@MJtheFellowActuary 4 жыл бұрын
Need Actuarial Career Advice? www.fiverr.com/share/kLvaXA Actuarial Statistics on Udemy www.udemy.com/course/actuarial-statistics-exam-pct3/?referralCode=C3DC46A18BB4C5BABB88
@EmanuelLeipa5 5 жыл бұрын
1. Life Actuary 0:55 2. Heath Actuary 1:53 3. General Actuary 2:39 4. Pension Actuary 4:25 5. Finance Actuary 5:25 6. Bank Actuary 6:26 7. Enterprise Risk Actuary 7:23 This video has been very Helpful. Thanks you!
@MJtheFellowActuary 5 жыл бұрын
Appreciate the list with the times :) thank you
@njclondon2009 6 жыл бұрын
my advice to any aspiring actuary... go for a SMALL company. I work in GI. In GI, you have further subdivision. Pricing actuary, reserving actuary and capital actuary. I'm sure this must be the same for life and pensions also. I can't talk about the non-traditional roles. The point is, if you work for a small company, you will get to do all jobs and see the whole picture, if you work in a larger GI company, you'll be pigeon holed, eg you're a GI reserving actuary or a GI pricing actuary. In the five years I have been in the field, I have done IT, reserving, pricing, capital, reinsurance and investment, I am now looking at machine learning. Think SMALL!
@Javigarcia222 5 жыл бұрын
What are the main tasks for a capital actuary?
@Jojo-hz6rk 4 жыл бұрын
Think BIG by Thinking SMALL !! Nice one haha
@Jojo-hz6rk 4 жыл бұрын
Javier García I guess determining capital levels necessary for the company to hold, and optimising them by suggesting/evaluating reinsurance programs
@MJtheFellowActuary 9 жыл бұрын
You also get a consultant actuary who helps out smaller companies. They work for accounting firms like EY or KPMG. They are usually Life Actuaries who help audit the books of Life Insurance companies.
@lepatxpisang7773 6 жыл бұрын
MJ the Student Actuary do you have any advises for a new guys that try to study in actuarial science? I'm a Malaysian so yeah can you give me some advise or tips in order to face this course in the university life.. Thanks MJ the Student Actuary
@ruthnavarre4152 9 жыл бұрын
i thought this was gonna be one of those videos about stereotypes. Thanks, though, very informative!
@chaneldelarosa9786 4 жыл бұрын
So you had a prejudice about the video being about stereotypes? Lol
@chueyv9080 9 жыл бұрын
I've been watching your videos for a while now . I find them very informative and fun to watch . Thanks for sharing your thoughts and information!
@MJtheFellowActuary 9 жыл бұрын
Chuey Vang Thank you so much for your kind words. If there is a specific video that you would like me to make, let me know and I will consider it :-)
@dheeshanakoswatte3839 9 жыл бұрын
Hi, Just wanted to say, You're doing a great job there! Keep it up.. cheers!!!
@MJtheFellowActuary 9 жыл бұрын
Dheeshana Koswatte Thank you so much :-) Means a lot.
@martinngombe2848 8 жыл бұрын
that's great news, i now have a reason to study actuarial science
@angby509 7 жыл бұрын
Does airline hire actuary? What do you call them? What actuary usually do in airline? Does actuary in airline has a high demand and paying?I would love to work in an airport with my mathematical skills.
@MarcelleLabuschagne 7 жыл бұрын
Discovery' Logo: the pyramid is based on the levels of their various reward programmes (Vitality). You know, how you have to work and do stuff and get assessments contantly to upgrade your status from "Blue" to "silver" to "gold" etc.
@MJtheFellowActuary 7 жыл бұрын
I was at Discovery earlier this year and I pointed out to some of the employees that the logo is a pyramid and they were so surprised because they hadn't realised it. But then I only realised it when someone pointed it out to me!
@gmanfromdibloc2479 Ай бұрын
I hope I can work in government sector as an actuary as I'd like to have an impact on public policy and economic development.
@terranceforrestjr1159 7 жыл бұрын
MJ, great video, currently starting to study to get my actuarial certifications, video helped me know what path I want to take
@MJtheFellowActuary 7 жыл бұрын
Thanks so much! and all the best on the journey!!
@athenapedro2860 6 ай бұрын
Hi MJ, love your videos. Very interesting and informative. Please explain this cocept of exemptions?
@MohitBharati 8 жыл бұрын
Hey MJ! How about actuaries working in Data Science / Data Mining & Big data Analytics what specific skill-set do you think would be valuable
@MJtheFellowActuary 8 жыл бұрын
+Mohit Bharati Yes data analytics is a key skill for every actuary. It is covered in great detail in one of the core subjects that all actuaries have to do. Its called Advanced Statistics and its code is CT6. I've just made a fun video about how an actuary can use Big Data analytics with Facebook to predict who they will marry.
@NirajC72 9 жыл бұрын
MJ do you have any CT1 videos for beginners, love the channel by the way keep making awesome videos!
@MJtheFellowActuary 9 жыл бұрын
NirajC72 I have some chapter summaries of CT1. Check them out and if you need further explanation on any of the concepts, let me know in the comments. I will either reply in the comments or make a video about it :-)
@tyronef87 8 жыл бұрын
Just a quick comment, in my opinion there are 2 types of general actuaries, a pricing actuary and a reserving and Capital modelling actuary (in the UK they even split st3 into 2 subjects, st7 and st8) and from my experience in the field, the work is very different and there aren't many people if any who are doing both at the same time
@MJtheFellowActuary 8 жыл бұрын
in South Africa they combined the two subjects into one, but you are correct, they are two distinct areas and most big companies have dedicated actuaries to each area.
@tyronef87 8 жыл бұрын
+MJ the Student Actuary South Africa didn't technically combine the 2, at the time SA did their own fellowship subjects the UK also had it as one subject, st3, thereafter the UK split it and SA just didn't follow suite
@MJtheFellowActuary 8 жыл бұрын
+Tyrone Futter I just remember buying both ST7 and ST8 notes! but they constantly updating the topics in the course, so it might have change again.
@klarissagonzalez1220 9 жыл бұрын
So im a senior in high school, and i reeeally love math, and what i was always told is that engineering involves the most math and would be really hands on interesting type stuff, but then i also just heard that actuaries deal with a lot of math too. so im curious as to what kind of math. is it like basic adding subtracting percentage stuff or like deep calculus based? also, what is it like in a typical day of work? cubicles? at home paperwork? one-on-one explanations about risk with designated clients?
@MJtheFellowActuary 9 жыл бұрын
My typical day of work involves problem solving and communicating with clients from around the world. I haven't used pure maths on the job yet. But maths is important as it makes your mind intellectually fit and develops logic. The nice thing about the profession is that your job is what you want it to. There are actuaries who work in cubicles, there are actuaries who travel, there are actuaries who do maths all day and there are actuaries who engage with clients. Each area an actuary can go into requires these various roles. The maths for the statistics is quite difficult but the maths for finance is fun because the actuaries have developed their own notation which is superior to traditional maths formulae.
@khanyangxabani8297 9 жыл бұрын
I honestly love this proffession, i love how broad it can be and the options that it comes with. But i have been really shocked by the amount of people warning me to not shift my interest to it wholeheartedly. Some say its extremely difficult and you wont even last first year. Right now i'm very much confused/ more as in scared off by all the public commentary with regards to actuary. What is your take on Actuary MJ since you have had a taste of it? What kind of skills do you have to have to be formidable with regards to actuarial science?
@MJtheFellowActuary 9 жыл бұрын
Khanya Ngxabani You are right. It is an awesome profession and it requires lots of hard work. If you decided to do it, then you need to give it everything. It will be frustrating and difficult while you study and your friends party but it will be worth it in the end. Give it a go!
@bumpajelly 8 жыл бұрын
I was a Math and Accounting major, but I did drop math because I knew you could still be an actuary dealing with finances. Of course I didn't know it was this many type of actuarial science jobs. What is the best type of actuary for under my field?
@wasifshabbir2432 7 жыл бұрын
MJ please do some lectures on difficult topics of CT1.
@jadefrost4086 8 жыл бұрын
Hi MJ, I hope you could do a video about the "the institute and faculty of actuaries vs. ASSA". Thanks for your videos, I really enjoy watching them.
@MJtheFellowActuary 8 жыл бұрын
that's easy. ASSA is much better ;)
@jadefrost4086 8 жыл бұрын
Thanks for the quick reply.
@meenakshi6452 2 жыл бұрын
where does retirement actuary comes ?do they come under life insurance or is it a separate domain?I'm confused
@arishshahid8955 7 жыл бұрын
Hey MJ great work!!!! wanted to know which type of actaury will be in most demand in future?
@layaa559 9 жыл бұрын
Very Helpful. Thank you!
@meenakshi6452 2 жыл бұрын
is pricing and reserving different actuaries?
@Ayush-gm2do 3 жыл бұрын
How can i read actuarial newspaper or actuarial magazine.
@edwardchida2563 3 жыл бұрын
Bank actuary is basically a quant?
@mfundogladwin3091 6 жыл бұрын
Great work man, thanks for sharing.
@jenagouws4508 8 жыл бұрын
Well Done MJ !!!
@Makaylah13 5 жыл бұрын
Id like to be an actuary but i live in Florida and am going to go to a regular state u..I'm also 26..i am so close to just playing it safe and getting an accounting degree...is going for act sci worth it?
@MJtheFellowActuary 5 жыл бұрын
Yes go for it! It’s hard, but worth it
@elizdiniz 8 жыл бұрын
Hey, I was wondering if it's necessary to study Math in your undergrad to continue on into Actuarial Science. Are there Masters programmes where you don't need Math in your undergrad?
@MJtheFellowActuary 8 жыл бұрын
maths is very important. think of it like this. just like a soccer player needs to be fit to play a game, so an actuary needs to be good at maths to continue with the rest of the course. later subjects don't rely on maths that much but for the technical subjects it is critical.
@ailsa5157 8 жыл бұрын
+MJ the Student Actuary, what kind of actuary works in compensation insurance?
@MJtheFellowActuary 7 жыл бұрын
A General Non-Life Actuary will most likely work in that area :-)
@ailsa5157 7 жыл бұрын
Thanks :)
@salluarsh 6 жыл бұрын
Thanks
@jasneetsingh4018 7 жыл бұрын
difference between programming actuaries and data scientist. An you didnt tell about Predictive model building
@tuhafenitansonelias1858 7 жыл бұрын
hey im a pilot and would i like to know what type of actuaries are best for my aviation career ?
@MJtheFellowActuary 7 жыл бұрын
Tanson Elias well you can check out General Insurer Actuaries who need to understand aviation risks
@tuhafenitansonelias1858 7 жыл бұрын
MJ thanks for your reply ...
@stefanbelkowski6153 7 жыл бұрын
Hei MJ nice videos!! you mention programming actuaries. Do you get many actuaries involved as Quants?
@geraldnjue8380 5 жыл бұрын
I love your work mj
@Thecolleone 6 жыл бұрын
Can I ask you some more info about wellness actuary? Very interesting :)
@siyabongankosi895 8 жыл бұрын
hey MJ i'm currently doing Accounting Science at Wits University in South Africa but i wanna change to mathematics degree because my initial motivation in doing accounting was that i was gonna deal with numbers and math only to find it wasn't what i thought it would be. So looking at looking at the modules for mathematical science and actuarial science there isn't much difference except majors in math and the other in actuarial science. in my heart i wanna go for actuarial but i'm afraid because there's all these talks on how difficult it is and since i'm already changing a degree i can't afford to fail... I guess what i'm asking for here is do you have advice on what can I do??? If there's anyone else with any advice you all welcome to comment
@MJtheFellowActuary 8 жыл бұрын
have a go at becoming an Actuary. it's something you will never regret. don't fear failure.
@albanderyf 7 жыл бұрын
And i will graduate next semester and i do not no what is the skills that i have to learn if you can help me Pl
@gideonlapidus8996 Жыл бұрын
What do you call someone who specialises in mathematical modelling
@chaneldelarosa9786 4 жыл бұрын
Hi @MJ the Fellow Actuary. What is your opinion of the NHI plan SA has and its consequences for medical aid companies(such as Discovery) and in result medical aid actuaries?
@MJtheFellowActuary 4 жыл бұрын
Honestly I don’t know. The health and medical aid side of Actuarial Science always left me confused. And the NHI is mixed with a good dose of politics that makes it even harder to comprehend.
@chaneldelarosa9786 4 жыл бұрын
@@MJtheFellowActuary I agree. One thing is for sure, the government will need the expertise of health and medical actuaries to help with the risk , economic and actuarial viewpoint of things -otherwise there will be a great lack of efficiency in minimizing costs by reducing risk. I think it could make a very interesting debate topic. Thanks for your reply! Loving your channel - from NWU
@xolanisilangwe2795 7 жыл бұрын
is it possible for me to be an Actuary one day if I'm doing BSc(Statistics and Applied Mathematics)?
@ewqdsacxz765 6 жыл бұрын
Absolutely.
@enderrking2239 3 жыл бұрын
Yes
@vuyol1853 7 жыл бұрын
Hey Man thanx for your videos ... im doing my second year of Medicine at Wits Uni.. like im doing well in my studies but i realise that this just might not be for me Biology doesnt do it for me and i get excited with numerical courses ... before i took on to study this degree i was caught inbetween Actuary and Medicine and got in for both and took on Medicine ... like would you recomend the switch after 2 years of not doing any type of maths (except for physics in 1st year last year) or should i stay in this degree? and what are my chances of being allowed to transfer after 2 years of no maths ... my NBT score is also in the high 80s for Maths
@MJtheFellowActuary 7 жыл бұрын
Chat to the Actuarial Professors. You could always specialise as a Health Actuary and your medicine background will be a huge advantage!!
@vuyol1853 7 жыл бұрын
Thanx man I alredy spoke to the department registrar here at Wits ... got positive feedback .. thanx big time
@pujanchitalia3309 4 жыл бұрын
What's the difference between a Finance Actuary and a Certified Financial Analyst?
@MJtheFellowActuary 4 жыл бұрын
Trustees of a pension fund will consult with a Finance Actuary on which Asset Manager to go with. The Asset Manager will likely be a CFA. So similar roles, but different on the investment chain.
@melisamani4299 7 жыл бұрын
Thank you for sharing; I am interested in actuary; do Actuary need to give presentation??? I am not good in speak in public!
@MJtheFellowActuary 7 жыл бұрын
It depends. Some Actuaries are client facing and have to do presentations, others work in the back office and don't need to talk to clients. But most actuaries need to be able to work well in a team and communicate to the various departments within a company
@rakibulislamrafiq3143 7 жыл бұрын
Hei MJ, I'm a regular viewer of your videos. I'm from Bangladesh, I've passed CT1 and CT3 in the last year. Will be sitting for CT4 and CT5 in this month (April 2017). Moreover, I've completed my graduation in Mathematics and Post graduation in Applied Mathematics from the University of Dhaka, Bangladesh. FYI, Actuarial profession is very rare in my country. So I'm planning to move in US to pursue MS in Actuarial Science. Meanwhile I hope to pass more exams. Is it will be possible for me to get involved in actuarial job in the US then? TIA.
@MJtheFellowActuary 7 жыл бұрын
All the best for the exams!! lots and lots of American companies are hiring actuaries. But before you decide on the US, consider South Africa, we have a very strong financial sector and are always in need of strong actuarial talent.
@mysticalmarowak2493 7 жыл бұрын
thank you for the great video but i have to ask were you eating an apple
@ansh086 7 жыл бұрын
Hi. Can u plz guide how can I change my career progression from a banker to actuary at 34 yes of age, Stats being my major during academic.
@MJtheFellowActuary 7 жыл бұрын
+Ankit Sharma it depends on what country you are from. South Africa offers a banking fellowship, no other country does, but the world does offer something called CERA qualification. Check that out
@monyakemokoena2315 3 жыл бұрын
Did you need Physical Science to actuarial science....if so ..why? Because i dont think that physical science in high school is compulsory to study Actuarial science
@tshepangt88 3 жыл бұрын
You don't necessarily need Physical Science to get admission in an Actuarial Science program. UFS, UP, NWU, UJ, Stellenbosch and UCT don't require Physical Science, they only need Maths and English. It's only WITS's Actuarial Science program that requires Physical Science.
@MB-uk4sm 8 жыл бұрын
hi man awesome videos , i really learned alot of info from you :D.....i was wondering about the order of the actuarial exams and how they interact with getting like the associate degree and the fellowship ........just the order of the exams thanks :D
@MJtheFellowActuary 8 жыл бұрын
+Inferno Hail You can do the exams in any order but they recommend you do all the CT's first starting at 1 and ending with 8 and then do all the CA's then do the 2 ST's and end off with the SA
@MB-uk4sm 8 жыл бұрын
MJ the Student Actuary thanks man :)
@mokgosimampane1874 6 жыл бұрын
is it possible to start your own investment bank with this course?
@MJtheFellowActuary 6 жыл бұрын
starting an investment bank has more to do with who you know rather than what you know. At the end of the day its a financial relationship institution and you need connections and a solid network to set up your own investment bank
@kk8490 6 жыл бұрын
"They can calculate when you will die" 0_o
@darklordinateur 8 жыл бұрын
What about Reinsurance Actuaries :-)
@MJtheFellowActuary 8 жыл бұрын
+darklordinateur Good point. They would be an extension of either the Life Actuary or the General Actuary depending if the reinsurance is on Life Insurance or General Insurance.
@darklordinateur 8 жыл бұрын
Indeed, but you should also add some extension of the Financial Actuary dealing with securitization which is very specific to the Reinsurance world. I might also add another type of actuary, the "Reinsurance business" Actuary which would be an hybrid between en actuary and an underwritter since Reinsurance has much more business related topics and a lot of notions going with it. Great work though!
@MJtheFellowActuary 8 жыл бұрын
darklordinateur Yeah securitisation is something I'm very interested in, however havent had any work experience in that area yet.
@darklordinateur 8 жыл бұрын
Indeed, I highly recommand you to focus on CAT bond securitisation. This is in my opinion, the most interesting field for it.
@MJtheFellowActuary 8 жыл бұрын
darklordinateur Yeah I will do some research and maybe make a video on CAT Bonds :-)
@nikitaadivhaho6648 8 жыл бұрын
Hi MJ, I'm doing mathematics, physical sciences, life sciences and geography at high school. Can be able to do actuarial science at university?
@MJtheFellowActuary 8 жыл бұрын
+Nikita Adivhaho Yes of course. Accounting and IT help but they are not essential and you will learn it all at Uni. Aim for high marks in Maths, Science and English.
@nikitaadivhaho6648 8 жыл бұрын
Okay, thanks hey
@Dublinby 8 жыл бұрын
MJ just out of curiosity are you interested in taking the CERA qualification? Many actuarial students who I have spoken to have said good things about it and would recommend it to most actuaries to take with their specializing ST too.
@MJtheFellowActuary 8 жыл бұрын
yes I think it's awesome. I wrote the ST9 exam last month. I really enjoyed the subject matter. maybe I should do a video on what it's about.
@Dublinby 8 жыл бұрын
Nice and good luck with your results and your revision, what exams have you passed so far?
@MJtheFellowActuary 8 жыл бұрын
CT1 to CT8. ST5, CA1, CA3 so far.
@shashankgarg6735 7 жыл бұрын
can I become finance actuary without doing any PG course?
@reginaldchikwenhere2544 8 жыл бұрын
which one is paid more , the bank actuary or the enterprise risk actuary
@MJtheFellowActuary 8 жыл бұрын
+Reginald Chikwenhere The one that does a better job ;-) Salaries depend on experience and how well the actuary can negotiate with their boss.
@aachalmorajkar2001 8 жыл бұрын
hey mj ur video is informative , I want to get into this field can u plz guide me I am 12th pass with 85% in mathematics so can I purse this course
@MJtheFellowActuary 8 жыл бұрын
Try get your mathematics up to 95%. the higher the better. but yes 85% is good
@FemtoBlaster 8 жыл бұрын
+MJ the Student Actuary so I guess 70 means I have no chance 😢
@anthonytesla8382 Жыл бұрын
@@FemtoBlaster yeah no chance. The minimum entry mark for maths is 80%.
@MrClutched 8 жыл бұрын
Mj, May i ask? What is the difference between taking UK courses Actuaries and Other countries (US,Canada) Courses Actuaries?
@MJtheFellowActuary 8 жыл бұрын
they all very similar but differ with fellowship exams and with the additional courses you have to do. each fellowship/course is country specific
@MrClutched 8 жыл бұрын
+MJ the Student Actuary thank for replying. Is this fellowship easily transferable? and maybe from ur experience which 1 would you recommend more?
@MJtheFellowActuary 8 жыл бұрын
MrClutched I would believe so. If you pass the fellowship in South Africa, the actuaries in the UK will see you as an equal. I would recommend doing the South African fellowship if you live here, otherwise the UK or your local country's one.
@nathanaskew2784 7 жыл бұрын
I'm south African and when I'm older I want to become and actuary
@MJtheFellowActuary 7 жыл бұрын
All the best!! Let me know how it goes!!
@abhaymishra3416 4 жыл бұрын
If I take actuary we need to study all types of actuary
@mickdafan 9 жыл бұрын
What can you tell me about the average starting salaries? what about salaries after 10 years or when you pass all the exams? Thanks! if you don't want to answer on here please comment with an email.
@MJtheFellowActuary 9 жыл бұрын
mickdafan Hey there. The average starting salary depends very much on where you live. British and American Actuaries earn more than South African Actuaries to start off. However this is because of the exchange rate and costs of livings. Also actuarial salaries can vary between cities in a country. Actuaries in Johannesburg earn more than actuaries in Cape Town. After 10 years your salary depends on how good you are. If you establish a good reputation and can show that you can add value to a company then your salary will be huge. What city are you from?
@mickdafan 9 жыл бұрын
I currently live near Milwaukee, Wisconsin in the US
@MJtheFellowActuary 9 жыл бұрын
Starting salary can be up to $50 000 annually in the big cities in the US. Starting salary here in South Africa is like half that. Also depends on how well you do at university. Top students will start will a higher salary.
@uncaka 9 жыл бұрын
mickdafan The pay is much more than $50,000 per year. After each exam completed, most employers give a salary increase. With all exams passed, you can expected to make closer to 6 figures with room to grow..
@MJtheFellowActuary 9 жыл бұрын
uncaka Yes you are correct. I was reading yesterday that a Leadership Pension Actuary can earn up to 250 000 British pounds. But to earn that you need work experience and a good reputation of being a genius
@partscircle108 8 жыл бұрын
how do i get in touch with you?
@MJtheFellowActuary 8 жыл бұрын
send me an email bayman1991@gmail.com :)
@WPaKFamily 5 жыл бұрын
Sign me up for Gaming Actuary
@yeahthatsteve 8 жыл бұрын
MJ do you have an email address where I could email you my story and queries in regards to the actuarial science profession?
@B.A.Gondal 7 жыл бұрын
Difficult to study? Mathematics in actuarial studies is quite elementary to be honest....everyone with enough patients can study it.....good informative video though :)
@anthonytesla8382 Жыл бұрын
Ok so are you an actuary yet?
@B.A.Gondal Жыл бұрын
No. I opened my own business and hire actuaries now :)
@anthonytesla8382 Жыл бұрын
@@B.A.Gondal I'm truly impressed
@mohitdhanjani4379 7 жыл бұрын
please tell me your LinkedIn profile... I'll love to follow you on LinkedIn.. thnx
@MJtheFellowActuary 7 жыл бұрын
Haha its Michael Jordan, although its quite a common name!!
@MohitBharati 8 жыл бұрын
Hey MJ! How about actuaries working in Data Science / Data Mining & Big data Analytics what specific skill-set do you think would be valuable
@albanderyf 7 жыл бұрын
Hi MJ May i ask a Q please ?! How someone studies actuarial math in collage Specialized in any one you said , is it depend on training or what ?! Thank you
@MJtheFellowActuary 7 жыл бұрын
A lot of the maths we use is just the standard maths you come across in University, but there is also some specific maths that only actuaries use. This has some actuarial notation and it can be quite tricky to learn without a textbook. Check out a website called ActEd.co.uk they have lots of good specific material :-)
@MohitBharati 8 жыл бұрын
Hey MJ! How about actuaries working in Data Science / Data Mining & Big data Analytics what specific skill-set do you think would be valuable
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