Maths and Stats are Actuary Interesting!

April 16, 20224 Minutes Read

Link Copied!

Actuarial Science uses Maths and Stats to solve big problems. Let's see what else it requires...

Remember those long boring maths and stats problems in school? While solving them, we always wondered why I needed to solve such problems. Where will I need to use them in the future? Well, the answer to your question is Actuarial Science.

Interested in Maths and Stats but unable to decide your career path? TheFree Interest-based Career Test should help with your career planning.

Let’s see what Actuarial Science is and how is it related to maths and stats…

Actuarial Science is...
· Using mathematical and statistical methods

· to calculate risk

· in companies like insurance, finance etc. Actuaries are the experts who specialise in this field.
Actuaries are in great demand today, and it is a highly-paid upcoming field. But, it is not an easy path. You need to study, work hard and pass some exams to become one.

You can do a quick free online course on Introduction to Actuarial Science to understand the topic better.

Let’s see some important criteria to become an actuary:

· Age: 18 years or more

· Schooling: 12th std. or HSC pass

· College: Graduate or Post Graduate in subjects like Mathematics, Statistics, Economics, Computer Science, Engineering, MBA (in Finance) or similar

· Should clear ACET (Actuarial Common Entrance Test)

· Should become a student member of IAI (Institute of Actuaries of India) -- IAI controls the education and training of actuaries in India

· Should pass all 15 actuarial papers and have 3 years work experience

· Should be a qualified member of specialised bodies such as:

The Institute of Chartered Accountants of India (ICAI)
The Institute of Cost and Works Accountants of India (ICWAI)
Certified Institute of Financial Analysts of India (IFAI)
Fellow of Insurance Institute of India (III)

· Should be an expert inmathematics & statistics

Since Maths and Stats form the base of Actuarial Science, you can do free online courses on Maths Essentials and Statistics to understand the basic concepts.

· Please note:

students who have any other specialised degree (Engineering/CA/CS/MCA/MBA) can also become an actuary

you can't practice as an actuary only by doing a UG or PG in Actuarial Science or any other subject; it is compulsory to give all the actuarial exams and have work experience
it is a self-study subject, you can study on your own and give the exams

Did I just read work experience? Yes. Check out exciting job and internship opportunities here.

Many colleges in India provide different UG and PG courses in Actuarial Science.

The UG & PG Courses offered are:

Undergraduate Courses:

B.Sc in Actuarial Science
BA (Hons.) in Insurance & Banking
Bachelor of Science (B.Sc) in Actuarial and Financial Mathematics

Post-graduate Courses:
Post Graduate Diploma in Actuarial Science
M.Sc in Actuarial Science
Master's program in Insurance Business
MBA in Actuarial science
Master of Science (M.Sc) in Statistics (Actuarial)

Skills required:

· Logical and problem-solving skills

· Strong base in subjects like maths, stats, probability and calculus

· Understanding of different types of maths and stats software, especially Microsoft Office

· Good sense of business and market understanding

· Good communication and leadership skills

While preparing for such an intensive career, like Actuarial Science, we always forget to pay attention to our Communication skills.

Actuaries work in sectors like:

· Life Insurance

· General Insurance

· Health Insurance

· Reinsurance Companies

· Pension Funds

· Consultants

· Investments

· Government

· Academics

· Risk Management

· Financial Services

· Banking sector

· Stock exchanges

Salary expected:

Once you are a fully qualified Actuary, the sky is the limit for your income! It is one of the highest-paid careers today.

Given below are some sample salary ranges depending on your years of experience and expertise:

Fresher - Approx. INR 3 - 5 Lakhs per year
5 to 6 years experience - Approx. INR 10 - 15 Lakhs per year
After becoming a fellow of IAI - Approx. INR 20 - 30 Lakhs per year

Read more career guidance articles on Glow and Lovely Careers if you need more career options.

Get Inspired with

Blog and News

View All

April 18, 20256 Minutes Read

Top Digital Skills Young Women in India Must Learn for a Bright Future in 2025

The world is rapidly becoming more digital, and technology is shaping our future. Every industry today depends on digital skills , and those who learn the right skills will have the best career opportunities in 2025.

For young women and girls in India, this is the perfect time to explore the tech job market and gain future-proof skills . Many companies are looking for talented women to join their workforce. Whether you want a high-paying job, to work with global companies, or even to start your own business, learning the right IT skills for career growth will help you succeed.

The best part? You can learn many of these skills through free online computer courses with certificates and gain practical experience by working on real-world projects.

In this article, we will explore the most important tech skills to learn in 2025, why they matter, and how they can help you build a successful future.

April 18, 20256 Minutes Read

India’s Job Market: Your Gateway to Success in 2025

India's job market is evolving rapidly, offering numerous career opportunities across industries such as IT, healthcare, finance, marketing, and education. However, finding the right job can be challenging, especially for young women and girls entering the workforce. The job search process requires the right strategies, platforms, and persistence to navigate the competitive landscape successfully.

In the digital age, job seekers no longer have to rely on traditional methods like newspaper ads or word-of-mouth referrals. The rise of technology has introduced many job finder websites that connect candidates with potential employers efficiently. With the right job search website , you can find opportunities tailored to your skills, experience, and career goals.

This article provides a comprehensive guide to India's best job websites , offering insights into the top 10 job portals in India, actionable job search tips, and advice on choosing the right platform. Additionally, we'll address common concerns and FAQs to help you succeed in your job hunt.

February 19, 20242 Minutes Read

Social Entrepreneurship: Women Driving Impactful Change in India

A powerful force is reshaping communities and driving positive change -- women-led social entrepreneurship . As the narrative of entrepreneurship evolves, so does the role of women who are not just creating businesses but building ventures with a profound impact on society. Let's explore the realm of women's entrepreneurship and the significant strides in social entrepreneurship .

Social entrepreneurship is about harnessing the power of business to address social and environmental challenges. In India, many women embrace this approach, positioning themselves as business leaders and catalysts for positive change. Their ventures aim not just for profit but also for meaningful impact on the communities they serve.

The landscape of women entrepreneurship in India is growing, with female entrepreneurs actively participating in diverse sectors, including social entrepreneurship. This shift is breaking stereotypes and showcasing the multifaceted roles women can play as business leaders with a mission beyond just financial gains.

One compelling aspect of this transformation is the variety of startup ideas for women in social entrepreneurship. From ventures addressing healthcare disparities to those focused on education, women are bringing innovative solutions to the forefront. These ventures are not just about economic empowerment but about creating sustainable change in the fabric of society.

Social entrepreneurship ideas are often born from a deep understanding of local challenges. As the architects of many of these initiatives, women bring a unique perspective to problem-solving. Whether providing access to clean water, improving healthcare facilities, or promoting sustainable agriculture, these entrepreneurs are at the forefront of impactful change.

The intersection of entrepreneur ideas for women and social entrepreneurship creates a space where purpose-driven businesses thrive. Women are not just looking for financial success; they seek ways to contribute meaningfully to society. The spirit of collaboration and community building is embedded in their ventures, fostering a sense of shared responsibility and collective well-being.

One notable example is Preeti Singh, a social entrepreneur who founded a venture focused on menstrual hygiene in rural India. Her initiative addresses a critical health issue and empowers women by providing them with sustainable and affordable solutions. Preeti's story represents the transformative potential of women's entrepreneurship in tackling societal challenges.

The emphasis on social entrepreneurship among women is also generating a ripple effect regarding mentorship and support networks. Established female entrepreneurs are actively encouraging and guiding the next generation. This mentorship is crucial in nurturing a culture of innovation and resilience among women venturing into social entrepreneurship.

The momentum of women entrepreneurship in social impact ventures is not just a trend; it signifies a paradigm shift in how businesses operate in India. Organisations and institutions recognise women's value in terms of empathy, collaboration, and a deep understanding of community needs.

The rise of social entrepreneurship driven by women in India is a testament to the transformative power of purpose-driven businesses. As more women explore and invest in entrepreneurial ideas for women that focus on social impact, the future promises a more equitable and sustainable society. These women entrepreneurs are not just building businesses but driving impactful change and leaving an indelible mark on the nation's socio-economic fabric.

At Glow & Lovely Careers (formerly known as Fair & Lovely Career Foundation), we believe in empowering women to be independent. We provide online career guidance, existing jobs and other online courses to help them nurture their dream of driving social entrepreneurship in India.

View All