Actuarial students often complain about not finding jobs. They say they apply to companies but don’t receive callbacks. Some even claim they’ve been job hunting for over a year with no luck. I’m not saying these struggles aren’t real, but they’re not enough to prove there are no jobs out there.
As a teacher, I meet countless students across India during my travels, and I feel disheartened by the state of the profession today—not because of a lack of opportunities, but because of the attitude of many students who seek my advice on placements. This story largely applies to non-Smonk students. At Smonk, we’ve instilled in our students from day one the importance of skills and habits that are often overlooked in traditional actuarial training.
Students, this article might sting a little, but it’s for your own good. Read it, reflect if it resonates, follow the advice if you believe in it, and share it if you think it could help others.
I’ve used the term “pseudo struggle” in the headline because many of you are putting in the wrong kind of effort, making your claims of struggle misleading. Sending random emails from your bedroom without real effort won’t yield results. I’m not here to belittle your goals but to highlight the mistakes that make your struggle ineffective.
Mistake 1: You’re Lazy!
You don’t read. You don’t stay updated on the profession. I’m certain some of you don’t even know what GCA (Global Capital Standards) is or what IFRS 17 entails. Many of you don’t understand the jobs you’re applying for. You don’t read job descriptions—you just apply. You don’t tailor your resume or cover letter to the company or person you’re reaching out to.
You don’t read newspapers or stay informed about current affairs. How can you expect to work with professionals if you’re unaware of what’s happening in the world? At 22, what have you achieved? “Stories” won’t sustain you—knowledge and a meaningful job will. Many of you have LinkedIn profiles (likely because someone told you it’s the key to getting a job), but you spend hours scrolling, watching random videos, and liking posts instead of using LinkedIn strategically to network and find opportunities.
Mistake 2: You Don’t Learn
Many of you dislike programming. You chose actuarial science for its math and statistics, not coding. It must have been a shock when you realized programming is essential—especially with recent syllabus changes and job requirements. Some coaching centers may not emphasize this upfront, possibly to avoid scaring you off, only to sell you programming courses later. But why didn’t you research this yourself? How did you think you’d apply math in a professional setting? What software would you use? These questions should have crossed your mind when you entered the field. If they didn’t, that’s Mistake 3: a lack of foresight. Now that you know, either learn the necessary languages to stay in the profession or start exploring alternative career paths.
Mistake 3: You Lack Foresight
If you didn’t think about the practical aspects of an actuarial career—like the tools and skills required—when you started, that’s on you. You should have been proactive in understanding the profession’s demands before diving in. Maturity means asking the right questions early on.
Mistake 4: Blaming Others for Your Situation
Don’t blame your coaching center for not informing you about job prospects. They taught you the basics—without them, you wouldn’t even be in a position to discuss these challenges. You committed Mistake 3 by not doing your own research. They did their job; now it’s time to do yours.
Mistake 5: Limiting Yourself to the Insurance Industry
Beyond actuarial coaching, I run seven other businesses unrelated to actuarial science. My success in those ventures stems from the skills I developed through actuarial studies—critical thinking, risk analysis, and a deep understanding of concepts. Simply reading the syllabus books made me smarter and more capable. The actuarial syllabus is inclusive and can make you highly skilled, but only if you study to understand concepts, not just to solve a few problems.
Don’t fixate on insurance companies for jobs. They don’t have infinite capacity to hire freshers, and even if they did, they’d prefer candidates who are well-informed and engaging—someone who reads the news daily, not someone who only talks about alpha, lambda, and gamma. Look for roles where your knowledge can be applied. Start in any position that leverages your skills and energy, build your career now, and stop waiting for insurance companies to create opportunities for you.
Mistake 6: Reading Without Acting
You might read this article, think for two minutes, find flaws in my argument, debate with me, and then go back to complaining about not having a job. Don’t do that. Instead, read, reflect, learn, make decisions, implement changes, and follow through. Action is what will change your situation—not endless debates or excuses.
A Path Forward
I hope 2019 brings you your dream job! I’m here to help 24/7—reach out anytime. Check out the Actuarial Career Festival on our website, www.smonk.in, under the News and Events page, for more opportunities to grow and connect.
This article is my sincere effort to help you reach your destination. Take these lessons to heart, and let’s turn your pseudo struggle into real success.
Thanks for reading.