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Experienced actuaries are in high demand

Monday, April 1, 2013
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Experienced actuaries are in high demand
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As actuaries use their skills in the areas of financial theory, statistics and mathematics to determine the costs of risk, these professionals are very valuable to businesses that are looking to minimize uncertainty and the unnecessary loss of money. In fact, actuaries are in such high demand that the U.S. Bureau of Labor Statistics (BLS) projects a 27 percent increase in the number of job opportunities in this profession through 2020.

With this line of work thriving in the current economy, The University of Texas at Dallas will expand its offerings in this field beyond the undergraduate level to include a Master of Science in Actuarial Science, the school's Web site reported.

"This new program was needed to meet the demands of our students as well as the needs of the job market," said Natalia Humphreys, the associate head of the university's actuarial program, as quoted by the Web site.

Before they become official actuaries, individuals must take several preliminary actuarial examinations to obtain professional accreditation. While the university's bachelor's degree program only prepares students for the first two assessments, the master's option will ensure they are ready for all five tests.

According to the BLS, the fact that actuaries receive high pay and work in comfortable settings makes this line of work very desirable. To get a leg up on the competition, one of students' best bets may be to earn a graduate degree in actuarial science. 

By Monique Smith

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Queens College
Queens College offers more than 100 master's degrees and advanced certificates in the liberal arts, sciences, social sciences, and teacher education.
www.qc.cuny.edu