Where can I study actuary in South Africa?
Table of Contents
Where can I study actuary in South Africa?
Accredited Universities:
| UNIVERSITY | WEBSITE |
|---|---|
| Cape Town | https://www.commerce.uct.ac.za/Managementstudies/actuarialscience/ |
| Pretoria | http://www.up.ac.za/insurance-and-actuarial-science |
| Johannesburg | https://www.uj.ac.za/faculties/science/ |
| Stellenbosch | http://academic.sun.ac.za/statistics/ |
How many actuaries are there in South Africa?
How many actuaries are there? South Africa has approximately 1100 practising actuaries and 2000 actuarial students who have already completed their undergraduate studies.
How many years does it take to study actuary in South Africa?
It takes, on average, 9 years to qualify as an actuary, of which 4 are normally full-time University studies and 5 years part-time studies while the candidate is working. Most employers offer study leave to their actuarial students as well as some form of subsidy towards the cost of further studies.
How much are actuaries paid in South Africa?
How much does a Actuary make in South Africa? The average actuary salary in South Africa is R 6 300 000 per year or R 3 231 per hour. Entry-level positions start at R 960 000 per year, while most experienced workers make up to R 10 800 000 per year.
What subjects are needed for actuary?
Essentially, the subjects you’ll need to be an actuary are:
- Calculus.
- Algebra.
- Statistics.
- Probability.
- Computer Science.
- Finance.
- Economics.
- Business.
How many board exams do actuaries take in South Africa?
To become an actuary (Fellow of the Actuarial Society of South Africa – FASSA), one needs to enrol through a professional body and pass a series of roughly 16 exams.
Are actuaries in demand in South Africa?
The qualified actuaries in South Africa are highly sought after and do not have any trouble finding top positions. The profession is also expanding into new areas all the time, which brings with it new job opportunities.
How many exams do you need to pass to become an actuary?
seven exams
Professional Actuary Certification A graduating actuarial science major will need to pass at least two or three of the industry’s certification exams to land a job. Once employed, actuaries continue studying and preparation to complete the full battery of seven exams to become certified at the associate actuary level.
How do I become an actuary in South Africa?
To qualify as an actuary in South Africa, you need to complete the subjects prescribed in the syllabus of the Actuarial Society. Exemptions from many of these subjects can be obtained by completing relevant subjects at accredited universities.
Where do actuaries work in South Africa?
Some actuaries specialise in technical research, while others may focus more on commercial activities. Some go on to be practising specialists in one of the traditional financial fields, with others becoming senior managers in insurance companies or firms of consultants.
What subjects are needed to become an actuary in South Africa?
You will need to have taken the following subjects at high school: Mathematics (with a final mark of 80%) English or Afrikaans Home Language or First Additional Language (with a final mark of 60-69%)
Do actuaries work in banks?
Some large financial institutions, particularly lenders, employ actuaries to assess risks on loan products. Actuaries can be used to measure the potential for loss in an investment portfolio, which directly crosses over into the realm of financial analysis.
Is actuary in demand in South Africa?
What types of actuaries are there?
5 Main Types of Actuaries (Plus Entry-Level Salary)
- What is life insurance?
- Predictions life insurance actuaries make.
- Data life insurance actuaries use.
- What is health insurance?
- Predictions health insurance actuaries make.
- Data health insurance actuaries use.
- What is an annuity?
- Predictions S&R actuaries make.
Is actuary a finance job?
What is an actuary? Actuaries are certified professionals who identify risks by analyzing data and statistical information. These professionals often work for finance or insurance companies and help ascertain the likelihood of certain events occurring.
What is the highest paid type of actuary?
actuary fellow in casualty insurance
While insurance actuaries are the most common type of actuaries, their salaries tend to be lower than property and casualty actuaries. In fact, the highest paid position in this field is an actuary fellow in casualty insurance—which can earn you over $550,000 per year.
