Computer & Mathematical
Actuaries
Also called: Actuarial Analyst, Actuarial Associate, Actuarial Consultant, Actuary
US median pay
$130,000
per year, 2025
Job growth 2025–35
+9.2%
faster than average
Openings a year (US)
1,500
31,200 employed
Typical entry education
Bachelor's degree
Preparation 4/5 · Considerable preparation
What this job is
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.
What they do day to day
- Analyze data to determine premium rates required and cash reserves and liabilities necessary to ensure payment of future benefits.
- Analyze statistical information to estimate mortality, accident, sickness, disability, and retirement rates.
- Design, review, and help administer insurance, annuity and pension plans, determining financial soundness and calculating premiums.
- Collaborate with programmers, underwriters, accounts, claims experts, and senior management to help companies develop plans for new lines of business or improvements to existing business.
- Provide advice to clients on a contract basis, working as a consultant.
- Determine, or help determine, company policy, and explain complex technical matters to company executives, government officials, shareholders, policyholders, or the public.
- Construct probability tables for events such as fires, natural disasters, and unemployment, based on analysis of statistical data and other pertinent information.
- Determine equitable basis for distributing surplus earnings under participating insurance and annuity contracts in mutual companies.
- Determine policy contract provisions for each type of insurance.
- Provide expertise to help financial institutions manage risks and maximize returns associated with investment products or credit offerings.
Skills and knowledge that matter most
Skills
- Judgment and Decision Making4.0/5
- Complex Problem Solving4.0/5
- Systems Evaluation3.9/5
- Systems Analysis3.8/5
- Operations Analysis3.1/5
- Time Management3.0/5
- Social Perceptiveness3.0/5
- Service Orientation3.0/5
Knowledge
- Mathematics4.8/5
- Economics and Accounting4.1/5
- Computers and Electronics3.4/5
- English Language3.1/5
- Administration and Management3.0/5
- Law and Government2.9/5
Importance rated by people working in the job (1 = not important, 5 = extremely important).
Education and preparation
Preparation level 4 of 5 — Considerable preparation. Usually a bachelor's degree and several years of related experience.
Typical entry education (BLS): Bachelor's degree.
Who this job suits
Mostly Conventional
Organising data, details and procedures
Investigative
Ideas, research and solving problems
Enterprising
Leading, persuading and starting things
Based on the Holland (RIASEC) interest profile for this occupation.