Analysis of the job uptake of Bachelor of Science in Actuarial Science Graduates from Makerere University

Abstract

The main objective of this study was to establish the influence and impact the actuarial science graduates have in the insurance sector. This impact the graduates cause in the insurance sector was to be majorly detected from the job uptake by the actuarial science alumni immediately after graduation. The study hence aims to find out whether the variables of gender, age, residence of the graduate, year of graduation, C.G.P.A, Internship, the post graduate degree, kind of post graduate degree, professional course, kind of professional course and the professional actuarial exams done have any significant relationship on the job uptake of the actuarial science graduates. It used primary data collected a questionnaire on a sample of respondents from the actuarial science alumni in Uganda. The analysis was done using frequency distributions, Pearson chi-square and multinomial logistic regression. In the results, majority of the graduates got jobs from the insurance sector (54.67%) with a similar majority having done their internships from the insurance (46.67 %). A small proportion of 4.00% did professional actuarial exams and all had done only one exam so far. Majority of the actuarial science graduates passed with a 2nd class lower C.G.P.A (2.8-3.59) (46.67%). In the bivariate analysis, it was found that the significant factors influencing the job uptake of these actuarial science graduates were residence, internship and kind of professional course the graduate did whose P-values were less than 0.1. In the multivariate analysis, an actuarial science graduate residing outside Kampala getting a job in the banking sector other than the insurance sector was 26.29836 more times than that of one residing within Kampala(RRR=26.29836). A graduate residing outside Kampala getting a job in other sector instead of the insurance sector was 6.292706 more times than that of one residing within Kampala(RRR=6.292706) The findings indicate the need to establish more insurance strongholds outside Kampala and making sure Insurance structures are widely spread throughout the country to make it easier for those residing outside Kampala to offer a service in this industry.