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There is certainly overlap between data science and actuarial science! Most of the time a masters or PhD is needed for DS roles, so some continued education is often needed if actuarial exams aren’t pursued. While I think DS is great, one benefit of the actuarial profession is the knowledge you gain about business, economics, accounting, and finance alongside predictive modeling. These skills are crucial for businesses to ensure their models are unbiased and producing reasonable results.

Hello! Thanks for reaching out 😊 I’m glad to hear you are considering a career as an actuary. Typically if you go to college and study actuarial science you will have some courses that teach you programming skills, but it can be helpful to try learning and practicing these on your own. R and Python are often used and can be learned for free online through various platforms!

That’s exciting! There’s definitely some overlap in the careers. Happy to help if you have any questions as you get started!

This is a great question! There are definitely similarities between actuarial and data science. One major skill set that actuaries develop is a deep understanding of business and economics. This knowledge is critical for interpreting model output to ensure results are unbiased and reasonable. This skill will always be necessary as the world continues to evolve and more models are developed.

Hello! Actuaries most often work for large corporations (like insurance companies), but they can also work at smaller organizations. In some cases, actuaries have started their own consulting firms so they can sometimes work with individuals in those situations!

Hello! I don’t think there is a single country that’s best. Actuarial science roles exist across the world!

Helpful classes would include math/stats, accounting, finance, computer science/coding, economics as well as anything business or insurance related! If your college has an actuarial science major, there will likely be courses that can prepare you for the actuarial exams as well.

Great question! I get this one a lot. I definitely do not. While AI can do some really amazing things, it’s far from perfect. Actuaries will always be needed to make sure models are performing in a logical way and aren’t reflecting bias or noise. Plus insurance is extremely complicated and nuanced. It’s critical to understand how the business works so we can build new models and validate their results. I can’t see this changing anytime soon. There are always new ideas and the need to create more models!

Thank you! I’m so glad you found this video helpful.

Thanks for your kind words! I’m glad you enjoyed the video. 😊

It’s a good mix of individual work and collaboration with others! You’re more likely to have more independent time if you aren’t managing a team, but it’s normal to have both regardless of job type or level.

Hello! Thanks for reaching out. Unfortunately I’m not entirely sure about the terminology you shared since I’m not from the UK. Here in the US, we typically use the term actuarial analyst to mean a student actuary who is pursuing fellowship. Once you’ve earned a credential like Associate or Fellow, then you can refer to yourself as an “actuary.” Actuaries can work many places, but some common ones would be insurance, consulting firms, government, academia, tech companies, etc!

My pleasure! Thank you for taking time to watch. Hope you enjoyed!

Absolutely! It depends on what type of company you work for, the role, how long you’ve been working, number of exams passed, etc. This website provides a breakdown of what you might expect to make as an actuary: www.ezrapenland.com/resources/actuarial-salary-survey/

Thank you for watching! I hope the video was helpful and encouraging. 😊 FCAS stands for Fellow of the Casualty Actuarial Society.

Thanks so much! I would love to, but I just had a baby so I’m focusing on being a mama ❤️ Planning to share more videos when I can!

Aw thank you for the kind comment! Wishing you all the best on your journey. Please reach out anytime if I can help!

That’s great! Can you send me a link? I’d love to check it out. This video was just meant to be a high level overview of the career. I’d love to share yours if it has more detail!

Hi! Those are great questions. Yes, you can absolutely work from home as an actuary (I currently do!) If you want to become an actuary, I’d suggest trying to find a college that has the actuarial science major. That will help guide what classes to take, but in general, you will take calc, stats, accounting, economics, computer science, etc.

That’s wonderful! I’m so glad you are excited about the profession. I’m sure you have a bright future ahead! In general, I’d encourage you to take as many actuarial exams as you can in college as well as try to get an internship or two before you graduate!

Of course! 😂

Aww thank you! I appreciate the kind words.

I know several people who started as engineers and transitioned to actuarial science! If you’re not loving what you do now, but you enjoy math/analysis, actuarial science is a great choice to consider!

Thank you so much Hiago! I definitely agree. Thanks for the support!

Thanks Dolly! I’m so glad you found the video helpful. In high school, I would encourage you to take advanced math and stats classes as well as computer science if you can. Additionally, classes on business, economics and finance could be helpful too if available! Here is a great resource for finding the best actuarial science colleges: www.soa.org/institutions/

The best thing you can do during high school is to take advanced math/stats classes and prioritize your grades in a variety of different topics. It’s also helpful to get leadership and team work experience through sports or other school clubs. These will help you get into the best actuarial science colleges where you will then have classes specific to the profession!

She really does! Glad she was able to help you. ☺️

Thanks Ruby! So glad you enjoyed the episode 😊

Thanks for your support Shala!

Thanks so much Ruby! ❤️

Hi Ricardo! Thanks for watching and the kind words. That is a great question! The number of hours actuaries work depends highly on the industry and role, plus some have seasons that are busier than others. For me, I’ve worked 10-12 hour days during busy seasons, but mostly by choice because I love the work I do. In more sustainable periods, I can usually get close to working a 8-9 hours per day. Many actuaries are able to establish good work/life balance. That is something I have always struggled with bc I love my work and enjoy doing a good job. Hope that helps 🙂

Hello! Unfortunately, I’m not familiar with the market for actuaries in Denmark specifically since I live in the US. From what I’ve seen and heard, it can be pretty challenging to get into the profession later on in life, but it’s not impossible! I’m actually partnering with a career changer right now to write a blog post with advice for those looking to make the transition. 😊

Thanks so much! I’m glad you found it helpful. Part 2 is now live on Vy’s channel and I’ve got it linked in the description if you haven’t already seen it 😊

Thanks so much! I will definitely check out your channel, appreciate you sharing 😊

Thanks so much! Glad you found the video helpful 😊

Thanks so much Dom!

Hi Zhi! That’s a great question. It certainly depends on the role and company, but yes generally P&C or General Insurance jobs in the US favor candidates from the CAS over SOA.

That’s wonderful! So glad you found the video helpful Flourish. 😊

Thanks Ruby! 😊

Aww thank you for letting me know! That brings me so much joy ❤️

Hi Hans! Thanks for reaching out. That’s great you’re interested in the actuarial profession and taking your first exam. Yes, once you’ve got exam P passed, I would encourage you to start looking for entry level positions.