How to Combine Actuarial Studies and Actuarial Work
Combining actuarial studies with actuarial work can be difficult. Following these easy tips, you might be able to improve your exam results, work, and lifestyle.
Many might think that the most difficult part of being an actuarial student is to get a job at a good and well-paying actuarial firm. However, after the excitement of starting a new job has died down, most actuarial students will soon discover that balancing actuarial studies, exams, and actuarial work and actually having a normal life is very challenging.
The nature of most actuarial positions involves deadlines that have to be met, but deadlines for studying towards the exams will also have to be achieved. Unless all exams are passed, there is no way for the actuarial student to actually qualify and become an actuary. Experts from a reliable essay writing service have confirmed that the drop-out rate is high and many actuarial students give up on the exams and settle to work as actuarial assistants or as something else within the industry. Studying for the exams and learning the job is very important, but learning how to manage the time and how to find a good balance between studies and work is equally important.
How to Manage the Actuarial Studies
Actuarial exams are taken twice a year, usually around April and September. Most actuaries qualify in 5 years, but there are great variations to this number. A usual combination of exams is to sit at least three exams in April and two in September.
To work full-time as an actuarial student and study for the exams requires a lot of determination and self-discipline. The importance is to always be one step ahead of schedule in case something comes up at work that needs to be attended to immediately. If you have an urgent assignment in college, a last minute essay writing service is a great help in such circumstances.
All students will have to study for a few hours a day and it is a good idea to plan this work in detail.
If you start work at 10 am, it is possible to study for at least three hours every morning if the commute to work is not too long. Instead of deciding to “Study Chapter 13 on Thursday morning,” make sure you actually learn Chapter 13, as there might not be a lot of time to go back and revise it.
If you are catching the train or bus to work, bring the morning’s study notes with you and revise on the way to work. In order to be well prepared for the exams, make sure that all revision is done a few weeks before the exams so that you have time to go through past exam papers and focus on areas you are not confident in.
How to Manage the Actuarial Work
Unless you are very tired in the mornings, it is best to focus on your studies then and go to work afterward. This will enable you to stay at work in case there are deadlines to be met that day. If you decide to study in the afternoons, you might need help writing an essay. Additionally, you may have to leave the work half done or skip the actuarial studies that day. If you leave the work half done, your manager will probably not be that impressed.
Ask your manager if you can get a day off every two weeks. Some companies will give you paid study leave, but if this is not the case you could make up the time yourself. You would need to work less than one hour extra every day to be able to take one day off every two weeks. During this day, it is important that you go over your studies, revise and perhaps arrange to study with some other students so that you can help each other out.
How to Manage Life Outside of Work and Studies
There is no getting away from the fact that actuarial students are very busy people. However, if you plan your work and studies well, there is no reason that you will not be able to go and enjoy yourself every now and then. Try to plan “Time Off” into your study schedule as it is important to get some time to yourself. The rewards of being a qualified actuary are great, so the faster you pass your exams, the faster the rewards will come.