Actuary Jobs: A Winning Combination of High Pay, Flexibility, and Low Stress

In the pursuit of an ideal job, priorities often vary among workers. According to a 2022 Gallup poll surveying 13,085 U.S. employees, 64% consider pay and benefits crucial factors in accepting a job offer. Nearly an equal percentage, 61%, prioritize work-life balance and overall well-being, a trend influenced by the increasing prevalence of remote work.

An occupation that aligns with these criteria is that of an actuary. With a median salary of $113,990 per year, as reported by the Bureau of Labor Statistics, actuaries find themselves in a profession that offers both financial rewards and flexibility. Many actuarial roles allow for hybrid or fully remote work arrangements.

Actuaries specialize in assessing risks for their clients, often working on behalf of insurance companies. Their expertise lies in analyzing data related to mortality, accidents, illness, disability, and more. By constructing probability models for various scenarios, they provide informed advice to clients.

While the path to becoming an actuary typically involves a bachelor’s degree, specifically in fields like mathematics or statistics, experience in the role is also essential. Vicki Salemi, a career expert at Monster, notes that coding or software skills are often required, alongside soft and communication skills for effective data analysis and interpretation. Some employers may also prefer candidates who are members of actuary groups, such as the Casualty Actuarial Society.

Apart from the enticing combination of high pay and flexibility, the actuarial profession is in high demand. The Bureau of Labor Statistics projects a 23% growth in actuary employment from 2022 to 2032, a rate deemed “much faster than average” by Salemi. Factors contributing to this demand include environmental changes, prompting the need for risk assessment in areas such as tornadoes, floods, and hurricanes.

One additional perk of pursuing a career as an actuary is its comparatively low-stress level. Ranked at 57 on the stress tolerance scale by the Labor Department’s Occupational Information Network, actuarial work is considered less stressful. Salemi attributes this to factors like a standard 40-hour workweek and overall job stability.

In summary, the actuary role emerges as a winner, offering a compelling blend of financial reward, job flexibility, and a stress-free work environment.