Actuary Salaries In Namibia

Actuary Salaries In Namibia

A person working as an Actuary in Namibia typically earns around 24,400 NAD per month. Salaries range from 13,200 NAD (lowest) to 36,900 NAD (highest). This is the average monthly salary including housing, transport, and other benefits. Actuary salaries vary drastically based on experience, skills, gender, or location.

Frequently Ask Questions

How do I become an actuary in Namibia?

To become a qualified actuary, one would have to register with an actuarial body and complete a series of professional exams (ranging about 13 to 15 subjects depending on which body you register with) set by the actuarial body. The standard requirement is to have a good pass mark in High School mathematics.

Can actuaries become millionaires in Namibia?

Yes. If you are a partner in an actuarial firm, you can make a lot of money.

Is actuary well paid in Namibia?

The short answer to this question is yes, actuaries are paid very well. The long answer is that the starting salary for trainee actuaries is higher than in Namibia average salary and this increases as you become qualified and work your way up the career ladder.

Is actuary a stressful job in Namibia?

When you learn about a career as an actuary, it’s common to hear all the great benefits of it. It pays well, it’s low stress, and its a mentally stimulating and a challenging career.

Why are actuaries respected in Namibia?

Respected usually because of actuary’s ability to cut through complex issues. Not respected in some cases usually because of actuary’s inability to communicate clearly.

Are Actuaries smart in Namibia?

Actuaries are seriously smart. Actuaries go through rigorous undergraduate training and while they can be employed immediately, they must undergo an additional 5 to 10 years of training and complete 7-9 exams to achieve full actuarial status, called fellowship.

Are actuary exams hard in Namibia?

But unlike doctors or lawyers, actuaries need to, in order to become fully credentialed, pass a series of difficult tests called Actuarial Exams. These are very hard. Very very hard. The preliminary exams are 3 hours long, consisting of 30-35 multiple choice problems, and the pass rate is typically only 30-40%.

Is actuarial a dying career in Namibia?

Depending on your knowledge of computer software, you may be happier with that career than actuarial work. It is very difficult to pass the actuarial exams, and there is a lot of competition. No its not dead end. As others have pointed out, the jobless rate for credentialed actuaries is quite low.

Why are actuary exams so expensive in Namibia?

Exam development costs, staffing costs for SOA education staff, costs to use a 3rd party exam administrator, postage, paper costs, etc. I don’t think they’re that expensive. There’s a lot more people taking those exams and those are multiple choice, where every answer doesn’t have to be graded individually.

Do actuaries work long hours in Namibia?

Actuaries tend to have desk jobs and work within a professional office environment. They often work at least 40 hours a week. Consulting actuaries and actuaries who work in the investment banking field may experience a more unpredictable schedule and be expected to work more than 40 hours per week.

Do actuaries get bonuses in Namibia?

Bonus has been around 20-25% for the last couple of years. Depending on a combination of company and personal performance we’re able to earn up to 20%.

Do actuaries have a social life in Namibia?

Surprisingly, we found little mention of the long hours spent outside of work studying for the exams and the lack of a social life this hard study encourages. Actuaries seem to enjoy the constant education the profession requires, regardless of the personal cost.

Are Actuaries good at math in Namibia?

Math and Numeracy Skills. Actuaries deal with numbers, so being able to do basic arithmetic quickly and correctly is a definite requirement.

Do actuaries use a lot of math in Namibia?

Actuaries primarily use probability, statistics, and financial mathematics. Actuarial exams, which are required to be passed in order to become a certified actuary, require more advanced math though. An excellent understanding of calculus, algebra and advanced statistics is required to pass them.

Why are actuary exams so hard in Namibia?

The real challenge begins with the actuarial exams. These exams are difficult because it requires an in-depth understanding of the various concepts and materials at hand. They are definitely more difficult than your typical math exams in school.