IS THIS A DEAD END OF FRESHERS JOB IN ACTUARIAL? PART-1

No, it’s a fresh new start. Profession has just started to mushroom in India. 

Actuaries in India has conventionally worked in Insurance Sector Only. Most of them are employed in this field and still many actuaries working in Indian insurance companies are NRIs. There are as many as 8 companies as per my knowledge who are seeking actuaries but they are unable to find any. So basically, the only field where actuaries are employed is still looking for actuaries. It hasn't got sufficient numbers yet. This is about Fellow Actuaries.

OK, let’s agree fresher are not getting jobs these days. But… Are they really looking for jobs in right place? I see lot of things missing from young students. Everyone is complaining, No one is actually thinking where the problem is. I graduated few years back and all my batch-mates who were into actuarial got jobs within 4-5 months of graduation. I got one within few days, which I quit after 3 months to have my own set-up.

First of all, who in India recruit actuarial Professionals? 

1.     Life Insurance

2.     General Insurance

3.     Health Insurance

4.     Reinsurance Companies

5.     Pension Funds

6.     Consultants

7.     Investments

8.     Government

9.     Academics

10.Risk Management

(Source : IAI)

Now, Let’s note a few quick things you should do, to find right opportunities at right time

1.     Clean, Updated Linked In account is a must.

2.     Just having a linked In Account won’t do.  What you need to do is, make a list of Fellows and follow them on linked In. (Don’t send them annoying messages, seeking a job desperately :p). Likewise Make a list of Insurance companies and Multinational Consultancies working in India. Make sure to have connect with all of them.

3.     Do check Institute’s career page to get a note of vacancies.

4.     Look for jobs posted in various portals like (iimjobs, monster, Naukri etc)

5.     Join Facebook Groups. I frequently see some jobs posting in my Facebook group (https://www.facebook.com/groups/actuary.aspirants)

Is this Enough? Definitely No.

Most important thing is to have a Neat and Clean, Small and presentable CV.

Things to note while making a CV

-    Freshers CV should not be of More than 1 page.

-    Never Ever write Career Objective in it.

  -    Never Ever Write “Curriculum Vitae” in bold on the  top. Instead use the space to write your name.

  -    Write Only Contact no. and Email ID below your  Name on the top of page.

  -    Start with Most relevant qualification and recent    one. Old ones to be followed in order.

  -    Soft Skills Acquired

  -    Achievements, if any.

  -    Personal Details (Marital Status, Languages known,    Age, Address etc). Don’t write too many.

  -    If Possible, Do give reference of any notable person who knows you personally.

-    Font should be small and simple. Highlight important things efficiently.

These point should help you to prepare an apt CV.

Continue Reading … Part 2 

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Also Read - Actuarial Jobs - Myths Busted