Abstract
M.Com.
Science, technology, engineering, and mathematics (STEM) disciplines gained recognition and status during the Second World War, because scientists, mathematicians, and engineers were needed to develop, maintain, and improve war machines, and then to rebuild economies after the war. Over the centuries, STEM disciplines have evolved, and are positioned as a critical differentiator between mature economies and those struggling to cope with the effects of globalisation. Actuarial science is a field of study within the STEM disciplines, and is largely concerned with the application of analytical, statistical, and mathematical skills to financial problems to assess and interpret risk and uncertain future events. STEM disciplines are characterised by a shortage of women, and actuarial science is no exception. This phenomenon is even more prevalent where black women are concerned. This study investigated the experience of six black female qualified actuaries in South Africa in terms of the internal and external factors that contributed to their choosing Mathematics in school and actuarial science in university, and ultimately qualifying and persisting in the field. Narratives and interviews were used to collect data detailing the women’s experiences in three phases: choosing Mathematics in school, choosing actuarial science at university and qualifying as actuaries, and persisting in the field. Thematic analysis was conducted.
The results indicate that there were multiple external factors that contributed to their choices, but the greatest determining internal factor was self-efficacy. Self-efficacy is the belief in one’s capabilities to succeed. It is argued in this study that self-efficacy encourages one to partake willingly in the process and activities that lead to success, even when facing adversity and challenging circumstances. The conclusion is drawn that self-efficacy is an intrinsic or internal human factor that is shaped and nurtured by parents, peers, and other external factors, and maintains sustainable levels of motivation, which may result in success in a chosen course of action.