Actuary

Actuaries construct probability tables to forecast risk. They collect and study information about how often people are ill, at what age they die, how often people have accidents, how often their injuries keep them from working, and at what age people retire from their jobs. Then they use these data to establish the insurance premiums. The premiums they establish must be sufficient to pay policyholders, cover operating expenses, and make a profit while remaining competitive with other insurance companies (WisCareers, 2014).

Career Overview

HOURS, CONDITIONS, & LOCATIONS

• Work 40-50 Hours a week

  • *Some actuaries may work more if they consult with other insurance companies to plan policies

• Work in offices

  • Many work for insurance companies

  • Some work for government agencies

  • Some also hold positions at colleges and universities

PROS & CONS

• Pro:

  • Enjoy using mathematical talent

  • Receive high salaries

  • Working Environment

  • Career Outlook

• Con:

  • Study for many tests

  • Geographically limited