Whilst you can take the exams independently, there are definite advantages to gaining a trainee position.
Your employer is likely to:
- fund your membership and exam fees
- allow you study days
- enable you to earn whilst studying
- provide you with on the job experience around elements of the exam material which will help you work towards your IFoA qualification.
It will also give you the opportunity to complete the work based skills requirement for the qualification you are working towards.
You can obtain an actuarial position straight after university or your can apply later
Some students go straight into a trainee position from university. Others may choose to study for a post-graduate qualification first (although post-graduate qualifications are not required for a trainee role), or take a gap year. If you take a gap year and you are not actively employed, make sure this time is spent usefully, developing yourself and your skills, and that this is reflected on your CV.
Actuarial graduate training schemes are listed in the Directory of Actuarial Employers
The Directory of Employers has names, locations and contact details of companies that have indicated that they have actuarial trainee schemes available, as well as information on how to apply.
Actuarial vacancies are also advertised in The Actuary magazine, and on its website
The more skills you develop, the better your chances of finding an actuarial trainee position
In addition to developing your skills through work experience, you should look for opportunities for self development through the pursuit of a hobby, by joining a club or society, or by volunteering. Employers will be looking for business skills, such as communication, leadership and teamwork, as much as for academic qualifications and technical skills.
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You can contact the Careers team at:
Institute and Faculty of Actuaries, 7th Floor Holborn Gate, 326-330 High Holborn, London WC1V 7PP
We aim to respond to all enquiries within five working days.