Actuary Education

The primary area that actuary education requirement should focus on is preparing an aspiring candidate to manage risks in a better way. As an actuary, you will be an expert in evaluating the probability of future events, design and develop various methods of reducing the probability of undesirable events, and assist in minimizing the impact of different undesirable events that may occur. The actuary education should focus on key areas of actuarial science including mathematics, finance, statistics, accounting, economics, law, demographics, and computing. The educations should ensure that the aspiring candidates get the required knowledge and understanding and hone their skills through study of various subjects including statistical data analysis, principles of insurance and superannuation, principles of actuarial science, science communications, actuarial economics, advanced calculus, practical mathematical financial modeling etc. The knowledge gained through proper education with help an aspiring candidate to carve a career as an actuary.

Actuary Education Requirements:

  • There is a minimum basic education that you need to fulfill in order to apply for higher educational degree. You need to first complete your high school degree.
  • An under graduate program is the basic minimum requirement that organizations requiring an actuary look for. Bachelor of Science (Actuarial Science) is the most appropriate program to enroll into. You can also opt for Associate in Actuarial Science and then follow it up with a Master of Science in Actuarial Science. This will ensure that your career growth opportunities increase multifold.
  • You can also complete a certificate program in Actuarial Science complementing your under graduate program. The certification program is for a period of 2 years and focuses on calculus, multivariable calculus, and probability & statistics.

Actuary Degrees, Courses and Certifications:

To do justice to the role of an actuary, you need to first complete the required education. The following educational requirements are necessary with the certification course being optional:

  • High school degree
  • Bachelor of Science in Actuarial Science
  • Master of Science in Actuarial Science
  • Certificate program in Actuarial Science

Actuary Qualification and Training:

The Under graduate and graduate programs offer an insight into the important aspects of actuarial science and helps in preparing an aspiring actuary to play an important role in various organizations including superannuation funds, insurance companies, banks, other financial organizations or institutions.

Actuary Colleges and Universities:

Actuary Wages and Salaries:

The average salary of an actuary in the US varies from $99,531 to $144,686 annually while the median expected salary is $121,501. The average salary of an actuary can vary according to the organization as well like Mercer offers an average salary of $61,694 while Watson Wyatt offers an average of $104,667.

Category: Accountant Education Requirements

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