Actuarial Consultant

(Mathematical Economics Major)

New York City vs. Charlotte

BRENDAN WOOD

Overview of Actuary
Ascertain premium rates required and cash reserves and liabilities
necessary to ensure payment benefits
Determine company policy, and explain complex technical matters
to company executives or the public
Design, review and help administer insurance, annuity and pension
plans, determining financial soundness and calculating premiums
Analyze statistical information to estimate mortality, accident,
sickness, disability, and retirement rates
Provide advice to clients on a contract basis, working as a consultant

New York City

($62,000)

Actuary with 2 Exams

finished and starting salary

Charlotte
($56,000)

$3,000

Apartment for Two

(utilities included)

$1800

$270

Groceries

$250

$113.50

Monthly Train Pass

$80

$150

Restaurants
(eating out 4 X month)

$100

$335

Health Insurance

$245

$65

Basketball Tickets
(entertainment)

$60

$120.96

Gas
(Filling up twice a month)

$102.81

$100

Gym Membership

$50

6.45%

Sales Tax

7%

$26, 165

Disposable Income

$30,636

Graduate School
Becoming an actuary is all about
passing the exams
Graduate school is not required and
will not necessarily give you an
increase in salary
For ones own discretion, going to
graduate school may ease the
studying when it comes preparing for
the exams

Actuarial Exams
For every hour of an exam, the
average student studies 100 hours
Requires discipline to sit down and
do practice problems
While the money one would spend on
graduate school will not be a burden
for actuarial interns, the study books
and coursed can be expensive