Careers in Actuarial Science

An actuary is a business professional who analyzes the financial consequences of risk. They interpret statistics to determine probabilities of accidents, sickness, death, and loss of property from theft and natural disasters. Actuaries use mathematics, statistics and financial theory to study uncertain future events, especially concerning insurance and pension programs. Actuaries are considered the “financial architects” of the business world.  The field is highly competitive and prepares students to pass exams that lead to certification by the Society of Actuaries.  Actuaries are in high demand and work for insurance companies, consulting and investment firms, government, employee benefit departments of large corporations, hospitals, and banks.  The CareerCast.com's 2010 Jobs Rated Actuary as the #1 career opportunity.

Possible Job Titles of Actuarial Graduates:
Actuarial Assistant
Actuarial Analyst
Associate
Underwriter Trainee

Starting Salary Information:
Class of 2011 St. John’s undergraduate Actuarial Science majors averaged $59,666

Skills Required:
Strong math (calculus) and statistical comprehension (probability)
Analytical thinking
Proficiency in programming languages (VB) and database manipulation
Detail oriented and complicated problem solver
Persistence and self-motivation
Strong written and oral communication
Ability to work with others

Additional Resources:
Society of Actuaries (SOA)
www.soa.org

BeAnActuary.org
www.beanactuary.org

Casualty Actuarial Society (CAS)
www.casact.org

American Academy of Actuaries
www.actuary.org

O*NET US Department of Labor Career Guide, 2011 Actuarial Careers
www.bls.gov/ooh/ocos041.htm

American Society of Pension Professionals & Actuaries
www.aspa.org