The Not So Popular, Yet Growing Career Of Actuarial Science You Can Consider | Educate - Youth Incorporated

Akanksha Ahire, aspiring feature writer explains, Risk and loss are factors that exist in any business, and are bound to occur in every company be it big or small. 

Although these factors are inevitable, a proper analysis of the condition of a company can help in mitigating the risk and avoid losses to a certain extent. There are experts now who perform an actual job of just this. Analyzing the risk an organization might face, and working towards avoiding or overcoming that risk has become a career, popularly known as Actuarial Science.  

Though not many are aware of this career, it is a growing one especially in India. So let’s understand what it actually is. Actuarial Science deals with studying, assessing, analyzing, predicting and interpreting of risks, an insurance, financial institution and other similar organizations might face. An expert possessing the qualifications of Actuarial Science is known as an Actuary...

Those willing to pursue Actuarial Science as their career must compulsorily be good at mathematics, statistics, probability principles, economics, demographics, and finance. 

To pursue an education in the field of Actuarial Science, there are certain eligibility criteria that you need to fulfill: 

• You must have completed the 10+2 education from recognized educational institutes
• You must be 18 years of age 
• One must enroll themselves in Institute of Actuaries of India (IAI). It is an official institute appoints actuaries all over India. 
• You must clear the Actuarial Common Entrance Test (ACET) which has a total of 15 subjects of Financial Mathematics, Business Economics, Statistical Methods, Enterprise Risk Management, etc. This test is conducted by IAI bi-annually. 

Here are some of the colleges/universities providing UG/PG courses in Actuarial Science: 

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Source: Youth Incorporated