Numbers, statistics, mathematics, calculations all of these are a daily part of the job of an actuary. They have to do a lot of predictions but not mumbo-jumbo predictions that you might be thinking. Their predictions are related to financial risks. It was also believed for a long time that actuaries are the highest paid individual working in corporate. See if it is true by going through the actuary job description, we have provided for your read.
Actuaries are the experts who calculate financial risk on businesses. They have work with numbers and prediction all day long, but do not write off this profession as boring. They have some the best brains on the planet and the financial advice they provide is extremely sound.
There are a very few actuaries in the world. The reason behind it is one requires exceptional math skills and has to clear some exams to become an actuary. They are less in number and more in demand. Hence, they are some of the highest paid salaried individuals.
Most of them are employed in the insurance sector. Their job is to predict insurance risks and they also make prediction for the company that which age group will see deaths and hence, money will have to be paid more in that age bracket. This may sound a little odd to predict deaths, but their predictions are always right. They use a lot of mathematical and statistical data to make the predictions and they are usually right. All major insurance companies have actuaries doing financial risk prediction for them.
The education required to become an actuary is extremely expensive, but it is all worth it once they clear the exam. There are only few actuaries in the world; hence, finding a job is not at all difficult. To know more about this profession, read the actuary job description given in detail below.
Duties and Responsibilities of an Actuary
Education Required by an Actuary
Actuaries can occupy managerial positions after a certain period of experience. As is it, they are paid extremely well and their salary keeps increasing substantially.