What is it like being an actuary and what is the pay like?

what is being an actuary like

I was very keen to become an actuary because i love working out probabilties and statistics but I have been reading over some of the comments and i also want to have a life besides work! I want to be financially secure when i am finished studying but i also want to be able to go out and have some fun! And what. show more I was very keen to become an actuary because i love working out probabilties and statistics but I have been reading over some of the comments and i also want to have a life besides work! I want to be financially secure when i am finished studying but i also want to be able to go out and have some fun!

And what is the salary like (preferably people from South Africa because the exchange rate is different all the time)?

Answers

Best Answer: "Actuary" usually ranks at the top of the list of "most desirable jobs" and it's not because it starts

with the letter "A." Being an actuary pays well, is low-stress and offers growth opportunities, job security and a positive work environment. It is challenging, however. Actuaries use math to predict how future events might affect the finances of their company--usually an insurance firm--so that the company can make financial decisions today.

As an actuary, I make calculations about insurance policies--in my case, life insurance. I decide how much the company needs to keep in reserve in order to pay future benefits. I need to consider a wide range of factors and make some projections. We don't want to use the reserves to buy office supplies, for example. I also have to be certain to follow all the laws that apply when I make those calculations. In fact, I must sign and file statements with the state verifying that we have adequate reserves.

As a manager, I oversee other employees and do product pricing. I help decide, for instance, how much to charge for a new type of insurance.

Source: answers.yahoo.com

Category: Insurance

Similar articles: