Questions for actuaries (or aspiring ones): relevant 'software skills'

  • Thread starter Thread starter semidevil
  • Start date Start date
  • Tags Tags
    Skills
Click For Summary
SUMMARY

The discussion focuses on essential software skills for aspiring actuaries, emphasizing the importance of proficiency in tools such as SAS, Excel (including VBA), and Access. Key Excel functions to master include VLOOKUP, HLOOKUP, INDEX, MATCH, SUMIF, SUMPRODUCT, AVERAGE, COUNT, and COUNTA. Additionally, familiarity with SQL is crucial, as understanding database syntax is vital for effective data manipulation. Networking and early job applications are strongly recommended to enhance career prospects in the actuarial field.

PREREQUISITES
  • Proficiency in Excel, including advanced functions and VBA
  • Basic understanding of SQL syntax and database concepts
  • Familiarity with SAS software for statistical analysis
  • Knowledge of Microsoft Access for database management
NEXT STEPS
  • Learn advanced Excel functions and VBA for actuarial applications
  • Study SQL basics and practice writing queries
  • Explore SAS for data analysis and statistical modeling
  • Research networking strategies within the actuarial profession
USEFUL FOR

This discussion is beneficial for aspiring actuaries, recent graduates in mathematics or statistics, and professionals transitioning into the actuarial field seeking to enhance their software skills and job readiness.

semidevil
Messages
156
Reaction score
2
So I'm trying to career change over to the actuarial field and I'm trying to prepare myself as best as I can to get that entry level job.

I know about the exams and am already working on that. If all goes well, I hope to pass my first exam in January. As I know the actuarial profession is not easy to get into and quite a few companies require 2+ exams, I want to at least try applying anyways because 1) I'll be looking for a job anyways, 2) I'm hoping with my previous background in Insurance, and small networking circle, that will help me, and 3)I'm completely mobile within the U.S and there are some companies which require '1 or 2' exams.

My question is regarding the software and functions that actuaries use daily. I've done some research on my own and it looks like a lot of actuaries use SAS, Excel (and VBA), and some Access. However, I'm interested in specifically which functions and commands are the most relevant to learn. That way, if I want to improve my excel skills, I want to center my learning around these set of tasks and commands.

I know I can pick up an excel book and learn excel, but for a specific job and for my CV, if I write down "proficient in Excel,' I want to be able to elaborate on it and what I can do with it.

The only thing I can find online right now is "Actuwaiters" which claims to teach these software with actuarial profession in mind. I'm still deciding whether the cost is worth it, but I want to get some insight from actuarial members here about their job.
 
Physics news on Phys.org
Excel functions you should be comfortable with include: VLOOKUP, HLOOKUP, INDEX, MATCH, SUMIF, SUMPRODUCT, AVERAGE, COUNT, COUNTA, among others.

Add SQL to your list of languages to be familiar with. 10% of SQL is understanding the syntax and 90% is understanding the database you're working with, so just try to get the basics down and then you'll learn the rest on the job.

I strongly agree with starting your job search now. Make some friends in companies if you can. Get to know a few people. Apply to hundreds of jobs. Your geographic mobility will help a great deal.
 

Similar threads

Replies
1
Views
2K
  • · Replies 7 ·
Replies
7
Views
8K
  • · Replies 17 ·
Replies
17
Views
4K
  • · Replies 6 ·
Replies
6
Views
7K
  • · Replies 9 ·
Replies
9
Views
3K
  • · Replies 9 ·
Replies
9
Views
2K
Replies
9
Views
13K
  • · Replies 10 ·
Replies
10
Views
2K
  • · Replies 7 ·
Replies
7
Views
26K
  • · Replies 2 ·
Replies
2
Views
3K