Actuary Named Top Job of 2015
The actuarial profession has been ranked the top job in the US out of 200 roles ranked by online recruitment site CareerCast.com.
It’s rating of the best jobs for 2015 evaluated factors such as income, work environment, stress and hiring outlook. It reported the average income of an actuary was $94,209.
Gravitas’ Managing Director for Asia, Daniel Wallis, commented as follows:
It comes as no surprise that the actuarial profession has been named the Top job in the US.
Within Asia, we continue to see high demand for actuarial professionals across all facets of insurance with supply clearly outweighing demand. Whilst the matured markets within Asia continue to hire through a mixture of growth and internal compliance obligations (regulatory compliance/ reporting chords / IFRS advancement). The emerging Asian markets also continue to show an increase in uptake in premiums as well as a growing product stack. Such growth offers further opportunities at both country and regional level and gives rise to higher than average opportunities of internal (or external) rotations (or moves) into other International business units.
Actuaries also enjoy the enviable position of having a far higher opportunity than that of the industry average of internal job function rotation. Actuaries, especially junior-mid level professionals, are likely to be presented with opportunities of rotation and exposure into multiple actuarial disciplines including pricing, valuation and Risk / ALM management. Such opportunities are driven by employer initiatives to aid retention and succession but in turn benefits the career of an actuarial professional.
Simply put an aspiring actuary has the opportunity of a diverse career path within a growing industry allowing for numerous opportunities at local and international level. Naturally these supply and demand curves, in addition to creating an abundance of jobs also result in a strong, progressive and robust compensation and benefits schemes for actuarial professionals.