Actuary

Welcome to The 2011 Hot Jobs Guide

Why It’s Hot:

Actuaries are expected to see well above average job growth of 21% over the next 10 years. The demand for actuary services in the healthcare and consulting fields should drive this job growth as employment by the

insurance industry holds steady. With a median salary of nearly $90,000, actuary ranks among the highest professions, especially those that do not require a professional degree.

• What You’ll Do:

An actuary collects financial and statistical data to determine the risk of events occurring. After providing a statistical analysis, an actuary will help a client (whether a business or individual) determine how to minimize the risk. The insurance industry requires actuaries to help build policies and set rates for policyholders. An actuary may also find employment in the financial sector and the government. At the present, the growth outlook for actuaries is positive. The need for actuaries is expected to increase by 21% between 2008 and 2018. This is a higher than average rate compared to other careers. Most actuaries will be employed by the insurance industry and consulting firms, with a small number taking government jobs. However, pension actuaries will decline as retirement benefits move away from defined benefits towards investment retirement funds (such as 401k plans) or no retirement benefits whatsoever.