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Employment
Actuaries held about 18,000 jobs in 2004, with 6 out of 10 employed in the insurance industry. A growing number of actuaries work for firms providing a variety of corporate services, especially management and public relations, or for firms offering consulting services. A relatively small number of actuaries are employed by security and commodity brokers or by government agencies.
Earnings
Median annual earnings of actuaries were $76,340 in May 2004. The middle 50 percent earned between $54,770 and $107,650. According to the National Association of Colleges and Employers, annual starting salaries for graduates with a bachelor's degree in actuarial science averaged $52,741 in 2005. Insurance companies and consulting firms give merit increases to actuaries as they gain experience and pass examinations. Some companies also offer cash bonuses for each professional designation achieved.
Related Occupations
Actuaries need a strong background in mathematics, statistics, and related fields. Other workers whose jobs involve related skills include accountants and auditors, budget analysts, economists, market and survey researchers, financial analysts and personal financial advisors, insurance underwriters, mathematicians, and statisticians.
Common Lay Titles
Actuarial Analyst
Actuarial Assistant
Actuarial Associate
Actuarial Mathematician
Actuary
Health Actuary
Insurance Actuary
Pricing Actuary
Pricing Analyst
Product Development Actuary
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Schools Offering Degrees for
Actuaries |
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Career
Assessment
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