Actuaries: Salary, Job Outlook & How to Become One (2026 Parent Guide)
Computer and Mathematical · SOC 15-2011 · O*NET 15-2011.00
Actuaries fall under the Computer and Mathematical category in the U.S. occupational classification. Actuaries earn a median salary of $125,770 per year, ranking in the top 5% of all U.S. occupations. The Bureau of Labor Statistics projects +21.8% job growth through 2034, projected to grow far faster than the US average. Entry into this field typically requires a bachelor's degree, with specific licensing or certification depending on the state and employer. For parents whose teenager is exploring this path, the most actionable step is mapping the education requirements to specific colleges and majors before junior year — not waiting until application season.
What parents should know about actuaries right now
Actuaries use math, statistics, and finance to put a price on risk for insurers, pension plans, healthcare systems, and increasingly tech and climate firms. According to the U.S. Bureau of Labor Statistics, the median annual wage for actuaries was $125,770 in May 2024, and actuaries held about 33,600 jobs that year. BLS projects employment will grow a remarkable 22 percent from 2024 to 2034, much faster than the average for all occupations, which is one of the strongest growth rates among well-paid professions. The path begins with a bachelor's degree in mathematics, actuarial science, statistics, economics, or a similar analytical field, followed by a long sequence of professional exams from the Society of Actuaries (SOA) or Casualty Actuarial Society (CAS). Many candidates pass two or three exams while still in college, then continue earning credentials on the job, with employers typically supporting study time and exam fees. The defining current trend is the expansion of actuarial work into AI-driven modeling, climate risk, and cyber risk. Industry recruiters report that actuaries with hybrid skills in machine learning and climate or cyber modeling are among the most sought-after, and the unemployment rate for the profession remains under 1 percent. For a teen who loves AP Statistics, calculus, probability, or chess-like strategy problems, actuarial science is a particularly stable, high-paying option that does not require a graduate degree to launch.
What do actuaries earn?
The median annual wage for actuaries is $125,770. That puts actuaries at #45 on the BLS ranked list of all U.S. occupations by median pay. Pay at this level is well above the U.S. median household income, signaling sustained demand and meaningful credential requirements. Actual pay varies meaningfully by state, employer type, and years of experience — entry-level salaries are typically 30–40% below the median, while top-decile earners often exceed it by 50% or more.
Is actuaries a growing career?
The 10-year outlook for actuaries is +21.8%, projected to grow far faster than the US average. Employment is projected to move from approximately 33K positions in 2024 to 40K in 2034, a net change of 7K. Very fast growth indicates significant talent shortages and unusually strong hiring momentum — often the most resilient outlook a teenager can plan toward.
What education does my child need to become actuarie?
The standard path into actuaries begins with a bachelor's degree in a related field, followed by entry-level experience or internships during college. For parents helping a teen prepare, the highest-leverage step before junior year is identifying colleges and programs that feed reliably into this occupation — Solyo's college search lets parents filter by major and admissions data side by side.
Related careers your child might also consider
How parents help teens explore careers like this
Solyo helps parents map a teen's interests to specific careers, then back to the colleges and majors that lead there. Salary, outlook, and education data come from BLS and O*NET — the same sources high school counselors use — but presented for the parent's planning lens, not the student's exploration view.
Common questions parents ask about actuaries
What is the median salary for actuaries?
The median annual salary for actuaries is $125,770 according to the latest Bureau of Labor Statistics data.
Is actuaries a growing career?
BLS projects +21.8% growth for actuaries from 2024 through 2034, which is very fast growth projected to grow far faster than the US average.
What education does my child need to become actuarie?
The typical entry path requires a bachelor's degree, plus any state licensure or certification specific to the role. Programs that align well with this career can be filtered inside Solyo's college search.
What careers are similar to actuaries?
Related occupations within the Computer and Mathematical category share education paths and skill profiles, so they're a useful starting set when a teen is uncertain. The "Related careers" section below lists nearby options.
Salary data sourced from the U.S. Bureau of Labor Statistics Occupational Employment Statistics program. Skills, tasks, and education distribution from the O*NET database. Job outlook from the BLS Employment Projections 2024–2034 release.