Actuarial Science is the study of mathematical statistics and probabilities. The major employer of graduates with degrees in Actuarial Science is Insurance Firms but the trend is expanding to financial institutions and consulting firms. Since the world is always increasing in population; the need for mathematical science becomes ever more useful to provide a better understanding of the world's trends.
Actuarial careers ranks in the same class as engineering. There are many degrees that you can get in college but when it comes to the highest paid careers out of college, then Actuarial Science is in the top tier. The only downside to Actuarial Science is the fact that there are only a few top schools that offer this rewarding opportunity. The average starting salary is 56k, yes; I said $56,000 straight out of college. Even though you can get a bachelor's degree, there are multiple years (up to 8) of examinations after graduation. Actuarial Science rewards the effort of people who master mathematical science at its highest level.
The average starting salary is 56k but the bottom 10% of workers in Actuarial Science make around 46k and the top 10% is bringing home around 119k. The majority of graduates in Actuarial work are making around 84k.
These salaries represent a dedication to mathematics and hard work. Then numbers of applicants of Actuarial work or Actuarial Internships has been increasing since 2008. This means the number of Actuarial position will increase as will the number of qualified applicants. So if you love math and want a well paying career that will reward you for excellence, then Actuarial Science is for you.
