Actuary.

Project Description

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Overview

Actuaries use statistical formulas and techniques to calculate the probability of events such as death, disability, sickness, unemployment, retirement, and property loss. Actuaries develop formulas to predict how much money an insurance company will pay in claims, which determines the overall cost of insuring a group, business, or individual. They assess the cost of running the business and incorporate the results into the design and evaluation of programs.  (From Vault.com)

Actuaries become certified over the course of time by completing a schedule of certification exams. If you are interested in pursuing actuarial positions, you should consider taking the initial exams, usually the Probability exam, before your senior year. More can be learned at the Society of Actuaries.

Most all of these insurance companies hire Actuaries right out of college, but timing of that recruiting occurs earlier in the school year prior to graduation.  In recent years Bowdoin grads have entered programs offered by Unum, MassMutual, Prudential, Liberty Mutual and others.

Salary Info

According to PayScale, the median entry-level salary for Actuaries is $64,479.

According to Salary.com, the median entry-level salary for Actuary I positions is $66,260.

From the Occupational Outlook Handbook published by the Bureau of Labor, the 2016 Median Salary is $100,610

Organizations and Alumni

A great listing of insurance companies that regularly hire liberal arts grads can be found at Spotlight On Careers, under Business > Insurance. (To access Spotlight on Careers, username is spotlightkey, password is lacn18)

Most all of these insurance companies hire Actuaries right out of college, but timing of that recruiting occurs earlier in the school year prior to graduation.  In recent years Bowdoin grads have entered programs offered by Unum, MassMutual, Prudential, Liberty Mutual and others.

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