Survey from the Society of Actuaries Unveils Key Factors Influencing Career Choices for Vietnamese Students
Vietnam and Chicago, Illinois, March 13, 2025—In Vietnam, the career aspirations of students are shaped by various sociological factors, notably the pursuit of financial security and family expectations. As students navigate their educational paths, understanding these influences is essential for guiding them toward fulfilling careers. One profession that has gained traction among Vietnamese youth is actuarial science—a field known for its critical role in analyzing data to help manage financial risk across a variety of industries, including insurance, retirement and healthcare. A recent survey conducted by the Society of Actuaries (SOA), the world’s largest actuarial professional organization, highlights a growing interest in actuarial careers among Vietnamese high school and university students. The survey also explores the motivations behind this trend and how it aligns with the broader aspirations within this demographic.
Top Factors Driving Vietnamese Students' Career Choices
According to the survey, 35% of Vietnamese students cite opportunities for advancement as a top desire when choosing a career, followed by plentiful job opportunities (27%) and being intellectually challenging (26%). When asked about their top life goals overall, the most important factors among Vietnamese students are: achieving their dream career (33%), being one of the best in their profession/field (32%), and financial stability tied with maintaining a healthy work-life balance (both 31%). Additionally, regarding attitudes toward careers and education, 68% of Vietnamese students expressed interest in a career that contributes positively to society and 65% want a career that only a select few are capable of achieving. For example, with unique skillset requirements and educational rigor, the actuarial profession represents a small fraction of the global workforce with approximately 80,000 practicing actuaries worldwide.
On the other hand, family opinions significantly sway career decisions among Vietnamese students. Many express concerns about pursuing careers that may not be recognized or valued by their families, linking this to cultural values emphasizing honor and success through familial approval. According to the survey, only 47% of Vietnamese students would feel okay pursuing a career their family hasn’t heard of, underscoring the importance of aligning career goals with family expectations.
The Rise of Actuarial Careers in Vietnam
With Vietnamese students’ growing interest in finding careers that align with their financial and academic aspirations, the actuarial profession is becoming increasingly appealing, offering a unique combination of intellectual challenge, financial rewards, and societal impact. As Vietnam’s insurance, finance, and technology sectors continue to grow, the demand for skilled actuaries is on the rise, creating abundant opportunities for career growth and stability. The actuarial profession offers several attractive benefits, including high earning potential and opportunities for advancement, while the rigorous nature of actuarial examinations attracts high-achieving individuals seeking stimulating challenges.
Actuaries help businesses manage risk through meticulous data analysis—an endeavor that resonates well with those who are interested in making impactful contributions to society. Additionally, the field provides clear progression paths, offering professional exams and certifications that unlock new roles and responsibilities.
“Building a strong pipeline for future entrants into the actuarial sciences will help the students to realize their vision and plan their career effectively,” says Andy Peterson, Managing Director, International, Society of Actuaries. “Students in Vietnam are driven by career aspirations but also seek job and financial security, alongside the desire to take care of and honor their family, as well as achieve a strong work-life balance – all of which the actuarial profession offers.”
Over the past five years, there has been a growing interest in the actuarial profession in Vietnam, with a nearly 90% increase in first-time candidates from 2019-2024. In 2024, over 400 candidates took SOA exams in Vietnam.
"Vietnamese students aspiring to become actuaries can access a wealth of resources and support through the Society of Actuaries. From globally recognized certifications to online learning materials and mentorship programs, we are committed to guiding students at every step of their journey,” said Jessie Li, Regional Director, Asia, Society of Actuaries. “By engaging with SOA events, connecting with our local partners, and leveraging our educational tools, students in Vietnam can build a strong foundation for a rewarding actuarial career and contribute to the growing demand for actuarial expertise in the region."
For those interested in exploring the actuarial profession, the Society of Actuaries offers a free Affiliate Membership Program that provides educational resources and networking opportunities for individuals looking to learn more about the career.
Survey Methodology
The survey was conducted online via computer, tablet and mobile phone in English. With 100 total respondents in Vietnam, the responses were weighted by gender, income, level of student, profession of adults in household and persona to demonstrate the diversity of engaging subjects in the report. Data was collected between November 7 – December 14, 2023. A qualifying criterion of high school and university students in Vietnam enabled a more dynamic and transparent view of audience perspective through different levels of education and characteristics. In Vietnam, the focus was also on prominent topics such as life and career goals, as well as attitude toward education and career through a sociological lens. The survey examined essential yet somewhat, uncharted aspects in Vietnam like the potential impact between work, life and family opinions, career advancement and personal preferences.
Read the survey’s highlight result summary.
About the Society of Actuaries (SOA)
With roots dating back to 1889, the Society of Actuaries (SOA) is the world’s largest actuarial professional organization, with more than 34,000 members worldwide. The SOA advances actuaries as leaders in measuring and managing risk to improve financial outcomes for individuals, organizations, and the public.
The SOA traces its roots to the Actuarial Society of America, which was formed by a select group of chief actuaries at established life insurance companies. In 1909, actuaries at newer life insurance companies formed the American Institute of Actuaries. In 1949, these two groups merged to form the Society of Actuaries.