Congratulations for selecting the path of Actuarial Science as your career.
Actuarial Science is among the most lucrative professions, offering competitive pay and bonuses throughout your career, with actuaries having one of the highest graduate salaries. An actuary conducts practical calculations and offers practical answers to financial issues. Very few professions offer on-going learning and such a direct influence on society. The chance for mental stimulation and recognition is a major driving force for pursuing a career as an actuary.
Surely, you will love to know that:
Now that you understand the reasoning behind choosing to be an Actuary, let us tell you about what awaits you in this course.
In order to become an actuary, you must pass or be exempted from a series of exams administered by the Actuarial Society of South Africa (ASSA). Multiple South African universities offer actuarial courses that allow students to earn exemptions from certain exams. Â Presently, there are Seven (7) ASSA-accredited universities where one can obtain an Actuarial Science degree. Those are the:
Actuarial Exemptions
Exemptions are actuarial exams that can be taken and successfully completed by actuarial students during their time at university. They are a crucial part of an Actuarial Science student. Passing exemptions at university means one is exempted by ASSA from writing these exams. Exemptions for the professional actuarial exams are not granted automatically. They are awarded only to students who have excelled in both their overall performance and the specific university courses. Actuarial Exemptions are important because they significantly speed up the student’s advancement in becoming a fully certified actuary. Therefore, by obtaining exemptions, actuarial students can not only reduce the burden of exams (after completing a degree) but also dedicate their time to important aspects of professional growth.
Click here to learn more about actuarial exemptions offered by each of the ASSA-Accredited universities.
Here is a visual roadmap of how to become a qualified Actuary.
Life happens, and the field of Actuarial Science is no exception. SAADP exists for this reason. Our duty is to guarantee your academic achievement despite any challenges life may present. In an instance where one is unable to continue with Actuarial Science, it is easy to transition to other related courses. These include:
If it happens that you successfully transition to related courses, SAADP may continue to support your academic journey until completion.
SAADP Affiliated Universities
Currently, Wits, UP, and UCT are the only participating universities. To be considered for SAADP support programs, students must be studying at one of the SAADP affiliated universities. Students from the not yet affiliated universities are eligible to apply, but they must have applied and been accepted to study Actuarial Science at one of the affiliated universities. Nevertheless, all ASSA-accredited universities will soon be part of SAADP.
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