Actuaries
Analyze statistical data, such as mortality, accident, sickness, disability, and retirement rates and construct probability tables to forecast risk and liability for payment of future benefits. May ascertain insurance rates required and cash reserves necessary to ensure payment of future benefits.Salary by State
| State Name | Employment | Annual Salary | Hourly Salary | |
|---|---|---|---|---|
| Arizona | 110 | $98,380 | $47.30 | |
| California | 1,340 | $116,540 | $56.03 | |
| Colorado | 400 | $109,290 | $52.54 | |
| Connecticut | 1,270 | $140,130 | $67.37 | |
| District of Columbia | 140 | $139,090 | $66.87 | |
| Florida | 790 | $126,600 | $60.87 | |
| Georgia | 870 | $235,310 | $113.13 | |
| Idaho | 30 | $101,130 | $48.62 | |
| Illinois | 1,940 | $113,550 | $54.59 | |
| Indiana | 290 | $123,870 | $59.55 | |
| Iowa | 650 | $106,210 | $51.06 | |
| Kansas | 340 | $105,630 | $50.78 | |
| Maine | 50 | $107,200 | $51.54 | |
| Maryland | 600 | $124,950 | $60.07 | |
| Massachusetts | 860 | $138,810 | $66.74 | |
| Michigan | 440 | $88,440 | $42.52 | |
| Minnesota | 560 | $127,740 | $61.41 | |
| Missouri | 350 | $119,570 | $57.49 | |
| Nebraska | 290 | $117,350 | $56.42 | |
| New Hampshire | 30 | $150,200 | $72.21 | |
| New Jersey | 1,160 | $120,680 | $58.02 | |
| New York | 2,410 | $147,420 | $70.88 | |
| North Carolina | 860 | $129,350 | $62.19 | |
| Ohio | 860 | $105,320 | $50.63 | |
| Oklahoma | 50 | $85,500 | $41.10 | |
| Oregon | 150 | $110,890 | $53.31 | |
| Pennsylvania | 2,320 | $123,540 | $59.39 | |
| Rhode Island | 100 | $105,320 | $50.64 | |
| South Carolina | 40 | $100,930 | $48.52 | |
| Tennessee | 290 | $82,320 | $39.58 | |
| Texas | 1,740 | $107,510 | $51.69 | |
| Utah | 170 | $77,220 | $37.12 | |
| Vermont | $139,670 | $67.15 | ||
| Washington | 210 | $119,720 | $57.56 | |
| Wisconsin | 630 | $114,290 | $54.95 |
Education
The programs listed below are typically the education paths that can land you this kind of job.
A program that focuses on the application of mathematics to the solution of functional problems in fields such as engineering and the applied sciences. Includes instruction in natural phenomena modeling continuum mechanics, reaction-diffusion, wave propagation, dynamic systems, numerical analysis, controlled theory, asymptotic methods, variation, optimization theory, inverse problems, and applications to specific scientific and industrial topics.
A program that focuses on the application of a broad range of mathematical and computational methods to modeling, analysis, algorithm development, and simulation for the solution of complex scientific and engineering problems. Includes instruction in numerical analysis, discrete mathematics, operations research, optimization, differential equations, statistics, scientific computation, and applications to specific scientific and industrial topics.
A general program that focuses on the relationships between groups of measurements, and similarities and differences, using probability theory and techniques derived from it. Includes instruction in the principles in probability theory, binomial distribution, regression analysis, standard deviation, stochastic processes, Monte Carlo method, Bayesian statistics, non-parametric statistics, sampling theory, and statistical techniques.
A program that focuses on the mathematical theory underlying statistical methods and their use. Includes instruction in probability theory parametric and non-parametric inference, sequential analysis, multivariate analysis, Bayesian analysis, experimental design, time series analysis, resampling, robust statistics, limit theory, infinite particle systems, stochastic processes, martingales, Markov processes, and Banach spaces.
A program with a general synthesis of mathematics and statistics or a specialization which draws from mathematics and statistics. Includes instruction in calculus, linear algebra, numerical analysis and partial differential equations, discrete mathematics, probability theory, statistics, computing, and other related topics.
Any instructional program in statistics not listed above.
A program that focuses on the application of statistics to the solution of functional problems in fields such as business, engineering, medicine, and the applied sciences. Includes instruction in the principles in inference, probability theory, regression analysis, descriptive statistics, stochastic processes, Monte Carlo method, Bayesian statistics, non-parametric statistics, sampling theory, statistical computing, and statistical techniques.
A program that focuses on the principles of business risk measurement, mitigation, and management. Includes instruction in business analytics, foundations of insurance and risk management, investments, life and health insurance, loss prevention, property and liability insurance risk assessment, risk control, risk financing, and security.
A program that focuses on the mathematical and statistical analysis of risk, and their applications to insurance and other business management problems. Includes instruction in forecasting theory, quantitative and non-quantitative risk measurement methodologies, development of risk tables, secondary data analysis, and computer-assisted research methods.
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$125,300 per yearNational average salaryVery HighJob growth rate
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Bachelor's degreeTypical education requirement
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Long-term on-the-job trainingTypical on-the-job training requirement
Educational Attainment
The following chart shows the highest education level completed by those working as actuaries.
- Less than high school 0%
- High school graduate 0%
- College dropout 2%
- Associate’s degree 0%
- Bachelor’s degree 62%
- Master’s degree 24%
- Doctorate degree 12%
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