stage, there r 8series of SOA exams. each paper's fee is range from $200 (= RM640) to $2100.hoho..murahnye kn!!!

One more thing, it's not such easy as ABC to pass the exams. most of my fren take more than once to pass. ada yg amik 3x pn fail lg.. aku?? xleh gtau, secret... 6t aku dh pass byk paper bru bleh wt surprise.hehe

to pass all the exams, it deserve high sacrifies.. no movies, no hanging out with fren, no gelifren, no boyofren, no games, n etc.. there r just stdy, stdy n stdy.. when we pass one @ two of any exams, the salary is equivalent to master holder's salaries even we r fresh graduate. the salary will increase with increasing number of exams passed and experiences.

Then, after we passed all of 8papers, there will have another series of papers tht should we take to becomes fellow. fellow ni la gajinya mncapai RM35K sebulan..

3. Educations

There r a lot of univ in overseas offer this course. but in Malaysia, only 5 IPT offer this course tht are UKM, UiTM, USIM, UTAR, and INTI College. UKM is the highest demand, tht's y it deserves high qualification too. matriculation students must get CGPA 4.00 to apply this course.

So far, there aren't any univ in Malaysia offer for Post Graduate ( Master Degree) in Actuarial sc. so, I hv high chance to further my stdy to overseas. it was my dream since I was childhood. I've my own plan abt this.. but b4 tht, I've to change my attitudes, my habit and other bad things to reach the top!

4. Skills & Study About

3 situations happened when people ask me, "what course u r take?" and when I replied, "actuary," here are their responses :

i. people doesn't know anything abt actuary, "kau kena belajar berenang ke?" @ "teruknya keje 6t kt kuari,"
ii. people doesn't know but wanna cover theirselves, "ooooo..," dlm hati, "ape benda 2? xprnh dgr pn..."
iii. people know abt actuary, " whoa...." with big opened eyes n mulut ternganga.....

Actuary student learn a lot abt applied mathematics. very good in mathematics is must bcoz it is critically used to apply all the knowledge in real life. it also stdy abt how to design a new policy for insurance, calculate premium for pension scheme, make a profit testing and forecast the mortality.

Besides, strong computer skills especially in programming also important coz it is used to calculate n process the data, forecast, analize n etc. pendek kata keje actuary ni dok depan komputer je...

5. Career

Actuary's job scope is abt analyze statistical data, such as mortality, accident, sickness, disability, and retirement rates and construct probability tables to forecast risk and liability for payment of future benefits. May ascertain premium rates required and cash reserves necessary to ensure payment of future benefits. by using statistical data and mathematical method, actuary apply all those things to access risk in the insurance and finance industry.

 There r two types of actuary. 1st, a pointed actuary tht's the one had passed all the professional exams. and another one is 'disappointed' actuary tht are not passed any exams and shift their career in other path.. actually, a 'disappointed' actuary still can survive and built a good career in another field as well. they hv  a wide employment opportunity in financial institutions such as bank, KWSP, insurance company, BSKL, investment field, land & properties, n etc.

That's all abt actuary. further detail, u all can find here.

"Risk is a part of actuary, that's why rich becomes a part of actuary as well."