Early Salary

3 - 4 L

Mid Salary

12 - 14 L

Senior Salary

Above 25 L

Academic Pressure


Job Pressure


An Actuary is an expert who applies statistical and mathematical methods to assess financial and other risks relating to various contingent events such as mortality, sickness, injury, retirement and property loss from theft, accident, fire or any other hazard. An actuary uses data analysis for valuation of financial products in the field of insurance, retirement and other employee benefits, investments, etc. Since contingent events by their very nature are hard to accurately predict, an actuary is also entrusted with the responsibility to ensure security of policyholders. S/he does that by ensuring the company is maintaining adequate financial resources so as to withstand higher than expected claims. The actuary designs insurance and pension plans, determines insurance premium rates and contract provisions for each type of policy offered. S/he also creates new and attractive policies for organisation’s growth.

What do they do?

As an actuary, you will be analyzing statistical data in order to calculate issues like accident rates for particular group of people. You will be using mathematical modeling techniques and statistical concepts to determine probability and assess risks in pension scheme liabilities, to price commercial insurance et al. As an actuary you will be presenting reports to managers advising them on risk limitations. You will also be working with IT professionals to develop systems to ensure compliance with the requirements of regulatory bodies. 

An actuary is a very important person in an economy. As an actuary you will have a vast work profile. A typical day would include following activities:
  • Conducting valuations of assets and liabilities 
  • Analysing on investment strategies and assessing the profitability of an investment portfolio
  • Preparing presentations, reports, valuations and quarterly updates
  • Calculating funding rates and considering assumptions for pension scheme liabilities
  • Measuring, monitoring and mitigating portfolio and enterprise risks

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Skills Needed

  • In-depth knowledge of statistics
  • A good head for mathematics
  • Good presentation skills
  • Analytical skills 

How do I get there?

You can begin your journey as an actuary by joining the Institute of Actuaries of India as a student member for which one needs to clear an actuarial common entrance test. This exam is conducted twice a year. You must clear class 12 exam or an equivalent exam with English as one of the subjects at class 12 level. After becoming a student member you need to take upto 15 actuarial exams. Also, you should be a member of a professional body like the Institute of Chartered Accountants of India.

Typical day in the life of a Actuary

9.30 am: Reach office
11:00 am: Assign work to the team
11.30 am: Analyse risks
3:00 pm: Meet clients
4.30 pm: Review meeting with junior colleagues
5:00 pm: Write reports
6.30 pm: Call it a day

Pros & Cons about this career

• Earnings are good • Great professional growth

• The slumping economy may hit your career • Time consuming work profile

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