Risk experts command one of the best packages
SINCE the last global financial crisis and recession in 2007-2008, the demand for Actuarial Science graduates has been soaring.
In fact, according to leading job hunting website CareerCast, actuaries are in high demand now – many major employers offer a great working environment and attractive salaries to qualified candidates.
In addition, CareerCast rated actuary as the best job in the United States last year while CNN/PayScale ranked the profession as the 7th highest-paying career, with a median pay of US$126,000 (RM415,800) and a top pay of US$198,000 (RM653,400).
In terms of work environment, employment outlook, job security, growth opportunity and salary, it is hard to beat those offered to an actuary.
The Society of Actuaries describes an actuary as a business professional who analyses the financial impact of risk associated with uncertain undesirable events, especially in the financial and insurance sectors.
Actuaries utilise advanced mathematics, statistics and financial theory to evaluate the probability of future events and their possible outcomes to reduce the impact of financial losses associated with adverse events.
The role of actuary is becoming more mainstream in the daily operation and management of a company.
To be a successful actuary, one must have a degree in an analytical field, such as Applied Mathematics, Statistics or Actuarial Science.
The candidate is also required to undergo a series of rigorous qualifying examinations set by the Society of Actuaries.
As a result, many employers are now offering merit increases or bonuses to employees who have passed these examinations as well as for each professional designation achieved.
At HELP University’s American Degree Program (ADP), Actuarial Science is one of the most popular majors among students planning to pursue their undergraduate degree in the United States and Canada.
It has been the preferred transfer programme partner for Actuarial Science at the University of Waterloo, Ontario, Canada – one of the top universities in the world to offer an Actuarial Science degree programme.
Over the last three years, HELP has successfully facilitated the transfer of 50 Malaysian students there.
According to Dr Ken Seng Tan, University Research Chair professor and associate director of Waterloo Research Institute in Insurance, Securities and Quantitative Finance, “HELP American Degree Program students are well-equipped for success in our regular and co-operative programmes at the University of Waterloo.
“HELP is consistently our largest source of students from Malaysia each year. The majority come to the University of Waterloo to learn from the largest collection of Actuarial Science talent in the world.”
HELP University also offers industry exposure – undergraduates in the programme complete up to six work terms during their studies.
It may take a year longer in the co-operative programme but they gain two years of professional paid work experience.
Admission to the Waterloo co-operative programme is highly competitive. It requires strong grades and excellent holistic applications.
Students get on-the-job experience with opportunities to connect classroom theory with actual applications in a wide range of employment settings.
They will undertake a variety of job responsibilities, pick up new work-related skills and earn competitive salaries, depending on the job level and experience.
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