Career Finder

Actuaries

What do they do?

Analyze statistical data, such as mortality, accident, sickness, disability, and retirement rates and construct probability tables to forecast risk and liability for payment of future benefits. May ascertain insurance rates required and cash reserves necessary to ensure payment of future benefits.

Education Required

Most of these occupations require a four-year bachelor's degree, but some do not.

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What Does This Job Pay?

Median Annual Salary: $120,000
Median Hourly Salary: $58
$75,380
$120,000
$209,310
One out of ten earn less than $75,380
The median salary is $120,000
One out of ten earn more than $209,310

Top Skills For This Job

  • Basic Skills
  • Reading work related information
  • Listening to others, not interrupting, and asking good questions
  • Noticing a problem and figuring out the best way to solve it
  • Thinking about the pros and cons of different options and picking the best one
  • Reading work related information
  • Talking to others
  • Noticing a problem and figuring out the best way to solve it
  • Reading work related information
  • Thinking about the pros and cons of different ways to solve a problem
  • People and Technology Systems
  • Reading work related information
  • Listening to others, not interrupting, and asking good questions
  • Noticing a problem and figuring out the best way to solve it
  • Thinking about the pros and cons of different options and picking the best one
  • Reading work related information
  • Talking to others
  • Noticing a problem and figuring out the best way to solve it
  • Reading work related information
  • Thinking about the pros and cons of different ways to solve a problem
  • Thinking about the pros and cons of different options and picking the best one
  • Measuring how well a system is working and how to improve it
  • Problem Solving
  • Reading work related information
  • Listening to others, not interrupting, and asking good questions
  • Noticing a problem and figuring out the best way to solve it
  • Thinking about the pros and cons of different options and picking the best one
  • Reading work related information
  • Talking to others
  • Noticing a problem and figuring out the best way to solve it
  • Reading work related information
  • Thinking about the pros and cons of different ways to solve a problem
  • Thinking about the pros and cons of different options and picking the best one
  • Measuring how well a system is working and how to improve it
  • Noticing a problem and figuring out the best way to solve it

Will There Be Jobs?

New job opportunities are very likely in the future.

Typical Daily Tasks

  • Ascertain premium rates required and cash reserves and liabilities necessary to ensure payment of future benefits.
  • Collaborate with programmers, underwriters, accounts, claims experts, and senior management to help companies develop plans for new lines of business or improvements to existing business.
  • Analyze statistical information to estimate mortality, accident, sickness, disability, and retirement rates.