Actuarial careers
A relatively large proportion of applied mathematical economics majors (and
a somewhat smaller proportion of economics majors) have
chosen to pursue actuarial careers. Actuarial work involves:
- assessing and managing risks faced by individuals, households,
firms, and the government;
- estimating the expected life span of individuals possessing various
combinations of characteristics;
- determining appropriate payment structures for retirement programs; and
- establishing insurance premiums for various types of insurance.
Actuaries are hired by insurance companies, pension funds, HMOs, and government
agencies.
To become a licensed actuary, it is necessary to successfully pass a series of
actuarial exams. Some students chose to take one or more of these exams before
graduating from college. Many firms hire individuals as "actuarial trainees"
and provide review courses for the actuarial exams.
The following courses are particularly useful for students interested in
pursuing actuarial careers:
Other links about actuarial science:
 The American Risk and Insurance Association
- Useful information and links relating to teaching and research in the areas
of risk, insurance, and risk management.
- The Society of Actuaries
- This site contains extensive information about actuarial exams. Lists of
candidates passing the exams are available as well as information about test
dates. This is a site that should be visited by anyone contemplating a career in
actuarial science.
- Actuarial Students National Association (Canada)
- This association claims to represent most actuarial students in
Canadian universities. Information about the organization and a good collection of related links are available at this site.
- Berry List of Actuarial Resources
- The most extensive list of actuarial resources on the web. This site contains an index of actuarial resources from A (Aids) to W (Worker's comp).
- Balducci's Actuarial Page at the
University of Calgary
- A good collection of information on careers in actuarial science.
- Centre for Actuarial Studies at the University of Melbourne
- A good discussion of actuarial programs and careers.
- D.W. Simpson Actuarial Search
- D.W. Simpson Actuarial Search provides a job placement service for actuaries.
If you have any comments, suggestions, or questions, please contact John Kane at kane@oswego.edu.
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