Career Overview Discovering what an Actuary does
Anactuaryis a person who evaluates the risk of certain events occurring such as sickness, injury, disability, death, or property loss and how much they will cost financially. Actuaries are some of the most well paid professionals in the work place, making nearly$100,000 annuallyand it is considered one of the most desirable jobs available today. Being an actuary isn't easy though and requires a thorough knowledge of math and science, as well as numerous examinations and likely a long internship when first beginning in the field.
To be an actuary one must have a college degree in the field of math, statistics, actuarial science, finance, accounting, or economics. As well as having a strong degree and a desire to work in a field relating to one of these subjects, actuaries are also required to take biannual exams that may take up to ten years to complete. Once a degree has been achieved and the exams passed, many actuaries begin their career by embarking upon a lengthy term as an apprentice during which they learn the field and are trained in how to anticipate changes.
Since one of the primary things that an actuary does is anticipate the cost of certain events happening, many of them work for insurance companies. In this role they may either work as insurance agents or consultants and play an important part in managing how much money their company pays out for accidents and injury. This is not always the case however as many corporations are now hiring actuaries to keep them apprised of changes in their particular field of interest. As an actuary it is crucial to know and be able to anticipate changes in the economy as well since cost is a deciding factor in many of the decisions that a person working in this field may make.
Actuaries are very well paid but there is agreat amount of workthat goes into getting to that point. Aside from college, the actuarial exams and an internship, they may also be required to travel in order to meet clients. If pursuing a job in this field it is best to learn early on how to deal with both work and school, or work and a social life early on for it is a very demanding field. On average actuaries work over forty hours a week, they travel and are required to maintain a thorough knowledge of economic changes and how they will affect the company that they work for.
If this sounds like the career you are looking for it can be quite rewarding, not only financially but also personally satisfying because actuaries often help those who have suffered losses or injury and are seeking financial help in dealing with their particular crisis.
