So, you’ve decided that a major in mathematics is right for you. Congratulations! Careers in the STEM field are more coveted than ever. But what kind of career can you get when you major in mathematics that doesn’t involve teaching? A career as an actuary is a high-paying, coveted career path perfect for someone who majored mathematics. Actuaries use statistics, numbers and facts to predict how likely an event is to happen. Actuaries typically work to develop insurance plans and pension plans and can use their knowledge for private and corporate consulting.
Education
A minimum of a bachelor’s degree is required to become an actuary. As a major in mathematics, you should be prepared to take courses regarding statistics, predictive behaviors and communication. A career as an actuary will require you to speak to clients using layman’s terms, as well as potentially testifying in court or in public agencies, meaning your communication skills will have to be sharpened as much as your mathematics. Additionally, you should be prepared to take several exams that require rigorous studying that will help you break into the field and advance in your career.
What to know before you apply
While the field is predicted to grow over the next few years (a prediction an actuary may have come up with), since the field is so well-paid, expect to face some competition when it comes to getting a job. However, as long as you show that you are a well-rounded employee, capable of being both friendly and thoughtful, you have a good chance of standing out as a successful candidate in whatever area of the field you choose to go in.
Salary
According to the Bureau of Labor Statistics, actuaries earned an average of $93,680 per year as of 2012.
