The main career prospects are in the fields of investment, finance, risk management, pensions, and insurance. The main area of job prospects is, however, risk management in business and financial sectors.
The job prospects after doing this course are of the profiles of -
- Actuarial analysts,
- Actuarial consultant,
- Risk analytic,
- Quantitative analyst and
- Business analyst etc.
The job profiles like data analyst and insurance analyst have a scope in both the private as well as the public sectors. There are also jobs like technical analysts which offer the students the opportunities to pursue their career in the technology companies. There are various sectors which hire a consultant, who helps them understand the financial positions of their organization and also predict the risks by analyzing the past financial data.
The work profiles also include policy pricing, product design, and asset-liability management and various others. The demand for actuaries has increased manifold and has helped India reach new heights because it has invited more of international interactions.
Insurance companies hire the actuarial the most because they need to keep a constant check on the financial reports and analysis of the data. The risk advisors are required majorly in the fields of insurance and stock markets. Following are some top recruiters for MBA Actuarial Science graduates-
- ICICI Bank
- HSBC Life
- Bank of India
- Kotak Mahindra
- Reliance Life Insurance
- HDFC Life
- Max Life
- Birla Sun Life
MBA Actuarial Science: Salary Trends
The salary of a data analyst and financial analyst ranges around 3.7 to 5.5 lacs, while the life insurance analyst gets around 4.2 lacs and equity analyst earns about 3.5 lacs.
Debt analyst is a job which helps a person earn about 4.1 lacs. The highest paying job in this field is that of an actuary manager general which pays about 9 to 13.5 lacs per annum.
Following chart shows the salary trend for various job profiles:
Apart from this salary trends also depends on industry one is working for. Generally, insurance companies of banking sector pay really well to analysts and managers.