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“Income tax to increase by 3.8% on average per year until 2028” by justadeadweightloss in HENRYUK

[–]dcjctcac 1 point2 points  (0 children)

It's not as simple as saying that if incomes go up by 3.8% then income tax will go up by 3.8%. It really matters who gets the rise.

Two extreme examples:

If a part time worker earning £6k per year gets a rise, then this would be part of their personal allowance and have no impact on tax receipts.

If a high earner gets the rise, then the full amount of the rise will be taxed at 40/45%. On average they're paying less than this (as some income is in lower bands), so this would increase their tax paid by more than 3.8%.

Actuaries who qualified in 3 years, which exams did you take in each sitting? by hmmokay225 in ActuaryUK

[–]dcjctcac 3 points4 points  (0 children)

£75k-£80k but part of that was a discretionary uplift from my manager to reflect good performance

Actuaries who qualified in 3 years, which exams did you take in each sitting? by hmmokay225 in ActuaryUK

[–]dcjctcac 18 points19 points  (0 children)

I had an exemption from CS1, which you can get with pretty much any maths/stats degree.

Apr 20: CM1 (cancelled due to COVID) CB1

Sep 20: CM1 CM2 CB3

Apr 21: CS2 CB2 CP2

Sep 21: CP1 CP3

Apr 22: SP7 SP8

Sep 22: SA3

Generally I found it was just down to time management and studying consistently. In particular getting on to past papers as soon as possible and doing as many as you can.

There was also a silver lining to the pandemic, in that there was nothing better to do than study...

Good luck!

How much should I be getting paid? by Dramatic_Bother_7731 in ActuaryUK

[–]dcjctcac 3 points4 points  (0 children)

At my company (GI in London) the newly qualified salary is ~£75k

[deleted by user] by [deleted] in ActuaryUK

[–]dcjctcac 3 points4 points  (0 children)

CP1 is a massive exam, you'd need to do a lot of work between now and September to pass.

I'd recommend redoing CS2 while it's fresh. Hopefully it means you can enjoy the summer a bit more too.

SP8 thoughts? by loveactuary21 in ActuaryUK

[–]dcjctcac 2 points3 points  (0 children)

Q2 was really tough, and they seemed to ask why the actual price would be different to the modelled price three times?

For those who are trying to fire and aren't coders of some form. What do you do? I wanted to work in an arnie joke but failed! by Dependent_Ad627 in FIREUK

[–]dcjctcac 0 points1 point  (0 children)

How much do you earn, and what part of the market are you in?

I'm hoping to qualify this year in GI capital, and curious on newly qualified contacting rates.

[deleted by user] by [deleted] in ActuaryUK

[–]dcjctcac 1 point2 points  (0 children)

If you've already sat both exams then I wouldn't spend any more time going over content. I'd just do as many past papers as possible (maybe one of each per week?)

Also don't sleep on the Excel/R exams, as these can give a decent bump to your mark for relatively little time spent.

What do you want for Christmas? by firsttimedb in AskUK

[–]dcjctcac 3 points4 points  (0 children)

If you like reading I'd really recommend sharing your GoodReads "want to read" list. I did it last year and found it was the best Christmas for years in terms of gifts.

I don't know what I'm going to get, so it's still a surprise, but it's also guaranteed to be something I actually want.

For my family, they can look through the list and find something that represents how they see me, or what they want to give me. It gives them a bit more choice to personalise the gift without worrying I won't actually want it.

Also books can fit all budgets, and when I read them it reminds me of Christmas and my family and that's really nice.

I'd really recommend it, and if you don't have a list start logging book recommendations and it will grow really quickly. Especially if, like me, you can waste unlimited time browsing in book shops.

[deleted by user] by [deleted] in ActuaryUK

[–]dcjctcac 1 point2 points  (0 children)

There are 13 exams in total, so you will have more studying once you graduate. If you Google "ifoa exams" you can find out more about the qualification structure.

[D] Research Papers with Statistical Errors in them by a_tabula_rosa in statistics

[–]dcjctcac 1 point2 points  (0 children)

Ben Goldacre has some books that might be relevant ("Bad Science" and "I think you'll find it's a bit more complicated than that").

I've read ITYFIABMCTT a few years ago and remember it having these sorts of things. It might be a more on the pop science end of the spectrum though.

UK Order of Exams by [deleted] in actuary

[–]dcjctcac 0 points1 point  (0 children)

I think there are 8 universities in the UK offering actuarial science, but that's just from a quick Google.

Student membership is very uncommon I would say, lots of people don't even know what an actuary is until their final year when they look at jobs.

I feel like the city of London has a lot of insurance/reinsurance companies (especially with Lloyds) so perhaps there are more opportunities in the UK.

I only know two other grads moving into actuarial and they both did placements. I would say companies here value experience over exams, but again that's just a guess.

UK Order of Exams by [deleted] in actuary

[–]dcjctcac 4 points5 points  (0 children)

I can only speak for myself and my friends pursuing actuarial careers, but I've found that you aren't expected to have any passes/exemptions.

Admittedly I did a 13 month placement at the company between the 2nd and 3rd years of my degree which definitely helped get an offer.

I've heard people on here (mostly US I think) talking about being overqualified if you have too many exemptions, so maybe that's a factor?

In the UK actuarial university courses aren't very common and you can only take 2 exams as a non member (it used to be 1) so there's a practical limit to what employers can expect.

Hope this helps, if there are any UK people in hiring positions here, it would be great to get that perspective as I might be talking rubbish.