Actuarial Career Path

Actuaries measure risk and discover ways for people and organizations to stay secure. In 2018 Almost 72% of actuary jobs were in the insurance industry,  17% in the consulting field, and about 9% were in corporate management. According to the Bureau of Labor Statistics, the actuary job growth between 2018-2028 is expected to be about 20%, with a median salary of $102,880 per year. In addition, actuary jobs were rated in the top ten jobs in the United States by Careercast.com in 2019 and have continuously placed near the top or at the top of the rankings for the past ten years.

Requirements to Become an Actuary

For an entry-level actuary position, you need to pass the first two actuarial exams (probability and financial math) and obtain validation by educational experience (VEE) in Economics, Accounting and Finance, and Mathematical Statistics. UMKC Math & Stat Department has already created career path to meet these requirements.  By taking certain courses you will be prepared for the exams and will automatically obtain the VEE. Several math graduates from our department are already employed as an actuary. KC Companies that actively recruit include Mercer, Aetna, GEICO, Anthem and Lockton. The easiest way to meet the requirements is to add a minor in actuarial science to your degree plan. [Read more]

For more information please contact Dr. Bani-Yaghoub (baniyaghoubm@umkc.edu).

External Sources

  1. Career path and the exams 
  2. Associate of the Society of Actuaries (ASA)
  3. ASA Pathway
  4. Becoming an Actuary 
  5. Department of Labor Occupational Outlook handbook 
  6. American Academy of Actuaries 
  7. Society of Actuaries
  8. Casualty Actuarial Society