Actuaries

7.4/10 job score
AUTOMATION RISK
21%
risk level
POLLING
GROWTH
24.5%
by 2030
WAGES
$111,030
or $53.38 hourly
VOLUME
22,480
as of 2020

What is the risk of automation?

We calculate this occupation to have an automation risk score of 21% (No worries)

[More info]
Qualities required for this occupation:
Originality
Negotiation
Persuasion
Key
very important
quite important
[Show all metrics]

What do you think the risk of automation is?

How likely do you think this occupation will be taken over by robots/AI within the next 20 years?

How quickly is this occupation growing?

The number of 'Actuaries' job openings is expected to rise 24.5% by 2030
'Actuaries' is expected to be a very fast growing occupation in comparison to other occupations.
* Data from the Bureau of Labor Statistics for the period between 2020 and 2030.
Updated projections are due Sep 2022.

What are the median wages for 'Actuaries' in the United States?

In 2020 the median annual wage for 'Actuaries' was $111,030, or $53.38 hourly
'Actuaries' are paid 164.7% higher than the national median wage, which stands at $41,950
* Data from the Bureau of Labor Statistics

How many people are employed in this occupation?

As of 2020 there were 22,480 people employed as Actuaries.
This represents around 0.02% of the employed workforce across the United States.

Job description

Analyze statistical data, such as mortality, accident, sickness, disability, and retirement rates and construct probability tables to forecast risk and liability for payment of future benefits. May ascertain insurance rates required and cash reserves necessary to ensure payment of future benefits.

SOC Code: 15-2011.00

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Comments

human (No chance) says
The automation of analysis and modeling is a great and useful tool for actuaries. There will always be a need for humans to study actuarial science because we will never achieve a final, perfect model (and if we did, we could let the robots take over!). To achieve a perfect model, all relevant pieces of information regarding how every individual human being will make every future decision must be known. This is obviously impossible, so sorry robots.

Because more data is being generated and analysis tools are improving constantly, the practice of improving actuarial models will be profitable for employers of actuaries. As long as actuaries continue to study and update actuarial assumptions and modeling techniques they will have a very important and well-compensated role in the workforce.
Oct 28, 2020 at 06:00 AM
Bernard Everstein (Highly likely) says
Its literally a job focussed around data analysis... that's what computers are for
Oct 20, 2020 at 08:53 PM
sarina tang says
Its analysing statistical data which AI's can already do
May 02, 2020 at 12:31 PM
Mario says
There's a lot of common sense behind it that you need someone there for
Nov 23, 2020 at 05:06 AM
Rob the Robot says
101010101010101010101010101010101010101010101010101010101010010101010101beep beep, I would not be so sure beep boop. I am coming for your job. beep beep
101010101000110001110001001001-100101001001001010101010
Dec 20, 2019 at 01:59 AM

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