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Career and Education Opportunities for Actuaries in New York

New York has a population of 19,541,453, which has grown by 2.98% in the last 10 years. Nicknamed the "Empire State," its capital is Albany, though its biggest city is New York.

Currently, 1,510 people work as actuaries in New York. This is expected to grow 8% to 1,630 people by 2016. This is not quite as good as the nation as a whole, where employment opportunities for actuaries are expected to grow by about 21.4%. Actuaries generally analyze statistical data, such as mortality, accident, and retirement rates and construct probability tables to forecast risk and liability for payment of future benefits.

Income for actuaries is about $42 hourly or $87,570 per year on average in New York. Nationally, their income is about $40 per hour or $84,810 per year. Incomes for actuaries are better than in the overall category of Statistics Analysis in New York, and better than the overall Statistics Analysis category nationally. Actuaries work in a variety of jobs, including: actuarial mathematician, actuarial assistant, and health actuary.

In 2008, there were a total of 11,289,001 jobs in New York. The average annual income was $48,809 in 2008, up from $47,628 in 2007. The unemployment rate in New York was 8.4% in 2009, which has grown by 3.1% since the previous year. Approximately 27.4% of New York residents have college degrees, which is higher than the national average.

The top industries in New York include securities contracts intermediation, investment banking dealing, and apparel, piece goods, and notions merchant wholesalers. Notable tourist attractions include the 122nd St LLC, the 77 Gallery Limited, and the Adelson Galleries Inc.

CITIES WITH Actuary OPPORTUNITIES IN New York


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.

Similar jobs with educational opportunities in New York 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.

LOCATION INFORMATION: New York

New York
New York photo by William Warby

New York has a population of 19,541,453, which has grown by 2.98% over the past 10 years. Nicknamed the "Empire State," its capital is Albany, though its most populous city is New York. In 2008, there were a total of 11,289,001 jobs in New York. The average annual income was $48,809 in 2008, up from $47,628 the preceding year. The unemployment rate in New York was 8.4% in 2009, which has grown by 3.1% since the previous year. Approximately 27.4% of New York residents have college degrees, which is higher than the national average.

The top industries in New York include securities contracts intermediation, investment banking dealing, and apparel, piece goods, and notions merchant wholesalers. Notable tourist attractions include the Abigail Adams Smith Museum, the Asian American Arts Centre, and the Anthology Film Archives Administration.