The Actuarial Science Graduate; Challenges and Prospects
For the most part, the situation is favorable for the actuarial science graduate and they’re going to have a much easier journey to employment than many of their other fellow recent college graduates; Challenges and prospects manage to mostly balance themselves. However, finding a job for just about everyone in this economy is difficult, and it is particularly difficult for the recent college graduates who are entering the economy with a lot of education and little to no job experience. Many college graduates have to more or less work for free in order to get the work experience that could one day grant them the jobs that they want. The The actuarial science graduate is probably no exception.
Actual actuaries can make nearly six figures, and their job outlook is good in that the profession is growing and expected to continue growing. However, there are only around twenty-four thousand jobs for actuaries in the United States, so finding the secure and highly paid actuarial job can be difficult for the people who are trying to go down this route. An actuarial technician is going to make around sixty thousand dollars a year or so. However, once again, the job opportunities are not as broad as the job opportunities in many other fields.
The challenges and prospects for the actuarial science graduate are complicated by the fact that actually getting onto a career path can be difficult in this day and age. Many of the established and high-ranking actuaries are not retiring, and many of the spots on the career ladder have already been taken. Lots of entry-level jobs are actually gone today and they have been replaced by unpaid internships. Unpaid internships sometimes never actually lead to jobs, so many young people can plug away at them for years without actually earning paid employment down the line.
One of the other problems with the actuarial science degree is that it does not qualify people for a lot of other jobs. Some majors are so fluid that people can apply for a lot of different jobs in a lot of different careers and they can still expect to secure those jobs, using their experience to transfer over to different types of employment. However, the people in the actuarial field are largely qualified to work in the actuarial field. They are going to be too qualified for a lot of different jobs, and they are not going to have relevant work experience for many of the other jobs that they may want.
Some people who have actuarial science degrees are going to have no choice but to try to find a job in the field, even though the field is still crowded and the job opportunities for the people starting at the bottom are so minimal. However, the job opportunities are expected to increase. Actuarial science graduates are still skilled in math and other technical abilities that may allow them to find some backup employment. People in this field might have a hard time at first, but everything should pay off eventually.