Actuary
Finance, Banking & Insurance
A program that focuses on the mathematical and statistical analysis of risk, and their applications to insurance and other business management problems.
What Actuarys Do
A program that focuses on the mathematical and statistical analysis of risk, and their applications to insurance and other business management problems.
Common Tasks
Business Teachers, Postsecondary
- 1Prepare and deliver lectures to undergraduate or graduate students on topics such as financial accounting, principles of marketing, and operations management.
- 2Evaluate and grade students' class work, assignments, and papers.
- 3Initiate, facilitate, and moderate classroom discussions.
- 4Prepare course materials, such as syllabi, homework assignments, and handouts.
- 5Keep abreast of developments in the field by reading current literature, talking with colleagues, and participating in professional organizations and conferences.
What You'll Learn
Types of Actuarys
Work Environment
Locations
- • Insurance companies
- • Consulting firms
- • Banks and investment firms
- • Corporate risk management departments
- • Government agencies and regulators
Schedule
Most actuaries work full time on a predictable weekday schedule, with occasional longer hours around deadlines, filings, or major projects.
Physical Demands
Work is primarily desk-based with long periods of sitting and computer use. Physical exertion is minimal, but sustained screen time and repetitive keyboard/mouse use are common.
Salary & Job Outlook
National Employment: 324,200 jobs
Top Paying States
Why Demand May Grow
Demand may rise as insurers, employers, and financial firms rely more on data-driven pricing and risk modeling. Growth in retirement planning, healthcare costs, and climate-related losses can also increase the need for forecasting and reserving expertise.
Skills You'll Need
Pros & Cons
Pros
- • High earning potential
- • Strong job growth outlook in core actuarial roles
- • Analytical work with clear business impact
- • Generally stable, office-based working conditions
- • Opportunities across insurance, finance, and consulting
Cons
- • Professional exams require significant time and discipline
- • Work can be deadline-driven and detail-intensive
- • Heavy computer and spreadsheet/modeling workload
- • Complex topics may require frequent explanation to non-technical stakeholders
- • Some roles can be narrowly specialized
Common Questions About the Actuary Trade
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