What is it like being an actuarial consultant?

An actuarial consultant advises clients on investment, insurance, and pension-related decisions using a variety of measurements. They complete risk and cost analysis and determine where financial uncertainties lie using the skills of a statistician, economist, and probabilities forecaster.

Is actuarial consulting worth it?

As you gain expertise and advance in your career, compensation between insurance and consulting will become less equal. On average, consulting actuaries will earn more than their peers at insurance companies. Though there is always the argument that on an hourly basis, insurance company professionals earn more.

How many hours do consulting actuaries work?

They often work at least 40 hours a week. Some actuaries, particularly consulting actuaries, may travel to meet with clients. Consulting actuaries and actuaries who work in the investment banking field may experience a more unpredictable schedule and be expected to work more than 40 hours per week.

What does an actuarial consultant do?

At their core, actuarial consultants are experts in quantifying financial risk, however there is much more to their role than simply crunching the numbers. Ultimately we provide advice to our clients which they can then use to help inform their financial decision making.

Do consulting actuaries travel a lot?

The answer is “yes, no and maybe”. In my career I traveled a modest amount both to conferences as well as to meet with individual clients. Some actuaries are senior executives and are required to travel a lot, while student actuaries almost never are called upon to travel.

Is an actuary a stressful job?

When you learn about a career as an actuary, it’s common to hear all the great benefits of it. It pays well, it’s low stress, and it’s a mentally stimulating and challenging career.