Thank you Brea! I used your Etched Actuarial study schedule when I first began studying. It really helped me learn how to build my own rythm! Well done and keep helping us young aspiring actuaries!
@@EtchedActuarial Your videos are always very nice, informative and motivating. Your hard work could be seen in all your videos. Thank you so much Brea!
As a candidate pursuing FSA but working in Japan, I got zero support (both financially or paid study leaves) from my company, and the actuarial salary here is way more lower than in the US or Canada.
Hey Brea! Love your transparency in this video and your journey is really inspiring! I'm a small TH-camr and data scientist so I completely relate to things you said :)
I thought you can only take the actuarial exams after you graduate lol thanks so much. I am planning to become an actuarial and make enough money to pursue my passion.
This is a great vid, and I’m not throwing any shade but I feel like you stayed on the lower side of the average incomes. I’ve seen some salary graphs for actuaries showing that 5 exams passed has an average salary of over 100k. I also have a cousin that is 27 and has 8 exams passed, and she is making close to 180k in Boston. Do you feel like you missed out on some possible salary somewhere along the way?
Canadian salaries and American salaries are not comparable. The actuarial field is way more competitive in Canada which drives down salaries. Also Boston has a very high cost of living.
Possibly! My area has a large supply of entry-level actuaries (I'm right near a bunch of great actuarial schools). So maybe that had something to do with it.
That's awesome progress with 2 exams under your belt! Making $76,500 in your first year? That's great! Do you mind me asking when you started working as an actuary?
Being an actuary sucks. 3 exams on my belt, when you look at the salary it seems decent but when you actually count the hours spent working it turns out to be $26-$32/hr. I’m leaving the profession soon
I get where you're coming from after passing three actuarial exams. While fully qualified actuaries can make good money, it really depends on how you define "good money." Consider the time and effort invested, compare it to average salaries, and explore similar job options. If the actuarial path doesn't meet your expectations, you may be right that it might be time to explore other careers that align better with your goals and happiness. Your well-being matters most, so choose a path that suits you best. 😊
@@nicmalugin-dm9ju I don't see the job as a necessity because it is a financial one. Any financial position that involves you asessing information and making decisions based on laws can be automated. Just like a tax preparer, there is no reason why I can't get my tax information with a QR code and have a computer scan it, put the information in the appropriate boxes and spit out a result. Good luck to the job even being there in a few years, I guess.
Thank you so much for your sweet words! It's awesome that you're diving into the world of actuarial science and aiming for a Ph.D. That's some serious dedication! If you ever need tips, insights, or just want to geek out about all things actuarial, you know where to find me. Best of luck on your PhD journey and the exciting road to becoming an actuary!
I’m surprised with the first salaries. I thought in USA you earn more money in the beginning of your career. Here in Spain if you just finished a master of it you earn 30-35k euros per year in insurance companies or 20-24k (every year there is a salary increase around 3-5k) in big4
While this video is very informative, my two cents are that people do need to take inflation in account. For example, I have only passed four exams so far and yet I make at least 10% more than what you reported for 2018. Partly because I have a vast experience in data analysis and I was working as a data analyst long before switching to actuarial science my undergrad degree is in computer science. But what I’m getting to here is that depending upon the organization you work for, actuarial analysts do tend to make higher salaries than regular data analyst regardless of exam status.
Hey Brea, great video. It was really helpful👍. I just wanted to whether you were in a Co-op program in University of Waterloo? If yes, how do you think the Co-op helped you with the Actuarial internships? Did it help you find internships in jobs you wanted?
Hey Kartik! You can learn more about my Waterloo experience in this video th-cam.com/video/h64662VrzrU/w-d-xo.html And here's one all about internships th-cam.com/video/yrDyYlZBXJk/w-d-xo.html
@@EtchedActuarial that's great but I thought actuaries were the highest paid people in world but my brother he's earning more than $300k per annum and he a medical consultant.
These exams are extremely difficult. They cost hundreds of dollars just to take one. Hundreds more for study material. With zero guarantee of getting hired.
I was in the same position for the majority of the time while I was in a full time role. I wouldn't say that my responsibilities changed drastically, however as I gained more experience, I was able to contribute and problem solve more independently. I was also able to make more suggestions and produced higher quality work.
Passing actuarial exams, getting associateship, annual raises, bonuses. You get raises for passing exams and achieving other actuarial milestones. As I passed more exams, my seniority increased too which also resulted in raises.
If someone has a bachelor in math (4 year studies ) , a master in actuarial science from the university of Manchester and has passed 2-3 exams passed his monthly paycheck will be ? Let’s say over 12000 , what his salary would be ?
Hey there! It's hard to say exactly how much you'd make with those credentials, since it depends more on what area of the actuarial field you go into! I'd check out these salary surveys for more info: www.dwsimpson.com/about/salary-survey/
Hey Candy, you can take a look at the steps in this video th-cam.com/video/SHxlIjG6tuk/w-d-xo.html The steps would be similar for foreigners except you'd likely need to have a stronger application and really show how you'll be a good fit.
We do have VBA courses and projects in the Actuary Accelerator Community that you could use. Then you could look for stepping stone positions that allow you to use this skill while also gaining other relevant experience. You'd be surprised how much VBA can be used in the workplace!
Hi, I am a degree holder in the Bsc in Economics and Finance and diploma in Accounting . Do you think doing a Msc in Actuarial Science would be a great route especially if I want to go into data science or pension fund management
Hi! I actually don't recommend getting a Master's in Actuarial Science. I'd recommend getting relevant experience and working on passing the exams instead. I hope this helps!
Haha nope! :) I was really lucky to have a lot of internship options during school, and it definitely helps to start with a non-actuarial one to increase your chances with an actuarial internship later!
It looks like she got credentialed in 2016 but the full salary bump was reflected in the year after. Probably she didnt got her ASA at the very beginning of 16 and also it took some time for the company to adjust her salary. Thats what I would assume based on the video info.
no you don't, you can have any type of bachelors degree and still become an actuary. There are people who have become actuaries with liberal arts degrees, having an actuarial science degree, math or any other quantitative degree does help but it is not a requirement.
No you don't need an Actuarial science degree. A more math-heavy degree will make it easier to pass exams, generally. But it's still possible to become an actuary with a marketing degree. I explain more in this video about what actuarial employers look for in great candidates: th-cam.com/video/yzQ5NgshBTU/w-d-xo.html
Becoming an actuary is definitely not easy! It's a long process with all the exams, but it can also be a very rewarding career if it's the right fit for you. Learn more about whether it's suitable for you here th-cam.com/video/AC_4aax8oFA/w-d-xo.html&
Hi Julian! There's definitely an opportunity to earn a lot more than me if you go on to become an FSA. You can check out this article for more salary info: etchedactuarial.com/actuary-salary-analysis
Thank you Brea, this is one of the most informative videos on actuarial science I've seen.
Yay! :D That makes me so happy to hear!
Thank you Brea! I used your Etched Actuarial study schedule when I first began studying. It really helped me learn how to build my own rythm! Well done and keep helping us young aspiring actuaries!
So happy to hear that Zion! That's the goal!
Thank you Brea for continuously keeping Aspiring Actuaries motivated.
So glad you watched, Daanial! :D
@@EtchedActuarial Your videos are always very nice, informative and motivating.
Your hard work could be seen in all your videos. Thank you so much Brea!
Damn, this is not what I was expecting in terms of salaries made, but thanks for the insight really helps out
There's still lots of opportunity to go further!
Wow - you show amazing energy throughout the video!
Thanks Paul!
As a candidate pursuing FSA but working in Japan, I got zero support (both financially or paid study leaves) from my company, and the actuarial salary here is way more lower than in the US or Canada.
Hey Brea! Love your transparency in this video and your journey is really inspiring! I'm a small TH-camr and data scientist so I completely relate to things you said :)
This is so helpful, I've been so worried about how I would integrate into the actuarial field
Glad you found it helpful!
I still have a couple of years after ehcih I'll attempt my Actuarial exams but your videos help me keep informed and stay motivated all this time.
I thought you can only take the actuarial exams after you graduate lol thanks so much. I am planning to become an actuarial and make enough money to pursue my passion.
As always, it was truly helpful and aspiring. Thanks a lot :)
You're very welcome, Kyle! Glad it helped :D
This is a great vid, and I’m not throwing any shade but I feel like you stayed on the lower side of the average incomes. I’ve seen some salary graphs for actuaries showing that 5 exams passed has an average salary of over 100k. I also have a cousin that is 27 and has 8 exams passed, and she is making close to 180k in Boston. Do you feel like you missed out on some possible salary somewhere along the way?
Canadian salaries and American salaries are not comparable. The actuarial field is way more competitive in Canada which drives down salaries. Also Boston has a very high cost of living.
Possibly! My area has a large supply of entry-level actuaries (I'm right near a bunch of great actuarial schools). So maybe that had something to do with it.
This is crazy because in my first year as an actuary with 2 exams passed, I'm making 76,500.
That's awesome progress with 2 exams under your belt! Making $76,500 in your first year? That's great! Do you mind me asking when you started working as an actuary?
@@EtchedActuarial I started in August. I was a teacher before this and studied for the exams while I was teaching.
Being an actuary sucks. 3 exams on my belt, when you look at the salary it seems decent but when you actually count the hours spent working it turns out to be $26-$32/hr. I’m leaving the profession soon
I get where you're coming from after passing three actuarial exams. While fully qualified actuaries can make good money, it really depends on how you define "good money." Consider the time and effort invested, compare it to average salaries, and explore similar job options. If the actuarial path doesn't meet your expectations, you may be right that it might be time to explore other careers that align better with your goals and happiness. Your well-being matters most, so choose a path that suits you best. 😊
Thank you for the video, Ms.!
You're so welcome!
Omg, girl you killed it. Put Accountants and CPAs to shame.😆🤣😂👏
😂😂
So when my buddy says his kid is going to make 200K when he graduates, he might be a bit off.
Starting pay is much higher now BUT not 200k high.
Depends where and when he’s gonna graduate, if he’s gonna graduate in 10 years the inflation and rising salary might buff up the salary
@@nicmalugin-dm9ju I don't see the job as a necessity because it is a financial one. Any financial position that involves you asessing information and making decisions based on laws can be automated. Just like a tax preparer, there is no reason why I can't get my tax information with a QR code and have a computer scan it, put the information in the appropriate boxes and spit out a result. Good luck to the job even being there in a few years, I guess.
Thank you very much. You're perfect. And your information were great. ❤😊 i am applying for phd in actuarial science. But i love to become an actuary
Thank you so much for your sweet words! It's awesome that you're diving into the world of actuarial science and aiming for a Ph.D. That's some serious dedication! If you ever need tips, insights, or just want to geek out about all things actuarial, you know where to find me. Best of luck on your PhD journey and the exciting road to becoming an actuary!
Another great one. Thanks, Brea
You're welcome!
I’m surprised with the first salaries. I thought in USA you earn more money in the beginning of your career. Here in Spain if you just finished a master of it you earn 30-35k euros per year in insurance companies or 20-24k (every year there is a salary increase around 3-5k) in big4
Oh wow! Interesting to hear what the salaries are like in other countries, thank you for sharing!
Those first years she was still in college. She graduated 2013, and that's just from.bachelors
She’s in Canada or atleast the dollars were Canadian
While this video is very informative, my two cents are that people do need to take inflation in account. For example, I have only passed four exams so far and yet I make at least 10% more than what you reported for 2018. Partly because I have a vast experience in data analysis and I was working as a data analyst long before switching to actuarial science my undergrad degree is in computer science. But what I’m getting to here is that depending upon the organization you work for, actuarial analysts do tend to make higher salaries than regular data analyst regardless of exam status.
Thanks for sharing your insights, Rutu! :)
Hey Brea, great video. It was really helpful👍. I just wanted to whether you were in a Co-op program in University of Waterloo? If yes, how do you think the Co-op helped you with the Actuarial internships? Did it help you find internships in jobs you wanted?
Hey Kartik! You can learn more about my Waterloo experience in this video th-cam.com/video/h64662VrzrU/w-d-xo.html
And here's one all about internships th-cam.com/video/yrDyYlZBXJk/w-d-xo.html
Thanks for showing us how to progress in this interesting path Brea 👌🤩
IAM ACTURIAL SCIENCE STUDENTS FIRST YEAR at kenya .You really give me relevant information .I will be connected to you
Glad to hear it helped Mohamed!
Great vid very informative for those looking to get into this field. Sorry for being cheeky in advance but is this ur annual salary or monthly...
The video shows the annual amount!
@@EtchedActuarial that's great but I thought actuaries were the highest paid people in world but my brother he's earning more than $300k per annum and he a medical consultant.
@@zainaltaf4752 you've been misinformed.
These exams are extremely difficult. They cost hundreds of dollars just to take one. Hundreds more for study material. With zero guarantee of getting hired.
Thank you for this video! Is this in USD?
No. If you look at the Y axis of the graph she used, it says Canadian $.
Right now 1 USD equals 1.257 CAD.
Thank you!
Am learning a lot.
Happy to help!
Apart from passing exams, did your role/responsibility change throughout the years when you had your full-time job?
I was in the same position for the majority of the time while I was in a full time role. I wouldn't say that my responsibilities changed drastically, however as I gained more experience, I was able to contribute and problem solve more independently. I was also able to make more suggestions and produced higher quality work.
Wait, you doubled your salary working in the same company in the span of 4 years?
How?
Passing actuarial exams, getting associateship, annual raises, bonuses. You get raises for passing exams and achieving other actuarial milestones. As I passed more exams, my seniority increased too which also resulted in raises.
If someone has a bachelor in math (4 year studies ) , a master in actuarial science from the university of Manchester and has passed 2-3 exams passed his monthly paycheck will be ? Let’s say over 12000 , what his salary would be ?
Hey there! It's hard to say exactly how much you'd make with those credentials, since it depends more on what area of the actuarial field you go into! I'd check out these salary surveys for more info: www.dwsimpson.com/about/salary-survey/
Thank you so much for this information . Can I ask about the opportunity for the foreigner to work in Canada?
Hey Candy, you can take a look at the steps in this video th-cam.com/video/SHxlIjG6tuk/w-d-xo.html
The steps would be similar for foreigners except you'd likely need to have a stronger application and really show how you'll be a good fit.
@@EtchedActuarial Thank you so much😍😍
Pls make videos related to UK/Indian Context !!
Hey there! Unforunately I'm not too familiar with the actuarial process over there.
🥳 Thankks
You're welcome Jessica!
So what's your profession now????
Hi Brea, are the numbers gross pay or net pay?
Impressive! Any guide on where I can learn VBA for life without being in an insurance job?
We do have VBA courses and projects in the Actuary Accelerator Community that you could use. Then you could look for stepping stone positions that allow you to use this skill while also gaining other relevant experience. You'd be surprised how much VBA can be used in the workplace!
yknow what that was a ninja tip 👍
Hi, I am a degree holder in the Bsc in Economics and Finance and diploma in Accounting . Do you think doing a Msc in Actuarial Science would be a great route especially if I want to go into data science or pension fund management
Hi! I actually don't recommend getting a Master's in Actuarial Science. I'd recommend getting relevant experience and working on passing the exams instead. I hope this helps!
@@EtchedActuarial you mean like the actuarial science board exams ?
Is the money you made net of tax or tax inclusive? Was it USD or CAD you made money in?
She said that's what she reported on her income tax, so it must be before tax.
CAD.
@@jucadimo762 Yuppers!
timely
Well i wanna know that these salaries are based on monthly or yearly?
Yearly
Did you dislocate in order to commit with each internship??
Haha nope! :) I was really lucky to have a lot of internship options during school, and it definitely helps to start with a non-actuarial one to increase your chances with an actuarial internship later!
I have a question
I want to do Bsc in Applied Mathematics in USA and then want to become an Actuary how should i do it from Undergrad can you help?
Why were the incomes not converted to real dollars?
It was in CAD, USD is 73% of the value of CAD and with inflation it’s and wage differences you can expect similar numbers if not greater
These figures aren't adjusted for inflation, are they?
No, these are the amounts I made at the time!
will you continue to take exams to become a fellow?
I don't have plans for that right now, because I'm focused on helping aspiring actuaries. But it's definitely possible in the future!
How did you go from 72.5K to 97.3K from 2016 to 2017? You already got your ASA the year prior right?
It looks like she got credentialed in 2016 but the full salary bump was reflected in the year after. Probably she didnt got her ASA at the very beginning of 16 and also it took some time for the company to adjust her salary. Thats what I would assume based on the video info.
@@pauloznarf yeah that makew sense, just re watched that part after your comment
Do you need an Actuarial Bachelors Degree to become an Actuary? I have a Bachelors Degree in Marketing
no you don't, you can have any type of bachelors degree and still become an actuary. There are people who have become actuaries with liberal arts degrees, having an actuarial science degree, math or any other quantitative degree does help but it is not a requirement.
No you don't need an Actuarial science degree. A more math-heavy degree will make it easier to pass exams, generally. But it's still possible to become an actuary with a marketing degree. I explain more in this video about what actuarial employers look for in great candidates: th-cam.com/video/yzQ5NgshBTU/w-d-xo.html
Are these figures per year or per month
It seems like it’s definetly per year since making 105k per year at an internship would be absolutely mad
Sexual bias in the field?
I guess there sexual is bias in every field
Is this USD or CAD?
It's CAD
Gosh just show the chart!
Is it easy for an average student?☹️
Becoming an actuary is definitely not easy! It's a long process with all the exams, but it can also be a very rewarding career if it's the right fit for you. Learn more about whether it's suitable for you here th-cam.com/video/AC_4aax8oFA/w-d-xo.html&
Motivation is the key to everything.
you're gorgeous, How old are you??
Shit, this is not a lot of money… I thought you made more than that as an actuary
Hi Julian! There's definitely an opportunity to earn a lot more than me if you go on to become an FSA. You can check out this article for more salary info: etchedactuarial.com/actuary-salary-analysis
Please I need your guidance .where should I get you .socal media
Send us an email at support@etchedactuarial.com
ok@@etchedactuarialinc4929