Actuaries

As people here are usually very well connected, I was just wondering if anybody knows any actuaries (any kind, but specifiy ) and if they have done well for themselves?
I do know a couple people that graduated from ivy leagues who are taking tests, but haven't gotten anywhere yet.
I'm thinking of taking the first two tests soon, but as a freshman in college I have time

 

I dunno, seems like about the most boring career ever......Jack Nicholson made a movie that touched on the career a few years back.

 

I would assume that's a very boring job.

 

True, fully certified actuaries are few and far between...and make reaosnable bucks. Their analyses drive the entire insurance industry, as well as other industries interested in risk management.

http://www.actuary.org/


Compensation
According to the U.S. Bureau of Labor Statistics, actuaries earned an AVERAGE of $91,810 in 2006.

 

Full-blown top-notch Actuaries with MANY years of experience CAN make a lot of money - as long as you are
pretty much perfect - and MAKE the company money. (And not COST the company money, or business)

The problem you will find is a bunch of them are contractors - the GOOD ones are - and they can make a ton of money.
I'm talking about folks with 25+ years of experience across several lines of business. Once an Actuary sets up the tables, they are not needed until they need to recalculate Premiums...
Not all companies are like the Insurance companies I worked for, and most companies DO have full-time Actuaries, but I can tell you in the Midwest the Actuaries I know make 75K +/-.

Oh - the ones I know all worked in Health Insurance, and some in Life Insurance.

Don't put a lot of credence in the USBLS earnings - I know few people that make within 20% of what they say is 'average' for any particular industry.

PS - the statistics made up by the USBLS must be contrived by some bad Actuaries (LOL)

 

For somebody who went to the wrong school, you nailed it.

Dale

 

If you like sitting at a desk all day crunching numbers, it's fine.
But anymore, that's only part of it. They also want you to help develop new (insurance) products to sell, so
you are also part-Marketing. You develop a product AND you get to price it.

 

Oh, I understand. I even own a very small insurance company. But, and this is a big but, I would never let an actuary have access to my checkbook.

Dale

 

They don't.
They just try to think up new s*** to push.
At least (some of) the ones I know do.
And if the product sells - and is priced right - they make a nice bonus.

 

thanks for the responses
i've read many places that actuaries make good money seeing that they complete a lot of the tests/get fellowship, etc
and the avg salaries probably include areas where cost of living is much lower/higher
From actuarialoutpost surveys and reading how a lot of them make 250k/yr+ I still haven't seen an actuary on this site yet Mostly consultants/business owners on here

 

Bob Lebenson has an Actuary Firm in Vegas...

Toss him a PM, he always put me to sleep when he spoke about his work... but im sure you will find it interesting... (kidding Bob!...well sort of... lol )

Bobleb
http://www.ferrarichat.com/forum/member.php?u=5656

 

Are you sure you want to be an actuary?

There is only a 38.482% chance of making within 2 standard deviations of $95,234 per annum!



Just kidding (and badly) - cool line of work to get into if you have the mindset for that sort of thing. That or counting cards in Vegas. Either one

 

I was thinking the Lottery myself...... odds of certain numbers to hit.....