How much does a actuary make?

In the United States, pay can rise with experience and exam progress; some employers give raises or bonuses for passing exams. It also varies by industry and location, and specialty—such as life, health, pension, or casualty work—can matter. Most work full time; some work more than 40 hours a week.

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.

What's a typical day like?

They review claims data and run computer models to estimate future costs or set insurance prices. Then they discuss results with teammates and turn their calculations into charts or a short report.

In the U.S., earn a bachelor's in math or another analytical field and try to pass one or two exams in college; many start as trainees after graduation, often in their early 20s. Pension actuaries need extra experience and exams to enroll.

Usually a bachelor's degree (preparation level 4 of 5)

Good for people who like keeping things organized and figuring things out.

Social Security actuaries use the size of your birth-year group, life expectancy, immigration, and the economy to forecast the program’s future.