Actuaries put a price tag on future risks. Those risks are usually associated with possible financial losses. An actuary uses mathematical skills to define, analyze, and solve business and social problems. Actuaries calculate costs of insurance, pensions, and social programs (e.g., Social Security, Medicare), represented in the premium or taxes paid, and they also estimate the amounts that insurance companies, or pension plans, or social insurance systems, must set aside in reserves to be able to meet their obligations.

Related Skills Logical Thinker Strong numerical computational ability Ability to analyze, interpret data Problem solver Critical thinker Attention to detail and commitment to accuracy Works well in teams Interested in business Being Successful in the Field A bachelor's degree is typically sufficient for entry-level positions. While a graduate degree may be useful, it is not necessary. Pair a strong background in mathematics with serious interest in the business world. Conduct informational interviews with professionals in areas of interest to enhance knowledge and make contacts. Stay informed of new developments and current trends in the field. Gain experience through professional internships and part-time or summer jobs. Develop competencies in a specific area of interest. Curriculum combines mathematics courses with business, economics, computers, and statistics for increased job opportunities. Maintain a high grade point average. Build relationships with faculty for career information, contacts, and letters of recommendation. Join related student professional associations and seek leadership positions. Related Fields Insurance Finance Statistics Data Processing Testing Quality Control Consulting Employers Consulting firms Government Strategies Maintain high G.P.A. Pass at least two professional actuarial examinations by the end of junior year. Gain relevant experience through professional internships, summer, or part-time jobs. Learn about the business of insurance. In particular, learn to communicate mathematical ideas effectively to non-mathematical audiences. Government Social insurance systems State insurance commissioners Employers Federal agencies including teamsSocial Security Administration, Centers for Medicare and Medicaid Services, and possibly others. State agencies: Insurance commissioners Strategies Become familiar with government hiring procedures. Obtain professional actuarial internship or part time work Join related professional organizations. Maintain a high grade point average. Pass at least two professional actuarial examinations.