The growing need to evaluate environmental risks and calculate prices for insuring facilities which carry such risks, such as underground storage tanks, will contribute to the demand for actuaries. Despite expected employment growth, actuaries may face competition for jobs. Due to favorable publicity about the actuarial profession, the number of workers entering this small occupation has increased substantially in recent years, while at the same time, demand is expected to slow due to slower growth in the insurance industry. New college graduates entering the actuarial field without having passed any actuarial exams averaged slightly lower salaries. Insurance companies and consulting firms give merit increases to actuaries as they gain experience and pass examinations.
Some companies also offer cash bonuses for each exam passed.
Fellows with additional years of experience can earn substantially more. Actuaries typically receive other benefits including vacation and sick leave, health and life insurance, and pension plans. Related Occupations Actuaries determine the probability of income or loss from various risk factors. Other workers whose jobs involve related skills include accountants, economists, financial analysts, mathematicians, rate analysts, rate engineers, risk managers, statisticians, and value engineers. These files are in the public domain and may be freely reproduced.