Actuary: Executive Summary
We all face risks: Our home could burn down. We could get in a car accident. Or maybe need surgery. One way we manage risk is by buying insurance. And actuaries are the brains that figure out how much each person or group should pay for that insurance. Insurance companies hire lots of actuaries, of course, but so do government agencies looking at Social Security and Medicare reform, and banks trying to figure out how to price bond and stock offerings. Myth: Actuaries are mumbling number crunchers who simply massage figures all day. You'll do a lot of that, but you'll also need good communication skills, since you'll spend a fair amount of time managing employees and presenting complicated material to higher-ups. One number you won't mind crunching is your salary–it often reaches six figures.
$75,062. More specific salary data, provided by salary.com
Training
In addition to a math-related bachelor's degree, you'll have to pass a series of arduous actuarial exams. Ten are required for the prestigious Fellow of the Society of Actuaries designation, but you can get an entry-level job after taking just one or two. Each test requires months of diligent study. The Society of Actuaries has info on actuarial exams and on the profession in general.
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