12-13-2003, 04:20 PM
Answers to your questions one by one.....
1. Quite a few Actuaries have qualified from Pakistan, but only about mere 20 in 'regular practice' reside in Pakistan... Others decide to go abroad due to better opportunities for 'practice'... Its also due to the fact that people don't even know what or who an Actuary is... Lack of knowledge.
2. Due to the Pensions and Insurance sector not playing a significant part as compared to other countries, Actuaries go into the investment sector.
3. They say the future for Actuaries in Pakistan is bright considering WTO and its impacts on our economy... More multinationals would be competing to get into the main markets of India/Pakistan and would therefore require qualified actuaries.
4. If you get a contract with PWC, KPMG, etc., then surely you should consider staying back there if you're considering longterm plans... Students here have to study by themselves... If you live in UK with your family, then certainly you should stay there... But if you're on a student visa, then consider other factors as well... It would take you extra time (eg 2 years) to complete your course from there as compared to staying in Pakistan and doing it, international students know the relaxed nature of studying at home... Because one ONLY has to think about studies while at home, whereas you might have other things to tackle there... Secondly, saving precious 1-2 years of your career by quickly 'clearing' your exams would not only save your fees and expenses of staying in UK (approx 13,000 pounds p.a), but would also earn you the salary you might get by being employed in those two years if you clear your exams early... However, whatever you do, think 'long-term'.
5. Depends on which field (investment, insurance, etc) you opt to go into... Actuaries with a good work related background can expect to work with salary packages of 100K+ starting... Salaries of FIA's are extremely high and again depend on a lot of factors.
6. I don't think I can comment much on Pakistan's future of Investment banking.
