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Understand for the Present, Predict for the Future
The Actuary analyzes statistical data, such as mortality, accident, sickness, disability, and retirement rates, and constructs the probability tables to forecast risk and liability for payment of future benefits.
They may also ascertain insurance rates required and cash reserves necessary to ensure payment of future benefits.
RELATED JOB TITLES
Actuarial Analyst, Actuarial Associate, Actuarial Consultant, Actuary, Consulting Actuary, Corporate Actuary, Health Actuary, Pricing Actuary, Product Development Actuary, Reserving Actuary
Facts and Stats
Your career outlook is looking good – just like these stats.
O*NET Code: 15-2011.00
Median wages (annual)
2024
Projected job openings
2023-2033
Projected growth (much faster than average)
2023-2033
What You Need to Know
- Mathematics — Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
- Economics and Accounting — Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
- Computers and Electronics — Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
- Law and Government — Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
- Administration and Management — Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.
Top Technology Requirements Included in Job Postings
- Analytical or scientific software — IBM SPSS Statistics; Insightful S-PLUS; SAS; Statistical software
- Data base user interface and query software — Data entry software; Microsoft SQL Server; Oracle software; Structured query language SQL
- Financial analysis software — GGY AXIS; Oak Mountain Software AnnuityValue; Pricing software; Towers Perrin MoSes
- Object or component oriented development software — C++; Oracle Java; Python; R
- Presentation software — Microsoft PowerPoint
When You Choose Miami, Your Career Journey Begins
Once you’ve selected your program at Miami, the Center for Career Exploration and Success will help you explore career paths, prepare for the job market, and make meaningful connections. With personalized support, resources, and events, you’ll gain the skills and confidence to navigate your career journey.
Discover how to turn your passions into a career path. Explore majors and careers that match your interests.
Build the skills to succeed in your career journey. Prepare for internships, interviews, and the workplace.
Make meaningful connections to launch your career. Access networking opportunities, career fairs, and employer events.
This page includes information from O*NET OnLine by the U.S. Department of Labor, Employment and Training Administration (USDOL/ETA). Used under the CC BY 4.0 license.