Once again in 2016, actuary has been recognized as a top job, as reported in publications such as Money Magazine and Forbes. What is it about the actuarial profession that garners so much positive press? It has to do with high pay, low stress, and exams.
Actuaries are listed as earning an average annual salary of $115,000 (based on figures from 2015), but surveys conducted by actuarial recruiting firms show that salaries can rise to an average high of $489,00 for actuaries with credentials awarded by the Casualty Actuarial Society (CAS) and 20+ years of experience.
Last year not only was actuary named best job but also one of the highest paying jobs with low stress. This is due in large part to the good balance between work and personal life that the profession provides. Most companies provide paid time off for actuaries to study for their credentialing exams. Some even encourage actuaries to create office study groups.
The fact that the actuarial profession is based on credentialing exams puts control of your career directly into your hands. Advancing is a combination of gaining experience and earning actuarial designations through exams. As Rick Gorvett, the CAS Staff Actuary, said in a recent Tweetchat, “actuarial designations are essentially their OWN graduate degrees!”
CAS Student Central members will have an edge starting their actuarial career, with access to resources such as skill-building tips, free webinars on how to grow professionally and stay up-to-date on the profession, networking events to help you connect with actuarial professionals, and free practice exams.
With the rise of disruptive technology such as big data, driverless cars, and drones, more industries will look to actuaries for their expertise, ensuring the profession continues to rank as a top job.