What do they do?

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.

Also known as:

Actuarial Analyst, Actuarial Associate, Actuarial Consultant, Actuary, Consulting Actuary, Corporate Actuary, Health Actuary, Life Actuary, Pricing Actuary, Product Development Actuary, Reserving Actuary

Typical Wages

Projected Growth Rate

Employment of Actuaries is projected to grow 30 percent from 2020 to 2030, much faster than average compared to all occupations.

Projected Employment in CA

No Data Available
  • 30.8%

    Change

    Ranks #4 in job growth rate
    120

    Job Openings

    Ranks #10 in net job growth

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Education Level

Percent of workers in this field with these degrees:

  • Doctorate or Professional Degree  (11%)
  • Master's degree  (22%)
  • Bachelor's degree  (66%)
  • Associate's degree  (<1%)
  • Some college, no degree  (1%)
  • High school diploma equivalent  (<1%)
  • Less than high school diploma  (<1%)

Typical College Majors

Most Popular Majors that prepare Actuaries

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People in this career often have these skills:

  • Reading Comprehension - Understanding written sentences and paragraphs in work-related documents.
  • Mathematics - Using mathematics to solve problems.
  • 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.
  • 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.
  • Complex Problem Solving - Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
  • 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.
  • Speaking - Talking to others to convey information effectively.
  • Systems Analysis - Determining how a system should work and how changes in conditions, operations, and the environment will affect outcomes.
  • Writing - Communicating effectively in writing as appropriate for the needs of the audience.

People in this career often know a lot about:

  • Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
  • Computers and Electronics - Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
  • Economics and Accounting - Knowledge of economic and accounting principles and practices, the financial markets, banking, and the analysis and reporting of financial data.
  • English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.

People in this career often have talent in:

  • Mathematical Reasoning - The ability to choose the right mathematical methods or formulas to solve a problem.
  • Inductive Reasoning - The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
  • Number Facility - The ability to add, subtract, multiply, or divide quickly and correctly.
  • Oral Comprehension - The ability to listen to and understand information and ideas presented through spoken words and sentences.
  • Written Comprehension - The ability to read and understand information and ideas presented in writing.
  • Oral Expression - The ability to communicate information and ideas in speaking so others will understand.
  • Written Expression - The ability to communicate information and ideas in writing so others will understand.
  • Deductive Reasoning - The ability to apply general rules to specific problems to produce answers that make sense.
  • Category Flexibility - The ability to generate or use different sets of rules for combining or grouping things in different ways.
  • Problem Sensitivity - The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing that there is a problem.
  • Information Ordering - The ability to arrange things or actions in a certain order or pattern according to a specific rule or set of rules (e.g., patterns of numbers, letters, words, pictures, mathematical operations).
  • Near Vision - The ability to see details at close range (within a few feet of the observer).
  • Speech Clarity - The ability to speak clearly so others can understand you.
  • Speech Recognition - The ability to identify and understand the speech of another person.

People in this career often do these activities:

  • Manage financial activities of the organization.
  • Collaborate with others to develop or implement marketing strategies.
  • Analyze health-related data.
  • Develop organizational goals or objectives.
  • Analyze data to identify trends or relationships among variables.
  • Negotiate contracts with clients or service providers.
  • Provide customer service to clients or users.

This page includes data from:

O*NET OnLine Career data: O*NET 28.1 Database by the U.S. Department of Labor, Employment and Training Administration (“USDOL/ETA”). Used under the CC BY 4.0 license. O*NET® is a trademark of USDOL/ETA

U.S. Bureau of Labor Statistics Logo Occupation statistics: USDOL U.S. Bureau of Labor Statistics Occupational Employment Statistics

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