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I studied actuarial science for 2 years but had to stop due to funding. I'm now in an IT learnership (events infrastructure team). I'm lost—what should I do with my life?

Hi all,
I could use some honest guidance. I did two years of actuarial science at university but had to stop because of financial difficulties. Right now, I’m in an IT learnership program, working with the events infrastructure team. It’s a completely different field, and while I’m learning a lot, I feel uncertain and a bit lost.

I don’t know if I should try to go back and finish my actuarial degree, pivot fully into IT, or look for something else entirely. I have interests in both fields but no clear path.

Has anyone been through something similar or have advice on how to find clarity or make this kind of decision?

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Karin’s Answer

Hi Siyo,

I am sorry you had to end or interrupt your actuarial science studies! What happened? Did you not get NSFAS? You must have had excellent marks on your NSC/matric, especially in math to get into an actuarial program.

If you want to continue on that path you need to look for other sources of bursaries. I left some links for you below.

But good for you that you landed somewhat on your feet with a learnership and that you are enjoying it!

It might be difficult to decide between the 2 options. I would look at :

1. Length of the learnership and probability that it leads to a job.

2. Earning potential in your current IT field when fully employed and opportunities for promotion and further education.

3. Availability of bursaries for actuarial science and earning potential when fully employed.

Overall, I feel like you would prefer to become an actuary, and you have only 1 year left to earn your bachelors. Mathematical talent is not so common, it would be a pity if you didn't get to use it for what you are interested in.

Check out the bursary option. Also contact some companies that would hire actuaries and ask for opportunities. When you have a degree you start as a trainee in an actuary firm anyway. Maybe there is a way to start at a firm early and sandwich the completion of your studies while they support you. Another option would be to work a job to pay the bills and study part-time.

I hope this helps! All the best to you! You can do it!

KP

Karin recommends the following next steps:

https://www.zabursaries.co.za/
https://acrobat.adobe.com/id/urn:aaid:sc:EU:5bb675ca-7052-4d20-8457-8650d7303a90
https://www.actuarialsociety.org.za/career-paths-actuaries/
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Sean’s Answer

Many young people are faced with similar decisions early on in their academic and professional careers, and it is definitely not easy. Early in my career I too faced situations like this. My approach to addressing the issue and concerns came down to prioritization: what do I absolutely need to do, and what do I prefer to do. If you are individually responsible for your food, clothing, and housing, then your first priority is to have a financial means to support yourself and sometimes that can mean making sacrifices that impact your needs over your desires. Specifically, in regard to your current career options, it's great that you have a job and even better that there may be overlap across your career options (mathematics and hard sciences). If you need to continue in IT but still prefer to be an actuary, you could consider working for large insurance firms that have actuarial staffs. You will get to know the company and build relationships that can help you get closer to your goal. Also, many larger companies offer alternate pathways, training, certificates, or tuition reimbursement programs. For your academics, you could research less expensive options to achieve a degree or complete a certification program. Research schools that are online only, they are often much cheaper than traditional schools. However, be sure to fully research the accreditation of the school and ensure that the accreditation is accepted by the actuarial industry. But all of that said, if you find that you like IT and are successful in it, you can research what the career options are. Either way, if you complete a degree (fulltime, part time, online, over time, whatever) in either mathematics or actuarial sciences, you will be well-served no matter what your career eventually unfolds to be. Good luck in your efforts.
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