Actuary
Actuaries use mathematics, statistics, and financial theory to analyze the economic costs of risk and uncertainty.
What the job is
- The work
- Actuaries use mathematics, statistics, and financial theory to analyze the economic costs of risk and uncertainty.
BLS
Actuaries — Summary (Quick Facts)U.S. Bureau of Labor Statistics (OOH)- Checked
- 20 Oct 2026
- Work environment
- Most actuaries work for insurance companies. Although most work full time in an office setting, some actuaries who work as consultants travel to meet with clients.
BLS
Actuaries — Summary (Quick Facts)U.S. Bureau of Labor Statistics (OOH)- Checked
- 20 Oct 2026
- Good fit for
- Students who are very strong in calculus, probability and statistics, like programming and spreadsheets, and are ready for years of exams while working.
- Career cluster
- Financial Services
Key numbers
U.S. Bureau of Labor Statistics, Occupational Outlook Handbook, pay for May 2025 (actuaries).
- Median pay
- $130,000 a year ($62.50 an hour)
BLS
Actuaries — Summary (Quick Facts)U.S. Bureau of Labor Statistics (OOH)- Checked
- 20 Oct 2026
- Jobs in 2025
- 31,200
- Typical entry
- Bachelor's degree
- Training after hire
- Long-term on-the-job training
Job outlook, 2025–35
- Projected growth
- +9%, which BLS calls "much faster than average"
BLS
Actuaries — Summary (Quick Facts)U.S. Bureau of Labor Statistics (OOH)- Checked
- 20 Oct 2026
- Jobs added
- +2,900 over 2025–35
- All U.S. jobs
- 3.5% over the same period, for comparison
How to become one
- The usual route
- Actuaries typically need a bachelor’s degree to enter the occupation and must pass a series of exams to become certified. They must have a strong background in mathematics, statistics, and business.
BLS
Actuaries — Summary (Quick Facts)U.S. Bureau of Labor Statistics (OOH)- Checked
- 20 Oct 2026
- In short
- Actuaries typically need a bachelor's degree in mathematics, actuarial science, statistics or another analytical field, and pass a series of professional exams. Employers often expect one or two exams passed before graduation; the associate level may take up to 7 years.
- License
- No state license; pension actuaries need federal enrollment
- Paying for it
- File the FAFSA (opens by October 1) for grants, work-study and federal loans; a Pell Grant pays up to $7,395 a year (2026–27). Average public four-year tuition and fees: $11,950 in-state vs $31,880 out-of-state (2025–26). Residency rules and regional discounts · Save with 2+2 transfer
- Your state
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StateChoose a state
- AlabamaState guide
- AlaskaState guide
- ArizonaState guide
- ArkansasState guide
- CaliforniaState guide
- ColoradoState guide
- ConnecticutState guide
- DelawareState guide
- District of ColumbiaState guide
- FloridaState guide
- GeorgiaState guide
- HawaiiState guide
- IdahoState guide
- IllinoisState guide
- IndianaState guide
- IowaState guide
- KansasState guide
- KentuckyState guide
- LouisianaState guide
- MaineState guide
- MarylandState guide
- MassachusettsState guide
- MichiganState guide
- MinnesotaState guide
- MississippiState guide
- MissouriState guide
- MontanaState guide
- NebraskaState guide
- NevadaState guide
- New HampshireState guide
- New JerseyState guide
- New MexicoState guide
- New YorkState guide
- North CarolinaState guide
- North DakotaState guide
- OhioState guide
- OklahomaState guide
- OregonState guide
- PennsylvaniaState guide
- Rhode IslandState guide
- South CarolinaState guide
- South DakotaState guide
- TennesseeState guide
- TexasState guide
- UtahState guide
- VermontState guide
- VirginiaState guide
- WashingtonState guide
- West VirginiaState guide
- WisconsinState guide
- WyomingState guide
Step-by-step roadmap
The routes step by step, the exam gates and the state license step are on one page.
Actuary: degree, SOA or CAS exams, associate then fellow
See the roadmap
Route 1: Society of Actuaries: ASA → FSA · Route 2: Casualty Actuarial Society: ACAS → FCAS · Route 3: Pension actuary: enrolled actuary
More careers in Financial Services
Open the cluster hubEvery career page in this cluster, with entry, license, pay and outlook side by side.
Every number links to the BLS page it came from, checked 20 Oct 2026. Education Margdarshan does not recommend paid courses.