A big question for career changers is how to get relevant experience to break into the actuarial field. Career Changers often did not participate in an actuarial internship while in college. I do know a lot of Actuaries who did not start out as an Actuary out of college (they are great by the way!). I can think of two strategies for you.
First, big data is the way of the future. Companies all over the world are trying to use big data to help make business decisions. From this big data, they are building models to analyze risk and opportunities. This is right up our “wheel house.” One strategy could be to work in one of these jobs and gain that experience. Those kind of skills are relevant to our work.
Second, many break into the field using the “Get my foot in the door” approach. This means trying to get a job within that insurance company but not as an Actuary from the get go. Then if you continue to pass actuarial exams, you can start applying for a transfer to the Actuarial department. Not only will you bring experience into the Actuarial department, but you are also building your business acumen and seniority within the company.
You’ll need some strong technical skills to break into the actuarial field, sign up for the All-Around Course to become a strong candidate. This discussion for Career Changers is expanded in the All-Around course as well.