Actuaries

Also Called: Actuarial Analyst, Actuary, Pricing Actuary, Product Development Actuary

Bachelor's Degree

usually needed

Not Available
(Students Only)
Match Percentage

$75,380

Entry Salary

Bright

Job outlook

What Actuaries do

Analyze statistical data, such as mortality, accident, sickness, disability, and retirement rates and construct probability tables to forecast risk and liability for payment of future benefits. May ascertain insurance rates required and cash reserves necessary to ensure payment of future benefits.

  • Ascertain premium rates required and cash reserves and liabilities necessary to ensure payment of future benefits.
  • Design, review, and help administer insurance, annuity and pension plans, determining financial soundness and calculating premiums.
  • Determine, or help determine, company policy, and explain complex technical matters to company executives, government officials, shareholders, policyholders, or the public.
Industry Areas:

Information Technology

Expand For Additional Details

Work Context

  • Electronic Mail
  • Indoors, Environmentally Controlled
  • Spend Time Sitting
  • Telephone
  • Face-to-Face Discussions

Tools

  • Notebook computers
  • Desktop calculator
  • Desktop computers
  • Personal computers

Technology

Data base user interface and query software
Microsoft SQL Server
Oracle software
Presentation software
Microsoft PowerPoint
Financial analysis software
Oak Mountain Software AnnuityValue
Pricing software

The Education & Training You Need

Skills

  • Critical Thinking
  • Judgment and Decision Making
  • Mathematics
  • Reading Comprehension
  • Active Listening

Knowledge

Math and Science
arithmetic, algebra, geometry, calculus, or statistics
Business
accounting and economics
management
Arts and Humanities
English language
Engineering and Technology
computers and electronics

Education

  • 63% Bachelor's degree
  • 25% Post-baccalaureate certificate
  • 13% Professional degree

Experience

A considerable amount of work-related skill, knowledge, or experience is needed for these occupations. For example, an accountant must complete four years of college and work for several years in accounting to be considered qualified.

What are some related occupations at different educational levels?


Job Training Match

Demonstrators & Product Promoters

Educational Level

High School Diploma or Equivalent

Insurance Appraisers, Auto Damage

Educational Level

Post-secondary, non-degree

Travel Agents

Educational Level

Associate's Degree

Actuaries Currently Selected

Educational Level

Bachelor's Degree

Business Teachers, Postsecondary

Educational Level

Advanced Degree

What are your training options on the pathway to this occupation?

Advanced Training

There are currently no advanced training opportunities for this career.

ACT & College

  • Adelphi University

    Garden City, NY

  • Air Force Institute of Technology-Graduate School of Engineering & Management

    Wright-Patterson AFB, OH

Apprenticeships

Earn while you learn. Apprenticeships combines paid training & specialized classes to help workers enter highly skilled occupations. Click here for to locate an apprenticeship near you.

Military

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Are You a Good Fit?

Occupation Traits

    • Conventional (Organizer)
    • Enterprising (Persuader)
    • Investigative (Thinker)

Work Styles

  • Analytical Thinking
  • Attention to Detail
  • Integrity
  • Achievement/Effort
  • Dependability
  • Persistence

Values

  • Working Conditions
  • Achievement
  • Independence

Abilities

  • Math
  • Verbal
  • Ideas and Logic
  • Visual Understanding

This is what Actuaries across the country typically make.

$36.24 / hour
$75,380 /year

Entry Level

$57.69 / hour
$120,000 /year

Median Level

$100.63 / hour
$209,310 /year

Experienced Level

Income information reflects a regional average.
Income information reflects a national average.

This career’s National Job Outlook is

Bright

Please be sure to verify the outlook of this occupation with your instructor.

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