There are a good number of roles available for MA Applied Economics students. Economics is the most demanding field that offers a good number of job roles for the skilled professionals. The present article tries to explore some important job roles available for MA Applied Economics students.
Actuary
As an actuary; one will be learning the various techniques involved in analysing the data, evaluating the financial risks and communicating this information to the non-specialists. They normally work in insurance companies and they deal with insurance policy premium amounts for a customer.
Role of an Actuary
An actuary evaluates, manages and advises on financial risks in the insurance companies. They use their knowledge of business and economics together with their understanding of probability theory, statistics and investment theory, to provide strategic, commercial and financial advice to their clients or organisations. As an actuary one will be using financial and statistical theories to assess the livelihood of a particular individual and their possible financial costs.
Responsibilities of an Actuary
As an Actuary one is needed to:
- Use mathematical modelling techniques and statistical concepts to determine probability and assess the risks such as analysing pension scheme liabilities to price commercial insurance
- Analysing statistical data in order to calculate for example, accident rates for particular groups of people
- Develop new financial products
- Prepare presentations, reports, validations and quarterly updates
- Monitoring risk within trading positions in investment banking to ensure excessive risks are not taken during the fast pace of trading
- Advising on issues such as selection of investment managers or the administration of pensions and benefits
- Working with mergers and acquisitions
Salary and Emoluments
The fresh MA Applied Economics students will be easily earning around 5 lakhs to 8 lakhs per annum as an actuary. The experienced professionals will be earning around 8 lakhs to 15 lakhs per annum.
External Auditor
External Auditors combine first-rate people skills with a high level of attention to detail to help business of all types and sizes to achieve their performance potential
