What can I do with a major in Actuarial Science?

Careers in Actuarial Science

Business

Actuaries analyze the financial costs of risk and uncertainty. They use mathematics, statistics, and financial theory to assess the risk that an event will occur and to help businesses and clients develop policies that minimize the cost of that risk.

Budget Analysts develop, analyze and execute budgets, which are used to allocate current resources and estimate future financial needs.

Commodities Traders work with the purchase, exchange, and selling of physical commodities such as metals, agricultural products, and precious materials.

Computer Scientists are experts of computer functions and computation, including creating statistical and data analytics.

Cost Estimators collect and analyze data to estimate the time, money, resources and labor required for product manufacturing, construction projects or services. Some specialize in a particular industry or product type.

Data Miners analyze data from different perspectives and summarize it into useful information – information that can be used to increase revenue, cut costs or both.

Financial Analysts provide guidance to businesses and individuals making investment decisions. They assess the performance of stocks, bonds and other types of investments.

Foreign Exchange Traders look at the various factors that influence local economies and rates of exchange, and then take advantage of any misevaluations of currencies by buying and selling in different foreign exchange markets.

Management Analysts (management consultants) propose ways to improve an organization’s efficiency. They advise managers on how to make organizations more profitable through reduced costs and increased revenues.

Personal Financial Advisors give financial advice to people. They help with investments, taxes and insurance decisions.

Purchasing Agents are in charge of all buying for their company. They buy the raw materials, goods and services their company needs to maintain operations.

Quantitative Financial Market Analysts work in finance using numerical or quantitative techniques.

Education

Math Teachers love mathematics and understand it well, but much more than that, they enjoy sharing their enthusiasm for the language of numbers with students.

Science Writers describe discoveries and commercial developments in all branches of science, engineering, medicine and environmental science. They explain the impact these discoveries have on the lives of average individuals.

Environment

Remote Sensing Scientists use sensors to analyze data and solve regional, national, and global problems in areas such as natural resource management, urban planning and climate and weather prediction.

Renewable & Alternative Energy Specialists help ensure that we can meet the world’s energy needs in the future.

Urban or Regional Planners develop plans and programs for the use of land.

Health

Public Health

Public health is the science of protecting and improving the health of people and their communities. This work is achieved by promoting healthy lifestyles, researching disease and injury prevention, and detecting, preventing and responding to infectious diseases.

Biostatisticians design research studies and analyze data related to human health, animals, or plants.

Law and Government

Cryptanalysts analyze and decipher secret coding systems and decode messages for military, political or law enforcement agencies or organizations.

Intelligence Analysts gather, analyze or evaluate information from a variety of sources, such as law enforcement databases, surveillance, intelligence networks or geographic information systems.

Science Policymakers serve as the bridge between researchers and the public, using their talents to find ways to translate esoteric, often highly technical scientific issues into something that can be sold as good policy.

Research and Development

Bioinformatics Scientists (computational biologists) work at the intersection of biology, computer science and information technology (IT), helping identify the genetic causes of human, animal and plant development and disease.

Market Research Analysts analyze data to figure out what products are in demand, who wants them and what consumers are willing to pay for them.

Mathematicians use mathematical theory, computational techniques, algorithms and the latest computer technology to solve economic, scientific, engineering, physics, and business problems.

Operations Research Analysts use advanced methods of analysis to help organizations solve problems and make better decisions.

Survey Researchers design or conduct surveys and analyze survey data. Many groups use surveys to collect factual data. Many groups use surveys to collect factual data, such as employment and salary information or to ask questions that help them understand people’s opinions, attitudes, beliefs or desires.

Other

Insurance Underwriters decide whether to provide and under what terms. They evaluate insurance applications and determine coverage amounts and premiums.

Psychometricians practice the science of measurement, or psychometrics.