Actuary

Actuary — How to Become

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How Do You Become an Actuary? Editorial

Pathway Steps 6
Typical Education Bachelor's degree

Step-by-Step Career Path

  1. 1

    Earn a bachelor's degree

    Complete a four-year bachelor's degree in actuarial science, mathematics, statistics, or a related field to build foundational knowledge in key areas like mathematics, economics, and computers.

  2. 2

    Develop technical and analytical skills

    Strengthen skills in mathematics, statistics, and data analysis, while also gaining proficiency in programming languages and software tools commonly used in actuarial work.

  3. 3

    Gain related work experience

    Secure internships or entry-level positions in insurance, finance, or consulting to apply academic knowledge, develop practical skills, and meet experience requirements for the role.

  4. 4

    Pursue actuarial exams

    Begin taking professional actuarial exams offered by organizations like the Society of Actuaries (SOA) or Casualty Actuarial Society (CAS) to demonstrate expertise and advance in the field.

  5. 5

    Complete on-the-job training

    Engage in long-term on-the-job training to refine technical skills, understand industry-specific practices, and gain the experience needed for full qualification as an actuary.

  6. 6

    Obtain professional certification

    Achieve full certification by passing additional actuarial exams, meeting experience requirements, and fulfilling any continuing education obligations to advance to senior roles.

Entry Requirements

Becoming an actuary is a structured but demanding path that requires both formal education and hands-on experience. The entry pathway is moderately accessible if you have a strong foundation in mathematics. But it demands a bachelor’s degree, typically in a quantitative field like actuarial science, mathematics, or statistics, as a non-negotiable first step. Beyond education, you’ll need related work experience, which often means starting in entry-level roles like actuarial assistant or analyst to build practical skills. The field also expects several years of on-the-job training, meaning you’ll spend time learning industry-specific tools, regulations, and methodologies while working. While the path is clear, it’s not quick. Expect to invest years in education, exams, and progressive experience before reaching full qualification.

Preparation Requirements

O*NET Data
Becoming an actuary is a structured, multi-year process that blends formal education, hands-on experience, and extended on-the-job training to ensure readiness for the role. A bachelor’s degree, typically in mathematics, statistics, or a related field, provides the foundational analytical skills, but it’s only the starting point. Prior experience, often gained through internships or entry-level roles in finance or risk analysis, helps bridge the gap between theory and practical application. While long-term on-the-job training (often several years) refines expertise in actuarial methods, regulatory standards, and industry-specific tools. This combination signals that candidates are fully prepared only after 5–7 years of cumulative preparation, with the transition into day-to-day work marked by a shift from supervised tasks to independent problem-solving and decision-making under uncertainty.
1

Education Required

Bachelor's degree

2

On-the-Job Training

Long-term on-the-job training

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