How to hire an actuarial internship

How to hire an actuarial internship, step by step

Here's a step-by-step actuarial internship hiring guide:

• Step 1: Identify your hiring needs
• Step 2: Create an ideal candidate profile
• Step 3: Make a budget
• Step 4: Write an actuarial internship job description
• Step 5: Post your job
• Step 6: Interview candidates
• Step 7: Send a job offer and onboard your new actuarial internship
• Step 8: Go through the hiring process checklist

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1. Identify your hiring needs

   The actuarial internship hiring process starts by determining what type of worker you actually need. Certain roles might require a full-time employee, whereas part-time workers or contractors can do others.

   Determine employee vs contractor status

   Is the person you're thinking of hiring a US citizen or green card holder?

   Yes

   No

   An actuarial internship's background is also an important factor in determining whether they'll be a good fit for the position. For example, actuarial interns from different industries or fields will have radically different experiences and will bring different viewpoints to the role. You also need to consider the candidate's previous level of experience to make sure they'll be comfortable with the job's level of seniority.

   The following list breaks down different types of actuarial interns and their corresponding salaries.

   Type of Actuarial Internship	Description	Hourly rate
   Actuarial Internship	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 they help businesses and clients develop policies that minimize the cost of that risk... Show more	$27-66
   Pricing Actuary	Pricing Actuaries are statisticians who work in either the financial or insurance industries. This position uses extensive math skills to determine the price of products by analyzing data and calculating risks... Show more	$14-63
   Health Actuary	Health Actuaries are responsible for assessing financial risk and calculating premium costs for healthcare and insurance companies. They are involved in analyzing statistical data and marketplace trends, reviewing plan reserves, preparing rate files, and creating aggregated health data-based monthly reports... Show more	$23-96

   Show more

2. Create an ideal candidate profile

   Common skills:

   • Competitive Analysis
   • Analyze Data
   • VBA
   • SQL
   • PowerPoint
   • SAS
   • Data Analysis
   • Annuity
   • Product Development
   • Health Insurance
   • Macro
   • Financial Statements
   • R
   • Benefit Calculations

   Check all skills

   Responsibilities:

   • Evaluate capitation agreements between provider groups and manage care plans, including commercial and Medicare populations.
   • Prepare in-force reports to build statutory, tax and GAAP reserves.
   • Assist developing model for individual life, annuities and retirement plans.
   • Test projection output for PolySystems by performing cashflow spot checking and ALM output comparisons.
   • Programme in SAS to import, manipulate, join, analyze, and present data.
   • Query premiums from different lines of business using SAS and calculate weighted pricing target ratios.

3. Make a budget

   Including a salary range in your actuarial internship job description is one of the best ways to attract top talent. An actuarial internship can vary based on:

   • Location. For example, actuarial interns' average salary in hawaii is 48% less than in new york.
   • Seniority. Entry-level actuarial interns 58% less than senior-level actuarial interns.
   • Certifications. An actuarial internship with certifications usually earns a higher salary.
   • Company. Working for an established firm or a new start-up company can make a big difference in an actuarial internship's salary.

   Average actuarial internship salary

   $90,428yearly

   $43.48 hourly rate

   ---

   Entry-level actuarial internship salary

   $58,000 yearly salary

   Updated December 20, 2025

4. Writing an actuarial internship job description

   A good actuarial internship job description should include a few things:

   • Summary of the role
   • List of responsibilities
   • Required skills and experience

   Including a salary range and the first name of the hiring manager is also appreciated by candidates. Here's an example of an actuarial internship job description:

   Actuarial internship job description example

   Who We Are
   Point32Health is a leading health and wellbeing organization, delivering an ever-better personalized health care experience to everyone in our communities. At Point32Health, we are building on the quality, nonprofit heritage of our founding organizations, Tufts Health Plan and Harvard Pilgrim Health Care, where we leverage our experience and expertise to help people find their version of healthier living through a broad range of health plans and tools that make navigating health and wellbeing easier.
   
   We enjoy the important work we do every day in service to our members, partners, colleagues and communities.
   
   Job Summary
   The Actuarial Services Internship Program is designed to provide exposure to basic Actuarial and analytic techniques, provide insight into the health insurance field, and provide an opportunity to demonstrate skills taught during the internship. Interns will support the analysis and data needs for a broad range of financial and actuarial functions. This support will include rate reviews, reserve setting, financial planning and projections, trend analysis, provider reimbursement analysis, fee schedule development, provider risk analysis, and medical cost containment analysis. This role will work closely with a variety of Point32Health departments including underwriting, sales, contracting, finance, and medical management.
   
   Key Responsibilities/Duties - what you will be doing
   Performs analytic project work assigned by manager with supervision Participates in planning and review sessions with own team; Facilitates review sessions with manager Design simple technical applications Updates/creates project documentation (i.e. key decisions, data sources, etc) Performs basic checks for data consistency, according to defined criteria Identify unusual results and rule out data / formula / technical issues Examines and interprets results in the context of the specific business questions being addressed Identifies when analysis results in unusual results, new questions, additional analysis, and/or unforeseen data complexities and addresses them Identifies reasonable conclusions/assumptions Packages and presents the results to answer the identified questions / demonstrates an understanding of the work Other duties and projects as assigned
   
   Qualifications - what you need to perform the job
   Current students working towards a Mathematics, Statistics, and/or Actuarial Science degree Demonstrate aptitude in analytic project design through design and build of simple technical applications Basic knowledge of relational databases, statistical packages, spreadsheet and/or database applications (i.e. Excel, SAS, SPSS, SQL) Demonstrate a well-developed verbal and written communication skill through meetings, emails, and presentations within department and project teams Complete work with regular management oversight of all tasks, projects and processes Apply own judgment to limited analytical/technical issue Must be able to work cooperatively as a team member Follow Actuarial department standards and processes upon instruction
   
   Commitment to Diversity, Equity & Inclusion
   Point32Health is committed to making diversity, equity, and inclusion part of everything we do-from product design to the workforce driving that innovation. Our DEI strategy is deeply connected to our core values and will evolve as the changing nature of work shifts. Programming, events, and an inclusion infrastructure play a role in how we spread cultural awareness, train people leaders on engaging with their teams and provide parameters on how to recruit and retain talented and dynamic talent. We welcome all applicants and qualified individuals, who will receive consideration for employment without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, or veteran status.
   
   COVID Policy
   Please note: As of January 18, 2022, all employees - including remote employees - must be fully vaccinated. This position will require the successful candidate to show proof of full vaccination against COVID-19. Point32Health is an equal opportunity employer, and will consider reasonable accommodation to those individuals who are unable to be vaccinated consistent with federal, state, and local law.

   Copy this example

   

5. Post your job

   To find actuarial interns for your business, try out a few different recruiting strategies:

   • Consider internal talent. One of the most important talent pools for any company is its current employees.
   • Ask for referrals. Reach out to friends, family members, and your current work to ask if they know any actuarial interns they would recommend.
   • Recruit at local colleges. Attend job fairs at local colleges to recruit entry-level actuarial interns with the right educational background.
   • Social media platforms. LinkedIn, Facebook, and Twitter have more than 3.5 billion users, and they're a great place for company branding and reaching potential job candidates.

   Post your job online:

   • Post your actuarial internship job on Zippia to find and recruit actuarial internship candidates who meet your exact specifications.
   • Use field-specific websites.
   • Post a job on free websites.

6. Interview candidates

   During your first interview to recruit actuarial interns, engage with candidates to learn about their interest in the role and experience in the field. During the following interview, you'll be able to go into more detail about the company, the position, and the responsibilities.

   It's also good to ask about candidates' unique skills and talents to see if they match your ideal candidate profile. If you think a candidate is good enough for the next step, you can move on to the technical interview.

   While interviews are great, you will only sometimes learn enough from a conversation with an actuarial internship applicant. In those cases, having candidates complete a test project can go a long way in figuring out who's the most likely to succeed in the role. If you aren't a technical person and don't know how to design an appropriate test, you can ask someone else on the team to create it or take a look at these websites to get a few ideas:

   • TestDome
   • CodeSignal
   • Testlify
   • BarRaiser
   • Coderbyte

   The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.

7. Send a job offer and onboard your new actuarial internship

   Once you've decided on a perfect actuarial internship candidate, it's time to write an offer letter. In addition to salary, it should include benefits and perks available to the employee. Qualified candidates may be considered for other positions, so make sure your offer is competitive. Candidates may wish to negotiate. Once you've settled on the details, formalize your agreement with a contract.

   You should also follow up with applicants who don't get the job with an email letting them know that you've filled the position.

   To prepare for the new employee's start date, you can create an onboarding schedule and complete any necessary paperwork, such as employee action forms and onboarding documents like I-9 forms, benefits enrollment, and federal and state tax forms. Human Resources should also ensure that a new employee file is created.

8. Go through the hiring process checklist

   • Determine employee type (full-time, part-time, contractor, etc.)
   • Submit a job requisition form to the HR department
   • Define job responsibilities and requirements
   • Establish budget and timeline
   • Determine hiring decision makers for the role
   • Write job description
   • Post job on job boards, company website, etc.
   • Promote the job internally
   • Process applications through applicant tracking system
   • Review resumes and cover letters
   • Shortlist candidates for screening
   • Hold phone/virtual interview screening with first round of candidates
   • Conduct in-person interviews with top candidates from first round
   • Score candidates based on weighted criteria (e.g., experience, education, background, cultural fit, skill set, etc.)
   • Conduct background checks on top candidates
   • Check references of top candidates
   • Consult with HR and hiring decision makers on job offer specifics
   • Extend offer to top candidate(s)
   • Receive formal job offer acceptance and signed employment contract
   • Inform other candidates that the position has been filled
   • Set and communicate onboarding schedule to new hire(s)
   • Complete new hire paperwork (i9, benefits enrollment, tax forms, etc.)

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