“How do I become an Actuary in Dubai/UAE”,This is a common question among students who want to earn more as they pursue this challenging career.
The first step is to pursue a degree in Actuarial Science from Dubai, UK,Canada,USA,Australia or any other recognized university. Upon graduation, of course with at least a second class lower and above, enroll for Actuarial professional courses.
To qualify as an actuary you need to apply to become a student member of the Institute and Faculty of Actuaries (IFoA). You then need to pass exams provided by the Institute and Faculty of Actuaries (IFoA), or obtain exemptions from them and gain a satisfactory level of work-based skills
It’s essential that you have excellent mathematical skills
Most actuaries start their training after they graduate by joining an actuarial firm as a trainee. Being in an actuarial job will develop your skills which will help you with your exams.
Employers favour candidates with degrees in a numerate subject such as mathematics, statistics, economics, engineering, chemistry, physics or actuarial science. We have compiled a list of mathematical subjects which you should have an understanding of in order to qualify as an actuary. (You will study these subjects in your degree, and/or whilst working as an actuarial student.)
The minimum requirements for admission as a student member of the IFoA are:
|Qualification||Key subject||Minimum grade||Other|
|A-Levels (England)||Mathematics||B||Plus a second A-level in any subject at grade C|
|Scottish National Qualifications Authority Higher||Mathematics||A||Plus two further passes in any subjects at grade C|
|Irish Leaving Certificate||Mathematics||A||Plus four further passes in any subjects at grade C|
|Certified Actuarial Analyst (CAA)||CAA is a technical qualification offered by CAA Global||NA||You must complete Module 0 before you complete any of the other modules|
|IFoA||Financial Mathematics (CT1)||Pass||You can take CT1 as a non-member|
Other international qualifications must be equivalent to the above.
- If you have a second class honours degree or above in a non-mathematical subject, the mathematics A-level requirement is reduced to a grade C.
- If you have a third class honours degree or above in a mathematical or actuarial science degree, the mathematics A-level requirement is dropped.
Apply to become a student member of the IFoA
Download the Application form for Student membership
After you have completed all the papers from IFoA,you will become a fellow.This title will open gates for top paying jobs in Dubai,which come in droves.
Actuaries are among the highest paid professionals in Dubai with a salary of above AED 12,000 per month.