Be An Actuary

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Computer skills are vital to actuaries. From formulating spreadsheets and running statistical analysis programs to keeping up with the latest online financial news–actuaries always have technology at their fingertips.

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This math professor teaches the subject that all future actuaries love. To pursue the career, you don't have to major in actuarial science–majors in math, statistics, finance, and economics also provide a solid foundation for students considering a career as an actuary.

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A visit to the college Financial Aid office by a future actuary will pay off—a career in actuarial science can lead to potential earnings from $150,000 to $250,000 annually for experienced Fellows. Talk about return on investment!

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You won't find an actuary in this Health Center, but their work is the backbone of the health insurance industry. Actuaries figure out the price of health insurance premiums, based on criteria like age, health, and habits. In the U.S., the Affordable Care Act has created many new opportunities for actuaries.

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At the campus library, you will find future actuaries reading a variety of books and journals to get the well-rounded education they need. Actuaries are known for their ability to learn and assimilate a wide range of information and communicate it effectively.

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Like to work in a group? Actuaries work in teams to develop products, analyze insurance industry trends, write business proposals, give presentations, and interact with colleagues from across their company.

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These two students are going to their Corporate Finance class, as they work on the requirements for earning an actuarial credential. Future actuaries must complete approved courses on certain topics to fulfill the Validation by Educational Experience (VEE) requirements. Learn more in the College Study section.

THE PROFESSIONAL LIFE

Do the Math

An insurance company determines that N, the number of claims received in a week, is a random variable with P[N = n] = ¹/₂ⁿ⁺¹, where n > 0 . The company also determines that the number of claims received in a given week is independent of the number of claims received in any other week. Determine the probability that exactly seven claims will be received during a given two week period.