Similar careers
Similarity is based on what people in the careers do, what they know, and what they are called. The process of establishing similarity lists is described in this white paper.
An Actuary is a professional who applies mathematical, statistical, and financial theories to assess and manage risk in the insurance, finance, and other industries. They play a critical role in financial planning by analyzing the likelihood of future events and designing creative ways to reduce the likelihood of undesirable events or decrease their impact.
Education: Bachelor's degree
Years in related career: None
On-the-job training: Long-term
Projected Growth: 23.2% (far above average)
Annual job openings: 2,400
Direct AI exposure: 22% of tasks
Potential AI exposure: 85% of tasks
| According to the U.S. Bureau of Labor Statistics, average income (in USD) in 2025 was $130K per year. | ||||
|---|---|---|---|---|
| Bottom 10% | Bottom 25% | Median (average) | Top 25% | Top 10% |
| $79K per year | $98K per year | $130K per year | $171K per year | $215K per year |
| Compared to other careers: Median is $79K above the national average. | ||||
Actuaries typically work in office settings, often at insurance companies, consulting firms, government agencies, or as private consultants. Their work is usually desk-based, involving substantial computer use for data analysis and modeling. The profession requires collaboration with other financial experts and often involves presenting findings to non-technical stakeholders.
Actuaries are vital in the financial landscape, combining deep analytical skills with business acumen to predict and manage risk. Their work is essential in helping insurance companies set premiums, determine reserves, and create profitable insurance products. They use a variety of statistical models and actuarial theories to predict the likelihood of events and the financial impact these events might have.
The role requires strong mathematical skills, expertise in data analysis and modeling, and a thorough understanding of economics and finance. Actuaries must also have excellent communication skills, as they often need to explain complex mathematical concepts to clients and stakeholders who may not have a technical background.
The field of actuarial science is continuously evolving, with new challenges emerging from changes in legislation, economics, and demographics. As such, actuaries must be committed to lifelong learning, staying up to date with new developments and advancements in their field. The profession requires passing a series of rigorous exams, which can be a lengthy process but is integral to career advancement.
Becoming an actuary usually requires a bachelor's degree in actuarial science, mathematics, statistics, or a related field, which takes about 4 years of post-secondary education. Additionally, actuaries must pass a series of professional exams to become certified.
Similarity is based on what people in the careers do, what they know, and what they are called. The process of establishing similarity lists is described in this white paper.
