Actuaries are professionals who pursue actuarial science or statistics and combine professional courses such as CFA or actuarial science professional certification to become qualified actuaries. In Dubai/UAE,the number of actuaries is less than 200 but these people earn modest salaries.
There are several levels of actuaries, you can became a junior actuary after completing your undergraduate course, then become a fellow after completing at least 7 actuarial papers and finally a fully qualified actuary after you complete all your actuarial papers. In this country (Dubai),if you possess all actuarial papers, which are administered at UK/USA,you are likely to earn at least AED 40,000 per month. At various levels of the profession, these are the expected salaries
|Actuarial Profession||Salary (AED)|
The highest paid actuary in UAE earns AED 80,000 per month while the lowest earn AED 10,000 per month. These individuals work for stock brokers, insurance companies, stock market, investment companies, oil industry and in the government-they are responsible for developing risk models for insurance companies, pension models and insurance policies.
The average time taken for a person to be a fully qualified actuary in Dubai is 7 years, which means after completing your undergraduate studies, you are required to pursue professional certificate for at least 3 years. The professional papers are tough but when you are through with studies, you will automatically get employed.