Fast Facts About Actuaries
Answers to your frequently asked questions.
- How long does it take to become an Actuary?
Being an actuary requires passing a series of examinations to earn an actuarial designation through the Casualty Actuarial Society or the Society of Actuaries. See the Actuarial Exams section for all of the details on actuarial exams. It could take from 6-10 years to pass all of the exams, but you can begin a career as an actuary by passing the first two exams, and then taking subsequent exams while working as an actuarial assistant.
- How do potential actuaries decide which type of actuarial work to pursue?
When it comes time to choose the Casualty Actuarial Society's (CAS) exam track or the Society of Actuaries' (SOA) exam track, choosing the one that's right for you requires asking some questions about the aspects of actuarial science you enjoy most. Consider pursuing an internship on both sides of the typical actuarial divide—property/casualty and life and health.
Keep in mind that while some may consider the different types of work involved, for most, it depends on practical considerations such as what jobs are available in the geographic area you want to live in.
- How much money will I make as an actuary?
Actuaries are well compensated. Experienced Fellows have the potential to earn from $150,000 to $250,000 annually, and many actuaries earn more than that. Review our salary web page for more details and links to external actuarial salary surveys.