Do you like mathematics, finance and statistics? Then studying Actuary may be an option for you. In this blog, we will tell you why this Bachelor’s degree is considered a profession with a great future and where you should study to be an Actuary, since choosing a University with an international study program is a great opportunity for your professional life.
University education is the pillar to prepare the professionals of the future. However, we know that choosing a Bachelor’s degree is not easy, there are too many options and more than one may seem interesting to us.
Before starting, remember that here you will only find some recommendations because in the end the most important opinion and the decision to study Actuarial Science is yours alone.
Actuary is one of the most complete bachelor’s degrees
This profession belongs to Economic Sciences, as does the Bachelor of Administration and Finance , but Actuarial Science focuses on analyzing and interpreting mathematical and statistical data to develop predictive models that allow knowing the possible financial behavior and avoiding any type of risk.
The work carried out by actuaries is extremely important for any organization or company, because their work affects very high levels of decision-making. Actuarial services help business managers make choices about increasing profits, managing risk and capital, and reducing operating costs, in order to meet financial challenges in the markets. Hence, this profession is considered a career with a great future.
Typically, the recommendations these professionals share relate to decisions that have a large effect on finance. Skills and competencies when studying Actuarial Science Studying Actuarial Science is the right path for those who are interested in market dynamics around financial matters related to people, companies and government.
Skills that characterize these leaders:
- Analytical capacity: As we have already mentioned, actuaries predict probable risks and possible financial results, so they have a great analytical capacity to make alternatives to possible risks, paying close attention to every detail
- Critical and creative thinking: critical thinking emerges from their ability to analyze these professionals, because by evaluating each probability from a broad perspective, they develop critical thinking that is useful for proposing original alternative solutions
- They communicate their ideas clearly: their strong mathematical skills allow them to explain technical and statistical details orally or in writing to a diverse audience, as Actuaries often lead large teams on a variety of projects.
Professional skills when studying Actuary:
- It uses methodologies for the analysis of applied problems in demography, finance and economics
- Applies calculation techniques for the determination of premiums, reserves and financials in organizations
- Build forecasts and financial models
- It defines rates for the coverage of pure risks, insurance, finance, life annuities, and benefit plans for employees in the public and private sectors.
As you can see, these professionals apply mathematical principles to understand how the financial market works. In addition, they use programs to collect, classify, process and analyze information, since their results must be substantiated, since as we mentioned, their suggestions have a great influence on budget management and the possible profits and losses of any company.
Where can you pursue your career?
An actuary can practice in different types of companies or institutions, some of these are:
- Government: It can be in any of its 3 divisions (federal, state or municipal). Here, you will be able to guide decision-making in the purchases that can be made and in the laws related to expenses and taxes
- Insurers: Your recommendations will be focused on life insurance, accidents, work risks, just to mention a few examples
- Financial Institutions: You will be able to work in Stock Exchanges, Brokerage Houses and Banks
- Independent advisor: Here you can guide anyone who wants to capitalize, set up or terminate a company, as well as the purchase or sale of shares.
By studying actuary, you will be able to know all the movements and forms of behavior of the market, which will tell you when is a good time to start a business, whether it is your own, a client or a partner.
Daily tasks performed by the Actuaries:
- Collect information for statistical analysis
- Document observations made and make recommendations
- Develop and apply mathematical and statistical models
- Develop financial strategies to reduce losses, risks and increase profits
- Establishes insurance policies and benefit or competency plans for employees
- Present the results of the investigations carried out through presentations or written reports.
What is the average salary of an actuary?
This point is going to be very interesting for you, since the economic perceptions of an Actuary are well paid. According to the Mexican Association of Actuaries, a professional in this area with at least 3 years of experience can earn around 20,000 pesos per month.
Labor field
You will not have to worry too much about getting a job in your branch, since it is not a «saturated» career, but it is highly demanded by companies that require these professionals. Now that you know all the advantages that you will have for your professional life if you decide to study Actuarial Science, you are surely wondering, what should I take into account when choosing a University?
For this point it is essential that you consider your interests and needs. The University you choose should provide you with the professional activities that are essential to develop before graduating.
Why study the Bachelor of Actuary at Incarnate Word
The key to building a satisfactory professional life is to study what you are passionate about in an educational institution that offers you enough tools so that you can develop academically and professionally, which is why the Incarnate Word University Mexico City campus may be your ideal option to study Bachelor of Actuary.
Double degree (Mexico & United States)
Access to an international and bilingual educational model translates into academic programs with double degrees. (As part of a North American University).
Mexican Degree in Actuary issued by Incarnate Word, Mexico City campus, recognized by the SEP and a North American Degree in Mathematics, issued by the University of Incarnate Word (UIW), valid in the United States, which will multiply your job opportunities.
Scholarships and Financing
Having a scholarship makes it economically more viable for you to continue preparing yourself academically. In this sense, you can apply for a scholarship from the first semester. Said scholarship is granted to you can be maintained throughout the Bachelor’s Degree as long as you meet the requirements of the Regulations of Scholarships of the Institution.
In addition, our scholarships are combinable with financing so that you can cover the necessary funds, and focus on developing the best skills when studying Actuary.
Teaching Plant
The teachers of Incarnate Word stand out for having Master’s and Doctorate studies. They have worked within their specialty area, and as teachers they seek to train human beings with a deep sense of life. This by promoting intellectual, social, and personal growth, creating a environment that will allow you to contribute as an agent of change in the transformation of social reality.
Bilingual education
As part of your comprehensive training when you study the Bachelor of Actuary at Incarnate Word, you will take some subjects in English. Also, you will master the specific vocabulary to function without any inconvenience as an Actuary in a national and international environment.
In addition, through the Language Center, you can enjoy discounts to study French, German, Mandarin Chinese, Portuguese, and Italian. You can even do it at different times: mornings, evenings and Saturdays. Additionally, you can prepare yourself to obtain international certifications that guarantee your languange skills.
Our native teachers will provide you with the best training so that you can naturally speak, write and listen to the language you are studying.
Job Bank
Having two degrees not only multiplies your knowledge, you also increase your professional opportunities. (As well as granting access to different national and international projects). For this reason, the Incarnate Word Job Board is a means for companies to publish their job offers and find highly trained professionals.
Then, do you have an analytical eye that always sees beyond a possible result? You are methodical, you like to keep up to date and above all, you love mathematics? If that is correct, studying Actuarial Science is for you!
