Career Impact: Which Exams Matter Most for Hiring

Entry-Level Hiring

For entry-level actuarial positions, passing 1 to 2 preliminary exams is typically expected. Exam P and Exam FM are the most commonly passed exams for entry-level candidates, and most employers view them as interchangeable signals of commitment and capability. Having 2 exams passed gives a meaningful advantage over candidates with only 1, and 3 exams further strengthens a candidacy. Beyond 3 exams, the marginal hiring benefit diminishes for entry-level roles. Employers weigh exam progress alongside GPA, internship experience, technical skills, and communication ability.

Career Advancement Impact

As careers progress, continued exam progress becomes critical for advancement and compensation growth. Most employers provide exam raises of $2,000 to $7,000 per preliminary exam passed and larger increases for upper-level exams. The ASA or ACAS designation typically brings a significant salary increase (15% to 25%) and opens doors to management and leadership roles. Fellowship (FSA or FCAS) provides the highest credential-based compensation boost. The exams with the greatest career impact are the ones that complete a credential level (the final exam for ASA or ACAS), as they unlock new job opportunities and significantly higher salary ranges.