How to overcome the challenges of the actuarial profession
If you’re considering becoming an actuary, you might wonder about the best advice for the difficulties that lie ahead. We asked our expert panel of actuaries, including Adelaida, Brooke, Don, and Kemi, for their thoughts on how to excel as an actuary. Enjoy this sampling of their advice and find even more in the included video.
- Communication skills are essential. Adelaida emphasized the importance of “communication skills, whether you’re client facing or not.” She adds that as an actuary, you have to “explain [your] ideas, solutions, and results to people.” Brooke agrees: “Everyone needs to understand your ideas and results.”
- Intellectual curiosity is a must. Don says you should be able “to step back, look at the results, and determine if they make sense.” He adds that “putting the inputs in correctly isn’t enough. [You need to] understand what the results are telling you.” That requires curiosity and a willingness to think things through.
- Be open to learning. Building on the need for curiosity, Kemi says that you should “be teachable, be approachable, don’t think you know it all, and ask a lot of questions.” Ken adds that “you’ll have to make choices at every step in the field, which will give you opportunities to build your knowledge and skill set.”
- Get started early. Adelaida recommends “starting exams early, learning as much as you can about different paths that exist, networking early, and joining an actuarial community that will support you.” If you decide that actuarial science is right for you, you can start right away!
- Follow your passions and interests. Finally, Don suggests that it’s important to “be flexible [and] well-rounded” in your approach to actuarial science. “You’re responsible for your own career,” he advises, “so don’t solely expect your manager to determine your career path for you.”
Becoming a successful actuary involves a combination of technical expertise, effective communication, intellectual curiosity, and a proactive approach to personal and professional development. By adhering to these principles, you can navigate the challenges of this profession and excel as an actuary!