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Career and Education Opportunities for Actuaries in Tallahassee, Florida

Actuaries can find many career and educational opportunities in the Tallahassee, Florida area. Currently, 410 people work as actuaries in Florida. This is expected to grow by 26% to about 510 people by 2016. This is better than the national trend for actuaries, which sees this job pool growing by about 21.4% over the next eight years. In general, actuaries analyze statistical data, such as mortality, accident, and retirement rates and construct probability tables to forecast risk and liability for payment of future benefits.

A person working as an actuary can expect to earn about $40 hourly or $84,730 per year on average in Florida and about $40 per hour or $84,810 annually on average in the U.S. as a whole. Incomes for actuaries are better than in the overall category of Statistics Analysis in Florida, and better than the overall Statistics Analysis category nationally. Jobs in this field include: pricing analyst, actuarial mathematician, and pricing actuary.

There are nine schools of higher education in the Tallahassee area, including one within twenty-five miles of Tallahassee where you can get a degree to start your career as an actuary. Given that the most common education level for actuaries is a Bachelor's degree, you can expect to spend about four years training to become an actuary if you already have a high school diploma.


Actuary video from the State of New Jersey Dept. of Labor and Workforce Development

In general, actuaries analyze statistical data, such as mortality, accident, and retirement rates and construct probability tables to forecast risk and liability for payment of future benefits. They also may ascertain premium rates required and cash reserves necessary to ensure payment of future benefits.

Actuaries ascertain premium rates required and cash reserves and liabilities needed to insure payment of future benefits. They also decide on or help decide on company policy, and explain complex technical matters to company executives or the public. Equally important, actuaries have to analyze statistical data to estimate mortality and retirement rates. They are often called upon to collaborate with programmers and senior management to help companies design plans for new lines of business or improving existing business. They are expected to testify in court as expert witnesses or to furnish legal evidence on matters such as the value of potential lifetime earnings of a person who is disabled or killed in an accident. Finally, actuaries testify before public agencies on proposed legislation affecting businesses.

Every day, actuaries are expected to be able to deal with basic arithmetic problems. They need to articulate ideas and problems. It is also important that they read and understand documents and reports.

It is important for actuaries to furnish advice to customers on a contract basis, working as a consultant. They are often called upon to decide on policy contract provisions for each type of insurance. They also decide on equitable basis for distributing surplus earnings under participating insurance and annuity contracts in mutual companies. They are sometimes expected to furnish expertise to help financial institutions manage risks and maximize returns associated with investment products or credit offerings. Somewhat less frequently, actuaries are also expected to oversee credit and help price corporate security offerings.

Actuaries sometimes are asked to construct probability tables for events such as fires and unemployment, on the basis of analysis of statistical data and other pertinent data. and explain changes in contract provisions to clients. And finally, they sometimes have to furnish advice to customers on a contract basis, working as a consultant.

Like many other jobs, actuaries must be able to absorb the factors involved and a problem and provide a well thought out solution and have exceptional integrity.

Similar jobs with educational opportunities in Tallahassee include:

  • Operations Research Analyst. Formulate and apply mathematical modeling and other optimizing methods using a computer to develop and interpret information that assists management with decision making, policy formulation, or other managerial functions. May develop related software, service, or products. Frequently concentrates on collecting and analyzing data and developing decision support software. May develop and supply optimal time, cost, or logistics networks for program evaluation, review, or implementation.


Florida State University - Tallahassee, FL

Florida State University, 211 Westcott Bldg, Tallahassee, FL 32306-1037. Florida State University is a large university located in Tallahassee, Florida. It is a public school with primarily 4-year or above programs. It has 38,717 students and an admission rate of 47%. Florida State University has a bachelor's degree program in Actuarial Science which graduated eighteen students in 2008.


Certified Pension Consultant: The Certified Pension Consultant (CPC) credential is designed for benefits professionals working in plan administration, pension actuarial administration, insurance, and financial planning.

For more information, see the American Society of Pension Professionals and Actuaries website.

Qualified 401(k) Administrator: The Qualified 401(k) Administrator (QKA) credential is conferred by ASPPA to retirement plan professionals who work primarily with 401(k) plans.

For more information, see the American Society of Pension Professionals and Actuaries website.

Associateship in the Casualty Actuarial Society: Candidates for Associateship in the Casualty Actuarial Society must fulfill the examination requirements by successful completion of, or credit for, Exams 1-7, and have credit by Validation by Educational Experience (VEE) for the required topics of economics, corporate finance, and applied statistical methods.

For more information, see the Casualty Actuarial Society website.

Associate of the Society of Actuaries: An Associate of the Society of Actuaries has demonstrated knowledge of the fundamental concepts and techniques for modeling and managing risk.

For more information, see the Society of Actuaries website.

LOCATION INFORMATION: Tallahassee, Florida

Tallahassee, Florida
Tallahassee, Florida photo by Diligent Terrier

Tallahassee is located in Leon County, Florida. It has a population of over 171,922, which has grown by 14.1% over the last ten years. The cost of living index in Tallahassee, 89, is well below the national average. New single-family homes in Tallahassee are priced at $166,600 on average, which is far less than the state average. In 2008, three hundred new homes were built in Tallahassee, down from six hundred thirty-eight the previous year.

The three big industries for women in Tallahassee are educational services, public administration, and health care. For men, it is public administration, educational services, and accommodation and food services. The average commute to work is about 19 minutes. More than 45.0% of Tallahassee residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 19.8%, is higher than the state average.

The unemployment rate in Tallahassee is 7.1%, which is less than Florida's average of 11.3%.

The percentage of Tallahassee residents that are affiliated with a religious congregation, 37.6%, is less than both the national and state average. Abundant Life Foursquare Church, Advent Episcopal Church and Aftermath Church are among the churches located in Tallahassee. The most common religious groups are the Southern Baptist Convention, the Catholic Church and the United Methodist Church.

Tallahassee is home to the Miracle Plaza and the Tallahassee Community College Library as well as Old Fort Park and Alfred B Maclay Gardens State Park. Shopping malls in the area include Northwood Mall, Parkway Shopping Center and Tallahassee Mall. Visitors to Tallahassee can choose from Cactus Motel, Best Western Pride Inn Suites and Budget Inn for temporary stays in the area.