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High Job Satisfaction

Below are several articles from the web that explain why Actuary is a highly satisfying career:

  • Doing the Math to Find the Good Jobs, Jan 6, 2009,Wall Street Journal
  • Ten Jobs that pay $80,000 a year, Nov 12, 2008,  CareerBuilder.com
  • Hot Job Nows, August 29, 2003, CNN Money
  • The Jobs Rated Almanac, which ranks professions and occupations, rated actuary consistently as one of the BEST jobs in North America for 6 consecutive issues: These rankings were based on 250 occupations in terms of stress, compensation, autonomy at work, hiring demand and several other key criteria.
Widely Recognized Across the Globe

Qualification and experience of Actuary are transferable between continents. Most actuarial bodies in the world have agreement in mutual recognition. For example, FCIA from Canada can apply to become FIA and work in UK and vice versa. A friend of mine started his career in US and is now working in India as expatriate!

Therefore, it is very common for Actuaries in North America to work in US for ten years and then migrate to Canada for the next ten years and vice versa. The mobility is even greater in Asia from what I learned. According to Malaysian Actuaries Association, while one home-grown actuary becomes qualified; two Malaysian actuaries leave the country and work elsewhere mainly in Hong Kong, mainland China, Taiwan, Japan, and other countries.

Add on to that, there is a very competitive head hunter industry specialized in helping actuary to relocate and these recruiting companies have been expanded globally. Most of them maintain a complete database of actuaries and employers worldwide and they can quickly find a good match when opportunities come up.

Value Increases with Age

Actuary is one of the careers that do not go obsolete with age. The older you are the more experience you get, the more valuable you are to the company and of course the higher compensation you will receive. (Of course this is before your retirement)

This has to do with the fact that the higher rank you advance in the corporate ladder, the more decision you will need to make and a good actuarial judgement comes from experience.

Great Prospect

According to US Bureau of Labor Statistics, employment of actuaries is expected to increase by about 24% over 2006 to 2016. And the growth is much faster than the average of all other occupations.

According to the Actuarial Society of Malaysia, for its estimated 24 million of population, Malaysia will need at least 100 Actuaries and currently, there are around 40 qualified actuaries in Malaysia as of 2008.

According to the News from Jing Hua Shi Bao, currently China has around 90 Actuaries and in few years China will need more actuaries.

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