December 3, 2024

How to Become an Actuary With No Experience

You’re staring at a career path that feels overwhelming and wondering, “How do I become an actuary with no experience?” The truth? It’s not easy, but it’s absolutely doable. Actuaries are in high demand, and with the right steps, you can break into this field—even if your resume looks a little thin right now.

This guide is for anyone looking to make the leap into actuarial science from scratch. Let’s simplify the process, break it into actionable steps, and get you started.

What Is an Actuary, and Why Should You Care?

Actuaries are risk experts. They use math, statistics, and problem-solving skills to help businesses predict and prepare for the future. It’s a career that’s well-paid, highly respected, and full of opportunities. But breaking in can feel intimidating, especially if you don’t have any experience.

The good news? Every actuary starts at zero. Here’s how you can get started.

1. Get the Right Education

While some actuaries make it without a math-heavy degree, having a foundation in subjects like math, statistics, or finance gives you a head start. If you don’t have a related degree, consider:

  • Taking online courses in statistics, calculus, or financial mathematics.
  • Earning certifications in relevant skills like Excel, R, or Python.

The goal is to show employers you’re serious and capable of learning the technical stuff.

2. Pass Your First Actuarial Exam

No experience? No problem. Passing your first actuarial exam is your ticket into the field. Start with the entry level exams - many employers expect you to have some exam passes before they'll hire you. Here’s why:

  • It proves your commitment: Employers love candidates who’ve already passed an exam.
  • It sets you apart: Even one exam on your resume shows you’re serious.

Pro Tip: Use online resources like Coaching Actuaries or Actuarial Outpost for study tips.

3. Build Relevant Skills

Actuaries don’t just crunch numbers—they also use tools and software to analyze data. Learn these skills to give yourself an edge:

  • Excel: Master formulas, pivot tables, and data analysis.
  • Programming: Start with Python or R for data manipulation.
  • Communication: Practice explaining complex ideas in simple terms.

These skills don’t just look good on your resume—they’ll actually help you once you land a job.

4. Gain Experience (Even If It’s Unpaid)

You might be thinking, “But this is about how to become an actuary with no experience!” True—but that doesn’t mean you can’t get creative:

  • Internships: Many companies hire actuarial interns even if you haven’t passed exams.
  • Freelance projects: Offer to analyze data for a small business or nonprofit.
  • Actuarial assistant roles: These entry-level positions let you work alongside actuaries while learning on the job.

Pro Tip: Check out Acturhire for internships and entry-level roles designed for aspiring actuaries.

5. Network Like It’s Your Job

The hidden job market is real—many opportunities aren’t posted online. Start connecting with people in the field:

  • LinkedIn: Reach out to actuaries and ask for advice.
  • Professional groups: Join actuarial societies and attend events.
  • Mentorship: Find someone who’s already walked the path you’re on.

Don’t overthink it. Networking isn’t about asking for a job; it’s about building relationships.

6. Tailor Your Resume and Cover Letter

When you’re starting with no experience, your application needs to shine. Here’s how:

  • Highlight exams passed: Put this right at the top of your resume.
  • Show transferable skills: Problem-solving, analytical thinking, and attention to detail are huge in actuarial roles.
  • Customize your cover letter: Explain why you’re passionate about becoming an actuary and what you’ve done to prepare.

Pro Tip: Acturhire offers resume analysis tools to help you stand out.

FAQs

Can I become an actuary without a math degree?

Yes! While a math-heavy degree helps, you can build the skills through online courses, certifications, and self-study.

How long does it take to become an actuary?

It depends. Passing the first few exams and gaining experience can take 1–3 years. Becoming fully credentialed (FSA/FCAS) often takes 7–10 years, but you’ll earn while you learn.

What’s the fastest way to get started?

Pass your first exam, learn the basics of Excel and Python, and start applying for internships or entry-level roles.

Final Thoughts: How to Become an Actuary With No Experience

Breaking into the actuarial field with no experience might feel like climbing a mountain, but every step you take gets you closer. Start by passing your first exam, building relevant skills, and gaining any experience you can.

Remember: Every actuary was once where you are. The path is clear, and the opportunities are waiting.

If you’re ready to take the first step, check out Acturhire—your go-to platform for actuarial jobs, internships, and career resources.