Hi its me again with another question.
Okay, i've heard a lot about how well paid actuaries are but i nevery actually got a chance to directly ask actuaries. From what my aunt told me you get paid as well as doctors(200k+/year). So is this really true? What would you guys say the normal pay scales are?
And if this is true and actuaries are paid so well, why are there so few actuaries?
I mean i understand the exams are hard but its also hard to get into medical isnt it? Yet there are many doctors and few actuaries. Is there a reason for this?
Thank you for your time
That salary is true for an FSA with solid experience. A typical starting salary for 1 exam passed is about 45-55 thousand. Some companies give bonuses and small raises for each exam passed, others give no bonus but large raises; it all depends on the company.
Being a doctor or lawyer is much more prestigious and attractive because of the glamour; but doctor's and lawyers also but in a lot of overtime that actuaries do not have to do. If you don't mind to lack of glamour and excitement but do like the good pay, normal hours, and low stress, being an actuary is a fine profession.