The distinctive feature of the actuary's approach is that it involves the evaluation of risk. Actuaries are essential to insurance companies where they perform task ranging from the calculation of premiums to researching appropriate ways to invest the company's assets. Aside from the traditional area of employment in insurance companies, actuaries also work in a variety of other areas. A large number of actuaries work as consultants providing professional advice relating to pension funds and other employee benefits. Other areas where actuaries work include the stock exchange and the government.
Actuaries draw upon a wide variety of skills which often range beyond traditional actuarial ideas.
These may include areas such as marketing, the environment, law or computers. Actuaries are highly paid. The difficultly in qualifying as an actuary restricts the supply, while there is a growing demand for the services of actuaries. The actuaries job often carries with it a large amount of responsibility for significant amounts of money. For these and other reasons actuaries tend to have high incomes.