This is one of the most useful, intruguing and motivating actuaries videos I have watched. I've been trying so hard to find out more information in this field, but it's so hard to find a video that explains it well. You have explained it very well. Thank you
It's interesting how near to your own opinion I was in terms of Actuarial science as a career and as a discipline. This is a career that goes beyond the expectation of most people, specially in terms of the industry and workplace... I am certainly driven by it and its fundamentals.
I myself is an actuary, loved your video, one minor comment about the PAY - yes we do have more balance but in the city like NYC(area), after 5 years of work in Insurance industry, I realized that a overall higher salary than a higher pay per hour is more affordable, since at the end of day I am asking myself "Do I have more money to save and invest?" Thus I am currently considering making a slight career change to quant related jobs ... (I really enjoy current actuarial role)
hi Darren, really appreciate & liked your video. actuarial science as a career was very neatly explained along with applications. it goes without saying that this video will be in my collection for someone who wants clarity on "what is an actuary"
Appreciate the feedback, and bad excuse but it's been a really busy year. I have made some changes now and I am planning to be more consistent with uploads starting in October 2023, I hope to see you in the comments again!
Thanks, Darren, I've been on the fence about whether to pursue a career as an actuary or a career in cyber. This video has definitely pushed me more toward actuary. Although I will admit I'm still a little worried about getting to the end of my degree and being able to find a job as a student actuary. I feel like the supply of geeky math nerds is pretty high and the demand for untrained actuaries is pretty low. How competitive is the entry-level actuarial job space?
A few important factors here - what market are you looking in? Do you have internship experience? Do you have any exams? Generally speaking - with entry level exams and some internship experience, entry level jobs for actuaries, in my experience, can be found without too much of a fuss.
@@alecerte9090isn't politics and corruption present in all finance professionals ? What made you say this? Can you please elaborate? I am an actuary aspirant.
In 10 years time you will regret it, actuary is just another employee with stress and very basic tasks, in the end math and statistics will be superceded by politics 😉
Stress for sure in some cases but not sure about the basic tasks, it can be pretty complex at times. In terms of what is better in 10 years, who knows at this point, but I agree politics is an important field and right now everyone, in some way, is invested in that part of society.
How you differ actuary to other financial professions like CFA in terms of emerging fields like investments, financial consultations etc? Can you please go in details about the role of an actuary in these fields?
you know you're an actuarial when instead of saying actuary is a highly paid profession, you draw a mathematical equation 😂 Liked the video - very informative.
I'll make a video about the journey sometime in the future but high level: Actuarial Science degree in South Africa, joined an international reinsurer, took the South African Actuarial exams, move around with the company and now find myself in NYC
Hii dareen anshul this side i'm from india my dream to become actuary can help me wht can i do i pursuing my final semester bachelor of science in mathematics thanks 👍🙏
Hello Sir, thanks much for the detailed video. Please I will love to get your counsel; I have a BSc in actuarial Science and MSc in Applied Math and CS. For my career path in becoming an actuary, I am thinking of pursuing an MBA in business Analytics and take the actuarial exams along side or afterwards, or just doing MSc in actuarial science. Which path is be better?
Hi I hope you are doing well. I am Deepjyoti, doing my bachelor's in Maths and statistics honours from India. I am feeling interesting about the actuary field. Could you please tell me the perfect carrier path to become actually in the USA/UK. I hope you will reply soon
Heyy... Would I be able to work as an actuary in the USA if I completed my exams in South Africa through ASSA. I know there isn't an MRA between ASSA and SOA but will US employers be willing to overlook that?
Yes! This is what I am doing actually but it depends on a few factors and the area a company is hiring for. Outside of very traditional reserving roles, US companies are more relaxed on credentials. For example, it is common to be an Associate Actuary in the US and still progress in your career whereas I know this is quite rare in South Africa. If you have experience in an actuarial role and have credentials from outside of the US, I haven't found this to be a hinderance. It's even easier if you are a fellow, because to your point, you can apply for the MRA.
Hi Darren, I wonder if I can work in the US as an actuarial analyst in the midway of getting full exemption of Australian actuary institution? I.e., haven’t got FIAA certificate but work in the US?
10 years+ experience as an associate or fellow, is at least $150k+ in NYC. And yes it can skyrocket from there if you move into senior actuarial roles and/or management.
Hello sir i am indian 20 yrs old student ....and confused to persue actuarial sceince or not becuz i fear of failing exams and people tell it becomes more tough to clear further exams ....pls connect with me through linkedin sir, ihave sent u request .pls guide me sir🙏🏻
Aight, some points - 0. It is very unprofessional to ask someone to accept your linkedin request on TH-cam or any other social media or even irl 1. Ask yourself whether you have have the will and interest to study actuarial science. Can you work with numbers and large sets of data? Do you wish to commit 5-8 years of your life to studying and passing qualification exams? Don't get intrigued by the salaries these coaching fellas tell you. After 10 years of work ex in insurance, you can expect a salary of 40-60 lpa. If money is your sole aim (which seems like it) then go for data science software programming roles or do a MBA. 2. Lad's working in the US, Indian actuarial domain and American actuarial domain are way too different, in India, actuarial science is still a niche field of study. 3. Yes it is difficult to actually STUDY for further exams as you start working after clearing 2-3 exams, it's recommended to clear maximum number of exams in your University time itself as it's very hard to maintain a work life balance along with study routines while working 4. The curriculum is not rocket science tho the help/reference materials and tutors are quite expensive but they aren't necessity but just a luxury. Believe in your hard work, chalk out a study plan and just study the damn syllabus and pass the exams.
@@anuragpant2545 demand for actuaries in the future would be in unorthodox/ non insurance fields. More in Enterprise risk management or M&A or in tech as data science professionals
@@anuragpant2545 I have no idea about immigration and all, so can't comment which visa you might need to work in the US. For a getting a job there, get accredited from SOA/CAS, the American actuarial bodies. The insurance industry is a heavily regulated market and hence, every country has different laws, regulations and regulatory bodies. Even if you come up with the best insurance product, chances are that regulators of different countries may not let you take your product to the market.
This is one of the most useful, intruguing and motivating actuaries videos I have watched. I've been trying so hard to find out more information in this field, but it's so hard to find a video that explains it well. You have explained it very well. Thank you
It's interesting how near to your own opinion I was in terms of Actuarial science as a career and as a discipline. This is a career that goes beyond the expectation of most people, specially in terms of the industry and workplace... I am certainly driven by it and its fundamentals.
I would undead myself if I had to waste my life being an actuary
Q
Plal0pp0lqap0lp0lpl00laqqa0lpppl0ppppqqpq0lql9@@Eizengoldt
@@Eizengoldt you prob don’t have to worry about being one
@@Justtalking2U I'm perfectly happy as a Data scientist, thank you very much
@@Eizengoldt I thought you felt dead? You said you’d undead yourself if you were an actuary. Meaning you’d feel alive
I myself is an actuary, loved your video, one minor comment about the PAY - yes we do have more balance but in the city like NYC(area), after 5 years of work in Insurance industry, I realized that a overall higher salary than a higher pay per hour is more affordable, since at the end of day I am asking myself "Do I have more money to save and invest?" Thus I am currently considering making a slight career change to quant related jobs ... (I really enjoy current actuarial role)
Hi
May I know what are quant related jobs,
And do we need some other skills and certification for those quant related jobs?
Please educate.
bro please keep making these videos ... im preparing for ifoa actuary exams and would surely watch your videos
hi Darren,
really appreciate & liked your video.
actuarial science as a career was very neatly explained along with applications.
it goes without saying that this video will be in my collection for someone who wants clarity on "what is an actuary"
Yes Another actuary chanel! Is hard to find ones haha, keep going Darren nice vid
This was honestly the best vid that explains actuarial science thx
That was exceptionally well communicated to aspiring actuary what actuary is all about
You should be more active on your you tube channel
Appreciate the feedback, and bad excuse but it's been a really busy year. I have made some changes now and I am planning to be more consistent with uploads starting in October 2023, I hope to see you in the comments again!
@@Darren_GovenderHello 👋,
Still waiting for you to be active on YT channel for more actuary work experience?!?!
@@so-cool- I do too ! Please post more videos in 2024 !!
@@MathSocrate hey! are you planning or applying for actuary?? Or are you fond of mathematics?? do you like pure or applied mathematics?????
@@so-cool- I'm planning for actuary ! I am currently studying mathematics and want to specialize in actuarial science
Thank you for the video, it was interesting and very helpful. I'm looking forward to more videos about it.
Welcome to the New York City😂😂👍👍
Thanks, Darren, I've been on the fence about whether to pursue a career as an actuary or a career in cyber. This video has definitely pushed me more toward actuary. Although I will admit I'm still a little worried about getting to the end of my degree and being able to find a job as a student actuary. I feel like the supply of geeky math nerds is pretty high and the demand for untrained actuaries is pretty low. How competitive is the entry-level actuarial job space?
A few important factors here - what market are you looking in? Do you have internship experience? Do you have any exams? Generally speaking - with entry level exams and some internship experience, entry level jobs for actuaries, in my experience, can be found without too much of a fuss.
Do not choose actuary is a hoox, much better cyber, you will end up in one of the most politicised, old mentality, corrupted place insurance 😀
@@alecerte9090isn't politics and corruption present in all finance professionals ? What made you say this? Can you please elaborate? I am an actuary aspirant.
In 10 years time you will regret it, actuary is just another employee with stress and very basic tasks, in the end math and statistics will be superceded by politics 😉
Stress for sure in some cases but not sure about the basic tasks, it can be pretty complex at times. In terms of what is better in 10 years, who knows at this point, but I agree politics is an important field and right now everyone, in some way, is invested in that part of society.
How you differ actuary to other financial professions like CFA in terms of emerging fields like investments, financial consultations etc? Can you please go in details about the role of an actuary in these fields?
good idea for a video, will try to get one up about this soon!
Darren are you from South Africa?
it says so on his about on youtube lol. You can also tell from his accent
you know you're an actuarial when instead of saying actuary is a highly paid profession, you draw a mathematical equation 😂
Liked the video - very informative.
very helpful and insightful
Wow Darren thoroughly enjoyed this video bru! You should definitely make more videos 🎉
It would be great to understand your pathway ... certified university course or via an institutional certification.
I'll make a video about the journey sometime in the future but high level: Actuarial Science degree in South Africa, joined an international reinsurer, took the South African Actuarial exams, move around with the company and now find myself in NYC
This was a great video, seeing another SA from my demographic pursuing this career is amazing. Hope you enjoy NYC as much as I have!
Is this a career one could switch to in their mid forties as a career change?
If you have related experience and are willing to take the exams, I don't see why not!
amazing video
How many exemptions did you graduate with from university
I also take this video as a staple way to serve information within the working setting.
awesome video, thank you boss
Thank you! I am deciding on the college course to take, the video helped a lot!
this is so interesting to watch as someone who will soon move to NY to start an actuarial career :) thank you!
What garanty our predicting costs will be true? What is the punishment of our mistake?
To live in america is costly because people who are actuaries in South Africa have double story houses and considered rich
HOW can I find job in us? I'm from Iran and master of actuary in eco univeesity.
Hii dareen anshul this side i'm from india my dream to become actuary can help me wht can i do i pursuing my final semester bachelor of science in mathematics thanks 👍🙏
hi Darren even I am planning to work between an actuary and Data Scientist. Can I connect with you if possible on linkedin??
very informative, thank you for this video
great perspective - agree with what you shared here
Hello Sir, thanks much for the detailed video. Please I will love to get your counsel; I have a BSc in actuarial Science and MSc in Applied Math and CS. For my career path in becoming an actuary, I am thinking of pursuing an MBA in business Analytics and take the actuarial exams along side or afterwards, or just doing MSc in actuarial science. Which path is be better?
Hi I hope you are doing well. I am Deepjyoti, doing my bachelor's in Maths and statistics honours from India. I am feeling interesting about the actuary field. Could you please tell me the perfect carrier path to become actually in the USA/UK. I hope you will reply soon
Take the exams and get an entry level actuarial role! :)
How much you make
You should post more
I am surprised this was your first and only video
hello, can i know where you completed your studies from? I'm currently looking into acturial courses/degrees and would like an insight to it.
I studied in South Africa at the university of Cape Town. However, wherever you study, you can take the early exams in your first year.
Best content today by far
I know for certain that you follow Ali Abdaal👀
hahaha good catch!
Heyy... Would I be able to work as an actuary in the USA if I completed my exams in South Africa through ASSA. I know there isn't an MRA between ASSA and SOA but will US employers be willing to overlook that?
Yes! This is what I am doing actually but it depends on a few factors and the area a company is hiring for. Outside of very traditional reserving roles, US companies are more relaxed on credentials. For example, it is common to be an Associate Actuary in the US and still progress in your career whereas I know this is quite rare in South Africa. If you have experience in an actuarial role and have credentials from outside of the US, I haven't found this to be a hinderance. It's even easier if you are a fellow, because to your point, you can apply for the MRA.
Hi! Great video! May I ask you how those animations are made? I’d really like to start making videos as well
sure - almost everything was done in Final Cut Pro with some plugins.
As a south african software engineer wanting to make it abroad, its inspiring seeing someone making it abroad. Did you move over with H1B ?
I moved over via intracompany transfer
Nothing more beautiful than a South African accent
Hi Darren, I wonder if I can work in the US as an actuarial analyst in the midway of getting full exemption of Australian actuary institution? I.e., haven’t got FIAA certificate but work in the US?
depending on the role, definitely possible - I did this! (but with South African exams)
@@Darren_Govender Thank you Darren! Hope you make more videos like this :-)
Sir what would salary i expect after 10 year experience in USA
200,000+ if you’re a manager
10 years+ experience as an associate or fellow, is at least $150k+ in NYC. And yes it can skyrocket from there if you move into senior actuarial roles and/or management.
Actuaries is boring. Just invest in bitcoin
Hey man . Love the video , just wondering what you studied and where you studied it ?
Appreciate the feedback! I studied Actuarial Science at UCT in Cape Town.
Hello sir i am indian 20 yrs old student ....and confused to persue actuarial sceince or not becuz i fear of failing exams and people tell it becomes more tough to clear further exams ....pls connect with me through linkedin sir, ihave sent u request .pls guide me sir🙏🏻
Aight, some points -
0. It is very unprofessional to ask someone to accept your linkedin request on TH-cam or any other social media or even irl
1. Ask yourself whether you have have the will and interest to study actuarial science. Can you work with numbers and large sets of data? Do you wish to commit 5-8 years of your life to studying and passing qualification exams?
Don't get intrigued by the salaries these coaching fellas tell you. After 10 years of work ex in insurance, you can expect a salary of 40-60 lpa. If money is your sole aim (which seems like it) then go for data science software programming roles or do a MBA.
2. Lad's working in the US, Indian actuarial domain and American actuarial domain are way too different, in India, actuarial science is still a niche field of study.
3. Yes it is difficult to actually STUDY for further exams as you start working after clearing 2-3 exams, it's recommended to clear maximum number of exams in your University time itself as it's very hard to maintain a work life balance along with study routines while working
4. The curriculum is not rocket science tho the help/reference materials and tutors are quite expensive but they aren't necessity but just a luxury. Believe in your hard work, chalk out a study plan and just study the damn syllabus and pass the exams.
@@smd5093 I have one question. What will be the demand for actuarial science in the future?
@@anuragpant2545 demand for actuaries in the future would be in unorthodox/ non insurance fields. More in Enterprise risk management or M&A or in tech as data science professionals
@@smd5093 I am from India but I want to work as an actuary in US how can this be possible ?
@@anuragpant2545 I have no idea about immigration and all, so can't comment which visa you might need to work in the US.
For a getting a job there, get accredited from SOA/CAS, the American actuarial bodies. The insurance industry is a heavily regulated market and hence, every country has different laws, regulations and regulatory bodies. Even if you come up with the best insurance product, chances are that regulators of different countries may not let you take your product to the market.
Should have stayed in South Africa. New York looks terrible
haha ... nothing beats Cape Town
Actuaries suck