What does an actuary do? Why is the income so high?

The high income of the financial industry is also a well-known thing, but how high is the salary in this socks industry? What is the need for effort? What does it take to become an actuary? Let's take a look.

a) Do actuaries earn a lot?

It is true that actuaries are well paid, but with high incomes comes high pressure. Due to the different organizational structure of the company, the actuarial system of each company has a large gradient range, and the actuarial functions of each company will be different. This does not include returnees and graduate students.

However, after having a certain amount of experience in the work, such as 3-5 years, plus the actuary certificate can still be used as a financial practitioner in this industry, the market salary in that year is still very high, and most of the income is in the pre-tax gradient of 40-60w.

2) How can I become an actuary?

What courses do actuaries need to take? The first is mathematics, if you hate high mathematics, line algebra, probability theory in college, and your math grades are not good, then you basically say goodbye to this industry; It is also necessary to learn statistics, financial theory and practice, financial mathematics, financial economics, and finance, which are all necessary to learn, and it is impossible to choose, which is the foundation laid for a financial practitioner, and the knowledge of the above related theories must be mastered. Secondly, there is also a person's logical thinking, people who are not strong in logical thinking ability cannot do the work of data analysis, data analysis requires strong logical thinking ability; You also need to have good patience, you need to do a data screening before data analysis, which is an extremely boring process, and it takes a long time, if you can't pass it at this stage, then there is no way to move on to the next step, so you need to be patient; Examination, associate actuary certificate, actuary certificate, are all a bargaining chip to be able to gain a foothold in this industry, and in the process of examination, you can also absorb new knowledge and understand new changes and new policies in the industry.

Actuary, as an emerging position in the industry, has also been favored and recognized by domestic people in recent years. Does it meet the needs of development? What is their income level?

1. Actuary Profession Introduction.

Literally, an actuary is a position that is associated with operations and often deals with numbers on a daily basis. Yes, actuaries are an emerging profession that uses complex probabilistic mathematics and financial tools to control the financial risk of enterprises. The recruitment of actuaries is generally engaged in insurance, financial industry work enterprises, mainly responsible for the insurance company to bear the economic risk of the stove, because the actuary's daily work will directly involve the economic amount of the enterprise, so you must ensure that you have a certain professional knowledge and good computing ability, otherwise the economic losses involved will be borne by you, in order to become a qualified, excellent actuary, you have to learn and master a lot of knowledge.

2. Current statistics of actuary talents.

According to the current statistics of actuary talent data, there are about about about 100 members of the actuary association in the UK, while there are only more than 100 actuaries in China. In the actuary association in North America, there are about 4w actuary members worldwide.

From the data, it can be seen that the number of actuaries in China is far less than that in foreign regions, and from the current development status of the industry, the number of actuaries in China is far from meeting the needs of the industry market, and is in a serious shortage stage.

3. What is the income level of actuary?

Regarding the salary income of actuarials, the salary level of each region is different, but it is certain that the overall income level of actuaries is not low, taking the United Kingdom as an example, the starting salary of actuaries is about 5w, and for those who have accumulated certain work experience, their income has risen to 10w.

In China, the annual salary of actuaries has also reached the level of 10w, and the positions of actuaries, which are basically concentrated in first-tier cities such as Beijing, Shanghai, Guangzhou and Shenzhen, and the income level of actuaries who are more senior and professional in China has reached 100w and 300w yuan.

Actuaries are mainly engaged in the calculation of insurance premiums, compensation reserves, dividends, sum insured, pensions, annuities, etc.

The main work of actuaries is to analyze risks and quantify the financial impact, and traditional actuaries still work in insurance companies and actuarial consulting companies.

Is there a fixed major for actuaries to take the exam?

The major applied for is not fixed, but the best professional background is to study mathematics, statistics, economics, finance, financial management, etc., if not in these industries, then it is best to be in statistics, economics, finance These industries, because the knowledge content of these majors is the basis for learning actuary knowledge, so the introduction to these industries will be simpler.

Actuaries are actually a bit similar to CPAs, both are professional services industries, in the accounting industry, CPAs have the sole right to sign, in the actuary industry, the chief actuary can review, sign publicly disclosed data and reports, review, sign actuarial reports, embedded value and other related documents.