Actuary Salary in South Africa | Is actuarial sciences worth it? | Acturial Analyst Salary
ฝัง
- เผยแพร่เมื่อ 28 มิ.ย. 2024
- How much do actuaries earn in south africa? Is acturial sciences worth it? How much can you earn as an acturial analyst?
00:00 Introduction and what to expect from this video
00:58 Trainee Analyst
02:00 Actuarial Analyst Salary 1
03:33 Actuarial Analyst Salary 2
04:27 Qualified Actuary Salary 1
06:00 Qualified Actuary Salary 2
06:59 Actuarial Analyst Salary Sister 1
08:40 Statutory Actuary Salary Sister 2
#liferesetwithboni #bonixaba #acturialsciences #salarytransparency #salaryincrease
All payslips are submmited by respective owners for educational purposes.
xaba.bonisile@gmail.com
Hi guys, I'm currently on the road, but I'll be with you shortly, respond, etc.
Answer about retirement annuity:
"There are times when you could increase it significantly to a max of 27% of CTC, so I just did for the period. But it’s usually 18% on a monthly basis. So it’d be around 48k, But people usually take the minimum - 13%, that’s why this might seem odd cause I’m paying double."
Wits has only produced 650 actuaries since 1983, meaning they produce 16 actuaries per year😂😂😂😂😂😂😂😂. That's some hard course
Very hard. I know someone though who completed it in record time. Just imagine
@@nkosikhonamthethwa2895 Getting it in record time is not a problem, the problem is getting your degree WITH the exemptions that determine your starting earning potential...Getting exemptions is a lot harder than just getting the university pass.
Most people don’t know the earning potential and this channel is doing that, helping people seek for more and hopefully stay in school as you say👌🏾
💯
Currently doing Acturial science first year at Wits ,and to say the least I'm motivated🔥🔥
All the best man!
Thank u!
Level 7 gang!!! Congratulations!
@@liferesetwithboni and then our gorvenment athi pass rate is 30%, ubone nje ukuthi weehh
What kind of thinking is this? Do you think all 700K±students who are doing their matric can get straight A's? With what resources? Or you're only thinking about the kid that's at a Hilton or St John's 🤔@@jabusenyondo8130
Now your channel is really changing lives. You must be proud of yourself sisi.
Ay bo 🤣
@@liferesetwithboniYes you featured on one of Cape Towns radio stations.
Imagine finding out that your company was underpaying you so much through a TH-cam channel and other people are your level are getting almost 3x your salary 😢 her god works overtime. Glad she left
Lol
Her skill is the most in demand as well She can jump ship anytime.
It's good salary, but I think they deserve more. Considering the trauma you have to go through when studying this course
Lol like engineering
ENGINEERING IS NOT THAT BAD@@liferesetwithboni
@@mnelisidladla2571engineering is bad actuarial sciences is worse
@@mnelisidladla2571not TVET or Btech ……… the actual BENG is a near fatal experience 😅
First payslip is definitely underpaid. Earned much more when i started as an actuarial analyst 3years ago, with only a few exemptions
This is absolutely one of the reasons I always told my classmates to know hwo much tosettle for immediately after getting your degree.Don't settle for less or say whatever you are offered after uni . Never,do not be desparate ,know your worth
That last payslip, thou!!!
Chest pains felt
We need more chartered accountants to participate 😢 we need motivation ziya buya eskolweni aaaii😅
I've done it before,check payslip series
I know that one i think ive watched it 20 tomes.❤@@liferesetwithboni
Look what your channel is doing to South Africans Boni. I'm super proud of you. Keep it rolling MaXaba... bring more... we like it.
Aw thank you. What happened now?
Chest pains for real on that last payslip ❤❤❤❤ so proud of them!
😊🙏
Hi Sis Boni, thanks for the video! Was great to watch. Please do a Chartered Financial Analyst.
That’s why it’s important to discuss salaries at work. We really do undercut ourselves by keeping it private. Especially when we have the same experience and qualifications. I see it with Wh#te counterparts. They get paid almost 2x with less qualifications and less experience.
TRUE
They say salaries are private and confidential cos they know people are being robbed and underpaid for the same positions.
My sister... Please tell people that if they don't make it in getting straight into Actuarial Science, they can do a degree in Mathematics and then write actuarial exams with ASSA. however they need to perform well and it will take A LONG TIME
Yes Board Exams,sometimes you can opt for an hons @UP for Bsc hons financial maths ,you gain more knowledge
Noted
Why do I always see people with this degree struggling to find work?
@@liferesetwithboni Math degree? If yes, then Math majors often struggle to find employment because their skills are highly technical and may not directly align with the needs of many industries. Additionally, employers may not fully understand the value of a math degree and may prefer candidates with more practical or specialized backgrounds. I have a Math degree as well, and I'm now a Software Developer, which is totally different from what I have studied. If I could, I would advise Math majors to do something different, or not end at BSc Maths, they need to do their post grad in a specialized field.
Yes. They have to make sure that they do 2nd year "Mathematical statistics" as a module
If you are doing STEM stay in school to study furthur. Other qualifications are not economically driven by demand and scarcity. Actuarial science its advanced mathematics and statistics + investment sciences. They design the insurance products using risk analysis forcasting etc. So surely they will get a piece of the billions the insurance industry is making.
100%
Even if you work at the same company doesn't mean we will earn the same salary. You don't get paid what you deserve, you get paid what you can negotiate. Life isn't fair, so you have to keep looking and learning to barter for a better pay.
Mmm sad for days
@@liferesetwithboni I agree it's sad, it's not enough to do good work, you have to play the game and always look to increase your salary. These actuary salaries look super enticing.
Now this segment shows a better reflection of the actuarial field, I like the fact that you have different levels of experience.
🙏💯✨️
My Goooooooood!!!!!
same company ? and so much pay difference? literally 50% difference 💔.. This confidential payslip thing wasn’t meant to benefit us
👌👌 impressive
Actuarial sciences student...Dankie sisi bonie🥳❤am motivated
Much 🥰🥰🥰
My daughter wants to do this career,thanks Boni I will share the video to her❤❤❤
Give her all the support she needs please, that course is emotionally draining
Sis Bobi, pleasee continue sharing these payslips so that more people can have something to compare to. These companies have a tendency of underpaying employees
I keep getting hateful comments under the doctors salary video, saying I have blood in my hands for sharing how much doctors earn and now they are being kidnapped.
@@liferesetwithboni woah what😮😮
especially doctors, engineers and actuary. like there a very few of them why still underpay
Thelast payslip 😅😅 chest pains felt 😅 but im happy - excluding Mr tax man part 😢
🤣🤣🤣
When you're an individual tax payer, the government seeks to encourage you to save for your retirement. If you have a retirement annuity (RA), a percentage of your yearly RA contributions can be claimed from SARS and it's called a deduction.
Yhoo, I need Therapy after that last payslip😩😩👀
🤣🤣🤣
Great content. I would like to give some potential insights for the last payslip. 1 - Statutory Actuary is a very senior position in a life insurance company with specific regulated responsibilities (actually and mostly an executive position). By law, every company requires one and can't be the CEO or CFO. 2- The Retirement Annuity payment looks to me like some sort of back pay, either a buyout bonus where it was agreed that it'll be paid monthly or something like that. The reason is that a) it is under earnings and not deductions, and b) In SA, contributions to RAs are capped at R350k pa (88kx12 will be much above that). Hope this helps.
Thank you. Can I interview you? * wink*
@@liferesetwithboni 😄. I'm camera shy, but happy to keep contributing in the comments section.
Very insightful video. Could you do one on GIS developer/analyst/specialist salaries
I've done GIS
Plz do a video for construction mananger
I haven't seen it but check on the construction industry video.
My brother has an Actuarial Sciences Honors degree...went on to his MBA at IE University in Madrid....last year he graduated from Wharton Business School (US) and just last week his an Alumni of the Harvard Business School...the last paycheck was a regular thing to see at home (his kind of messy)...
I would burn them up.😂😂😂😂
One career I would advise the lounging to go for outside of being a tradesman in SA.
Which subjects did he do in High school?
Hi can you please do one for Field Service Engineer.
Thank you in advance
Can u check on other IT videos,? I've done this for sure.
So ,the Retirement Annuity is deducted from her salary by her employer to reduce her Tax payable to Sars..
I see
Actuarial science student at UP, first year, and 😢😅😊. Motivated
Awesome!
We need a neurosurgeons salary next 😂
It's same salary as any medical specialist.
Tax is theft 😮
🤣🤣🤣
especially under our goverment
I can now confirm that Ndikhaphile emhlabeni.
Chest pains were delivered successfully no crumbs.
After this Civil Engineering Degree,I’m definitely doing an MCom in Financial Risk,there’s money out there
🤣
Sunday
What about Sunday?
Tjooooohh i do not get paid they thank me to coming people a getting paid out there💔
Sis Boni can you please do a salary of a legal compliance office
I've done this, check under LLb salaries.
Abanamali labo
I Work for a Mining operation, to think,in 10 year's, with just a Matric,and driver's license, fortitude and a bit of luck, you can match An Actuarial analyst, is wild.
LOL
I suspect a lil more than a bit of luck sir 😂
Lastpayslip neh . Chest pains indeed
21k after studying that hard no no no and knowing maths like that. Somethings not right here…
Lol it was a start though
@@liferesetwithboni eish sis Boni but yoh I hear that degree can get challenging. I would think maybe 40k for start you know…
They got RIPPED OFF esp with an average of 74%
@@user-db9vy2gh3v what a fucking slave rip off mate
@@user-db9vy2gh3v 🎯 💯
Please share Management Consultants and Investment Banker salaries.🥺
Okay
Management Consultant is the way to be😭😂😂!
investment banker salary please with years of experience
Check accounting salaries video
Lets go back to school yhooo.Hhayi its never too late😂😅
🤣🤣🤣
Let me go study 😅 wow
🤣
What subjects do you need to do for acturial science is it level7 maths and economics
Maths ,physics English ,yeah level 7 maths ,preferably 90s for maths to be guaranteed a spot here at Wits.
Level 7s in Math, Physics (if it is one of your subjects), English FAL, and if it is English HL, at least level 6. If you took the commerce stream in high school, your Economics, Accounting, etc. need to be at level 7. Generally, universities require AT LEAST 42 APS points. This could mean that you would need to get at least 5 level 7s, and it would be great if you get them on the important subjects I have outlined for standing a chance. Never get anything below level 6 on the remaining ones. It is very much doable with hard work and dedication.
Yooooo
if you are not in a rush or you have level 6 in math do a math degree at UP with Statistics electives (for data science opportunities) and then maybe get a Bsc Hons math/actuary at wits or UP
Yoh!!! 🤧🤧
One thing that will kill us is tax bathong. Hai khona the tax is just a lot!!
Sorry
actuarial analyst isnt the same as actuary.
actuaries get paid a lot more than actuarial analysts.
You didn't watch the video? 😊
Hi sis Bonii. I’m currently in matric and qualify for both Accounting and Actuarial sciences, According to you, which degree can earn me the most money after qualifying?
It's about what you are passionate about. Do not choose it for money.
@@liferesetwithboni thank you so much for replying, I’m passionate about both, so I’m now considering the money factor 😭😭 which would you say has the most potential to earn me the most money?
@@iamsambany9242 ActSci earns more at every level of career (assuming you make good progression w/ exams)
225k per month? Every month? 😭 Yohhhh
And some actuaries make even more, per month...before performance benefits...
@@nkosinathilinda1879 I’m an economist. how fast can I become an actuary? 😂
@@helvitangi8199 get a math/financial math/actuarial degree if you do apply for exams at ASSA
The R4500 pension contribution looks suspicious. It's too low.
Ok
Stay in school.
I don't even know what an actuary is. 🤷🏾
Google actuarial Sciences
🤣🤣🤣you are a regular
@@liferesetwithboni 100% True. 😅
Tax 🥺😭
I like it when you laugh.. chest pains 😂
😊
“Stay in school” 😂😂😂
Nje
I'm very interested and fascinated with Actuary science. I want to know the career roadmap of an actuary in south africa in 2024.
for context: I'm currently doing a double major bachelor degree in Mathematics and Computer science and i want to do a BSc Hons mathematics after graduating so i can crossover between software development and being an Actuary.
I'm so sorry sisters, as a Bachelor of Commerce graudate 2019 been unemployed and no internships since then, my aplogies i had to unsubscribe to your channel as its giving me chest pains 😔
Askies angel🥰
Please check Ramaphosa's Salary school is not alway the solution
Lol
And how many people get to be president?
Exit the conversation please
yep my friend is in that field _FACTS ONLY_ and sign-on bonus etc.... Anyway please do UX/UI Designers but get salaries from white people PLEASE
They don't contribute labo, don't know why 🤣🤣🤣
@liferesetwithboni coz by default they earn 20% or more than *us* mxm
10:41 😂. Stay in school😂.. drops 🎤 😂
But Math is not Mathing 🤣
@@liferesetwithboni 😵😂😂😂😂🙈
Actuary Scientists are loaded yoh i wish i was a math Genius
😊
You spend 12 years +4 years + to earn 100k plus,, while i make 500k online every month am still in high school 😂,,, stop flexing your income,, while millionaires don't show anything 🙌
Who's flexing? also, I don't think Multi Millioneres have time to tell others that they are multi millioneres on TH-cam unless they are looking for people to scam.
yeah cool but what if someone actually love being an actuary? have u considered that?