dcsimg

Actuary

Actuaries play a key role in the insurance industry by designing insurance policies, pension plans, and other financial strategies that ensure plans are maintained on a solid financial platform. They gather and analyze data to determine the probability and likely cost of the occurrence of an event such as death, sickness, injury, disability, or loss of property. They often have a broad knowledge of statistics, finance, and business. Most actuaries are employed in the insurance industry and specialize in either life and health insurance or property and casualty insurance. In life and health insurance, actuaries are actively developing long-term-care insurance and annuity policies. In other financial service industries, actuaries manage credit, determine prices for corporate security offerings, and develop new investment tools. In government, actuaries manage social programs such as Social Security and Medicare. Staff actuaries employed by businesses, as well as consulting actuaries, work on a contract basis.

Job Skills

Actuaries need to have knowledge of mathematics, computer spreadsheets and databases, and computer programming languages such as Visual Basic. They must be up-to-date on the most current economic and social trends and legislation. They must also be familiar with relevant trends in health, business, and finance. Actuaries, particularly consulting actuaries, need to have strong interpersonal communication skills.

Income

In 2002, actuaries earned a median annual salary of $69,970. Earnings ranged from the lowest 10%, who earned less than $39,700, and the highest 10%, who earned more than $137,650. Entry-level salaries usually range from $40,396 to $46,991.

Training and Education

For entry-level positions, employers look for applicants with a bachelor's degree in mathematics, actuarial science, statistics, or a bachelor's degree in business with a focus in economics, finance, or accounting. More companies are interested in applicants who, in addition to a strong technical background, also have educational experience in liberal arts and business. Actuaries can obtain full professional status through either the Society of Actuaries (SOA) or the Casualty Actuarial Society (CAS), depending on their area of specialization. The process requires passing four initial exams, and then progressing to either the Associate level or the Fellowship level. Most reach the Associate level within 4 to 6 years, and the Fellowship level within a few more years. Entry-level and beginning actuaries usually rotate through different areas of an organization to gain a broad knowledge, and may eventually advance to administrative and executive positions.

Employment

In 2002, insurance underwriters held about 15,000 jobs. More than 50% were employed by insurance carriers. Others were employed by pension funds and insurance agents and brokers.

Job Outlook

Between 2002 and 2012, the number of actuaries is expected to increase about as fast as the average. Growth will be due to steady demand by the insurance industry, which will continue to need actuaries to help develop, price, and evaluate insurance products. Employment in life insurance is expected to continue to decline, while employment in annuities is expected to increase. Growth in the health-care field, due to increased regulation of managed health-care companies, will create opportunities for actuaries specializing in this field. New positions are also being created to deal with new insurance risks, such as terrorism. Those who pass the difficult and lengthy examination process will have good job opportunity.


Actuary Training

Refine School Matches
Hide filters
  • SUBJECT Clear All

    See More

  • DEGREE

    See More

  • PROGRAM TYPE

  • START TIME

    LOCATION
    Please enter valid US or Canada Zip.
            Results open in new window

            Searching Searching ...

            Matching School Ads
            Computerized Accounting - Certificate
            Advanced College , South Gate

            Trade schools in Los Angeles are built on a solid foundation of academic experience, especially Advanced College in South Gate. The founders of Advanced College have 40 years of experience when they opened their own institute of higher learning in 1999, which means Advanced College was student-oriented from day one. Our reputation as a leading vocational nursing & Allied Health school in Los Angeles is well-established, but that is just the beginning. Our expansive South Gate Campus has grown in our time as a school in order to make room for our daily operations. However, our expansion goes beyond the boundaries of our walls.

            Business Management
            Platt College , Riverside
            • A Los Angeles-based private college offering programs in medical sciences, legal studies, and graphic design since 1985.
            • Has weekend programs, including certified  veterinary technology, nurse assistant, and hemodialysis technician.
            • Showcases visual communication students’ artwork and design through campus magazine.
            • 3 campuses in Southern California.
            • Accredited by the Accrediting Commission of Career Schools and Colleges (ACCSC).
            Show more [+]
            • Accredited
            • Flexible Scheduling
            • Accelerated Programs
            • Financial Aid
            • Transferable Credits
            Innovation & Entrepreneurship, Master of Science (Online)
            • Push Your Creativity To The Next Level.
            • Full Sail’s curriculum combines elements of creativity, art, business and life skills, technical prowess, and academic achievement.
            • Full Sail offers accelerated programs, so a degree that would normally take four years takes 24 months on average.
            • Students work with industry-standard tools and technologies, allowing them to gain practical knowledge and real-world experience.
            • Join us on Facebook, Twitter, YouTube and Instagram to interact with our community, read about grad success, and see campus images.
            Show more [+]
            • Online Courses
            Master of Professional Studies in Sports Industry Management

            Georgetown University is a private, not-for-profit, accredited university located in Washington, DC. Founded in 1789 by John Carroll, Georgetown is America’s oldest Catholic and Jesuit University. Today, Georgetown is a major international research university. It has nine schools, an affiliated hospital and many highly-ranked graduate programs.

            • Online Courses
            Graduate Certificate in Human Resource Analytics and Mangement
            • AU challenges students to combine serious study with real-world experience
            • 8 schools & 150+ programs including bachelor’s, master’s & doctoral degrees
            • MSA accredited with multiple accreditations per program, located in Wash. D.C.
            • Ranked #74 in “Best National Universities” by US News and World Report
            • Multiple financial aid options for eligible students in need
            Show more [+]
            • Online Courses
            Business Management and Accounting
            • Offers career placement assistance services to recent graduates.
            • Our short-term allied health programs will give you the skills and knowledge to become a part of the exciting health care field.
            • Programs include Medical Office Specialist, Medical Assistant, Dental Assistant and Healthcare Administration.
            • Accredited by the Accrediting Bureau of Health Education Schools (ABHES).
            • Main campus is located in Van Nuys, California, north of Los Angeles.
            Show more [+]
            • Flexible Scheduling
            • Financial Aid
            • Transferable Credits
            MA: Executive Leadership
            • Liberty University’s online programs ranked in the top 10 out of more than 2,100 colleges & universities for academic quality, affordability, and accessibility.*
            • 100% online programs at associate, bachelor’s, master’s, and doctoral level.**
            • Transfer up to 90 credits into an undergraduate degree program.
            • Up to 50% of your master’s degree can be transferred in to help you get the most out of your hard work and maximize the credit you previously earned.
            Show more [+]
            • Accredited
            • Online Courses
            • Financial Aid
            • Transferable Credits
            Business Administration (BS) (Online)
            • Designated as a 2015 Military Friendly® School by Victory Media, publishers of G.I. Jobs®.
            • Each program is designed to instill the knowledge, ethical values, and interpersonal skills of professional practice and to foster values of social responsibility.
            • Offers several flexible learning options, including a blended format that combines campus and online learning.
            • Several scholarship opportunities are available for students who qualify.
            • Features a competency-based MBA program that allows students to test out of subjects based on prior professional experience.
            Show more [+]
            • Online Courses
            • Flexible Scheduling
            • Financial Aid
            • Transferable Credits
            Business Administration - Property Management (BS)
            • Offers several scholarship opportunities for students who qualify.
            • Laptop computers are issued to each student at the beginning of their program.
            • Provides programs in health care, business, information technology, and graphic arts.
            • Respiratory Therapy program is accredited by the Commission on Accreditation for Respiratory Care (CoARC).
            • Accredited by the Accrediting Commission of Career Schools and Colleges (ACCSC).


            Show more [+]
            Master of Science in Organizational Leadership
            • Presents stimulating, thoughtful programs for students in every academic field
            • SACS accredited w/many accreditations per program & 14:1 teacher-student ratio
            • 7 colleges with dozens of majors & programs to choose from for undergrads & grads
            • Beautiful 248 acre campus with ¾ mile waterfront located in Jacksonville, FL
            • Named an “America’s Best College” in the south for 10+ years, US News & World Report
            Show more [+]
            • Online Courses