Goals! Insights into the Ambitions of Young Actuaries

Written by Sarah Schadek-Keane, European Actuarial / Financial Services, The Emerald Group

2023 continues to see change in the employment Opportunities facing young actuaries. While the world of work is still absorbing the workplace repercussions of the last few years, exciting new opportunities are emerging, led by data science and AI developments, coupled with national and international opportunities within companies that want to find and develop young professionals who will become the actuarial leaders of the future. 

At Emerald Group, we hear first-hand the personal and professional aspirations of young actuaries.  We also talk to clients about how their company can stand out against competitors, to ensure they can recruit – and retain – the best candidates in the market.

Our observations are that candidates who have up to five years experience are keen on exploring more technical roles as well as developing their programming and coding skills. Their career development and support with gaining qualifications is really important to them: they want more than just salary. In addition, as they experienced COVID at the start of their careers, they are enthusiastic about working in an office environment, despite flexibility in the workplace being a desirable benefit when considering a change in role or company

Diversity within a role is also important to junior actuaries. They don’t want to become an expert in a specific topic straight away: they want to get a holistic view of the actuarial profession first.

We also observe that progression within their specialty areas and their career is important to young talent. They want more responsibility – as well as a timeline on how to get where they want to be.  They want this to be well structured and with clear steps to achieve their goals. If their initial role has been mainly focused on the local market, young actuaries are looking to move into an international environment for their next step, to have more market exposure as well as better career opportunities.

Due to ever-increasing demand within the actuarial profession, companies need to be ready to tackle these topics from the start to become an attractive employer for Gen Z.

If you’re a newly qualified or part-qualified actuary in the early stages of your career, we can help guide your employment decisions, as you progress towards your personal and professional goals.

Please get in touch at sarah.schadek-keane@emerald-group.com to arrange a confidential conversation.

Emerald Group recruit the best candidates into the best roles in today’s insurance markets, both nationally and internationally.  We use our extensive market knowledge and recruitment skills to bring a quality service to everyone we work with.