Being an actuarist can be a quite a challenge. This job in finance is quite lucrative, pays well, is easy to secure and does not require high education or professional qualification from the world of business. It is better positioned since losing the job is also hard after securing employment. The only problem behind it, is that it can be quite dull. These professionals on average earn about $108,658 yearly and have better unemployment rates at 2.3%. These statistics are according to Bloomberg. This research report was from Bankrate.com. It compared 162 degrees and the outcome was that, only 22% of the graduates had supplementary masters or doctors’ degree. Krzystof, in an article, said that being an actuarist is the best job in United States since one gets paid like lawyers and doctors and it’s quite hands-off. Ostaszewski, the director of actuarial programs at Illinois State University, in a report, said that actuarial science is great for persons who are strong in science and math or computer science. He further added that it was highly practical and competitive in the world today.
Being an actuarist means that one can go home as early as 6 pm as compared to some other professions that have longer working hours. The low number of qualified personnel in the field and the affordable cost of education together with a livable wage makes it more a comfortable job. The disadvantageous part of it is that one will have to sit for industry exams while working and may take several years to pass. It requires a lot of study to be competitive and up to-date while still working. The pass-rate is averagely at 60% and on average uncommon to have drop outs. The Actuarial Outpost is a forum full of complaints about tedium and repletion. Some people post on how boring and tiresome their jobs are. This feedback are, however, quite useful since they help in the actual scaling and general feel of the actuarists in the market.
Bankrate.com further compared this profession to other careers such as zoology. It found out that this people earn $112 on average and have a 1.4% unemployment rate. Those studying nuclear energy have an average salary of $109 and unemployment rates of 1.9%. These survey on different specialties show how much salary one expects while in practice and the average rate of unemployment in the market. It serves as a guide and hence before settling on a career, these are some of the factors to put into consideration.
