Actuary

Overview and Key Facts

woman at desk

Education
Bachelor's degree

Median Pay
$108,350

Job Growth
17.60%
(Above US Average)

Jobs in 2029
32,600

What Do They Do?

An actuary could...

Overview
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Life is full of risks to both people and property. Actuaries predict the chances that future negative events will occur in a person's life, and then think of ways to reduce those chances, or reduce the impact of those negative events. Actuaries help bring peace of mind to both families and to businesses.
Actuary
Watch this video to meet real-life actuaries and find out who they are and what they do.

Do You Have the Skills and Characteristics of an Actuary?


  1. Judgment and Decision Making: ?
  2. Critical Thinking: ?
  3. Mathematics: ?
  4. Reading Comprehension: ?
  5. Active Listening: ?

Core Tasks

Think about if you'd like the typical tasks an Actuary might do:
  • Ascertain premium rates required and cash reserves and liabilities necessary to ensure payment of future benefits.
  • Design, review, and help administer insurance, annuity and pension plans, determining financial soundness and calculating premiums.
  • Determine, or help determine, company policy, and explain complex technical matters to company executives, government officials, shareholders, policyholders, or the public.
  • Provide advice to clients on a contract basis, working as a consultant.
  • Analyze statistical information to estimate mortality, accident, sickness, disability, and retirement rates.
  • Construct probability tables for events such as fires, natural disasters, and unemployment, based on analysis of statistical data and other pertinent information.
  • Negotiate terms and conditions of reinsurance with other companies.
  • 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.
  • Determine equitable basis for distributing surplus earnings under participating insurance and annuity contracts in mutual companies.
  • Testify before public agencies on proposed legislation affecting businesses.
  • Determine policy contract provisions for each type of insurance.
  • Testify in court as expert witness or to provide legal evidence on matters such as the value of potential lifetime earnings of a person disabled or killed in an accident.

Salary & Job Openings

Steps to Get There: Becoming an Actuary

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On the Job

More Information

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