Actuaries
FinanceO*NET 15-2011.00United States
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.
- Median annual earnings
- $130,000
- Projected change
- +18.3%
- Typical education
- Bachelor's degree
- Employment
- 35.16K jobs
50th percentile, United States
2025 to 2035
89.3% of the workforce
Growing to 41.59K by 2035
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The work
What actuaries do
Tasks reported for this occupation, ordered by how often they come up in the role.
- Ascertain premium rates required and cash reserves and liabilities necessary to ensure payment of future benefits.
- Collaborate with programmers, underwriters, accounts, claims experts, and senior management to help companies develop plans for new lines of business or improvements to existing business.
- Analyze statistical information to estimate mortality, accident, sickness, disability, and retirement rates.
- Design, review, and help administer insurance, annuity and pension plans, determining financial soundness and calculating premiums.
- Determine, or help determine, company policy, and explain complex technical matters to company executives, government officials, shareholders, policyholders, or the public.
- Construct probability tables for events such as fires, natural disasters, and unemployment, based on analysis of statistical data and other pertinent information.
- Provide advice to clients on a contract basis, working as a consultant.
- Determine equitable basis for distributing surplus earnings under participating insurance and annuity contracts in mutual companies.
- Negotiate terms and conditions of reinsurance with other companies.
- Provide expertise to help financial institutions manage risks and maximize returns associated with investment products or credit offerings.
- Testify before public agencies on proposed legislation affecting businesses.
- Determine policy contract provisions for each type of insurance.
Pay and outlook
What the job pays and where it is heading
Annual earnings range
Reported earnings by percentile, United States
- 10th percentile
- $78,562
- 25th percentile
- $97,677
- 50th percentile
- $130,000
- 75th percentile
- $170,643
- 90th percentile
- $215,093
The gold marker shows the median. Half earn more than $130,000 and half earn less.
Employment outlook
2025 to 2035 projection
+18.3%much faster than average
202535,162 jobs
2035 projected41,593 jobs
6,431 more positions over the decade, before replacement hiring.
Preparation
Education levels
What people currently working in the career hold. These are not entry requirements.
- Bachelor's degree
- 89.3%
- Master's or Professional degree
- 10.7%
Skills
Skills employers ask for
Technical skills appearing most often in job postings for this occupation.
How the work gets done
Core competencies
Broad capabilities associated with strong performance in this occupation.
- Mathematics
- Using mathematics to solve problems.
- Reading Comprehension
- Understanding written sentences and paragraphs in work-related documents.
- Critical Thinking
- Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions, or approaches to problems.
- Judgment and Decision Making
- Considering the relative costs and benefits of potential actions to choose the most appropriate one.
- Systems Evaluation
- Identifying measures or indicators of system performance and the actions needed to improve or correct performance, relative to the goals of the system.
- Complex Problem Solving
- Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
- Active Listening
- Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
- Systems Analysis
- Determining how a system should work and how changes in conditions, operations, and the environment will affect outcomes.
- Speaking
- Talking to others to convey information effectively.
- Writing
- Communicating effectively in writing as appropriate for the needs of the audience.
- Active Learning
- Understanding the implications of new information for both current and future problem-solving and decision-making.
- Monitoring
- Monitoring/Assessing performance of yourself, other individuals, or organizations to make improvements or take corrective action.
- Time Management
- Managing one's own time and the time of others.
- Operations Analysis
- Analyzing needs and product requirements to create a design.
- Service Orientation
- Actively looking for ways to help people.
- Social Perceptiveness
- Being aware of others' reactions and understanding why they react as they do.
- Coordination
- Adjusting actions in relation to others' actions.
- Persuasion
- Persuading others to change their minds or behavior.
- Learning Strategies
- Selecting and using training/instructional methods and procedures appropriate for the situation when learning or teaching new things.
- Management of Personnel Resources
- Motivating, developing, and directing people as they work, identifying the best people for the job.
In the market
Job titles and employers
Recent job postings in United StatesCommon job titles
- 01Actuarial Analysts2,347 postings
- 02Actuaries1,198 postings
- 03Actuarial Analysts/Associate Actuaries582 postings
- 04Pricing Actuaries434 postings
- 05Actuarial Consultants414 postings
- 06Actuarial Associates361 postings
- 07Principals349 postings
- 08Pricing Actuarial Analysts324 postings
- 09Consulting Actuaries210 postings
- 10Life Actuaries180 postings
- 11Actuarial Services Managers176 postings
- 12Actuarial Interns160 postings
- 13Risk Adjustment Analysts157 postings
- 14Health Actuaries125 postings
- 15Actuarial Assistants107 postings
- 16Organizational Managers107 postings
- 17Forecast Analysts102 postings
- 18Marketplace Managers102 postings
- 19Actuarial Specialists94 postings
- 20Pension Actuaries83 postings
Top employers
- 01Blue Cross Blue Shield445 postings
- 02USAA417 postings
- 03Prime Therapeutics390 postings
- 04Centerwell Limited Partnership367 postings
- 05Molina Healthcare341 postings
- 06The Hartford315 postings
- 07Humana309 postings
- 08Elevance Health266 postings
- 09Public Consulting Group227 postings
- 10Ally208 postings
- 11CVS Health199 postings
- 12Zurich Insurance188 postings
- 13DW Simpson184 postings
- 14Pryor Associates Executive Search183 postings
- 15AON180 postings
- 16Evolent158 postings
- 17Marsh McLennan158 postings
- 18Milliman120 postings
- 19Nationwide110 postings
- 20Rxbenefits103 postings
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