What is an actuary?
An actuary is a professional who applies mathematics, probability, statistics and finance to measure, value and manage future risks. Actuaries are the specialists in putting a price on uncertainty. They work mainly in insurance, pensions, investments, banking and risk management.
How long is the actuarial science degree in Mexico?
At most universities the Licenciatura en Actuaría (bachelor’s degree in actuarial science) takes 8 to 9 semesters, that is, 4 to 4.5 years. Some institutions, such as BUAP and UANL, structure it over 4.5 years.
Where can you study actuarial science?
More than twenty universities offer it, among them UNAM, ITAM, Anáhuac, IBERO, UDLAP, UANL, BUAP, UAEMéx, UADY and the Universidad Autónoma de Guadalajara. UNAM was the first in Latin America, with its program approved in 1947. See the full directory of universities.
How much does an actuary earn in Mexico?
Actuarial science consistently ranks among the best paid professions in Mexico. Pay depends on the field, experience and credentials; profiles specialized in pensions, risk management and data science tend to reach the highest incomes.
Is the actuarial degree hard?
It is a mathematically demanding program, with a solid foundation in calculus, probability and statistics. In return, it offers one of the highest rates of employment and economic return in the country. Students who enjoy mathematics and problem solving usually adapt very well.
In which fields can an actuary work?
Life, health and property and casualty insurance; pensions and Afores (retirement fund managers); investments and finance; reinsurance; banking and credit; enterprise risk management (ERM); government and regulation; consulting; and, increasingly, data science. See the details in Practice areas.
What is the difference between AMA, AMAC and CONAC?
The AMA (Asociación Mexicana de Actuarios, 1962) mainly brings together actuaries from the insurance sector; AMAC brings together consulting actuaries; and CONAC (Colegio Nacional de Actuarios, founded in 1966 and given that name in 1982) is the professional college that certifies the profession. In 1999 the three signed a mutual recognition agreement.
What does it take to become a certified actuary?
Completing the bachelor’s degree, obtaining the professional title and, for professional certification, passing the exam and meeting CONAC’s requirements, as well as keeping up with continuing education. More information at CONAC.
How long has actuarial science existed in Mexico?
Its roots lie in nineteenth century insurance, but formal university training began when UNAM approved the first curriculum on February 13, 1947, the first Licenciatura en Actuaría in Latin America. Read the full history.
Have another question? See the sources and bibliography or the page on the degree.