Careers in actuarial studies
Actuarial graduates are in demand from a wide range of employers in increasingly diverse areas. Most graduates, particularly those who aim to go on to complete the professional examinations and qualify as Fellows, gain employment with life and general insurance companies, and actuarial consulting firms that service these institutions. Many graduates gain employment in banks, fund managers and management consulting firms. Risk management roles and health insurance are also areas of increasing employment for actuarial graduates.
The UNSW actuarial degree provides opportunities to study broader business degrees including finance majors and courses and as a result actuarial graduates are also employed in banks and investment management, in roles that include:
- Project, infrastructure and structured finance in investment banking
- Risk management and derivatives related roles in capital markets, financial markets and treasury
- Trading related roles in fixed interest or equity derivatives markets
- Stockbroking, especially as financial sector analysts
- Quantitative research and performance analytics in funds management
Opportunities also exist in financial analyst roles in a variety of other businesses and government departments where the actuaries’ analytic skills add value to the organisation.
The actuarial qualification is widely recognised and allows opportunities to gain international experience. The Jobs Rated Almanac in the USA has often ranked the actuarial profession as the number one profession in terms of better rewards and security and lower stress. The financial rewards from an actuarial career are comparable with, and often better than other professions. Actuaries are among the highest paid professionals in many countries around the world.
Careers in risk management
Risk management has become very important for most businesses especially financial service firms where actuarial graduates are often employed. The Masters of Risk Management & the Master of Commerce (Risk Management) provides courses to equip graduates for risk management roles in business, financial services and government organisations.