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Visit AccessWashington, Washington State government portal

Occupation Details
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Actuaries

in Washington State

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 premium rates required and cash reserves necessary to ensure payment of future benefits.

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Wages

[Top]

Area	Year	Period	Percentiles					Hourly Average
Area	Year	Period	10th	25th	Median	75th	90th
Washington State	2010	Mar	$25.80	$31.03	$41.25	$55.90	$77.79	$46.91

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Short Term Employment Projections

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Area	Employment Projections		Change	Growth Rate %	Annual Avg Openings
	2009 2nd Qtr	2011 2nd Qtr
Washington State	398	397	-1	-0.1	9

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Employment Projections

[Top]

Area	Employment Projections		Change	% Change	Annual Avg Openings
	2008	2018
Washington State	404	416	12	3.0	13

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Training Programs

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Program Title

Actuarial Science

Educational Requirements

This occupation is in Job Zone Five: Extensive Preparation Needed .
Employees may need some on-the-job training, but most of these occupations assume that the person will already have the required skills, knowledge, work-related experience, and/or training.

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Actuaries

O*NET Characteristics

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Skills

Importance
(0-100)high

Competence Level

Mathematics

Active Learning

Complex Problem Solving

Critical Thinking

Active Listening

Time Management

Reading Comprehension

Judgment and Decision Making

Coordination

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Actuaries

Top 10 Tasks

Importance
(0-100)high

Ascertain premium rates required and cash reserves and liabilities necessary to ensure payment of future benefits.

Analyze statistical information to estimate mortality, accident, sickness, disability, and retirement rates.

Design, review and help administer insurance, annuity and pension plans, determining financial soundness and calculating premiums.

Collaborate with programmers, underwriters, accounts, claims experts, and senior management to help companies develop plans for new lines of business or improving existing business.

Determine or help determine company policy, and explain complex technical matters to company executives, government officials, shareholders, policyholders, or the public.

Testify before public agencies on proposed legislation affecting businesses.

Provide advice to clients on a contract basis, working as a consultant.

Testify in court as expert witness or to provide legal evidence on matters such as the value of potential lifetime earnings of a person who is disabled or killed in an accident.

Construct probability tables for events such as fires, natural disasters, and unemployment, based on analysis of statistical data and other pertinent information.

Determine policy contract provisions for each type of insurance.

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Actuaries

Top 10 Work Activities

Importance
(0-100)high

Getting Information

Processing Information

Analyzing Data or Information

Interacting With Computers

Identifying Objects, Actions, and Events

Making Decisions and Solving Problems

Updating and Using Relevant Knowledge

Organizing, Planning, and Prioritizing Work

Documenting/Recording Information

Evaluating Information to Determine Compliance with Standards

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Actuaries

Top 2 Work Values

Extent
(0-100)high

Working Conditions

Independence

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Actuaries

Top 2 Interests

Occupational Interest
(0-100)high

Conventional

100

Investigative

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Actuaries

Alternate Titles

Actuarial Analyst, Actuarial Assistant, Actuarial Associate, Actuarial Consultant, Actuarial Mathematician, Actuary, Consulting Actuary, Health Actuary, Insurance Actuary, Pricing Actuary, Pricing Analyst, Product Development Actuary

Top 15 Industries of Employment

[Top]

Industry Title

Number of Employers in State of Washington

Number Employed in Industry in 2007 in State of Washington

Percent of Total
Employment for Occupation in State of Washington

Growth Projection in State of Washington

Insurance Carriers

368

120

0.0%

N/A%