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What is an actuary and how to become one
An actuary uses mathematical and statistical techniques to analyze financial risk and uncertainty. They work in insurance, finance, and consulting, helping companies manage financial risks by calculating the probability and impact of future events. Actuaries also design policies, determine pricing, and assess the financial strength of companies. They use modeling techniques and data analysis to make informed decisions, often working closely with other professionals to ensure accurate and relevant findings.
Avg. Salary $88,255
Avg. Salary $59,228
Growth Rate 21%
Growth Rate 0.3%
American Indian and Alaska Native 0.00%
Asian 17.32%
Black or African American 3.11%
Hispanic or Latino 5.13%
Unknown 3.00%
White 71.44%
Genderfemale 25.71%
male 74.29%
Age - 37American Indian and Alaska Native 3.00%
Asian 7.00%
Black or African American 14.00%
Hispanic or Latino 19.00%
White 57.00%
Genderfemale 47.00%
male 53.00%
Age - 37Stress level is high
7.1 - high
Complexity Level is advanced
7 - challenging
Work Life balance is fair
6.4 - fair
What are the pros and cons of being an Actuary?
Pros
High salary potential
Job security
In-demand profession
Opportunities for continuing education
Impactful work
Cons
Challenging exams and certification requirements
Limited creativity in some areas of work
High level of responsibility and accountability
Limited job opportunities in certain geographic areas
Risk of burnout or fatigue from intense work demands
Actuary career paths
Key steps to become an actuary
Explore actuary education requirements
Start to develop specific actuary skills
Skills 
Percentages Risk Management 13.10% VBA 8.90% GAAP 5.17% SAS 5.16% Health Insurance 4.85% Complete relevant actuary training and internships
Accountants spend an average of 4-10 years on post-employment, on-the-job training. New actuaries learn the skills and techniques required for their job and employer during this time. The chart below shows how long it takes to gain competency as an actuary based on U.S. Bureau of Labor Statistics data and data from real actuary resumes.Research actuary duties and responsibilities
- Support the development and implementation of manually-rate renewal strategies, lead by a season FSA.
- Manage the design, implementation and oversight of all insurance and reinsurancepricing functions and processes for corporation.
- Complete several health and group annuities projects.
- Administer payroll, conduct accounts reconciliations, and track all A/R and A/P.
Get actuary experience
Prepare your actuary resume
When your background is strong enough, you can start writing your actuary resume.
You can use Zippia's AI resume builder to make the resume writing process easier while also making sure that you include key information that hiring managers expect to see on an actuary resume. You'll find resume tips and examples of skills, responsibilities, and summaries, all provided by Zippi, your career sidekick.
Choose From 10+ Customizable Actuary Resume templates
Build a professional Actuary resume in minutes. Browse through our resume examples to identify the best way to word your resume. Then choose from 10+ resume templates to create your Actuary resume.
Apply for actuary jobs
Now it's time to start searching for an actuary job. Consider the tips below for a successful job search:
- Browse job boards for relevant postings
- Consult your professional network
- Reach out to companies you're interested in working for directly
- Watch out for job scams
How Did You Land Your First Actuary Job
Are you an Actuary?
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Average actuary salary
The average Actuary salary in the United States is $88,255 per year or $42 per hour. Actuary salaries range between $52,000 and $147,000 per year.
What Am I Worth?
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Updated January 8, 2025
