Actuaries: What They Actually Do

By Angie Miller



Creative? Like working with computers? Able to assess situations? Probability is your thing?

Actuaries are in the field of Mathematics and Computer Science. They are becoming more and more needed growing at a faster than average rate of job growth in the next 10 years. With a median salary of $91,060 in the United States, actuaries are actually doing a necessary job. From assessing risk of negative events to predicting future impacts, actuaries help mediate between individuals and businesses.

Work environment for an actuary is typically around 40 hours per week usually at a desk job but sometimes traveling as well. Generally actuaries will analyze statistical information and determine rates based on probabilities to reduce the impact of the risks, determining specific policies for clients and helping to improve existing business, and constructing probability tables that events are likely to occur.

Education is focused on classes including mathematics, computer science, and economics. Generally actuaries must have a bachelor’s degree and also become certified by completing a sequence of exams. Approximately 100 colleges and universities in the United States offer an actuarial science program.

Personality skills that are key for actuaries include knowledge and interest in current events in health, business, and finance, being able to communicate with others effectively, and computer software skills.

Similar careers to actuaries are accountants, financial analysts, cost estimators.

For further information including links, articles and videos check out:

 http://www.sciencebuddies.org/science-engineering-careers/math-computer-science/actuary#keyfactsinformation

---