These people are mostly found in the insurance sector, and their job is to use statistical data to calculate clients' financial uncertainty. They are also tasked with calculating the cost of premium health insurance packages. Seventy percent of Health Actuary work in insurance companies, while the rest of them work with some government health agencies. They are also responsible for providing advice to their clients, but on a contract basis; they often work mostly as consultants. They design, help administer insurance, analyze pension plans, determine financial soundness, and calculate premiums.
There are some skills you need to increase your chances of getting this job. Some of them include mathematics skills, the ability to calculate and identify potential risk with the use of calculus, and probability, strong statistical skills, strong analytical skills, technical skills, e.g., database operations, statistical analysis, and spreadsheets, risk management skills, ability to identify and predict potential and problem-solving skills. The salary structure for this job depends on some factors: the size of the organization, the experience of the candidate, and the country in which you reside. In the United States, an average Health Actuary earns between $68,000 and $113,567 per annum.
There is more than meets the eye when it comes to being a finance and insurance manager. For example, did you know that they make an average of $44.98 an hour? That's $93,556 a year!
Between 2018 and 2028, the career is expected to grow 16% and produce 104,700 job opportunities across the U.S.
There are certain skills that many finance and insurance managers have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed customer-service skills, leadership skills and analytical skills.
If you're interested in becoming a finance and insurance manager, one of the first things to consider is how much education you need. We've determined that 63.9% of finance and insurance managers have a bachelor's degree. In terms of higher education levels, we found that 4.8% of finance and insurance managers have master's degrees. Even though most finance and insurance managers have a college degree, it's possible to become one with only a high school degree or GED.
Choosing the right major is always an important step when researching how to become a finance and insurance manager. When we researched the most common majors for a finance and insurance manager, we found that they most commonly earn bachelor's degree degrees or associate degree degrees. Other degrees that we often see on finance and insurance manager resumes include high school diploma degrees or master's degree degrees.
You may find that experience in other jobs will help you become a finance and insurance manager. In fact, many finance and insurance manager jobs require experience in a role such as sales manager. Meanwhile, many finance and insurance managers also have previous career experience in roles such as sales consultant or sales representative.