What does an Actuary do?

Actuaries apply analytical skills, like math, statistics, and financial theory, to quantify risk and financial consequences. Actuaries work to evaluate how likely future events are and then minimize the risk associated with them. The majority of actuaries work for insurance companies as proprerty and casualty insurance actuaries, retirement benefits actuaries, life and accident insurance actuaries, health insurance actuaries, and enterprise risk actuaries.

Actuaries usually have a Bachelor's degree in mathematics, staistics, or actuarial science. Additionally, most actuaries choose to pursue an Associate or Fellow designation by the Casualty Actuarial Society or the Society of Actuaries in order to improve employability. Actuaries must have excellent analytical skills and good business sense, and be self-motivated.

  • Apply advanced actuarial techniques across all tasks
  • Develop, maintain, and analyze projection models
  • Coordinate with external actuary and auditing firms for interim and annual actuarial information
  • Apply sound actuarial principles and maintain actuarial qualifications in compliance with regulations
  • Reconcile and analyze actuarial inputs and outputs
  • Collaborate with key leaders in order to identify and meet information needs
  • Establish actuarial procedures and document them for internal use
  • Bachelor's degree in Mathematics, Statistics, Actuarial Science, or related field
  • Associate or Fellow CAS or SOA designation preferred
  • 3-5 years actuarial experience
  • Advanced Microsoft Excel and Access skills
  • Strong familiarity with GAAP
  • Advanced familiarity with a wide variety of actuarial functions
  • Proficient at working with large data sets
  • High degree of attention to detail
  • Strong verbal and written communication skills
EducationBachelor's Degree
Work/Life Balance
3.9 ★
Salary Range--
Career Opportunity
3.9 ★
Avg. Experience5-7 years

Actuary Salaries

Average Base Pay

$124,789 /yr
Same as national average
Not including cash compensation
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Median: $125K
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Glassdoor Estimated Salary

Actuary Career Path

Learn how to become an Actuary, what skills and education you need to succeed, and what level of pay to expect at each step on your career path.

Senior Actuary
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Actuary Insights

Read what Actuary professionals have to say about their job experiences and view top companies for this career.
Sun LifeSun Life
Head of Actuary
Oct 26, 2020

“• Opportunities to learn and build domain technical expertise and work with some of the best minds in the Industry.”

Actuarial Intern
Jun 6, 2019

“I don't think my manager really had time to have an intern in his department and I was not really necessary.”

Oct 4, 2019

“Not sure about the pay scale and bonus scheme was untransparent.”

May 21, 2021

“Everyone is overworked and unappreciated.”

Blue Cross Blue Shield of MinnesotaBlue Cross Blue Shield of Minnesota
Jun 8, 2020

“Learned a lot; good work and life balance”

Jan 20, 2021

“Good work and life balance”

Bank of EnglandBank of England
Sep 14, 2020

“Really good work life balance with flexitime and working from home being the norm.”

Sun LifeSun Life
Head of Actuary
Oct 26, 2020

“• Multiple areas and opportunities to grow and build a long term career.”

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Actuary Interviews

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