Becoming an Actuary

Actuaries get paid to analyze statistics and work out the probability that certain events will take place. If you want to know how likely it is that someone who is 25 years old now will live to see his or her 100th birthday, an actuary is the person who can determine the likelihood for you.

Most people who work as actuaries work for insurance companies. They use their knowledge of finance and business to determine the level of risk that an applicant for insurance presents and the premium level will be based on their findings. Some actuaries work for government agencies or property-liability companies.

Man holding different types of technology concepts

Actuaries work regular hours in an office setting. This type of work calls for logical thinking and the ability to work well with numbers. Communication skills are important, since the actuary will need to explain his or her findings to co-workers and supervisors.

Education Required to Become an Actuary

To work as an actuary, getting obtain a Bachelor’s Degree in Math, Statistics, or Actuarial Science is a good start. Some actuaries do their undergraduate work in Business, Engineering, or Fine Arts. After completing the undergraduate degree, prospective actuaries must complete a number of exams in order to be licensed. You can get more information about the required exams by visiting the Be An Actuary web site.

Employment Trends for Actuaries

The future looks bright for actuaries. There is a great demand for people trained in this area due to companies being very cautious about risk and managing risk.

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