For over four years, I’ve been working to dispel a persistent myth in the actuarial community: that freshers with more than three exams cannot secure jobs. Despite my efforts, this misconception remains alive, fueled by a powerful yet misguided narrative. Let’s set the record straight.
The Hypothesis: “Freshers with more than three exams can’t get actuarial jobs.”
My Argument: This is incorrect—and I have the evidence to prove it.
Evidence That Shatters the Myth
To test this hypothesis, I searched for recent actuarial job postings for freshers and interns. Here are five examples that directly contradict the idea of an upper limit on exams:
- Milliman Internship (Gurgaon)
Milliman posted requirements for an actuarial internship explicitly demanding a minimum of 3 exams, with a range of 3–5 exams acceptable. This is just for an internship, not even a full-time role.- References:
- HCL Technologies (Chennai)
HCL opened positions for actuarial freshers with no upper cap on the number of exams specified in the job description.- Reference: Naukri Job Listing
- Numerica Consulting (Actuarial Interns)
Numerica invited applications for actuarial interns without mentioning any upper limit on exams.- Reference: Numerica Careers
- Reliance Nippon Life Insurance (Mumbai)
Reliance Nippon sought actuarial interns and made no mention of a maximum or minimum number of exams required.- Reference: Naukri Job Listing
- Munich Re (Actuarial Data Analyst)
Munich Re requires a minimum of 5 exams to even consider an application, directly challenging the idea that having more exams disqualifies freshers.- Reference: Munich Re Job Listing
These examples are just the first five results from a quick search for fresher actuarial jobs. I could go on, but the point is clear: the hypothesis doesn’t hold up. Now, I challenge those who believe in this myth to provide five job postings that explicitly state students with more than three exams cannot apply. I’ve never seen such a restriction from a core insurance company.
Why the Myth Persists
A small number of companies—few enough to count on one hand—prefer candidates with fewer exams. These roles are often less technical, requiring only a basic understanding of pensions or insurance (e.g., clearing CM1 or CS1). Such companies hire candidates with fewer exams because they expect lower salary demands and don’t need highly skilled individuals with 7–8 exams for these positions. If you’ve cleared more exams, you may not qualify for these specific roles, but you become eligible for far better opportunities—positions that value your advanced knowledge and skills.
My Advice for Actuarial Freshers
Instead of worrying about this myth, focus on building a strong foundation for your career. Here’s what I recommend:
- Aim to Complete the Core Principles Series Early: While you’re still in university, target completing the Core Principles exams (e.g., CM1, CM2, CS1, CS2, CB1, CB2). These lay the groundwork for your actuarial knowledge. The Core Practice exams (e.g., CP1, CP2, CP3) are better tackled after gaining some practical experience, as they require a deeper understanding of real-world applications.
- Develop Technical Skills: Actuarial roles increasingly demand proficiency in programming and data analysis. Spend time learning R, VBA, SQL, and Python alongside your exam preparation. These skills will make you a more competitive candidate and prepare you for the technical demands of modern actuarial work.
Take Control of Your Career
The myth that freshers with more than three exams can’t find jobs is baseless. The evidence shows that companies like Milliman, HCL, and Munich Re are actively seeking candidates with a range of exam completions—even requiring a minimum of five in some cases. Clearing more exams doesn’t close doors; it opens better ones. Don’t let misconceptions hold you back. Focus on your exams, build your technical skills, and apply strategically to roles that match your qualifications.
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