Actuaries

Analyze statistical data, such as mortality, accident, sickness, disability, and retirement rates and construct probability tables to forecast risk and liability for payment of future benefits. May ascertain insurance rates required and cash reserves necessary to ensure payment of future benefits.

Most important skills

Mathematics
Reading Comprehension
Active Listening
Critical Thinking
Complex Problem Solving
Judgment and Decision Making
Writing
Speaking

Key knowledge

Mathematics
Economics and Accounting
Computers and Electronics
English Language
Administration and Management
Law and Government
Administrative
Customer and Personal Service

What the work involves

Analyze statistical information to estimate mortality, accident, sickness, disability, and retirement rates.
Design, review, and help administer insurance, annuity and pension plans, determining financial soundness and calculating premiums.
Collaborate with programmers, underwriters, accounts, claims experts, and senior management to help companies develop plans for new lines of business or improvements to existing business.
Determine, or help determine, company policy, and explain complex technical matters to company executives, government officials, shareholders, policyholders, or the public.
Testify before public agencies on proposed legislation affecting businesses.
Provide advice to clients on a contract basis, working as a consultant.
Construct probability tables for events such as fires, natural disasters, and unemployment, based on analysis of statistical data and other pertinent information.
Determine policy contract provisions for each type of insurance.

Strongest interest areas (O*NET): Conventional, Investigative, Enterprising.

Qualifications and licensing

Most common education: Bachelor's Degree (82.4% of expert ratings)
Related experience: None (44.1%)
On-the-job training: Over 6 months, up to and including 1 year (20.6%)
Preparation level: O*NET job zone 4: Job Zone Four: Considerable Preparation Needed
Licensing: Not yet verified. Check your state licensing board.

Check before planning

Licensing for Actuaries is not yet verified for any state: check the state licensing board before planning.

Limits

Distributions show what current workers or occupational experts report, not legal minimums.
Requirements vary by employer and state; time to qualify is not estimated.

Source: O*NET 31.0 Database (USDOL/ETA, CC BY 4.0); BLS Employment Projections · dataset 2026.10.8 · method e3-qualification-1.0.0

Work environment

How the typical conditions of this occupation compare with 911 occupations in O*NET (very low = the lowest fifth).

Levels are relative. Most occupations involve a lot of contact with people, for example, so “very low” can still mean regular contact; the last column shows what workers actually reported.

Rankings compare typical U.S. occupation-level work conditions; individual jobs and employers vary. Data: O*NET 31.0 Work Context and BLS wages (May 2025).
Condition	Level	Compared with other occupations	Most common answer (O*NET survey)
Contact with others	Very low	Lower on contact with others than 94% of occupations compared	35% of surveyed respondents chose “Contact with others most of the time”
Dealing with the public	Very low	Lower on dealing with the public than 92% of occupations compared	53% of surveyed respondents chose “Not important at all”
Teamwork	Moderate	Lower on teamwork than 52% of occupations compared	53% of surveyed respondents chose “Extremely important”
Freedom to make decisions	Moderate	Lower on freedom to make decisions than 57% of occupations compared	47% of surveyed respondents chose “Some freedom”
Time pressure	Very low	Lower on time pressure than 90% of occupations compared	53% of surveyed respondents chose “Once a month or more but not every week”
Conflict situations	Very low	Lower on conflict situations than 86% of occupations compared	62% of surveyed respondents chose “Once a year or more but not every month”
Dealing with unpleasant or angry people	Very low	Lower on dealing with unpleasant or angry people than 98% of occupations compared	55% of surveyed respondents chose “Once a year or more but not every month”
Consequence of error	Low	Lower on consequence of error than 66% of occupations compared	32% of surveyed respondents chose “Fairly serious”

Work-pressure profile

Time pressure: very low
Conflict situations: very low
Dealing with unpleasant or angry people: very low
Consequence of error: low

Each part is shown on its own. There is no combined stress score, and conditions vary by employer and role.

Full answer distributions