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Actuary Career Information

India in general is a nation of fatalists. If things go bad, we tend to blame our fate. However, the wizards of finance have come up with a neat way to safeguard you against the unforeseen. Find out how you can help people buy peace of mind by being an actuary.

What an Actuary does

Abilities & Traits Required


To become an actuary you need to take the entrance exam – Associate and later Fellowship of the society- conducted by the Actuarial Society of India. It is recognized in India as well as in Southeast Asia and Africa. To become an insurance surveyor you need to be a degree or diploma holder in engineering/architecture or hold a Fellowship/Associateship of the Institute of Chartered Accountants. You can also obtain the Fellowship or Associateship of The Institute of Insurance Surveyors and Adjusters (IISA) by giving their exam and thereby become a licensed insurance surveyor.

In the UK, professional groups such as the Institute of Actuaries (London) and Faculty of Actuaries (Edinburgh) conduct the examinations leading to an international recognized professional Qualification. In the USA, the Society of Actuaries (Schaumburg, IL) and the Casualty Actuarial Society (Arlington, VA) provide the qualification. Internationally, City University (London) offers one of the best university courses in Actuarial Sciences.


Earnings as an Actuary: In the government sector, starting salaries fall in the range of Rs 20000 - 25000 which can work up to Rs 30000 – 4500 in the private sector. A Zonal Manager gets Rs 30000 a month. This is just the basic salary, additional allowances include Dearness Allowance, Travel Allowance, City Compensatory allowance, etc which works to almost 150-200 per cent of your basic salary!

Management graduates can get Rs 15000 - 25000 per month. Salaries in multinational are very good indeed. At the entry level you will be paid around Rs 400000 and after five years of experience it can reach Rs 1000000 p.a.

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