Career Profile
Actuaries
Actuaries use mathematics, statistics, and financial theory to analyze the financial costs of risk and uncertainty.
General Information
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.
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Actuaries
Occupational Outlook
For the Rural Capital Area
Job Opportunities
Over the next five years, an average of 3 openings per year are projected for Actuaries.
Employment Change
Employment for Actuaries is forecasted to increase significantly more than the regional average by 25.6% between 2023 and 2028.
Earnings Potential
An average worker in this occupation is paid $43.92/hour. Entry level workers are paid $30.34, while experienced workers are paid $54.58. The median wage is significantly above average regional wages across occupations.
Local Employment Opportunities
There are 28 Actuaries in the RCA region. By 2028 this number could reach 35.
Top 5 Employing Industries, Locally
The top industries employing Actuaries are Agencies, Brokerages, and Other Insurance Related Activities, Management, Scientific, and Technical Consulting Services, and Insurance Carriers.
Knowledge Areas
The top most significant knowledge categories for Actuaries include Mathematics, Computers and Electronics, and Economics and Accounting.
Educational Attainment Patterns
The most common level of education for Actuaries is Bachelor's. 100% of people employed in these roles have some form of college degree.