In a sense, actuaries attempt to predict the future – not by gazing deep into a crystal ball, but by utilising mathematics, statistics, and theories of finance and risk to calculate and model the probability of future events. Actuaries develop creative solutions to mitigate negative outcomes and protect people and companies from potential harm. It is a good time to work in the actuarial field. Kyle Kensing, online editor at CareerCast, said actuaries “are a mainstay on the best jobs rankings, regularly appearing in the top 10 professions to work.”
A report from the Institute and Faculty of Actuaries also suggests that the actuarial profession is continually growing and expanding. “Actuaries are still in short supply around the world and the demand for actuaries will continue to grow as the world expands into new territories, such as artificial intelligence. Actuaries will always be in demand because they are great risk managers and problem solvers.”
Most industry analysts expect strong employment growth in the actuarial sector in the next decade. According to the Institute and Faculty of Actuaries, of the 17,426 members (as of November 2018), 34% are in the UK and Northern Ireland (NI), and 66% are based outside the UK and NI.
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