Q&A

Can actuaries become billionaires?

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Can actuaries become billionaires?

Originally Answered: Can actuaries and actuarial consultants become billionaires? Not through actuarial work. Actuaries can easily earn enough to become millionaires if they don’t spend too much of their earnings, but to become a billionaire you need to do more than earn a salary.

What kind of actuaries make the most money?

The highest-paid actuaries are:

  • Chief Actuaries.
  • Principal Actuaries.
  • Partner Actuaries.
  • Lead Consultants.
  • Investment Actuaries.

Do actuaries make good CEOS?

Currently, we have 114 members whose job title is president or CEO. This is not surprising as actuaries are very bright and understand insurance operations very well. If a CEO is an actuary, he or she understands the value of actuaries and is more likely to hire actuaries to work in many nontraditional actuarial roles.

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What job will make me a millionaire?

Jobs that better your chances of becoming a millionaire

  • Professional athlete. National average salary: $81,107 per year.
  • Investment banker. National average salary: $62,222 per year.
  • Entrepreneur. National average salary: $68,904 per year.
  • Lawyer.
  • Certified public accountant.
  • Insurance agent.
  • Engineer.
  • Real estate agent.

Which profession has the most millionaires?

Ramsey Solutions conducted the largest survey of millionaires ever with 10,000 participants. Eight out of ten millionaires invested in their company’s 401(k) plan. The top five careers for millionaires include engineer, accountant, teacher, management and attorney.

Can actuaries be CFO?

Actuaries can become VPs while still actuaries, Chief actuaries, or can transition into another role like Chief Underwriter, Chief Financial Officer, on rare occasion Chief Executive Officer, or pretty much any other financial role within the company. Again, this applies only to insurance companies.

How much does a top actuary make?

How Much Does an Actuary Make? Actuaries made a median salary of $108,350 in 2019. The best-paid 25 percent made $148,720 that year, while the lowest-paid 25 percent made $81,210.

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