Sunday, October 24, 2010

Job Outlook

  • Employment is expected to grow much faster than average
  • Actuarial employment is expected to grow about 21 percent from 2008-2018
  • Consulting firms should experience some of the highest employment growth
  • While pension actuaries will decrease in demand over the years
  • Another group that is similar to actuaries that expects growth is financial services and consulting

Sunday, October 17, 2010

$$Salary$$

  • Median annual wages of actuaries were $84,810 in May 2008.
  • The middle 50 percent earned between $62,020 and $119,110.
  • The lowest 10 percent had wages less than $49,150.
  • The top 10 percent earned more than $160,780.

Monday, October 11, 2010

Qualifications for an Actuary

  • Need a strong background in Mathematics and General Business
  • Actuaries usually earn an undergraduate degree in Mathematics or Business
  • Many companies require you to pass the actuarial exam before starting your career
  • Usually Actuaries move around businesses earlier in there career to gain experience for there main job place
  • A Coporate Finance class is required as well

Friday, October 1, 2010

Overall Job Description

  • Actuaries analyze data to estimate the probability and likely cost to the company of an event such as death, sickness, injury, disability, or loss of property.
  • Actuaries generally have a bachelor’s degree and must pass a series of examinations—often taking 4 to 8 years—to gain full professional status.
  • About 55 percent of actuaries are employed by insurance carriers.
  • Actuaries have desk jobs, and their offices usually are comfortable and pleasant. While most actuaries work at least 40 hours a week, those in consulting type jobs may be required to travel and thus work more than 40 hours per week.
  • Median annual wages of actuaries were $84,810 in May 2008. The middle 50 percent earned between $62,020 and $119,110. The lowest 10 percent had wages less than $49,150, while the top 10 percent earned more than $160,780.
  • I got all this information from (http://www.bls.gov/oco/ocos041.htm)

Three Interesting Facts About Me

What I Want to Learn

  • I would like to know exactly how many examination test you have to take.

  • What is the exact salary.

  • What classes do I need to take in college to become a Actuarial Science Major.

  • What internship opportunities does this major offer.

  • How do Actuaries contribute to Society.

  • The Importance of an Actuary.

  • The future employment outcome.

  • Overall job description such as stress level,hours worked per week,environment, and etc.
  • What I Dont Know

    • If there is any other job opportunities of having an Actuarial Science major.
    • Is it very hard to find a job after college with this major
    • What all qualifications do you need
    • Is it a independent job or dependant job
    • I would like to know exactly how many examination test you have to take.
    • The benefits of this job
    • If this major just deals with the insurance field

    What I Know

    • Actuarial Science Majors deal with the mathematical and statistical side of insurance planning,benefit plans, and pension plans.
    • To have a degree u have to have a ton of background knowledge in mathematics.
    • Its usually a 4 year degree.
    • Although you have to pass a series of examination tests
    • The salary to be an actuary is considered to be really good.
    • Usually actuaries work in a large business firm or a small insurance company.