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Academics

Actuarial Science Major

Frequently Asked Questions About Actuarial Science

Q. What does an actuary do?
A. 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 (Bureau of Labor Statistics).

Q. How much does an actuary make?
A. Actuaries nationwide in 2000 had an average salary of $72,470 per year.

Q. Where does an actuary work?
A. About 7 out of 10 actuaries are employed in the insurance industry. Most of the rest work for firms providing various corporate services, including actuarial consulting services. Experts predict many new opportunities will come from health service and computer service companies.

Actuarial Science Resources

  • "Whatever Is an Actuary?" Rodermund, Matthew, The Actuarial Review (February 2000). 22 October 2001
  • "Career Outlook for Actuaries." Newsroom. D.W. Simpson and Co. 22 October 2001.
  • "Actuary is Rated One of the Best Jobs in America!" Newsroom. D.W. Simpson and Co. 19 October 2001

/ Department of Mathematical Sciences

Jennifer Hunter
Academic Administrative Assistant
Towers Hall 124
p / 614.823.1218
e / jhunter@otterbein.edu

 

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