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Queries through CCP Pakistan Facebook Group

Queries through CCP Pakistan Facebook Group

Query: Please guide me about the required website as I want to collect data about below mentioned topics: GDP, National Income, Inflation rate, Growth Rate(Pakistan) I need just for general knowledge and I am seeking some kind of authentic website from where I can get actual and real figure of these.

Advisors Replies

Malik Nawaz

Check the website of Department of statistics, government of Pakistan. Dear you must consider this link I hope that is helpful for you.
http://www.pbs.gov.pk/node/28.

Also check statistical departments of government and research center, articles that have published in any journal according to this topic

Noor A S Qureshi

Please check here http://www.sbp.org.pk/ecodata/index2.asp,

 http://www.finance.gov.pk/publications_latest.html

http://www.cbr.gov.pk/

http://www.fbr.gov.pk/budget/?view=ExternalLink%3Fview%3DExternalLink&ActionID=+&ArticleID

 

Query: I have recently done Masters in Actuarial Sciences (16 Years Education) from University of the Punjab Lahore. I have few options please guide me which one is better; 1) IELTS and go U.K for MS in Actuarial Science from University of the Manchester, 2) M.phill in Finance from University of the Central Punjab in evening + Job.

Advisor Replies

Shaista Khanum

Dear Kashif Shah you still have time to stay in Pakistan before your admission happens in any foreign University. Then use this time in a way that can help you support yourself in future and further your career in your field. You can do IELTS along with your part time/full time job. Meanwhile if you have time to get registered for S.O.A. and do its exam preparation then you can also go for it. Please reply if any one of these suggestions suits you and you need to modify them with further guidance.

it is just adjustment of timing for you to do so many things. Start your career in Pakistan first, make a plan, in writing, how you can adjust all activities according to admission, exams and interview. Then go ahead with your plan.

 

Query: What is the scope of actuarial sciences and risk management in Pakistan?

Advisors Replies

Malik Nawaz

Actuarial students may get safe job in many fields like banks, statistical institutions, Research firms, insurance sector, and teaching and in many others but these are major.

The lifestyle and thinking of people is changing with time. They are not only utilizing their money to insure their life and assets but also to get maximum benefit of their money involved in it. Increasing number of money and insurance policy holders are strengthening this fact. This changing frame of mind of people has converted actuarial science into a career full of employment opportunities.

This stream of science is completely dependent on calculation. Actuarial science is the discipline that applies mathematical and statistical methods to assess risk in the insurance and finance industries. The experts of this field are known as backbone of the insurance sector as they assess the financial brunt of future events which are uncertain.

There are a wide range of areas in which Actuarial science professionals work. These areas are financial institutions, pensions and employee benefits, insurance sector, reinsurance companies, investment, consultancies and risk management.

Day by day new opportunities are leaping forth in Actuarial science. Apart from banking, insurance, financial, BPO and other sectors are also looking forward for Actuarial science professionals. So, there is a pool of opportunity if your numerical skills are strong. You can definitely pursue any above listed domain if you love to play with numbers.

The work of an actuary involves a lot of number crunching and the nature of work is quite tedious, nevertheless it offers rewards in terms of intellectual challenge, status, job satisfaction and earnings. As their judgment is the basis of decision making for many business activities, their career paths often lead to upper management and executive positions.

Traditionally actuaries have been associated with insurance sector but in present scenario with the economy opening up actuaries are needed in sectors like employee benefits, health insurance, asset-management, reinsurance; insurance broking houses non-life insurance and consulting companies.

The job of an actuary involves formulating policies and calculating the premium to be charged. For this they assemble and analyze data to estimate the probability of such eventualities as death, sickness, injury, disability and property loss and formulate a sum which is advantageous to the customer as well as the company. In areas where employee benefits and retirement/ pension schemes are dealt, the actuaries have to calculate the amount of money to be paid as contribution to pension fund in order to generate a certain income level post-retirement. Actuaries in administrative positions have to explain technical matters to executives, government officials, shareholders, policyholders. Actuaries working in tandem with government/ government agencies are responsible for designing social security and Medicare plans. Many of these professionals work as independent consultants providing actuarial advice to clients for a fee. Some also provide investment advice. Actuaries have scope for career growth not only in Pakistan but also in countries like USA, UK, Canada and Australia where they already have the necessary infrastructure and support system available.

 

Query: I am doing BS MATHS from turkey. It will be finish in next year. Should I go for MS in math or any other options available except education field like MIT or business etc.? will you please tell me which kind of engineering options available after doing BS MATH? and what about MS should I do in mathematics or in other fields? In NASA jobs which you told me needs an 30 semester hours of computer sciences in depth, while in my qualification i have studied pure mathematics only, so am I eligible for this? Which of the following having a great scope in Pakistan??? PhD in math’s(topology),banking, chemical engineering or MBA

Advisors Replies

Zill E Huma Farooq

With Double Mathematics….. It would be great!! Also it can lead you towards engineering, insurance and finance field.

Maha Khalid

BS in math basically opens a lot of engineering options for you. You have now, the option of, choosing what type of engineer you see yourself as a few years down the road. You can also pursue a doctorate and teach it. If you wish you can aim really high and aim for NASA. In fact if you go to http://jobsearch.usajobs.opm.gov/ [opm.gov] and search for jobs with the keyword AST (aerospace technology), the qualifications say

“Basic Education Requirement: A bachelor’s degree from an accredited college or university with major study in an appropriate field of engineering, physical science, life science, computer science, or mathematics (not engineering technology). “

Those are the NASA jobs available to math and engineering majors.

USAJOBS – The Federal Government’s Official Jobs Site

www.usajobs.gov

But you’ll definitely need to decide on a specialization soon, best to do it now than after your MS.

M.Sc/Ph.D: One of the best higher studies option available for the B.Sc Mathematics graduate is to do Master’s Degree in Mathematics followed by P.HD or M.Phil. You can find a promising career in Research or Teaching field. Another option is to do Master’s Degree in Economics or Econometrics. This will help you pursue one of the best career options, Economic services.

MCA: Master of Computer Application (MCA) is the best higher study option for the B.Sc Mathematics graduate wishing to pursue their career in IT sector. Research Agencies like Defense Research and Development Organization prefer MCA graduates with Mathematics background in their Remote Sensing Centers. So MCA is a good higher study option.

MBA: Master of Business Administration (MBA) is the best higher study option for a B.Sc Mathematics graduate wishing to pursue a career in Management field. After the specialization in Finance in MBA, one can reach to higher positions like Chief Finance Officer in Corporate Sector.

you may pursue these as well:

Chartered Accountant (CA)

Chartered Financial Analyst (CFA)

Certified Financial Planner (CFP)

Company Secretaryship (CS)

There are jobs available in various other sectors for the graduates of B.S Mathematics.

Software

Insurance

Market research

Banking sector

As for the NASA reference I posted, that is after MASTERS… I was merely guiding you to the highest target you can set and ultimately achieve. One can pursue aerospace technology after BS and apply to NASA

You can opt for chemical engineering, or you can research the engineering possibilities on any engineering university website, those will help you decide which engineering is best suited to your preferences. Check out GIKi for Pakistan and any other abroad, depending on where you would like to pursue your masters

if you want to teach – go for a PHD, if you want to work: go for banking or chem engineering and if you want to pursue purely business then MBA is a necessity because sooner or later growth will require you to have an MBA with a certain amount of work experience. If by scope you want to limit yourself to working in PAKISTAN alone. Then my advice to you would not be to pursue a certain degree to get a good job but to not limit yourself to finding work here only. Frankly speaking, the job scene is constantly changing esp in Pakistan given our currently unpredictable situation: I would advise you to not base your future career goals on the basis of what is doing great now, because for instance, only a year from now no marketer knew that digital marketing would take over other modes of communication as far as advertising is concerned. But it has happened, HBL just initiated branchless banking. There is immense opportunity in Pakistan for entrepreneurs, seldom try their luck. But times are changing now. So ultimately the choice is yours, however you see yourself years down the line.

CFA are the highest paying analysts. Highest paying jobs in the world. At one time this was the same for ACCA. If you intend to pursue CFA, then you can ensure a great career. But its not so easy to ace, so if you decide to get on this track, be prepared for great amount of study.

: http://www.cfainstitute.org/cfaprogram/Pages/index.aspx

it’s a three level exam! You can find out more on the link above!

There is no university in Pakistan yet that teaches CFA, there are however private centers that help with study! Academies!!! Passing all three levels makes your a chartered financial analyst. CFA stands for ‘Chartered Financial Analyst’. Obtaining a CFA charter involves sitting a set of 3 exams based on a rigorous curriculum designed by the CFA Institute that primarily covers Investment Management, Financial Analysis, Portfolio Management and Ethics in the Finance profession. The normal entrance requirements are a U.S. or equivalent Bachelors degree to sit the exam. The ultimate award of the charter further requires professional work experience and good professional standing. The program has worldwide recognition and is considered the premier qualification in Finance and Investments. The program can be completed on a self-study basis using the CFA Institute curriculum. You can get more information on their website and here is the face book page .https://www.facebook.com/CFAInstitute

its a three level exam. Like A levels is taken in two years on average, we have AS level and A level. You take cfa level 1 exams if you pass you then prep for level 2 and then for level 3, ideally CFA is a 3 yr examination, but if one does not pass a level, they retake it and then it becomes 4 and some people even finish in 5.

http://www.cfainstitute.org/cfaprogram/process/Pages/index.aspx

www.cfainstitute.org

CMA requirement is bachelors, I am sure you can Google these

Doubt many Pakistani universities offer those here and have a great repute, so wouldn’t advise you on them.

 

I am currently in the last year of A level. My subjects are sociology, psychology, economics and mathematics. I got 4As and 1E in my AS. I don’t think so i would be able to continue with mathematics this year. Therefore, i am dropping it. I want to go to IBA for BBA. So now my concern is that would IBA take me in with these subjects for BBA and plus shall i take another subject instead of mathematics or shall I continue with 3 subjects?

CCP Pakistan Advisor replies

Saima Zuberi

Someone from IBA would be the best person to advise you. I goggled a contact person for you and I hope he’d be able to help you.

Ishfaque Ahmed Lashari, Manager-Career Development Centre (CDC) IBA. Try to contact him and let him know that you are aspiring to graduate from IBA. Ask him if he could help you with a quick question about your subject selection. In the end, ask him if he could refer you to someone who can advise. You can also “Like” CDC and send a message. Hope that helps!

 

Maha Khalid

3 subjects are fine, good idea to drop math and for any university she should stick to social sciences or humanities. her choice, whatever she aspires to be accordingly she must chose her subjects.

Psychology, socio majors will put her in well paid NGOs, government organizations, USAid, UN etc. economics will put her in finance jobs, corporate relations, foreign exchange, investment banking, economics related research etc.

And yes IBA does take students with 4 As. But her overall persona, application, extracurricular, O level grades and interview will decide final admittance

 

Hammad Siddiqui

Best is for her to check with IBA Admissions office

Hasnain Malik

IBA has no such compulsory requirement that mathematics must be in your Inter or A level so she can apply

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