Welcome! We´re glad you´re visiting.
Since you are looking at information on how to start an actuarial career, we´ve organized this site to help you make important decisions about your education and career.
So what is an actuary anyway? Actuaries are professionals trained in mathematics, statistics and economic techniques that allow them to put a financial value on future events. For example, what is the risk that a 16-year-old in the Chicago area will have an auto accident in 1998 and what will the average dollar amount to fix the damage be? How many people aged 40 - 65 will have heart attacks in 2001 and what will their average claim be? How much money does a health insurance company need to set aside to pay for all the claims it will have in a given year? How much should homeowners pay for insurance? Actuaries can answer all those questions and any other risk-based questions by building and running mathematical models.
This skill, is of great value to insurance companies, investment firms, employee benefits consulting firms, and other types of companies that need to quantify (put a price tag on) financial risks. Typically, it is with this type of firm that actuaries work. Actuarial science is a well paid profession. At the time of this writing, entry level salaries fall between $32,000 - $45,000. For good candidates, signing bonuses are also common. Top actuaries with many years experience often earn over $100,000 a year. Many actuaries eventually leave the technical work behind and move into senior management of companies during the course of their careers. For example, many chief executives of insurance companies are actuaries.
Most actuaries have at least an undergraduate degree and all must pass a series of examinations in order to work in the profession. There are two testing bodies in North America for actuaries. You are at the website of the Society of Actuaries which tests actuaries who work in the fields of life and health insurance, employee benefits, and investments. The Casualty Actuarial Society (CAS) tests North American actuaries who work in the fields of property and casualty insurance. To go to the CAS site, click here casact.org.
Well that´s who we are. We hope you´ll find the information you need here. If you would like a packet of information on the profession and the exams, e-mail Pat Garrity at pgarrity@soa.org. If you are taking exams or have other career questions, e-mail Pat Holmberg at pholmberg@soa.org. If you have suggestions for this page e-mail Linda Heacox, at lheacox@soa.org.
Actuarial Career Information Fair
(Read The Future Actuary and find the topics actuarial students are talking about.)(A unique career planning guide is now available for students and actuaries who want to take hold of their careers. Check out The Actuary's Career Planner in the Member Services area of this website.)
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