What Perceptions Do Actuarial Graduates Hold on Their University Studies, Work Experience and Career Direction after Completing the University Program

Abstract

Established over 160 years ago, actuarial studies is a highly regarded disciplineand many students aspire to gain admission into the program offered by universities worldwide. The discipline is reknowned for offering students with the potential of excellent career prospects and high salaries. The experience of actuarial graduates has not been systematically recorded and analysed. This paper summarises a study implemented on students in the actuarial alumni body from a leading Australian university on their perceptions of the university education program, the profession qualification process and their career aspirations. 66 respondents participated in the study and 33 respondents completed the study in its entirety. The respondents confirmed popular belief that attaining the Fully Qualified Actuary (FQA) title is time-consuming and difficult. Respondents are generall satisfied with their current job, especiall regarding their financial rewards. However, whilst respondents have aspirations to become part of management, they are insufficiently skilled and are less inclined to seek employer support to develop these skills. The study complies with the protocols of the UNSW Ethics Committee.

Keywords: Actuarial profession, education program, career development