Actuarial consultants provide financial advice to their clients to help inform their financial decision-making. They do this by communicating their analysis in a clear, non-technical way, ensuring their clients fully understand implications, and bearing in mind any limitations that may apply to their clients. They utilize a wide array of statistics, contingency plans, and large amounts of data to formulate a plan best suited to each client. Actuarial consultants earn a median sum of $81,000 annually or $39 per hour.
Actuarial consultants complete risk and cost analysis to determine financial uncertainties using the skills of a statistician, economist, and probabilities forecaster. They help clients choose the proper insurance, pension, and investing plans to meet their goals, and they work with insurance companies or with clients in the investment world. They spend an ample amount of time crunching numbers and running hypothetical scenarios containing current trends.
Actuarial consultants typically have a bachelor's degree in finance, economics, statistics, business, or other related fields. They are expected to pass an extensive series of examinations before becoming actuarial consultants. Also, actuarial consultants hoping to excel in the field often pursue a higher academic degree.
1. Maine
Total Actuarial Consultant Jobs:
193
Highest 10% Earn:
$175,000
Location Quotient:
5.98
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here
$107,063
Avg. Salary
