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Career and Education Opportunities for Actuaries in Indiana

Indiana has a population of 6,423,113, which has grown by 5.63% in the last 10 years. Nicknamed the "Hoosier State," Indiana's capital and biggest city is Indianapolis.

There are currently 440 working actuaries in Indiana; this should grow by 37% to 610 working actuaries in the state by 2016. This is better than the nation as a whole, where employment opportunities for actuaries are expected to grow by about 21.4%. 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.

Actuaries earn about $48 per hour or $101,110 annually on average in Indiana and about $40 hourly or $84,810 yearly on average nationally. Actuaries earn more than people working in the category of Statistics Analysis generally in Indiana and more than people in the Statistics Analysis category nationally. People working as actuaries can fill a number of jobs, such as: pricing analyst, pricing actuary, and insurance actuary.

In 2008, there were a total of 3,718,148 jobs in Indiana. The average annual income was $34,543 in 2008, up from $33,702 the preceding year. The unemployment rate in Indiana was 10.1% in 2009, which has grown by 4.3% since the previous year. Approximately 19.4% of Indiana residents have college degrees, which is lower than the national average.

The top industries in Indiana include manufacturing, primary metal manufacturing, and iron mills manufacturing.

CITIES WITH Actuary OPPORTUNITIES IN Indiana


JOB DESCRIPTION: Actuary

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.

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.

LOCATION INFORMATION: Indiana

Indiana
Indiana photo by Jasssmit

Indiana has a population of 6,423,113, which has grown by 5.63% over the past decade. Nicknamed the "Hoosier State," Indiana's capital and most populous city is Indianapolis. In 2008, there were a total of 3,718,148 jobs in Indiana. The average annual income was $34,543 in 2008, up from $33,702 the previous year. The unemployment rate in Indiana was 10.1% in 2009, which has grown by 4.3% since the previous year. Roughly 19.4% of Indiana residents have college degrees, which is lower than the national average.

The top industries in Indiana include manufacturing, primary metal manufacturing, and iron mills manufacturing.