A Pilot Survey of Actuarial Graduates’ Views on Their Education

13 Pages Posted: 11 Nov 2015

See all articles by Adam Butt

Adam Butt

Australian National University - Research School of Finance, Actuarial Studies & Statistics

John R. Evans

Centre for Analysis of Complex Financial Systems

Jim Farmer

Macquarie University, Macquarie Business School

David Pitt

University of Melbourne - Department of Economics

Date Written: March 26, 2014

Abstract

This paper presents the results of a pilot survey of recent graduates of some Australian university actuarial programs. The survey aimed to shed light on graduates’ views relating to their education since leaving university. The survey that we report on here has been designed as a pilot to inform the development of a more substantial survey to be conducted in future. It does, however, still provide some interesting insights. The findings from our work can be used by those currently reviewing the actuarial education programs in Australia. The broad results indicate that around 50% of students found their Part I courses covered technical material useful in their employment, and well over 50% of graduates considered non-technical training as very important for their readiness for employment. The Part II results indicated a much higher satisfaction with the content than the Part I courses in preparing students for employment. The Part III courses were not rated as highly as the Part I and II courses and the teaching quality was particularly criticised. Overall, the results indicated that the graduates surveyed found their Part I and II courses valuable but wanted greater training in the non-technical skills needed in employment, particularly communication skills, and while they found the Part III courses applicable to their employment, they expressed dissatisfaction with the education process.

Keywords: actuarial education, graduate survey

Suggested Citation

Butt, Adam and Evans, John R. and Farmer, Jim and Pitt, David, A Pilot Survey of Actuarial Graduates’ Views on Their Education (March 26, 2014). Australian Journal of Actuarial Practice 2014, 1, 63-75. Available at SSRN: https://ssrn.com/abstract=2688861

Adam Butt (Contact Author)

Australian National University - Research School of Finance, Actuarial Studies & Statistics ( email )

Canberra, Australian Capital Territory 2601
Australia

John R. Evans

Centre for Analysis of Complex Financial Systems ( email )

PO Box 363
Summer Hill, 2130
Australia

Jim Farmer

Macquarie University, Macquarie Business School ( email )

New South Wales 2109
Australia

David Pitt

University of Melbourne - Department of Economics ( email )

Melbourne, 3010
Australia

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