Career Profiles and Job Opportunities for Actuaries

Minimizing financial risks of the company with their knowledge of business, statistics and finances are the jobs of the actuaries. Most of them are employed in the insurance industry and they specialize in the property and casualty insurance or life and health insurances. Of course they can also be found in other industrial and government financial services.

Job Features

Job profiles of the actuaries are as follows.
They are usually trained in advanced mathematics and business.
Job of the actuaries is to determine the cost of the events such as death, disability, injury, or the property losses.
Investments and pension plans are other chief conce
s of the specialized financial workers.
They are highly skilled in mathematics and computer skills.
Usually the actuary has to work around 40 hours a week.
Consulting actuaries may experience erratic schedules.

Education and Training

Education and training for the actuaries include –
Bachelor’s degree in mathematics or statistics;
Conversely; they could have a specialized science degree;
Course works include calculus, actuarial models, life contingencies, applied statistics and economics;
Applied statistics, fiancé, and economics for the professional certifications.

One of the features of the career of actuaries is that many of them take to job directly after the graduation and work full time during their passing of certification examinations. Career advancements are largely related to their job performances and examinations passed. As the candidates gain experience, they are able to derive management or supervisory positions.

Online University

In these days of internet and World Wide Web, most of the courses are available online and the training course for actuaries is no exception to this common rule. Some of the popular online universities are DeVry University national and international; University of Phoenix; and AIU online while there are many others where the prospective candidate can earn a degree studying online.

Employment and Earning Prospects

Around 60% of the actuaries are employed in the insurance industries. Since the industry is growing fast, the job prospects for actuaries are likely to grow in a corresponding manner. Over 4,300 new jobs are likely to come up by 2016 that indicates an increase of around 24%. Among the states; Connecticut, Kansas, New Jersey, and Massachusetts offer best employment opportunities.

According to BLS studies the median wages during 2007 for the actuaries with higher qualifications was $95,420 and for those with bachelor’s degree was $53,475.