This article is for people who like mathematics and who want to become an actuary. I will teach you more about this profession and show you in detail the profession of actuary in order to inform you more about it. This article will answer at all of your questions such as the salary of an actuary, what is an actuary, how to become one and more.
Being an actuary is a tough job. You will spend a lot of time working with numbers and 65% of your time you will be working with people to set goals, review work and research number. You will have to devote a lot of time to your work.
An actuary will gather and analyze facts to judge risk and return to make financial planning decisions in a specific area of expertise. They will also spend a lot of time with number.
During his day he will carry out financial and statistical studies in order to develop contracts.
Most of the time an actuary will work at the headquarters of an insurance company. Actuaries will either work for the government, for financial institutions or insurance companies.
You must have a university degree in mathematics or a business-related field. It will also be necessary to devote a lot of time to study and especially mathematics. You will also have exam to pass full passage of the exams take between five and ten years.
The average salary in Canada for an actuary is $109,370. Of course, the salary may vary depending on the region and the experience you have in this environment.
Have a good understanding of statistics, probability and risk analysis is required. He also needs an excellent business sense with knowledge of finance, accounting, and economics.
When an actuary does his job poorly, it will have a negative impact on the business. But when he does his job well, it makes it possible to assess the risks, costs, and profitability.
In the future we will need an actuary more and more because large companies and pension companies will need precise statistical analysis and cash flow management. So, the chance that actuaries will be replaced in the future are low.
Usually actuaries retire at 65 years old.
In conclusion, to become an actuary you have to be comfortable with numbers and know how to analyze statistics to make financial planning decisions in a specific area of expertise. It is a very hard job that requires a lot of work and perseverance. You need a lot of quality in order to be comfortable in this job. There is a lot of responsibility that company needs from you. Also, the salary of an actuary depends on his experience he has in the profession and in which region he lives.