Information Provided by the Bureau of Labor Statistics Occupational Outlook Handbook
A strong background in mathematics is essential; actuaries must pass a series of examinations to gain full professional status. About 6 out of 10 actuaries are employed in the insurance industry. Employment opportunities should remain good for those who qualify, because the stringent qualifying examination system restricts the number of candidates.
On average, Actuaries earn $ 82,800 per year.
Job Opportunities for Actuaries are expected to:
Increase faster than average.
Through their knowledge of statistics, finance, and business, actuaries assess the risk of events occurring and help create policies that minimize risk and its financial impact on companies and clients. One of the main functions of actuaries is to help businesses assess the risk of certain events occurring and formulate policies that minimize the cost of that risk. For this reason, actuaries are essential to the insurance industry.
Actuaries need a strong foundation in mathematics, statistics, and general business. They generally have a bachelors degree and are required to pass a series of exams in order to become certified.
Actuaries held about 18,000 jobs in 2006. Over half of all actuaries were employed by insurance carriers. Approximately 21 percent work for professional, scientific and technical consulting services. Others worked for insurance agents and brokers and in the management of companies and enterprises industry. A relatively small number of actuaries are employed by government agencies.\
