Is being an actuary tough?

When you learn about a career as an actuary, it’s common to hear all the great benefits of it. It pays well, it’s low stress, and it’s a mentally stimulating and challenging career. But the disadvantages of the career aren’t talked about as frequently. Honestly, there aren’t many.

Is actuary the hardest degree?

How hard is actuarial science? Majoring in actuarial science is challenging. On a scale from 1-10 (1 being the easiest), I’d say it’s around a 7 or 8. It requires that you have fairly good math skills and that you really enjoy it.

Is an actuary a stressful job?

Typically, no. If you google the actuarial profession, you will notice that many rankings praise the actuarial profession for its less stressful environment. I believe there are a few key factors that contribute to that view: Actuaries typically work rather normal hours.

Are actuaries respected?

The analysis that you do as an actuary will influence key business decisions within whatever company you work for. Your opinion and expertise will be greatly valued by others within your organization, and your work can have an instrumental impact on business results. Actuarial science is a highly-respected profession.

What’s it like being an actuary?

An actuary uses lots of math, probability, and statistics all day long. I love that about being an actuary. That’s one of the main things that attracted me to the career. If so, that’s great because in a career as an actuary you’ll be facing new challenges, learning and problem solving almost every day too.

How hard is it to become an actuary?

It certainly depends on the person. Actuarial exams can be very hard for some individuals. It is vital to pass them to make progress in the profession. However, often the hardest part of any job is to just work effectively and conscientiously with the people in your own department.

Do you ever regret being an actuary?

Another reason I regret it is because it’s limited me to insurance and even if I find a job outside of insurance (eg banking) I’d still be performing a job suited to an actuary…which would involve producing or analysing numbers in a very back o Yes, every day. The profession doesn’t seem to be able to keep up with technology.

What is the main factor that prevents people from becoming actuary?

The main factor that prevents people from becoming an actuary can vary but I think it usually isn’t a lack of raw intelligence. Each exam progressively gets more detailed into specific actuarial disciplines and so an exam candidate may not find the specific discipline as interesting as the previous exams.

What types of insurance does an actuary compute?

The major types of insurance an actuary will compute will include life, pension, property and casualty, and healthcare. Unless you work for the government you are unlikely to have a pension, thus this branch is slowly dying.