Actuaries has been projected as the dream profession by coaching centres and media .
Clear 5-6 papers and the world will be waiting for you.
Clear 15 papers and you will get 1 crore salary
Moneycontrol carried an article that there are only 375 actuaries in India
They work in Insurance Companies, KPOs etc.
Is that true
Lets discuss
a) 5 papers cleared
CTC is 5.2 lacs p.a. at Mercer
b) BSc Economics+ 8 papers
CTC is 5 lacs p.a.
c) 10 years - Bsc 2007+ CFA Level 2+ Actuaries 4 papers -
CTC is 30.5 lacs p.a. @ Prudential
d) BSc + no papers of Actuaries
CTC is 40 lacs as AVP-Product Pricing @ HDFC
e) MBA in the year 2005 + 7 papers =
CTC is 31.6 lacs @ Future Gnerali
f) MSc in the year 2007+ 13 papers
CTC is 40 lacs @ AIG Bangalore
g) All CT Series Papers Cleared except 2
CTC is 28 lacs @ Metlife
h) All Papers cleared except 1
CTC is ~17 lacs in Mumbai @ ICICI Prudential
All these salaries are in high cost cities like Mumbai, Bangalore, Gurgaon
A lot of Survivorship Bias is at play
You probably are in love with probability - but probability of your landing a red carpet job is remote
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