Actuarial Science

What is Actuarial Science ?

• calculation involving in insurance (major)
  
• calculation in risk
• calculation to applied in investment

Actuarial Science is still an unpopular course, but already been expected this course is potentially develop in the future.

What is the requirement for a Actuarial Science student ?

• strong mathematics basic
• good in mathematics calculation
• interested in probability, business, economic
• a little bit software programming skill (C/C++ language)
• good language communication (English)
• hardworking and perseverance

Field of job :

• insurance company (calculating policy payment)
• bank (bank investment)
• investment company (investment)
• large company (actuarial analyst)
• education (as lecturer or teacher)

Salary : (first/second class degree)

• fresh graduate (without any SOA paper) - RM 2000 +
• fresh graduate (with 1/2 SOA paper) - RM 2500 +
• fresh graduate (with 3/4 SOA paper) - RM 3000 +
• experienced degree holder (with 5/6 SOA paper) - RM 7000 +
• experienced degree holder (with 7/8 SOA paper) - RM 10000 +

If fresh graduate without any SOA paper, the salary is extremely low.
Thus most student will sit for SOA paper during university, to make sure that passed at least 3 SOA paper when graduate from degree.

*Actuarial Science course student in Malaysia is taking (United State) SOA professional paper.
SOA= Society of Actuaries (www.soa.org)