I’m not sure what I will end up doing, but I am so happy I chose actuarial science. I have always loved numbers and math. However, I am practical to a fault. I don’t enjoy extremely theoretical math. Throughout my time in college, I am so happy to have been able to learn practical applications for the subject I love.
Here’s why actuarial science is for you too:
Actuarial science always seems to find its way onto the list of best college majors and best career paths. Actuaries enjoy large salaries, job security, and generally great work environments. No day is ever the same. Consulting actuaries normally have many chances to travel.
The opportunities are endless once in the workforce. The risk management field is growing into just about every industry imaginable. Gone are the days of insurance companies being the sole employer of actuaries. Every company encounters risk on a daily basis, and they are increasingly paying attention to it. Thus, odds are you will be able to find a job that suits you within the broad realm of actuarial science.
Even if you take a non-actuarial role mid-career or never actually end up working as an actuary, you will still be better off for pursuing actuarial science. Actuaries build an incredible skill set throughout the process of taking exams. There is no question that the exams build your analytical skills and work ethic. Becoming an actuary is a time-consuming and an expensive proposition. For this reason, it shows great dedication and personal strength. No matter where you end up, you will most likely be more attractive to employers, and odds are you will be better qualified than the average candidate.
Pursuing the actuarial exams is worth it. Using resources like Coaching Actuaries to begin the exam process early and successfully is a huge boost to your resume. You will learn lessons in math, statistics, economics, finance, risk management, and computer science. The ability to solve analytical problems in any discipline is a highly coveted and transferable skill.
If you are considering actuarial science, or even have already begun pursuing it, BeAnActuary.org is a great resource. Here’s a list of the skills they say actuaries should have: extensive and specialized math knowledge; acute analytical, project management, and problem solving skills; a good business sense; solid oral and written communication skills; and strong computer skills. If this description sounds like you, I encourage you to give actuarial science a good look.