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2021 Actuaries Salary Guide

Analyze statistical data, such as mortality, accident, sickness, disability, and retirement rates and construct probability tables to forecast risk and liability for payment of future benefits. May ascertain insurance rates required and cash reserves necessary to ensure payment of future benefits.

Actuaries Salary

Salary

$108.4K

Growth

18%

Bright Outlook

Bright

Green

No

Actuaries Job Description

Analyze statistical data, such as mortality, accident, sickness, disability, and retirement rates and construct probability tables to forecast risk and liability for payment of future benefits. May ascertain insurance rates required and cash reserves necessary to ensure payment of future benefits.

Also known as:

Actuarial Analyst, Actuarial Associate, Actuarial Consultant, Actuary, Consulting Actuary, Health Actuary, Pricing Actuary, Pricing Analyst, Product Development Actuary, Retirement Actuary

How Much Do Actuaries Make ? 2021

Percentile 10% 25% 50% (Median) 75% 90%
Annual Wage $64,860 $81,210 $108,350 $148,720 $193,600
Hourly Wage $31.18 $39.04 $52.09 $71.50 $93.08

How Much Do Actuaries Make ? 2021

Percentile
10%
25%
50% (Median)
75%
90%
Annual Wage
$64,860
$81,210
$108,350
$148,720
$193,600
Hourly Wage
$31.18
$39.04
$52.09
$71.50
$93.08

Actuaries Tasks

  • Ascertain premium rates required and cash reserves and liabilities necessary to ensure payment of future benefits.
  • Design, review, and help administer insurance, annuity and pension plans, determining financial soundness and calculating premiums.
  • Determine, or help determine, company policy, and explain complex technical matters to company executives, government officials, shareholders, policyholders, or the public.
  • Analyze statistical information to estimate mortality, accident, sickness, disability, and retirement rates.
  • Construct probability tables for events such as fires, natural disasters, and unemployment, based on analysis of statistical data and other pertinent information.
  • Negotiate terms and conditions of reinsurance with other companies.
  • Collaborate with programmers, underwriters, accounts, claims experts, and senior management to help companies develop plans for new lines of business or improvements to existing business.
  • Determine equitable basis for distributing surplus earnings under participating insurance and annuity contracts in mutual companies.
  • Provide expertise to help financial institutions manage risks and maximize returns associated with investment products or credit offerings.
  • Determine policy contract provisions for each type of insurance.
  • Manage credit and help price corporate security offerings.
  • Explain changes in contract provisions to customers.

What Activities Do Actuaries Do?

  • Manage financial activities of the organization.
  • Manage financial activities of the organization.
  • Develop organizational goals or objectives.
  • Analyze health-related data.
  • Analyze data to identify trends or relationships among variables.
  • Negotiate contracts with clients or service providers.
  • Collaborate with others to develop or implement marketing strategies.
  • Manage financial activities of the organization.
  • Manage financial activities of the organization.
  • Manage financial activities of the organization.
  • Manage financial activities of the organization.
  • Provide customer service to clients or users.

Typical Actuaries Knowledge?

  • Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
  • Economics and Accounting - Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
  • English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
  • Computers and Electronics - Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.

What Are Typical Actuaries Abilities?

  • Mathematical Reasoning - Choosing the right type of math to solve a problem.
  • Number Facility - Adding, subtracting, multiplying, or dividing.
  • Deductive Reasoning - Using rules to solve problems.
  • Near Vision - Seeing details up close.
  • Inductive Reasoning - Making general rules or coming up with answers from lots of detailed information.
  • Written Comprehension - Reading and understanding what is written.
  • Oral Comprehension - Listening and understanding what people say.
  • Information Ordering - Ordering or arranging things.
  • Oral Expression - Communicating by speaking.
  • Category Flexibility - Grouping things in different ways.
  • Problem Sensitivity - Noticing when problems happen.
  • Written Expression - Communicating by writing.
  • Speech Clarity - Speaking clearly.
  • Flexibility of Closure - Seeing hidden patterns.
  • Selective Attention - Paying attention to something without being distracted.

What Are Typical Actuaries Skills? 2021

  • Judgment and Decision Making - Thinking about the pros and cons of different options and picking the best one.
  • Critical Thinking - Thinking about the pros and cons of different ways to solve a problem.
  • Mathematics - Using math to solve problems.
  • Reading Comprehension - Reading work-related information.
  • Active Listening - Listening to others, not interrupting, and asking good questions.
  • Complex Problem Solving - Noticing a problem and figuring out the best way to solve it.
  • Systems Evaluation - Measuring how well a system is working and how to improve it.
  • Speaking - Talking to others.
  • Systems Analysis - Figuring out how a system should work and how changes in the future will affect it.
  • Active Learning - Figuring out how to use new ideas or things.
  • Writing - Writing things for co-workers or customers.

What Are Typical Actuaries Interests?

  • Conventional - Occupations related to Conventional interests frequently involve following set procedures and routines. They include working with data and details more than with ideas. Usually there is a clear line of authority to follow.
  • Enterprising - Occupations with Enterprising interests frequently involve starting up and carrying out projects. Many involve leading people and making many decisions. Sometimes they require risk taking and often deal with business.
  • Investigative - Occupations with Investigative interests frequently involve working with ideas, and require an extensive amount of thinking. They often involve research and figuring out problems mentally.

What Is The Projected Employment For Actuaries ? 2021

Location 2019 Employment 2029 Employment Percent change Annual projected job openings
United States 27,700 32,600 18% 2,000

What Is The Projected Employment For Actuaries ? 2021

Location
2019 Employment
2029 Employment
Percent change
Annual projected job openings
United States
27,700
32,600
18%
2,000

What Is The Required Actuaries Education & Experience? 2021

  • Bachelor's degree
  • No work experience
  • More than 1 year on-the-job training

Actuaries Jobs Near Me .

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Actuaries Jobs Near Me .

Actuaries 2021 Salary Guide By State

Common Careers