Mathematics majors have some promising career opportunities working for insurance companies providing risk management along with reporting the financial assets and liabilities in business.
Having an aptitude for computer spreadsheets, statistics and Stochastic systems will be needed to forecast future gains and losses incurred by insurance carriers and financial institutions.
The reason employment growth is high is due to the merging of actuarial science with quantitative analysis which is primarily used in asset or investment management.
Earn high pay as a Finance Manager or Insurance Consultant
Qualified actuaries take a series of exams for several years before becoming fully credentialed.
Financial services and consulting is one of the primary areas that will see demand for students who have completed coursework in economics, applied statistics, and corporate finance.
Actuary Training programs
You will want to apply to a college that has an actuarial science program as well as internship placement services.
To be prepared for employment job seekers or recent graduates need to pass exams given by the Society of Actuaries and the Casualty Actuarial Society.
Once you become certified you will be qualified to work in the areas of :
- Life insurance
- Health benefits
- Retirement
- Property and casualty for automobile and homeowners
- Medical malpractice
- Workers compensation
- Personal injury liability
High starting salaries is what makes this occupation desirable for those who are good with calculations, equations and formulas.
Annual income can be $60,000 to over $150,000 depending on years of experience and what level of examinations you have completed.
College Course Requirements
Academic study from a university is just part of the process you will also need to pass a series of exams.
Most industries rely heavily on technology so job-seekers who have skills in programming languages, such as Visual Basic, SAS, or SQL will be top candidates for employers.
It is also beneficial to know how to develop databases with statistical analysis software.
Employment Opportunities by State
If you are willing to relocate you can work at any state you choose because job openings for acturarial analysts are many. Pension actuary , tax actuary, and health benefits actuary jobs are located in California, Florida, Illinois, Connecticut, Colorado, New Jersey and Tennessee.
Source: Occupational Outlook Handbook, 2010-11 Edition
