Is there a demand for actuaries in India?

According to experts, there will be a 20\% increase in the demand for actuaries globally in the coming decade. However, the alarming fact is that there are only around 460 actuaries currently in India for a population of more than 1.3 million.

Is it worth becoming an actuary in India?

While this profession can be a very lucrative and self-fulfilling, one needs to be fully aware of what one is getting into. Being an actuary would cost you anywhere between 8-10 years and even more. This means that you get to spend your most fruitful years (20s and mid 30s) giving actuarial papers.

Is actuarial a good career in India?

The Scope of Actuarial Science in India is immense. As per the data, there are only 9,000 actuaries among 1.3 billion citizens in India. What is interesting is that Actuarial Science is one of the highest-paying jobs. A fresher in the respective field can be paid up to Rs.

Who can practice as a actuary in India?

So, it depends on company to company and papers you have cleared, knowledge of them you possess, etc. However, as a fresher, 90\% of the time, you are hired as an intern in a company. A newly qualified actuary today does not earn less than Rs. 15 to 20 lakhs.

Is actuary better than CA?

Passing actuarial exams is little bit tougher than passing CA exams. Actuarial study requires lot of mathematical and statistical skills. One who is better in Maths and States can opt for Actuaries, but keeping in mind its passing \% and hard work required.

How much does a fully qualified actuary earn in India?

The average Actuary salary in India is INR 10.11 lakh per annum. Pay in this field starts from INR 3.5 lakh per annum and goes up to INR 50 lakh per annum depending on multiple factors such as your experience and skills.

How to become an actuary in India?

Step:-2 HOW? In India, most of the students prefer to give exam either from Institute of Actuaries of India (IAI) or Institute and faculty of Actuaries of India (IFOA, UK). Although there are other recognized Actuarial Examination bodies like SOA (Society of Actuaries, USA) & CAS (Causality Actuarial Society, USA)

Why is there a shortage of Actuaries in India?

One of the reasons behind such a lag in demand and supply is the lack of awareness among the students. The Scope of Actuarial Science in India is immense. As per the data, there are only 9,000 actuaries among 1.3 billion citizens in India. What is interesting is that Actuarial Science is one of the highest-paying jobs.

What are the job prospects for actuaries in the insurance field?

In the insurance field, Actuaries assess financial risk, compliance of reports, etc. Level 2: The job prospects of actuaries grow as they begin to grow in the field of data analytics and predictive modeling. With experience and the right skill set you can even become CEO.

Which are the best institutes for actuarial exams?

There are 4 well-known institutes through which one could appear for Actuarial papers: 1 Institute of Actuaries of India (IAI) 2 Institute & Faculty of Actuaries, Uk (IFoA) 3 Society of Actuaries, US (SoA) and. 4 Casualty Actuarial Society, US (CAS)