We estimate it will take most candidates about four years to achieve their associateship and seven to eight years to achieve fellowship. Actuaries enter the profession by taking a series of examinations. It could take from 6-10 years to pass all of the exams, but you could begin a career as an actuary by passing the first two exams, and then taking subsequent exams while working as an actuarial assistant. We are very optimistic about the job market over the next few years. We see a continued high demand, especially for entry-level actuaries.
Most actuaries live and work in urban areas where financial firms are located.
In the U.S., the Northeast and the Midwest have the highest number of actuaries and in Canada, Toronto, Montreal and Quebec are the centers for actuarial work. Actuarial science, math, statistics, economics, business and finance degrees are all good training for an actuarial career. Actuaries come from a variety of educational backgrounds. Actuaries may have majors in areas other than math, such as operations research, physics, engineering, and even fine arts. You would be surprised at the variety of backgrounds actuaries have.