Actuaries

Description

Career Cluster:

Finance

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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The data sources for the information displayed here include: O*NET™.

Actuaries

Education

Required Level of Education

• Bachelor's Degree = 51.52%
• First Professional Degree - awarded for completion of a program that: requires at least 2 years of college work before entrance into the program, includes a total of at least 6 academic years of work to complete, and provides all remaining academic requirements to begin practice in a profession = 27.27%
• Post-Baccalaureate Certificate - awarded for completion of an organized program of study; designed for people who have completed a Baccalaureate degree, but do not meet the requirements of academic degrees carrying the title of Master = 15.15%
• Master's Degree = 6.06%

Related Work Experience

• Over 4 years, up to and including 6 years = 27.27%
• None = 18.18%
• Over 2 years, up to and including 4 years = 15.15%
• Over 6 years, up to and including 8 years = 12.12%
• Over 1 year, up to and including 2 years = 6.06%
• Over 6 months, up to and including 1 year = 6.06%
• Over 3 months, up to and including 6 months = 6.06%
• Over 8 years, up to and including 10 years = 3.03%
• Over 10 years = 3.03%
• Over 1 month, up to and including 3 months = 3.03%

On-Site or In-Plant Training

• None = 36.36%
• Up to and including 1 month = 21.21%
• Over 4 years, up to and including 10 years = 15.15%
• Over 1 month, up to and including 3 months = 12.12%
• Over 2 years, up to and including 4 years = 6.06%
• Over 10 years = 3.03%
• Over 1 year, up to and including 2 years = 3.03%
• Over 6 months, up to and including 1 year = 3.03%

On-the-Job Training

• Over 4 years, up to and including 10 years = 33.33%
• Over 6 months, up to and including 1 year = 12.12%
• Over 2 years, up to and including 4 years = 9.09%
• Over 1 year, up to and including 2 years = 9.09%
• Over 3 months, up to and including 6 months = 9.09%
• Anything beyond short demonstration, up to and including 1 month = 9.09%
• None or short demonstration = 9.09%
• Over 1 month, up to and including 3 months = 6.06%
• Over 10 years = 3.03%

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The data sources for the information displayed here include: O*NET™.

Actuaries

Tasks

Core Tasks Include:

• Ascertain premium rates required and cash reserves and liabilities necessary to ensure payment of future benefits.
• Determine or help determine company policy, and explain complex technical matters to company executives, government officials, shareholders, policyholders, or the public.
• Design, review and help administer insurance, annuity and pension plans, determining financial soundness and calculating premiums.
• Analyze statistical information to estimate mortality, accident, sickness, disability, and retirement rates.
• Provide advice to clients on a contract basis, working as a consultant.
• 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 expertise to help financial institutions manage risks and maximize returns associated with investment products or credit offerings.
• 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.
• Testify before public agencies on proposed legislation affecting businesses.
• Determine policy contract provisions for each type of insurance.
• Testify in court as expert witness or to provide legal evidence on matters such as the value of potential lifetime earnings of a person who is disabled or killed in an accident.

Supplemental Tasks Include:

• Explain changes in contract provisions to customers.
• Manage credit and help price corporate security offerings.

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The data sources for the information displayed here include: O*NET™.

Actuaries

Tools and Technology

Tools Include:

• Calculators or accessories (10-key calculators)
• Desktop computers
• Notebook computers
• Personal computers

Technologies Include:

• Analytical or scientific software

• Insightful S-PLUS
• SAS software
• SPSS software
• Statistical software
• Wolfram Research Mathematica

• Compliance software

• Compliance testing software

• Data base user interface and query software

• Business Objects BusinessObjects Desktop Intelligence
• Data entry software
• dBase Plus
• Microsoft Access
• Structured query language SQL

• Development environment software

• Microsoft Visual Basic

• Electronic mail software

• IBM Lotus Notes

• Financial analysis software

• Appraisal software
• ARMON Technologies XLActuary
• Cash flow software
• GGY AXIS
• Insureware ICRFS-ELRF
• Lewis & Ellis LEAPPS
• Milliman Corporate Affinity
• Milliman ReservePro
• Oak Mountain Software AnnuityValue
• PolySystems Asset Delphi
• Pricing software
• SS&C PTS
• Towers Perrin TAS Tillinghast Actuarial Software

• Object oriented data base management software

• Microsoft Visual FoxPro

• Office suite software

• Microsoft Office software

• Presentation software

• Presentation software

• Spreadsheet software

• Microsoft Excel
• Spreadsheet software

• Word processing software

• Microsoft Word
• Word processing software

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The data sources for the information displayed here include: O*NET™.

Actuaries

Special Requirements

To become an actuary you need to meet the following requirements:

EDUCATIONAL REQUIREMENTS:
Applicants for beginning actuarial jobs usually have a bachelor’s degree in mathematics, actuarial science, statistics, or a business related discipline, such as economics, finance, or accounting. It is important to also have some educational background in economics, accounting, finance or insurance.
- Some companies do not specify a bachelor’s degree in a particular major, provided that the applicant has a working knowledge of mathematics, including calculus, probability, and statistics.
- Computer skills such as knowledge of :
   •   Visual Basic
   •   Developing and using spreadsheets
   •   Developing and using databases

 

EXAMS
- In order to obtain professional status in a specialty you must pass a series of exams from one of the following professional societies: 

- Society of Actuaries (SOA) - administers a series of actuarial exams for life and health insurance, pension, and finance and investment fields.

Your application(s) must be received on or before April 1 for the Spring session, and September 24 for the Fall session. Applications received after the deadline will not be accepted. Please be aware that it takes approximately 10 days for your application to arrive by regular mail. Contact: for more information.

RENEWAL:
An Enrolled Actuary’s enrollment to practice is renewable every three years. To qualify for renewal of enrollment an Enrolled Actuary must certify that he/she has satisfied the continuing professional education (CPE) requirements specified in the Joint Board Regulations. In addition, an Enrolled Actuary must submit an application for renewal of enrollment and a filing fee of $25.00. Contact the Joint Board for the Enrollment of Actuaries for application information.

Required Fees:

Course Fees for Fall 2006
Course	Fee
Exam P	$175.00
Exam P±± (for limited paper and pencil centers)	$100.00
Exam FM±±	$150.00
Exam M	$375.00
Exam M Student Fee	$300.00
Exam C±±	$375.00
Exam C Student Fee±±	$300.00
VEE±±± (Candidate Credit) per topic	$50.00
Fundamentals of Actuarial Practice (FAP) Standard Fee (Modules 1-8 and 2 Exams)	$2,100.00
Fundamentals of Actuarial Practice (FAP) Conversion Fee (Modules 1-8 and 1 Exam) ±	$1,400.00
Course 7 Pre-test	$175.00
Course 7 Seminar	$1,150.00
Course 8   Finance and Enterprise Risk Management Health, Group Life and Managed Care Individual Insurance (U.S. and Canada) Investments	$975.00
Course 8   Retirement Benefits (U.S. and Canada) - Comprehensive Segment	$720.00
Course 8   Retirement Benefits - Pension Funding Segment	$255.00
EA-2, Segment A	$230.00
Professional Development ( Filing Fee)	$175.00

All amounts in U.S. dollars. 
^±±Exams P, FM and C are identical to the CAS Exams 1,2 and 4 respectively.

^±±±If applying for two VEE topics simultaneously, the application fee will be $75.00. If applying for three VEE topics simultaneously, the application fee will be $100.00.

^±The FAP conversion fee applies to candidates who need only FAP Modules 1-5 and FAP Exam #1 OR FAP Modules 6-8 and FAP Exam #2.
 

Student fees are available only to candidates currently enrolled in full-time university study programs.

Reduced examination fees are available to qualified candidates in eligible countries.
Please see the SOA Web site at http://www.soa.org or contact the Manager of
Global Initiatives at .

Fees should be remitted in U.S. funds (or equivalent) by check, money order, American Express, MasterCard or Visa. Please note that payment in non-U.S. currency may slightly delay the processing of the application. All outstanding exam fees and administrative fees must be paid in full prior to enrollment in future exams.

For More Information, Contact:

Society Of Actuaries (SOA)
475 North Martingale, Suite 600
Schaumburg, Illinois 60173
Phone: 847.706.3500
Fax: 847.706.3599
http://www.soa.org/


Casualty Actuarial Society (CAS)
1100 N. Glebe Rd., Suite 600
Arlington, VA 22201
Phone: 703.276.3100
Fax: 703.276.3108
http://www.casact.org/

Joint Board For The Enrollment Of Actuaries
Internal Revenue Service
SE: OPR
111 Constitution Avenue, NW
Washington, DC 20224
Phone: 202.622.8229
Fax: 202.622.8300
http://www.irs.gov/taxpros/actuaries

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The data sources for the information displayed here include: Virginia Career VIEW Research.

Actuaries

Internships

Anthem Blue Cross and Blue Shield
2221 Edward Holland
Richmond VA 23230
http://www.anthem.com

Acturial Internship Program

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New York Life Insurance Company
51 Madison Avenue
New York, New York 10010
Phone: 212-576-4553
http://www.newyorklife.com/careers

The Summer Actuarial Internship Program is an integrated program which combines relevant work experience with a series of actuarial classes and presentations. The program blends in a number of social events to make sure the interns fully enjoy their summer experience.

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The data sources for the information displayed here include: Virginia Career VIEW Research.

Actuaries

Additional Resources

Career information on actuaries specializing in pensions is available from:

American Society of Pension Actuaries
4245 N. Fairfax Dr.
Suite 750
Arlington, VA 22203
http://www.aspa.org

For information about actuarial careers in life and health insurance, employee benefits and pensions, and finance and investments, contact:

Society of Actuaries (SOA)
475 N. Martingale Rd.
Suite 800
Schaumburg, IL 60173-2226
http://www.soa.org

For information about actuarial careers in property and casualty insurance, contact:

Casualty Actuarial Society (CAS)
1100 N. Glebe Rd.
Suite 600
Arlington, VA 22201
http://www.casact.org

The SOA and CAS jointly sponsor a Web site for those interested in pursuing an actuarial career.
http://www.BeAnActuary.org

For general facts about actuarial careers, contact:

American Academy of Actuaries
1100 17th St. NW.
7th Floor
Washington, DC 20036
http://www.actuary.org/

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The data sources for the information displayed here include: Virginia Career VIEW Research.

Actuaries

Knowledge

%	Subject	Description
99.25	Mathematics	Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
77.25	Economics and Accounting	Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
72.00	English Language	Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
72.00	Computers and Electronics	Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
59.00	Law and Government	Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
56.75	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.

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The data sources for the information displayed here include: O*NET™.

Actuaries

Skills

%	Subject	Description
84.50	Mathematics	Using mathematics to solve problems.
81.25	Critical Thinking	Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
81.25	Judgment and Decision Making	Considering the relative costs and benefits of potential actions to choose the most appropriate one.
75.00	Reading Comprehension	Understanding written sentences and paragraphs in work related documents.
75.00	Complex Problem Solving	Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
72.00	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.
72.00	Systems Analysis	Determining how a system should work and how changes in conditions, operations, and the environment will affect outcomes.
68.75	Speaking	Talking to others to convey information effectively.
68.75	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.
59.50	Active Learning	Understanding the implications of new information for both current and future problem-solving and decision-making.
59.50	Learning Strategies	Selecting and using training/instructional methods and procedures appropriate for the situation when learning or teaching new things.
56.25	Management of Financial Resources	Determining how money will be spent to get the work done, and accounting for these expenditures.
56.25	Operations Analysis	Analyzing needs and product requirements to create a design.
56.25	Writing	Communicating effectively in writing as appropriate for the needs of the audience.
56.25	Social Perceptiveness	Being aware of others' reactions and understanding why they react as they do.
53.00	Coordination	Adjusting actions in relation to others' actions.
53.00	Monitoring	Monitoring/Assessing performance of yourself, other individuals, or organizations to make improvements or take corrective action.
50.00	Persuasion	Persuading others to change their minds or behavior.
50.00	Time Management	Managing one's own time and the time of others.

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The data sources for the information displayed here include: O*NET™.

Actuaries

Abilities

%	Subject	Description
87.50	Mathematical Reasoning	The ability to choose the right mathematical methods or formulas to solve a problem.
81.25	Number Facility	The ability to add, subtract, multiply, or divide quickly and correctly.
78.00	Deductive Reasoning	The ability to apply general rules to specific problems to produce answers that make sense.
75.00	Oral Expression	The ability to communicate information and ideas in speaking so others will understand.
75.00	Inductive Reasoning	The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
72.00	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 there is a problem.
72.00	Near Vision	The ability to see details at close range (within a few feet of the observer).
72.00	Written Comprehension	The ability to read and understand information and ideas presented in writing.
68.75	Oral Comprehension	The ability to listen to and understand information and ideas presented through spoken words and sentences.
65.50	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).
65.50	Category Flexibility	The ability to generate or use different sets of rules for combining or grouping things in different ways.
62.50	Speech Clarity	The ability to speak clearly so others can understand you.
62.50	Selective Attention	The ability to concentrate on a task over a period of time without being distracted.
62.50	Written Expression	The ability to communicate information and ideas in writing so others will understand.
56.25	Flexibility of Closure	The ability to identify or detect a known pattern (a figure, object, word, or sound) that is hidden in other distracting material.
56.25	Speech Recognition	The ability to identify and understand the speech of another person.
56.25	Fluency of Ideas	The ability to come up with a number of ideas about a topic (the number of ideas is important, not their quality, correctness, or creativity).
53.00	Originality	The ability to come up with unusual or clever ideas about a given topic or situation, or to develop creative ways to solve a problem.
50.00	Perceptual Speed	The ability to quickly and accurately compare similarities and differences among sets of letters, numbers, objects, pictures, or patterns. The things to be compared may be presented at the same time or one after the other. This ability also includes comparing a presented object with a remembered object.

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The data sources for the information displayed here include: O*NET™.

Actuaries

Work Activities

%	Subject	Description
97.00	Analyzing Data or Information	Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
94.75	Getting Information	Observing, receiving, and otherwise obtaining information from all relevant sources.
94.00	Interacting With Computers	Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
93.25	Making Decisions and Solving Problems	Analyzing information and evaluating results to choose the best solution and solve problems.
91.00	Processing Information	Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.
88.75	Interpreting the Meaning of Information for Others	Translating or explaining what information means and how it can be used.
85.25	Communicating with Supervisors, Peers, or Subordinates	Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.
82.50	Updating and Using Relevant Knowledge	Keeping up-to-date technically and applying new knowledge to your job.
80.25	Evaluating Information to Determine Compliance with Standards	Using relevant information and individual judgment to determine whether events or processes comply with laws, regulations, or standards.
77.25	Thinking Creatively	Developing, designing, or creating new applications, ideas, relationships, systems, or products, including artistic contributions.
71.25	Provide Consultation and Advice to Others	Providing guidance and expert advice to management or other groups on technical, systems-, or process-related topics.
69.75	Establishing and Maintaining Interpersonal Relationships	Developing constructive and cooperative working relationships with others, and maintaining them over time.
69.50	Identifying Objects, Actions, and Events	Identifying information by categorizing, estimating, recognizing differences or similarities, and detecting changes in circumstances or events.
69.00	Developing Objectives and Strategies	Establishing long-range objectives and specifying the strategies and actions to achieve them.
68.25	Organizing, Planning, and Prioritizing Work	Developing specific goals and plans to prioritize, organize, and accomplish your work.
66.75	Communicating with Persons Outside Organization	Communicating with people outside the organization, representing the organization to customers, the public, government, and other external sources. This information can be exchanged in person, in writing, or by telephone or e-mail.
66.00	Guiding, Directing, and Motivating Subordinates	Providing guidance and direction to subordinates, including setting performance standards and monitoring performance.
63.75	Estimating the Quantifiable Characteristics of Products, Events, or Information	Estimating sizes, distances, and quantities; or determining time, costs, resources, or materials needed to perform a work activity.
60.50	Documenting/Recording Information	Entering, transcribing, recording, storing, or maintaining information in written or electronic/magnetic form.
59.75	Coaching and Developing Others	Identifying the developmental needs of others and coaching, mentoring, or otherwise helping others to improve their knowledge or skills.
55.25	Training and Teaching Others	Identifying the educational needs of others, developing formal educational or training programs or classes, and teaching or instructing others.
54.75	Developing and Building Teams	Encouraging and building mutual trust, respect, and cooperation among team members.
54.50	Coordinating the Work and Activities of Others	Getting members of a group to work together to accomplish tasks.
52.25	Scheduling Work and Activities	Scheduling events, programs, and activities, as well as the work of others.

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The data sources for the information displayed here include: O*NET™.

Actuaries

Work Styles

%	Subject	Description
96.25	Analytical Thinking	Job requires analyzing information and using logic to address work-related issues and problems.
92.50	Integrity	Job requires being honest and ethical.
91.00	Attention to Detail	Job requires being careful about detail and thorough in completing work tasks.
87.00	Dependability	Job requires being reliable, responsible, and dependable, and fulfilling obligations.
82.50	Achievement/Effort	Job requires establishing and maintaining personally challenging achievement goals and exerting effort toward mastering tasks.
81.75	Initiative	Job requires a willingness to take on responsibilities and challenges.
79.50	Persistence	Job requires persistence in the face of obstacles.
70.50	Leadership	Job requires a willingness to lead, take charge, and offer opinions and direction.
69.75	Cooperation	Job requires being pleasant with others on the job and displaying a good-natured, cooperative attitude.
69.00	Adaptability/Flexibility	Job requires being open to change (positive or negative) and to considerable variety in the workplace.
66.00	Independence	Job requires developing one's own ways of doing things, guiding oneself with little or no supervision, and depending on oneself to get things done.
63.75	Stress Tolerance	Job requires accepting criticism and dealing calmly and effectively with high stress situations.
63.00	Innovation	Job requires creativity and alternative thinking to develop new ideas for and answers to work-related problems.
57.50	Self Control	Job requires maintaining composure, keeping emotions in check, controlling anger, and avoiding aggressive behavior, even in very difficult situations.

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The data sources for the information displayed here include: O*NET™.

Actuaries

Work Values

%	Subject	Description
66.67	Working Conditions	Occupations that satisfy this work value offer job security and good working conditions. Corresponding needs are Activity, Compensation, Independence, Security, Variety and Working Conditions.
61.17	Achievement	Occupations that satisfy this work value are results oriented and allow employees to use their strongest abilities, giving them a feeling of accomplishment. Corresponding needs are Ability Utilization and Achievement.
61.17	Independence	Occupations that satisfy this work value allow employees to work on their own and make decisions. Corresponding needs are Creativity, Responsibility and Autonomy.
55.50	Recognition	Occupations that satisfy this work value offer advancement, potential for leadership, and are often considered prestigious. Corresponding needs are Advancement, Authority, Recognition and Social Status.
55.50	Support	Occupations that satisfy this work value offer supportive management that stands behind employees. Corresponding needs are Company Policies, Supervision: Human Relations and Supervision: Technical.

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The data sources for the information displayed here include: O*NET™.

Actuaries

Work Context

%	Subject	Description
100.00	Electronic Mail	How often do you use electronic mail in this job?
96.40	Telephone	How often do you have telephone conversations in this job?
95.80	Face-to-Face Discussions	How often do you have to have face-to-face discussions with individuals or teams in this job?
95.80	Spend Time Sitting	How much does this job require sitting?
94.60	Indoors, Environmentally Controlled	How often does this job require working indoors in environmentally controlled conditions?
91.60	Importance of Being Exact or Accurate	How important is being very exact or highly accurate in performing this job?
89.60	Impact of Decisions on Co-workers or Company Results	What results do your decisions usually have on other people or the image or reputation or financial resources of your employer?
84.80	Freedom to Make Decisions	How much decision making freedom, without supervision, does the job offer?
83.00	Structured versus Unstructured Work	To what extent is this job structured for the worker, rather than allowing the worker to determine tasks, priorities, and goals?
80.00	Work With Work Group or Team	How important is it to work with others in a group or team in this job?
77.60	Frequency of Decision Making	How frequently is the worker required to make decisions that affect other people, the financial resources, and/or the image and reputation of the organization?
77.00	Letters and Memos	How often does the job require written letters and memos?
75.80	Contact With Others	How much does this job require the worker to be in contact with others (face-to-face, by telephone, or otherwise) in order to perform it?
74.00	Level of Competition	To what extent does this job require the worker to compete or to be aware of competitive pressures?
72.80	Time Pressure	How often does this job require the worker to meet strict deadlines?
66.60	Responsibility for Outcomes and Results	How responsible is the worker for work outcomes and results of other workers?
64.80	Coordinate or Lead Others	How important is it to coordinate or lead others in accomplishing work activities in this job?
64.80	Consequence of Error	How serious would the result usually be if the worker made a mistake that was not readily correctable?
59.40	Degree of Automation	How automated is the job?
57.00	Frequency of Conflict Situations	How often are there conflict situations the employee has to face in this job?
54.60	Importance of Repeating Same Tasks	How important is repeating the same physical activities (e.g., key entry) or mental activities (e.g., checking entries in a ledger) over and over, without stopping, to performing this job?

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The data sources for the information displayed here include: O*NET™.

Actuaries

Job Zone Four: Considerable Preparation Needed

• Overall Experience
  • A considerable amount of work-related skill, knowledge, or experience is needed for these occupations. For example, an accountant must complete four years of college and work for several years in accounting to be considered qualified.
• Job Training
  • Employees in these occupations usually need several years of work-related experience, on-the-job training, and/or vocational training.
• Examples
  • Many of these occupations involve coordinating, supervising, managing, or training others. Examples include accountants, sales managers, database administrators, teachers, chemists, art directors, and cost estimators.
• Education
  • Most of these occupations require a four-year bachelor's degree, but some do not.

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The data sources for the information displayed here include: O*NET™.

Actuaries

Earnings Benefits*

Region	Entry Level	Median	Experienced
United States	$58,080.00	$96,700.00	$136,110.00
Virginia	No Data	No Data	No Data
Region	Entry Level	Median	Experienced
Bay Consortium	No Data	No Data	No Data
Capital Region Workforce Partnership	$59,223.00	$95,889.00	$140,303.00
Central VA/Region2000	No Data	No Data	No Data
Crater Area	No Data	No Data	No Data
Greater Peninsula	No Data	No Data	No Data
Hampton Roads	No Data	No Data	No Data
New River/Mt. Rogers	No Data	No Data	No Data
Northern Virginia and Alexandria/Arlington	$66,662.00	$79,804.00	$112,767.00
Piedmont Workforce	No Data	No Data	No Data
Shenandoah Valley	No Data	No Data	No Data
South Central	No Data	No Data	No Data
Southwestern Virginia	No Data	No Data	No Data
West Piedmont	No Data	No Data	No Data
Western Virginia	No Data	No Data	No Data

* Earnings Calculations:

 Regional Earnings:
   Entry = Annual mean of the lower 1/3 wage distribution;
   Experienced = Annual mean of the upper 2/3 wage distribution.

 National and State Earnings:
   Entry = Annual 10th percentile wage;
   Experienced = Annual 75th percentile wage.

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The data sources for the information displayed here include: US Department of Labor (BLS); Virginia Workforce Connection.

Actuaries

Employment Projections

National	2012	2022	% Change
United States	24,300	30,600	+ 26.1%
State	2012	2022	% Change
Virginia	0	0	+ 0.0%
Region	2012	2022	% Change
Bay Consortium	0	0	+ 0.0%
Capital Region Workforce Partnership	221	286	+ 29.4%
Central VA/Region2000	0	0	+ 0.0%
Crater Area	0	0	+ 0.0%
Greater Peninsula	No Data	No Data	No Data
Hampton Roads	0	0	+ 0.0%
New River/Mt. Rogers	0	0	+ 0.0%
Northern Virginia and Alexandria/Arlington	0	0	+ 0.0%
Piedmont Workforce	No Data	No Data	No Data
Shenandoah Valley	0	0	+ 0.0%
South Central	No Data	No Data	No Data
Southwestern Virginia	No Data	No Data	No Data
West Piedmont	No Data	No Data	No Data
Western Virginia	0	0	+ 0.0%

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The data sources for the information displayed here include: US Department of Labor (BLS); Virginia Workforce Connection.

Actuaries

Related Occupations

Related Occupations

• Cost Estimators
• Accountants
• Assessors
• Credit Analysts
• Financial Analysts
• Insurance Underwriters
• Tax Preparers
• Statisticians
• Procurement Clerks

 

Careers in Insurance Services Pathway:

• Claims Adjusters, Examiners, and Investigators
• Claims Examiners, Property and Casualty Insurance
• Insurance Adjusters, Examiners, and Investigators
• Insurance Appraisers, Auto Damage
• Insurance Underwriters
• Actuaries
• Insurance Sales Agents
• Insurance Claims and Policy Processing Clerks
• Insurance Claims Clerks
• Insurance Policy Processing Clerks
• Office Machine Operators, Except Computer
• Proofreaders and Copy Markers

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The data sources for the information displayed here include: O*NET™.

Actuaries

View Videos

The following videos are available for this occupation:

• Finance (6.38 Mb)
• Actuaries (3.88 Mb)



Macromedia Flash is required for viewing the videos. If you do not have the Flash plugin, it is freely available for download.

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The data sources for the information displayed here include: New York State Department of Labor; New Jersey Department of Labor; California Occupational Information Coordinating Committee.

Actuaries

Proficiency Ratings

These proficiencies are scored on a scale from 1 to 5 with 1 being not
important to the job and 5 being extremely important to the job.

Proficiency	Rating
Analyzing Data or Information	5.0
Getting Information	5.0
Interacting With Computers	5.0
Making Decisions and Solving Problems	4.5
Processing Information	4.5
Interpreting the Meaning of Information for Others	4.5
Communicating with Supervisors, Peers, or Subordinates	4.5
Updating and Using Relevant Knowledge	4.5
Evaluating Information to Determine Compliance with Standards	4.0
Thinking Creatively	4.0
Provide Consultation and Advice to Others	4.0
Establishing and Maintaining Interpersonal Relationships	4.0
Identifying Objects, Actions, and Events	4.0
Developing Objectives and Strategies	4.0
Organizing, Planning, and Prioritizing Work	3.5
Communicating with Persons Outside Organization	3.5
Guiding, Directing, and Motivating Subordinates	3.5
Estimating the Quantifiable Characteristics of Products, Events, or Information	3.5
Documenting/Recording Information	3.5
Coaching and Developing Others	3.5
Training and Teaching Others	3.0
Developing and Building Teams	3.0
Coordinating the Work and Activities of Others	3.0
Scheduling Work and Activities	3.0
Staffing Organizational Units	3.0
Resolving Conflicts and Negotiating with Others	3.0
Monitor Processes, Materials, or Surroundings	3.0
Selling or Influencing Others	3.0
Monitoring and Controlling Resources	3.0
Judging the Qualities of Things, Services, or People	3.0
Performing Administrative Activities	2.0
Performing for or Working Directly with the Public	2.0
Assisting and Caring for Others	1.5
Inspecting Equipment, Structures, or Material	1.5
Repairing and Maintaining Electronic Equipment	1.0
Drafting, Laying Out, and Specifying Technical Devices, Parts, and Equipment	1.0
Handling and Moving Objects	1.0
Controlling Machines and Processes	1.0
Performing General Physical Activities	1.0
Operating Vehicles, Mechanized Devices, or Equipment	1.0
Repairing and Maintaining Mechanical Equipment	1.0

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The data sources for the information displayed here include: O*NET™.

Actuaries

Titles

• Actuarial Analyst
• Actuarial Assistant
• Actuarial Associate
• Actuarial Consultant
• Actuarial Mathematician
• Actuary
• Consulting Actuary
• Health Actuary
• Insurance Actuary
• Pricing Actuary
• Pricing Analyst
• Product Development Actuary

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The data sources for the information displayed here include: O*NET™.

Actuaries

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The data sources for the information displayed here include: O*NET™.