Actuary

Quantify Risk: Actuary
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David Andrist

Actuary The Hartford Insurance Company BS Math BYU

“I am a casualty actuary at The Hartford Insurance Company. Casualty actuaries deal with catastrophic or unnatural risks that can occur to people or property. Actuaries use skills in mathematics, economics, finance, probability and statistics, and business to assess the risk of certain events occurring.”

“While I use math every day the most beneficial part of my math background have been my creative thinking and problem solving skills. I enjoy my job and look forward to a new set of challenges each day.”

An actuary is a business professional who deals with the financial impact of risk and uncertainty. Actuaries apply mathematical and statistical theories to solve real business problems. Actuaries assemble and analyze data to estimate the probability and likely cost of an event such as death, sickness, injury, disability, or loss of property. They also address financial questions; including those involving the way a company should invest its resources to maximize its return on investments. "Actuaries are in high demand, and they are highly paid for the services they render."

Low-end Salary: 
$53,100/yr
Median Salary: 
$87,650/yr
High-end Salary: 
$160,000/yr
Education: 

Actuaries need a strong foundation in mathematics, statistics, and general business. They generally have a bachelor’s degree and are required to pass a series of exams in order to become a certified actuary.

Math Required: 

College Algebra Trigonometry Calculus I and II Linear Algebra Probability and Mathematical Statistics Applied statistics Actuarial Mathematics Optional courses in numerical analysis, some training in operations research, substantial training in computer science

When Math Is Used: 

Actuaries assemble and analyze data to estimate the probability and likely cost of an event such as death, sickness, injury, disability, or loss of property. Using their broad knowledge of statistics, finance, and business, actuaries help design insurance policies, pension plans, and other financial strategies in a manner which will help ensure that the plans are maintained on a sound financial basis.

Potential Employers: 

Actuaries are essential to the insurance industry; to other businesses and corporations, including sponsors of pension plans; and to government agencies, such as the Government Actuary’s Department in the UK or the Social Security Administration in the US.

Facts: 

In 2009, a Wall Street Journal survey on the best jobs in the United States listed an actuary as the second best job. In 2006, U.S. News & World Report included actuaries among the 25 Best Professions that it expects will be in great demand in the future.

gannubhai
User offline. Last seen 3 years 30 weeks ago. Offline
Joined: 09/18/2010
Posts:
A math related job? Every

A math related job? Every job's are math related job because you need maths in every work. You need maths even to calculate coinstar percentage. When I was on my high school, I was perfect on maths. Though I had a little problem in Calculus I-II and Actuarial Mathematics, I was first in math subject. Recently, I am working in a huge company and I enjoy my job and look forward to a new set of challenges each day.

yeongshen
User offline. Last seen 3 years 9 weeks ago. Offline
Joined: 02/17/2011
Posts:
Advice NEEDED.

I am currently doing my Pre-U and I am interested in venturing into Actuarial Science. I enjoy maths although it does gives me quite a number of problems at times. Each and every day, all I hear from my friends and seniors are, "Actuarial Science is tough". That's it. How do you really define tough? Is it really tough or people just don't get the concept at times?

tasbiravy
User offline. Last seen 2 years 26 weeks ago. Offline
Joined: 10/23/2011
Posts:
I am currently doing my BS

I am currently doing my BS degree in mathematics with statistics track in California State University Bakersfield. I also do 14 business related course which include Micro, Macro, Financial Acc, Managerial Acc, Marketing, Managament, Marketing management, HRM and etc..

My question was, whether i am going to get a job after my graduation or i have to give my all actuary exam before applying for any job.

Anxiously waiting for your reply,

Ariful Haque

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Salary figures from
the current US Bureau of Labor of Statistics website and represent the
90th percentile.

The most common question students ask math teachers at every level is “When will I use math?” WeUseMath.org is a non-profit website that helps to answer this question. This website describes the importance of mathematics and many rewarding career opportunities available to students who study mathematics.


 

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