Actuaries

It really depends on the individual to be honest. I currently a trainee actuary looking to take on a different career path as I do find the job quite dull. 90% of my time is spent looking a spreadsheets and the exams which I'm studying for (which are extremely time consuming and generally reduce your social life) have little or nothing at all to do with my day to day job. I often believe that learning probability and other complex mathematical theorems for exams is very necessary and just a method of screening out those who aren't fully committed to obtaining final Actuarial qualification.

That being said if you do enjoy studying maths then this is a solid career path which guarantees you (once qualified) to a well paid and relatively low pressure job. Everyone is different so I encourage other maths graduates to give the career a try if interested and simply move like myself if you find it dull.

Actuaries are responsible for predicting future pension fund obligations and contributions; they also determine investment return requirements.

CSU Long Beach is the only CSU with an actuarial major but other CSU's like SJSU and SFSU has applied mathematics as a major concentrating in actuarial science and economics.

Abraham Nduru

Based on a quick survey of the information I found out on the web, the average appears to lie in the range of 115 - 125. Probably a better indicator of how suited someone is to be an actuary is whether they are detail oriented, meticulous, and competent with the requisite mathematics.

A tshirt, jeans, and a legionnaires cap

salary is period of time ?

he earns around 20 cents a year

Actuary - A specialist in the mathematics of insurance who calculates rates, reserves, dividends and other statistics. While sometimes the term is used loosely, the title Actuary really belongs to those who meet the requirements of one of the Actuarial Societies, the Casualty Actuarial Society (CAS), for Property and Casualty Insurance, or the Society of Actuaries (SOA), for Life and Health Insurance. To qualify for membership in these associations, the individual must pass a number of extremely difficult technical mathematical examinations. Because of the rigorous requirements for membership, Actuaries, are very much in demand in the insurance industry and command very high salaries. Actuaries are the analytical backbone of our society's financial security programs. They are the brains behind the financial safeguards we have implemented in our personal lives, so we can go about our daily lives without worrying too much about what the future may hold for us. These are the safeguards that protect us from life's catastrophes. The insight into risk that actuaries have also helps to ensure that our savings are working hard for us, so that everything we love and cherish can grow and flourish. The work of actuaries benefits all of us. "ACTUARY" is a mysterious occupation. Someone once said that an actuary is a guy who, if he enters a revolving door behind you, comes out ahead of you. That's only a joke but it indicates the level of intelligence associated with these professionals. Why is a career as an actuary so satisfying? If you choose an actuarial career you can expect the following: Diverse and varied work. Actuarial skills are in demand in many financial sectors from insurance, pensions and benefits, investment and asset management, to banking, healthcare and the management of large scale capital projects. Working as part of a team or on your own, your role can be limitless, from consultant to analyst to troubleshooter to risk assessor - all in the same day. Influential role. Actuaries often work closely with senior figures from other professions or organisations. Their specialist training and unique skills mean they are behind many high level strategic decisions made by financial service companies and governments. Professionalism. Actuaries are personally responsible for upholding the highest professional standards. The nature of the job demands that actuaries combine good business sense with safeguarding the public's financial interests. Intellectual satisfaction. Actuaries are problem solvers. They use their training to analyse and interpret data, create models of the future to assess risks and estimate outcomes. Then they communicate these often complex facts, ideas and recommendations to people from a wide range of backgrounds. A good work-life balance. With variety comes flexibility, allowing you to balance professional commitments with personal ambitions. Plus opportunities to work part-time, abroad, or from home means you can adapt your work pattern to suit your changing lifestyle. Well paid. Responsibility can come early as you progress through the examinations. With responsibility comes reward. Salaries and benefits packages are excellent - even for those starting out in their career. In fact, it's one of the highest paid professions wherever you go in the world. Whilst studying to qualify as an actuary, your salary also increases significantly, reflecting your achievement. Check out salaries page for typical salaries for new entrants to the profession. An actuary is a specialist mathematician who calculates premiums for insurance companies.

Actuaries earn professional designations based on the organization they belong to and their status in the professional exam system. When an actuary has met certain professional educational standards by passing a series of exams, he or she achieves the designation of Associate. Actuaries who specialize in property and casualty practice receive the ACAS designation. It stands for Associate of the Casualty Actuarial Society. Actuaries who practice in life, health, finance, investments or pensions receive the Associate of the Society of Actuaries, or ASA, designation. After achieving the Associate designation, the actuary can elect to continue to take exams to achieve the highest designation, Fellow. Casualty actuaries are Fellows of the Casualty Actuarial Society or FCAS. Fellow of the Society of Actuaries, or FSA, is the designation achieved by life, health, pension, finance and investment actuaries. Below are the different actuarial designations and organizations that grant them. Check out the actuarial alphabet. FCAS Fellow of the Casualty Actuarial Society ACAS Associate of the Casualty Actuarial Society FSA Fellow of the Society of Actuaries ASA Associate of the Society of Actuaries MAAA Member of the American Academy of Actuaries FSPA Fellow of the American Society of Pension Actuaries MSPA Member of the American Society of Pension Actuaries FCA Fellow of the Conference of Consulting Actuaries MCA Member of the Conference of Consulting Actuaries ACA Associate of the Conference of Consulting Actuaries FCIA Fellow of the Canadian Institute of Actuaries EA Enrolled Actuary What skills are needed to be an actuary? Specialized math knowledge. Calculus, statistics, probability. Keen analytical, project management and problem solving skills. Good business sense. Finance, accounting, economics. Solid communication skills (oral & written). Strong computer skills. Word processing programs, spreadsheets, statistical analysis programs, database manipulation, programming languages. What talents are needed to be an actuary? Self-motivation Creativity Independence Ability to work with others Ambition In a nutshell, the abilities developed and honed by successful actuaries include an excellent business sense with a knowledge of finance, accounting and economics, keen analytical, project management, and problem solving skills, specialized math knowledge, strong computer skills, and solid written and oral communication skills. In addition, actuaries enjoy learning, like to solve complicated problems, enjoy writing and talking to people, can work effectively alone or as part of a team, are interested in a variety of historical, social, legislative, and political issues, and are self-motivated achievers.

A heart surgeon earns more than an actuary in general, however, many actuaries earn in excess of $110,000 once they obtain their fellowship plus they receive annual bonuses of 20% or more. It is a profession where the more experience and exams you pass, the higher your salary is. Visit the following website for accurate salary information for actuaries: http://www.dwsimpson.com/salary.html

Actuaries solve problems in the business world by analyzing and managing risk. To become an actuary, you have to pass a series of exams administered by the Society of Actuaries and/or the Casualty Actuarial Society. While actuaries must be well versed in mathematics, they are also knowledgeable about computer science, economics, pertinent social issues, and the law. Actuaries evaluate financial risks using their business and analytical skills. Actuaries primarily work for insurance companies, consulting firms, and government organizations. However they also work for universities, banks and investment firms, large corporations, accounting firms, hospital and physician organizations, rating bureaus, labor unions, and other organizations. Most companies provide assistance with actuarial exams by offering paid study time and paying for classes, books, and exam fees. Exam takers usually need to study two to three times as much on their own. The exams are among the most grueling of any profession, but they carry significant rewards. Most companies reward raises upon completion of an exam. While not obviously visible, an actuarial career is consistently voted as one of the top professions in America by Jobs Rated Almanac based on job environment, income, outlook, physical demands, security, and stress. You can learn more about an actuarial career at www.BeAnActuary.com.

Stop for a moment and think about those things that are important to you. Having trouble? Someone once told me that if I showed them my checkbook they'd show me what was important to me. Now I question this method. Much of what I truly value in life cannot be found by reading my bank statement or credit card bill. I find peace and refreshment from being in nature, for example, yet that can't be found by looking at any ledger. Some of my fondest memories are of sitting around a table playing cards or board games with friends. You wouldn't know it by glancing at my investment portfolio or find it written in any of my personal files. Are the best things in life really free?

When we talk about values, it invokes a meaning with a deep focus on someone's core being. However, economists and finance professionals spend much time and effort trying to place economic value on certain ethereal items. Accountants try to place value on a corporation's accumulated goodwill. Equity analysts try their darndest to come up with a method to accurate price the value of a stock. Nobel prizes have been awarded for groundbreaking work on pricing models for options. Actuaries spend their days analyzing mountains of statistical data in order to properly price insurance policies. Even the value of our money fluctuates due to global economic pressures.

Why is it so hard to value some things? Because these are made up things. That's right; much of finance is based on reifying abstract concepts and placing a monetary value on them. Of course, that isn't to say that an insurance policy or option contracts are bad things. Of course they serve a useful purpose. But if your life is spent chasing things solely based on their monetary value then in the end you may find it is quite an empty pursuit.

Yeah how do you become a actuary?

Actuaries typically work full-time, averaging around 40 hours a week, which translates to about 8 hours a day. However, during peak periods like reporting seasons or project deadlines, they may work longer hours. Work schedules can also vary based on the employer and specific job responsibilities. Overall, a typical workday for an actuary is structured but can involve additional hours as needed.

environment,income,employment outlook.physical demands and stress.

There are two broad roles for actuaries in Life Insurance: i) Product Development/Pricing (Rating) Designing insurance products and assessin the appropriate premium rates and charges to be applied. ii) Financial Management Ensuring the comnpany's solvency by calculating the estimated value of outstanding liabilities allowing for example for future claims, premiums, maturities, cancellations.