The role of actuaries is changing as new technologies are developed. Machine learning and artificial intelligence are helping to make actuary work more accurate. Instead of being replaced by machines, actuaries are actually becoming more relevant as society embraces these new technologies. Here is what you need to do to be a part of the actuary future.
Actuaries typically have an undergraduate education in accounting, finance, data science, economics, mathematics or statistics. Loving math is a key ingredient to being successful in this career! It also helps to have knowledge in computer programming.
In order to become a credentialed actuary, you must pass ten preliminary exams that are administered by the Society of Actuaries (SOA). These exams are challenging and you will have to study for a long time and possibly take special courses in order to succeed at them. To be employed, you must pass the first two exams. You can then take the other exams as you grow your career.
After passing at least a couple of the exams, it’s time to intern at a company. This “free labor” is paid in experience, which will help you get hired in the future.
This is a quick summary of what you need to succeed as an actuary as its future grows.