When you’re navigating the gap between SOA Exams P and FM, it might feel like your main focus should be purely on mastering technical content. But this downtime is actually a golden opportunity to sharpen your soft skills, which are just as crucial for a thriving actuarial career. Developing these interpersonal and professional skills early on can set you apart in a field where technical knowledge is expected, but communication, adaptability, and problem-solving truly drive career growth.
Soft skills might seem less tangible than passing exams or crunching numbers, but they play a huge role in how effectively you can apply your technical expertise in the real world. After all, actuaries don’t just analyze data; they need to explain complex ideas to clients, collaborate with teams, and adapt to rapidly changing regulations and market conditions. Let’s explore how you can develop these essential skills between your exams, with practical steps that fit into your study schedule and real-life actuarial roles.
Communication: The Cornerstone of Influence
Clear and confident communication is often the biggest hurdle new actuaries face. You might be brilliant at calculations and models, but if you can’t explain your findings in simple, clear terms, your impact shrinks. Between Exams P and FM, practice expressing technical ideas in everyday language. For example, after studying a concept like present value or annuities, try explaining it to a friend or family member who has no actuarial background. This exercise trains you to distill complex information into key points that resonate.
Another practical way is to volunteer for presentations or discussions at work or study groups. You don’t need a formal setting—simply summarizing your study progress or a solved problem to peers helps build confidence. If your workplace offers writing or presentation workshops, take advantage of them. Some actuarial employers even provide specialized training for writing reports or client communication because they know how vital this skill is.
Remember, communication isn’t just talking; it’s also active listening. Practice listening carefully to your peers, mentors, or clients, and ask clarifying questions. This habit ensures you understand problems fully and shows respect, which builds trust and smooths collaboration.
Problem-Solving: Beyond the Formula
Actuarial work is all about solving problems, but success hinges on how you approach those problems, not just the formulas you apply. Soft problem-solving skills involve critical thinking, creativity, and perseverance. Between Exams P and FM, challenge yourself with case studies or real-world scenarios where the answer isn’t obvious.
For instance, consider hypothetical situations where you must advise a company on risk strategies given incomplete data or changing regulations. Try brainstorming multiple solutions and weighing their pros and cons instead of rushing to the first answer. This method mirrors the uncertainty you’ll face in practice and trains you to think flexibly.
Additionally, cultivate curiosity. Ask “why” and “what if” questions about actuarial models and assumptions. This inquisitiveness can reveal flaws or opportunities others might miss. When working on study groups or projects, encourage open discussions to explore different viewpoints—this collaborative problem-solving sharpens your judgment and interpersonal skills simultaneously.
Adaptability: Thriving in Change
The actuarial profession evolves fast. New software, regulatory changes, and economic shifts mean being adaptable isn’t optional; it’s essential. Between your exams, embrace new tools or techniques even if they aren’t on the syllabus yet. For example, learning basic programming skills in Python or R can give you a huge advantage and ease future workloads.
If your study routine feels rigid, experiment with different approaches—try mixing up study locations, using flashcards, or teaching concepts aloud. This flexibility builds mental agility, helping you adjust quickly to new challenges later.
In your job or internship, volunteer for tasks outside your comfort zone or cross-department projects. These experiences expose you to different perspectives and show supervisors you’re willing to grow. Being adaptable also means managing stress well. Practice mindfulness or time management techniques to maintain focus and resilience when unexpected demands arise.
Team Collaboration: Building Networks and Influence
Actuaries rarely work in isolation. You’ll be part of teams that include underwriters, finance professionals, IT specialists, and more. Developing teamwork skills early helps you navigate these relationships smoothly.
Try to engage actively in study groups, sharing your insights and listening to others. This collaborative environment simulates workplace dynamics and improves your ability to communicate and negotiate. If possible, seek feedback from peers on how you contribute and what you can improve.
At work, take initiative in team meetings by summarizing discussions or volunteering to track action items. Small leadership moments like these build your reputation as a reliable and engaged colleague. Networking is another crucial aspect—connect with other actuaries, attend local or virtual actuarial events, and build relationships that can support your career advancement.
Attention to Detail: Precision Matters
Between your exams, practice developing an eagle eye for detail. Double-check your study work for small errors, and when solving practice problems, question every assumption. This habit of meticulousness is vital in actuarial roles, where tiny mistakes in data or calculations can cause huge financial consequences.
You can improve attention to detail by adopting checklists for your study tasks or work assignments, and by reviewing your work with fresh eyes after a break. Over time, this carefulness becomes second nature and distinguishes you as a trustworthy professional.
Practical Steps to Integrate Soft Skills Development
Balancing exam preparation with soft skill growth might feel daunting, but small, consistent actions can make a big difference:
Schedule brief daily reflections after studying or work to assess how well you communicated your ideas or solved problems.
Set monthly goals focused on one soft skill, such as “speak up in two meetings” or “learn one new programming function.”
Use online platforms like LinkedIn Learning or Coursera to take short courses on communication, leadership, or time management.
Find a mentor or peer coach who excels in these areas and ask for feedback or advice.
Volunteer for non-technical roles in your workplace or student organizations, like organizing events or writing newsletters, to practice leadership and communication.
Why This Matters for Your Actuarial Career
Strong soft skills not only make your daily work smoother but also position you for promotions and more interesting projects. According to industry experts, actuaries who combine technical mastery with communication, adaptability, and leadership are the ones who advance to senior roles and consulting positions[1][3][5].
Moreover, employers are increasingly valuing these skills, sometimes investing in training programs to help actuarial staff grow beyond technical expertise[3]. Developing them early between your SOA exams demonstrates maturity, initiative, and readiness for the broader demands of the profession.
Final Thought
The period between Exams P and FM is more than just a pause before the next technical hurdle—it’s a prime time to grow as a professional. By actively working on communication, problem-solving, adaptability, teamwork, and attention to detail, you’re building a strong foundation for long-term success. These skills will not only help you pass exams but also thrive in the dynamic, collaborative world of actuarial work. Embrace this opportunity as a chance to become not just a good actuary, but a great one.