You are not sure about which career you are planning to pursue in college? You want to see more careers in college? This article will help you know more about a career that could let you choose a variety of paths from it.

An actuary is a person who looks at the risk that could happen in a company, evaluates the financial costs of uncertain future events, and designs insurance policies for companies. This career was created from the need for scientific risk management in insurance, particularly life insurance and annuities, which began in the 17th century. The term “actuary” emerged in 1762 when the Equitable Life Assurance Society, led by pioneering figures like James Dodson, and later became a career that most companies need to ensure their safety and have the knowledge of certain risks.

This career is mostly related to probability, statistics, and financial mathematics. Which means it is more of math, computer science, communication skills, and finance/economics. This career takes around 7 to 10 years to become a complete Actuary. Even though you could be an assistant and you could do fewer years. To be an actuary, you need to meet many requirements, such as passing a series of exams offered by the Society of Actuaries (SOA), the Casualty Actuarial Society (CAS), and College Coursework. Candidates typically need to complete coursework in economics, finance, and mathematical statistics while in college.

This career is very required around the world and in the US. Many companies are interested in having an actuary, such as Prudential, Chubb, Deloitte, and many others. The job has a very good salary, which is between 120k-140k, depending on how much experience you have in the field. And this doesn’t just stop at an actuary.

Actuaries can advance their careers through various paths, including becoming department heads, project or client leads, or technical experts. They can also move into roles like chief risk officer or chief financial officer by gaining a broad understanding of risk management. Which could significantly increase your salary for a better life.