How Much Does An Actuary Make A Month?

Article Content:
How Much Does An Actuary Make A Month?
What is the job outlook for an actuary?
What education is needed to become an actuary?
Where do actuaries make the most money?

In the insurance business, you can be sure of good money as an actuary the highest-paid professional in the field. The climb up the income ladder is faster than in most other occupations too. 


As an actuary, you'd be an analyst, forecaster, and planner all rolled into one. You might study the frequency of hurricanes, tornadoes, fires, thefts, industrial accidents, explosions, or other chance occurrences. Then you'd tabulate the amount of damage and injury, calculate the probability of their happening again, and recommend the price your company should charge for insuring against these risks. 

Many actuaries move up to top executive positions in the insurance industry, but they normally start out by specializing. Growing fields include medical malpractice, product liability, workers compensation, pollution liability, dental, prepaid legal, and kidnap insurance. 

Whatever your specialty, you'd assemble and analyze statistics in order to calculate probabilities. You'd need to stay informed about economic and social trends, legislative developments, and changes in health care anything that might affect the risks of death, illness, injury, property loss, or the insurance industry as a whole. 


Of America's 21,000 actuaries, more than half work in private insurance companies and most of them in life insurance firms. Employment has been growing recently in rating bureaus, accounting firms, and consulting firms. As a consulting actuary, you might set up pension and welfare plans for private companies, unions, or government agencies. 

Whether you go into life, health, property and liability insurance, or pensions, you'll have to pass a series of nine or ten exams offered by the professional actuarial society in your field. About halfway through the series, you become an Associate; at the end, you've earned the title of Fellow. The entire process generally takes five to ten years, and your career advancement can depend on your progress. 

What is the job outlook for an actuary?

Excellent, with faster than average occupational growth expected. Because the U.S. population is getting older, insurance sales volume is expected to increase in the decades ahead. Competitive rating laws, companies that branch into several forms of coverage, and the development of new kinds of protection also will create actuarial jobs. 

What education is needed to become an actuary?

Bachelor's degree, including a strong math background. Actuarial science, math, and statistics majors preferred. 

Actuary Salary - Is this a High Paying Job?

Competition: 

Moderate, but opportunities will be best if you've passed at least two actuarial exams while still in college. 

Work Style: 

Desk job with a 35- to 40-hour week. 

Where do actuaries make the most money?

Forty percent of all actuaries work in New York, Chicago, Hartford, Philadelphia, or Boston. 

Work Force: 

77 percent male, 23 percent female, 1 percent minorities. 

Part-Time Work Available: 

Rarely.

How to make a lot of money as an actuary?

Pass the exams to become a Fellow; specialize and take a job in Boston (where actuarial earnings are highest).

How Much Does An Actuary Make A Month?

Yearly Salary $122,200
Monthly Salary  $10,100
Weekly Salary $2,550
Hourly Salary  $61

Related Articles:



Comments

Post a Comment

Popular posts from this blog

How Much Does a Dental Hygienist Make in Florida (2021)

Image
How Much Money Do Dental Hygienists Make? Dental Hygienist : Key Features, The Work, Florida Salary in 2021, Prospects  What do dental hygienist do? Dental hygienists work in private offices or for public agencies, providing direct patient care under a dentist’s supervision. Their responsibilities include cleaning teeth, taking X-rays, and instructing patients in the correct methods for maintaining good oral hygiene. They may also present programs on dental care to teach the proper use of toothbrushes and floss, and the relationship between nutrition and oral health.  Dental Hygienist Career in Florida Career changers will find the shortest route of entry into this field is through enrollment in an accredited dental hygiene program. Following graduation, they then must complete the state licensing examination for dental hygienists . For career changers who already have at least two years of college, it may be possible to enroll in the bachelor’s program, thereby increasing the emplo
Read more

Information Clerks: Salary (2021), Working Conditions, Training, Employment and Career

Image
Starting Salary For Information Clerk (2021), Working Conditions, Training, Employment, Career and Nature of Work. EMPLOYMENT OUTLOOK:  Overall employment is predicted to extend much faster than average thanks to the rapid climb of industries like business, professional, and other services. In 2020 over 2.1 million information clerks were employed in the following occupations:  Receptionists and information clerks 1,335,000  Interviewing and new accounts clerks 325,000  Reservation and transportation ticket agents and travel clerks 280,000  Hotel and motel desk clerks 260,000  The jobs should increase from 2,700,000 in 2020 to 3,950,000 in 2030.  NATURE OF WORK:  IInformation clerks gather information from and supply information to the general public . Although duties vary, many information clerks greet customers and other visitors, determine their needs, and either assist them or refer the individuals to the one that can help. Others elicit information from the general public . WORKI
Read more

How Much Money Does a Chef Make in Canada (2021)

Image
How Much Do Chefs Make? Cooks and chefs : Key Features, The Work, Yearly Canada Salary in 2021, Prospects  What do chef do? Cooks and chefs work in restaurants and other food service operations. Depending on the type and size of the operation, a cook's or chefs duties may include preparing the food to be served, supervising the kitchen staff, planning menus, and buying the food supplies. In fine restaurants, their work is of great importance to the success of the operation. In fact many chefs who are skilled at creating new dishes and improving familiar ones have earned fame for both themselves and the restaurants where they work.  How to become a chef? For career changers interested in working at larger restaurants, the surest entry route includes a training program for cooks and chefs . There are a variety of programs (lasting from a few months to two or more years) that are available through trade schools, community colleges, universities, professional associations, and ot
Read more

How Much Does a Paramedic (EMT) Make in Texas (2021)

Image
How Much Money Do EMTs Make? Paramedic: Key Features, The Work, Texas Salary in 2021, Prospects  What do paramedic do? Emergency medical technicians ( EMTs ) provide on the scene emergency treatment for accident victims, people suddenly incapacitated by an illness, and other types of patients. Once EMTs have provided emergency treatments needed to stabilize the patient, they then transport the patient to the hospital and, after reporting their observations and care, transfer responsibility to the emergency department.  Emergency medical technician (EMT) Career in Texas Career changers who want to become paid EMTs must complete mandatory formal training programs. Though programs vary from state to state, they require at least 100 hours of training. In addition, all states require some kind of certification, though requirements vary widely. EMTs may also gain valuable professional recognition by becoming certified as Registered EMT-Ambulance, EMT- Intermediate, or EMT Paramedic .  Pa
Read more

How much do land surveyors make a year in 2021

Image
How much money does a land surveyor make? Land Surveyors: Key Features, The Work, 2021 Yearly Salary, Prospects  What do land surveyors do? Surveyors and their assistants measure and establish legal boundaries of tracts of land, research deeds and help set land valuations, measure building sites, conduct broad scale topographic and geophysical surveys, and prepare maps and reports on their findings. Their work requires good physical condition because surveys frequently involve long hikes over rugged terrain. An ability to make accurate measurements and calculations is also needed because of the legal nature of many surveys.  Land Surveyor Career Surveyors possess highly specialized skills learned through a combination of educational training and extensive on the job training. Furthermore, land surveyors are required to pass state licensing exams (after several years of work experience) before becoming fully certified.  How much does a land surveyor make?   (2021) Entry level positio
Read more

How Much Does a Medical Secretary Make in Ontario (2021)

Image
How Much Money Do Medical Secretaries Make? Medical Secretary : Key Features, The Work, Ontario Salary in 2021, Prospects  What does medical secretary do? Medical Secretaries , who are at the center of communications within a firm, process and transmit information to the staff and to other organizations, as well as perform a wide variety of administrative and clerical duties. Medical Secretaries are employed in organizations of every description, with over half of them being employed by organizations that provide services to the public. These include educational institutions, health facilities, law firms, and the like.  Medical Secretary Career in Ontario Training for medical secretaries , for whom a high school diploma is generally required, varies from a few months' instruction in office practices, shorthand, and typing to one or two year programs that teach a broad range of secretarial skills. For the career changer interested in the shortest route into the field, a receptioni
Read more

How much does a geologist make a year in California?

Image
How much money do geologists make? Geologist : Key Features, The Work, California Salary, Prospects  What do geologist do? Geologists study the structure, composition and history of the earth’s crust. They determine the types and distribution of rocks beneath the earth’s surface, identify and classify rocks and minerals, conduct geological surveys, draw maps, take measurements and record data. Their studies are useful for predicting future geological events, such as earthquakes and volcanic eruptions, for locating natural resources, and for determining the best sites for roads, dams, buildings and other structures. Geologists work both in the field and in laboratory research facilities. Geological technicians assist geologists in their work.  How to become geologist? Career changers must have a bachelor’s degree in geology or a related field to obtain an entry level position as a geologist. Geological technicians generally must have completed specialized training in the field. Advan
Read more

How Much Do Astronomers Make A Month?

Image
Article Content: How Much Do Astronomers Make A Month? What is the job outlook for an astronomer? What education is needed to become an astronomer? Hyperion, one of Saturn's ten moons, "looks like a pockmarked hamburger patty." Another, Phoebe, is thought to have been formed elsewhere in the solar system and "captured later by Saturn."  These are the observations of astronomers , specialists in a tiny science with vast new horizons to explore. Stars and moons are being discovered, college students are operating satellites as class projects, and outer space is the frontier of the future, yet astronomy is far from a growing field. About 6,000 astronomers work in the U.S. today, and tomorrow's growth is expected to be limited.  Astronomers , also called astrophysicists, use math and physics principles to answer questions about the nature of the universe. Some predict that the occupation will disappear as a separate classification in the near future and be con
Read more

How Much Do Agricultural/Biological Scientists Make?

Image
How Much Money Do Agricultural/Biological Scientists Make? Job Market Outlook, Education, Competition and Best Locations They are botanists, embryologists, microbiologists, physiologists, and horticulturalists. They are agronomists who work to improve crop quality and yield by developing new growth methods and controlling pests or disease and ecologists who study the effects of pollution, temperature, or rainfall.  All these specialties fall into the category of agricultural and biological scientis t, a secure career field that now numbers more than 325,000 workers.  The toxicologist is a specialist in sudden demand. The disposal of toxic wastes is being called a critical growth area. Although most chemical companies employ chemists and biologists who understand the dangers of the materials their companies produce, these are not normally the people who handle the waste for disposal.  "By the year 2030, the amount of material going into hazardous- waste dumps is expected to increa
Read more

How Much Do Anthropologists Make A Year?

Image
Article Content: How Much Do Anthropologists Make A Year? What is the job outlook for anthropologists? What education is needed to become an anthropologist? A funny thing happened to this anthropologist on his way to the jungle. He took a job in the big city instead.  Anthropologists have always studied people and the cultures they create: traditions, beliefs, customs, languages, material possessions, social relationships, and value systems. But, instead of traveling to work with primitive cultures in Samoa, today's scientists often look to the subcultures that exist in their own communities.  This work has created a new kind of specialist: urban anthropologist . Choose this career and you might find yourself working with groups as different as drug addicts, business leaders, or a particular ethnic community. You'd examine complex, industrialized societies and the influence of city life on a people and their institutions. Urban anthropology yields practical results. You migh
Read more