Actuaries

Actuaries spend their days working with computers to process, analyze, and interpret complex data. They evaluate information regarding mortality, accident, sickness, disability, and retirement rates to construct probability tables. This helps organizations determine necessary cash reserves and set appropriate insurance rates.

To succeed in this role, professionals must possess strong skills in mathematics, critical thinking, and complex problem solving. They need a deep knowledge of economics, accounting, and computer systems. Because their work involves forecasting risk, actuaries must demonstrate work styles such as attention to detail, cautiousness, and dependability. They must also communicate their findings clearly to supervisors, peers, and clients, translating technical data into actionable business decisions.

Entering this career typically requires a bachelor's degree, and most professionals need several years of related experience. Students often prepare by majoring in fields such as statistics, applied statistics, applied mathematics, business administration, management sciences and quantitative methods, or management and operations.

Professional certifications can help candidates advance. Examples of certifications in this field include the Associate of the Society of Actuaries, the Associate from the Secure Retirement Institute, the Certified Pension Consultant, and the Retirement Plans Associate. Additionally, some states list licensing requirements for individuals performing this work.

The median annual pay for actuaries is $130,000. Earnings can vary significantly based on experience and location, with the lowest 10 percent earning less than $78,570 and the highest 10 percent earning more than $215,100.

There are 26,670 people employed in this field. Between 2025 and 2035, employment is projected to grow by 9.2 percent, which is much faster than the average for all occupations. This growth is expected to result in approximately 1,500 job openings each year.