Career Path Completion of the actuarial promotion process takes from five to ten years. The first rung on the advancement ladder is associate, followed by the fellowship level. Most actuaries reach the associate level within four to six years. Associates generally specialize in courses that lead to a career in life insurance, health insurance, investment, or pension services. Fellowship candidates usually have several years of experience.
Most actuaries complete the fellowship exams a few years after they become an associate.
Beginning actuaries often rotate between jobs to learn the ropes, which may include rotations in insurance marketing, underwriting, or product development. As they gain experience, they are given the opportunity to supervise clerks, prepare correspondence and reports, and do research. It is customary for actuaries to move from company to company as they advance. Outlook Anticipated downsizing and mergers in the insurance industry will likely hurt actuaries with little experience. Employment growth of actuaries in consulting is projected to be faster than that in the insurance industry, as insurance industry mergers have reduced the number of open actuarial positions, thought the booming health care industry may increase demand for actuaries that specialize in property and casualty, medical malpractice and workers' compensation.