Actuarial Science Ranked As Most Valuable College Major

[DEAD7]

Actuarial science majors earn an average annual salary of $108,658 and have a better-than-average unemployment rate at 2.3 percent. And at a time when student debt is at a record high, these graduates are less likely to incur the added expense of additional schooling and delayed earning potential. Less than 1 in 4 graduates pursue advanced degrees. The study ranked 162 majors with labor forces of at least 15,000 people based on average annual income, employment status and whether those graduates went on to pursue a higher degree within 12 months. Income accounted for 70 percent of the weighted ranking, unemployment for 20 percent and 10 percent was awarded to career paths that did not demand additional education. The data was derived from the U.S. Census Bureau's 2016 American Community Survey.

Terms of Service Violation

 

[Berniewood Hogan]

 

[TheNig]

Always wondered what exactly do you major in to do actuarial science. Physics? Finance? Accounting? Mathematics?

 

[KingBeez]

What do you even do as an actuary?

 

[iceberg_is_on_fire]

Actuaries are people that understand both accounting and statistics to guess things like retirement funds, healthcare funds. etc. For example.

You have 5000 employees, around 200 are retiring with full benefits, 100 are retiring early with partial benefits, you are hiring 150 more and keeping track of all of the changes to ensure people have a pension when they retire. Not to mention the 4700 that are already there. The actuary forecasts things like cost of living increases for the future in addition to many other things to make sure that the fund is solvent, so that the company, especially if this is a non-contributory pension plan. Non-contributory means the company covers the entire pension. Really smart people do this. I just stick to accounting brehs. I don't want to be figuring out that NASA level shyt.

 

[G-Zeus]

What do you even do as an actuary?

use math to predict stuff...
they are able to see "patterns"


i cant beleive i was once thought to be heading in that direction by a teacher

i just wanted to play videogames

 

[Anerdyblackguy]

That math is brutal though. But yeah, most Acturial majors, Insurance majors and Risk Management Students join insurance firms like AIG, Chubbs and Willis Towers Watson.

 

[TLR Is Mental Poison]

Actuarial work can be tough. Lot of death statistics. Takes a certain kind of person

 

[ExodusNirvana]

When I was in undergrad, they were actually more or less paying students to switch majors to this

I didn't think I would be able to get a job in the field and I had no idea what the fukk it was

By grad school I did though...and by then it was too late

 

[Professor Emeritus]

I thought about it in high school because it used a lot of math. But it's gotta be a soul-numbing career. Just crunching numbers all day long trying to figure out who is going to get sick and who is going to die, and most of them are working for insurance firms and such trying to calculate how to stay ahead of (meaning screw) their own clients.

 

[Rev Leon Lonnie Love]

yeah right, this aint 2009 no more where Actuarial Science was attractive.

its got great job stability but Data Science and pure Statistician work is where its at when it comes to making lots of money

get that outdated Actuarial shyt outta here

and this is coming from someone who actually majored in this in undergrad