December 4, 2024

Can You Become an Actuary Without a Math Background?

Let’s cut to the chase: Yes, you can become an actuary without a math background. But there’s a catch—you’ll need to play some serious catch-up. If the idea of math-heavy exams or crunching probabilities intimidates you, don’t worry. This guide will break down what’s possible, what’s required, and how to navigate the actuarial world when math wasn’t your first love.

Why a Non-Math Background Isn’t a Dealbreaker

Actuarial work involves more than just numbers. It’s about solving problems, analyzing risks, and understanding patterns. While math is central, soft skills like communication, business acumen, and analytical thinking can give you an edge. Employers value actuaries who can explain complex ideas in simple terms, and that’s where non-math majors often shine.

And here’s the thing: many (if not most) actuaries don’t have a math degree. While being numerate is essential, your degree doesn’t have to scream "math geek." Majors like economics, finance, engineering, and even liberal arts can lead to a successful actuarial career. What matters most is your ability to build quantitative skills along the way.

I used to work with a someone who moved from teaching into actuarial work mid-career. He was one of the most effective actuaries I've worked with because of his amazing ability to explain complex topics and take people along on the journey.

What You’ll Need to Learn

Here’s the deal: math is non-negotiable for actuarial exams. But you don’t need to be a math genius. You just need a plan:

  1. Master the Basics
    Brush up on foundational topics like calculus, probability, and statistics. Free resources like Khan Academy or Coursera can help you learn without breaking the bank.
  2. Get Comfortable with Excel and Programming
    Tools like Microsoft Excel, R, and Python are used daily by actuaries. Start small—Google Sheets can even be your first step!
  3. Understand Financial Concepts
    If you’re from a non-math background, dig into topics like interest theory, annuities, and basic finance. These pop up in actuarial exams and day-to-day work.
  4. Take Actuarial Prep Courses
    Self-study is great, but structured courses like Coaching Actuaries or Actex help you stay on track.

Transitioning Into the Field

If you’re serious about becoming an actuary without a math background, here’s how to make it happen:

  • Start with Entry-Level Jobs: Positions like actuarial assistant or analyst often don’t require a math-heavy degree if you’ve passed a couple of exams.
  • Network Like Crazy: Join LinkedIn groups, attend webinars, and connect with actuaries who made similar career changes.
  • Pass Exams Early: Even one or two exams can make your resume stand out.
  • Leverage Your Non-Math Skills: If you’re great at communication or business strategy, highlight these in interviews.

Why Being Numerate Matters (Even Without a Math Degree)

You don’t need to major in math, but you do need to be numerate—comfortable with numbers, formulas, and logical problem-solving. This skill is at the heart of actuarial work. The good news is that you can build these skills over time. Many actuaries start with a limited math foundation and grow into their roles through consistent learning and practice.

Real Talk: The Challenges

Is it going to be easy? Nope. But it’s doable. Many successful actuaries didn’t start as math majors. It’s all about grit and consistent effort.

FAQs

1. Can I skip the math entirely?

Nope, but you can start from scratch and build your skills over time. It’s about progress, not perfection.

2. How many exams do I need to pass to get hired?

Most entry-level roles require passing at least 1-2 actuarial exams. Start with the Probability (P) or Financial Mathematics (FM) exam.

3. Do employers care about my degree if I pass exams?

Less so. Exams and internships carry more weight than the specific field of your degree.

4. How long will it take to transition?

It depends. With focused effort, you could be exam-ready and hireable in 1-2 years.

Ready to Make the Leap?

If you’re committed to becoming an actuary—even without a math background—there’s no better time to start than now. Acturhire is packed with opportunities to help you land your first role and grow in the field.