EducationActuaries need to be educated in mathematics, statistics, and business. Most often actuaries will have an undergraduates in math, stats, business or actuarial science. To be a certified professional in the career, students must take courses in economics, applied statistics, finance, calculus and general business. Education in computer sciences are also useful, as well as writing and public speaking. Being in an internship also helps with learning the career as well.
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AdvancementAdvancements for actuaries mainly depends on exams passed and actual performance on the job. Actuaries who achieve a fellowship status (certification) often overlook other actuaries and give advice to senior managers about financial decisions. Generally actuaries have good chances of being promoted or receiving a higher salary.
What can i do to prepare myself now?Interviewing an actuary or job shadowing one is a great way to learn about the day to day working life and job responsibilities. Interviewing one is a great way to answer questions about the job and anything that is unclear. Job shadowing is good for learning about the kind of work they do and getting a first account experience of the work they do.
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Certification
There are two professional actuary societies leading to a professional career as an actuary. The two societies are the Casualty Actuarial Society(CAS) and the Society of Actuaries(SOA). The CAS certifies actuaries who work in the casualty and property field. Things include automobiles, homeowners', medical malpractice and workers' compensation insurance. SOA certifies actuaries who work in life insurance, health insurance, retirement benefits, investments, and finance. This is the most common certification for actuaries. The main certification to show superiority are the passing of exams. The associate certification for SOA is after five exams and for CAS is after seven exams.
Other Requirements
Actuaries need many special skills to be able to do the job they have. They must be specialized in mathematics, be very analytical, able to manage projects and have good problem solving skills. They must have good sense of business, be good communicators, and good with computers. Actuaries need to be self-motivated, creative, independent but at the same time work well with others, and lastly and possibly most important, ambitious.