Training, Other Qualifications, and Advancement:
A good educational background for a beginning job in a large life or casualty company is a bachelor's degree in a mathematics or businessrelated discipline, such as actuarial science, mathematics, statistics, economics, finance, or accounting. Some companies hire applicants with a liberal arts major, provided the applicant has a working knowledge of mathematics, including calculus, probability, and statistics, and has demonstrated this ability by passing at least the beginning actuarial exams required for professional designation. Courses in accounting, computer science, and insurance also are useful. Companies increasingly prefer wellrounded individuals who, in addition to a strong technical background, have some training in liberal arts and business. Good communication and interpersonal skills are important, particularly for prospective consulting actuaries. Although only about 55 colleges and universities offer an actuarial science program, hundreds of schools offer a degree in mathematics or statistics.

Job Outlook:
Employment of actuaries is expected to grow faster than the average for all occupations through the year 2005. There will be approximately 19,000 actuaries by 2005. College graduates who have passed at least two actuarial examinations while still in school, have a strong mathematical and statistical background and strong communication and problemsolving skills, and have gained some practical experience by completing an internship should have the best prospects. Employment growth of consulting actuaries is expected to be faster than growth in life insurance companies, traditionally the major employer of actuaries. As companies seek to boost profitability by streamlining operations, some actuarial departments may be cut back or eliminated completely. Insurance companies may increasingly turn to consultants to provide actuarial services formerly performed inhouse.

Sources of Additional Information:

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