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Career and Education Opportunities for Actuaries in Utah

Utah has a population of 2,784,572, which has grown by 24.69% in the last 10 years. Nicknamed the "Beehive State," Utah's capital and biggest city is Salt Lake City.

There are currently seventy jobs for actuaries in Utah and this is projected to grow by 22% to about ninety jobs by 2016. This is better than 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.

A person working as an actuary can expect to earn about $36 per hour or $76,220 yearly on average in Utah and about $40 per hour or $84,810 yearly on average in the U.S. as a whole. Earnings for actuaries are better than earnings in the general category of Statistics Analysis in Utah and better than general Statistics Analysis category earnings nationally. Actuaries work in a variety of jobs, including: actuarial mathematician, actuarial associate, and pricing actuary.

In 2008, there were a total of 1,702,493 jobs in Utah. The average annual income was $32,050 in 2008, up from $31,800 in 2007. The unemployment rate in Utah was 6.6% in 2009, which has grown by 2.9% since the previous year. About 26.1% of Utah residents have college degrees, which is higher than the national average.

The top industries in Utah include activities related to credit intermediation, nonferrous metal production, and sporting goods manufacturing. Notable tourist attractions include the Utah State Government, the Utah Museum of Arts & History, and the Children's Museum of Utah.

CITIES WITH Actuary OPPORTUNITIES IN Utah


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 Utah 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: Utah

Utah
Utah photo by the U.S. National Park Service

Utah has a population of 2,784,572, which has grown by 24.69% in the last 10 years. Nicknamed the "Beehive State," Utah's capital and biggest city is Salt Lake City. In 2008, there were a total of 1,702,493 jobs in Utah. The average annual income was $32,050 in 2008, up from $31,800 in 2007. The unemployment rate in Utah was 6.6% in 2009, which has grown by 2.9% since the previous year. Approximately 26.1% of Utah residents have college degrees, which is higher than the national average.

The top industries in Utah include activities related to credit intermediation, nonferrous metal production, and sporting goods manufacturing. Notable tourist destinations include the Utah State Government, the Hogle Zoo, and the Utah Museum of Natural History.