Actuary

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Work Tasks

• Help insurance companies plan for the future
• Use math to figure out how much a company may have to pay if there is a loss or accident
• Set up insurance for businesses
• Make sure a company makes money while keeping the price low for the customer
• Work in insurance offices, banks, government offices, etc.
• Work with numbers, reports, accident information, government regulations, and computers

Salary, Size & Growth

• $83,500 average per year ($40.25 per hour)
• A small occupation (18,300 workers in 2010)
• Expected to grow rapidly (2.1% per year)

Education/Training

• Minimum for Entry: A 4-year degree in actuarial science, math, statistics, economics, finance, insurance, accounting, or a related subject
• Employers Prefer: A master's or doctorate in actuarial science
• Skills/Courses: A strong background in math, business, and computer skills
• Licensing/Certification: Actuaries can either be licensed in life and health insurance (including pensions, finance, and investments) or in fire and accident insurance (including medical malpractice, workers compensation, and liability insurance). These certifications can be earned while working in the field and may take six years or more.