{"id":7968,"date":"2025-06-16T08:00:21","date_gmt":"2025-06-16T08:00:21","guid":{"rendered":"https:\/\/analystprep.com\/blog\/?p=7968"},"modified":"2026-03-18T10:01:42","modified_gmt":"2026-03-18T10:01:42","slug":"how-to-become-an-actuary","status":"publish","type":"post","link":"https:\/\/analystprep.com\/blog\/how-to-become-an-actuary\/","title":{"rendered":"How to Become an Actuary: A Smart Career Move in Numbers"},"content":{"rendered":"\n<script type=\"application\/ld+json\">\n{\n  \"@context\": \"https:\/\/schema.org\",\n  \"@type\": \"VideoObject\",\n  \"name\": \"Covariance and Correlation (SOA Exam P \u2013 Probability \u2013 Multivariate Random Variables)\",\n  \"description\": \"Master covariance and correlation for SOA Exam P. Learn covariance properties, when it can be negative, independence and zero covariance, the correlation coefficient\u2019s interpretation, and worked exam-style examples.\",\n  \"uploadDate\": \"2023-07-05\",\n  \"thumbnailUrl\": \"https:\/\/i.ytimg.com\/vi\/tx8W4mbAm1I\/maxresdefault.jpg\",\n  \"contentUrl\": \"https:\/\/www.youtube.com\/watch?v=tx8W4mbAm1I\",\n  \"embedUrl\": \"https:\/\/www.youtube.com\/embed\/tx8W4mbAm1I?si=se60BJJAKT1_MQkg\",\n  \"duration\": \"PT18M51S\"\n}\n<\/script>\n\n<script type=\"application\/ld+json\">\n{\n  \"@context\": \"https:\/\/schema.org\",\n  \"@type\": \"VideoObject\",\n  \"name\": \"Policy Modifications (SOA Exam P \u2013 Probability \u2013 Univariate Random Variables)\",\n  \"description\": \"Master Exam P deductible questions with exponential losses. Learn the memoryless property, payment-per-loss vs payment-per-payment, expected insurer payments, expected insured payments, and common pitfalls.\",\n  \"uploadDate\": \"2023-03-22\",\n  \"thumbnailUrl\": \"https:\/\/i.ytimg.com\/vi\/rIezvf2By5U\/maxresdefault.jpg\",\n  \"contentUrl\": \"https:\/\/www.youtube.com\/watch?v=rIezvf2By5U\",\n  \"embedUrl\": \"https:\/\/www.youtube.com\/embed\/rIezvf2By5U?si=66mEniYBdqCTyKhs\",\n  \"duration\": \"PT24M22S\"\n}\n<\/script>\n\n<script type=\"application\/ld+json\">\n{\n  \"@context\": \"https:\/\/schema.org\",\n  \"@type\": \"VideoObject\",\n  \"name\": \"The Time Value of Money (Actuarial Exam FM \u2013 Financial Mathematics \u2013 Module 1, Section 1, Part 1)\",\n  \"description\": \"Master the Time Value of Money for SOA Exam FM. Learn timelines, consistent time units, PV\u2194FV relationships, discounting vs accumulating, and exam-style framing of time units.\",\n  \"uploadDate\": \"2019-10-09\",\n  \"thumbnailUrl\": \"https:\/\/i.ytimg.com\/vi\/vaIqxP437bs\/maxresdefault.jpg\",\n  \"contentUrl\": \"https:\/\/www.youtube.com\/watch?v=vaIqxP437bs\",\n  \"embedUrl\": \"https:\/\/www.youtube.com\/embed\/vaIqxP437bs?si=1abtYpmqqOxKoVaO\",\n  \"duration\": \"PT14M05S\"\n}\n<\/script>\n\n<script type=\"application\/ld+json\">\n{\n  \"@context\": \"https:\/\/schema.org\",\n  \"@type\": \"VideoObject\",\n  \"name\": \"Basic Probability Part 1 (SOA Exam P \u2013 Probability \u2013 General Probability Module)\",\n  \"description\": \"Kick off the General Probability Module for SOA Exam P. This lesson uses a farmer survey to introduce sample space, events, overlaps, and inclusive \u201cor.\u201d You\u2019ll learn how to read problem data, sketch a Venn diagram, fill regions step by step, and reason out proportions without memorizing rules.\",\n  \"uploadDate\": \"2021-05-18\",\n  \"thumbnailUrl\": \"https:\/\/i.ytimg.com\/vi\/aJtM6QHzrGw\/maxresdefault.jpg\",\n  \"contentUrl\": \"https:\/\/www.youtube.com\/watch?v=aJtM6QHzrGw\",\n  \"embedUrl\": \"https:\/\/www.youtube.com\/embed\/aJtM6QHzrGw?si=fWzZk8TCYz11gHuM\",\n  \"duration\": \"PT16M32S\"\n}\n<\/script>\n\n\n\n\n<script type=\"application\/ld+json\">\n{\n  \"@context\": \"https:\/\/schema.org\",\n  \"@type\": \"FAQPage\",\n  \"mainEntity\": [\n    {\n      \"@type\": \"Question\",\n      \"name\": \"What exams are required to become an actuary?\",\n      \"acceptedAnswer\": {\n        \"@type\": \"Answer\",\n        \"text\": \"Most actuaries begin with Exam P (Probability) and Exam FM (Financial Mathematics). These are the first in a series of about 6 to 10 exams required for SOA or CAS certification, along with additional modules, VEE credits, and a professionalism course.\"\n      }\n    },\n    {\n      \"@type\": \"Question\",\n      \"name\": \"How many actuarial exams do I need to pass?\",\n      \"acceptedAnswer\": {\n        \"@type\": \"Answer\",\n        \"text\": \"To earn an Associate-level credential such as ASA or ACAS, you typically need to pass 6 to 7 exams. For Fellowship designations like FSA or FCAS, you can expect to complete about 9 to 10 exams in total, depending on your chosen specialization.\"\n      }\n    },\n    {\n      \"@type\": \"Question\",\n      \"name\": \"What\u2019s the difference between SOA and CAS?\",\n      \"acceptedAnswer\": {\n        \"@type\": \"Answer\",\n        \"text\": \"The Society of Actuaries focuses on life insurance, health, pensions, and enterprise risk management, while the Casualty Actuarial Society specializes in property and casualty lines such as auto and homeowners insurance. The first few exams, including P and FM, are shared so you can choose your path later.\"\n      }\n    },\n    {\n      \"@type\": \"Question\",\n      \"name\": \"Can I become an actuary without a math degree?\",\n      \"acceptedAnswer\": {\n        \"@type\": \"Answer\",\n        \"text\": \"Yes. Although majors such as actuarial science, statistics, or mathematics are helpful, many actuaries come from backgrounds like engineering, economics, finance, or computer science. Your ability to pass the actuarial exams matters more than your exact degree title.\"\n      }\n    },\n    {\n      \"@type\": \"Question\",\n      \"name\": \"How long does it take to become an actuary?\",\n      \"acceptedAnswer\": {\n        \"@type\": \"Answer\",\n        \"text\": \"It usually takes between 6 and 10 years to become a fully certified actuary, either FSA or FCAS. Many candidates, however, start working in actuarial roles after passing just one or two exams and then continue to study while working full time, taking about one or two exams per year.\"\n      }\n    }\n  ]\n}\n<\/script>\n\n\n\n<p>Actuaries aren\u2019t just number crunchers \u2014 they\u2019re decision-makers behind some of the most critical financial systems in the world. If you&#8217;re analytical, detail-oriented, and want a career that combines math with real-world impact, becoming an actuary might be the perfect path for you.<\/p>\n\n\n\n<p>It\u2019s not just theory either. The actuarial profession ranks consistently among the top careers for job satisfaction, stability, and earning potential. According to <em>Canadian Business<\/em>, actuaries were among the top 20 best careers in recent years \u2014 and the demand hasn\u2019t slowed down.<\/p>\n\n\n\n<p>The profession has seen an 87% growth in just the past five years. With employers across insurance, finance, healthcare, and tech actively hiring actuaries, the odds are in your favor.<\/p>\n\n\n\n<p>So, how do you become one?<\/p>\n\n\n\n<p>This guide walks you through every step; from choosing your degree to passing your first actuarial exam. Whether you&#8217;re just starting out or switching careers, we\u2019ll show you the clearest path to becoming a credentialed actuary.<\/p>\n\n\n\n<p>Thinking of becoming an actuary? Start your journey with<a href=\"https:\/\/analystprep.com\/shop\/actuarial-exams-complete-courses-by-analystprep\/\"> AnalystPrep\u2019s Actuarial Exam Study Packages<\/a> \u2013 built to help you pass faster and smarter.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_80 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/analystprep.com\/blog\/how-to-become-an-actuary\/#What_Does_an_Actuary_Do\" >What Does an Actuary Do?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/analystprep.com\/blog\/how-to-become-an-actuary\/#Common_Tasks_Include\" >Common Tasks Include:<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/analystprep.com\/blog\/how-to-become-an-actuary\/#How_to_Become_an_Actuary_Step-by-Step\" >How to Become an Actuary (Step-by-Step)<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/analystprep.com\/blog\/how-to-become-an-actuary\/#Step_1_Earn_a_Bachelors_Degree\" >Step 1: Earn a Bachelor\u2019s Degree<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/analystprep.com\/blog\/how-to-become-an-actuary\/#Step_2_Pass_Your_First_Actuarial_Exams\" >Step 2: Pass Your First Actuarial Exams<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/analystprep.com\/blog\/how-to-become-an-actuary\/#Step_3_Complete_VEE_Requirements\" >Step 3: Complete VEE Requirements<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/analystprep.com\/blog\/how-to-become-an-actuary\/#Step_4_Gain_Internship_or_Entry-Level_Experience\" >Step 4: Gain Internship or Entry-Level Experience<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/analystprep.com\/blog\/how-to-become-an-actuary\/#Step_5_Decide_Between_SOA_and_CAS\" >Step 5: Decide Between SOA and CAS<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/analystprep.com\/blog\/how-to-become-an-actuary\/#Step_6_Pass_Remaining_Exams_Meet_Certification_Requirements\" >Step 6: Pass Remaining Exams &amp; Meet Certification Requirements<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/analystprep.com\/blog\/how-to-become-an-actuary\/#TLDR_Heres_What_Youll_Need\" >TL;DR: Here&#8217;s What You\u2019ll Need<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/analystprep.com\/blog\/how-to-become-an-actuary\/#SOA_vs_CAS_Which_Path_Should_You_Choose\" >SOA vs CAS: Which Path Should You Choose?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/analystprep.com\/blog\/how-to-become-an-actuary\/#_Society_of_Actuaries_SOA\" >&nbsp;Society of Actuaries (SOA)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/analystprep.com\/blog\/how-to-become-an-actuary\/#Casualty_Actuarial_Society_CAS\" >Casualty Actuarial Society (CAS)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/analystprep.com\/blog\/how-to-become-an-actuary\/#SOA_vs_CAS_Which_Is_Better\" >SOA vs CAS: Which Is Better?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/analystprep.com\/blog\/how-to-become-an-actuary\/#Actuarial_Exam_Requirements_Structure\" >Actuarial Exam Requirements &amp; Structure<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/analystprep.com\/blog\/how-to-become-an-actuary\/#Shared_Preliminary_Exams_SOA_CAS\" >Shared Preliminary Exams (SOA &amp; CAS)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/analystprep.com\/blog\/how-to-become-an-actuary\/#How_Many_Exams_to_Become_an_Actuary\" >How Many Exams to Become an Actuary?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/analystprep.com\/blog\/how-to-become-an-actuary\/#What_to_Expect_from_These_Exams\" >What to Expect from These Exams<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/analystprep.com\/blog\/how-to-become-an-actuary\/#Life_vs_Non-Life_Actuaries_Choosing_a_Discipline\" >Life vs Non-Life Actuaries: Choosing a Discipline<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/analystprep.com\/blog\/how-to-become-an-actuary\/#Life_Actuaries_SOA_Track\" >Life Actuaries (SOA Track)<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/analystprep.com\/blog\/how-to-become-an-actuary\/#Common_Areas\" >Common Areas:<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-22\" href=\"https:\/\/analystprep.com\/blog\/how-to-become-an-actuary\/#Non-Life_Property_Casualty_Actuaries_CAS_Track\" >Non-Life (Property &amp; Casualty) Actuaries (CAS Track)<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-23\" href=\"https:\/\/analystprep.com\/blog\/how-to-become-an-actuary\/#Common_Areas-2\" >Common Areas:<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-24\" href=\"https:\/\/analystprep.com\/blog\/how-to-become-an-actuary\/#Which_Should_You_Choose\" >Which Should You Choose?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-25\" href=\"https:\/\/analystprep.com\/blog\/how-to-become-an-actuary\/#Actuary_Salary_and_Career_Growth\" >Actuary Salary and Career Growth<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-26\" href=\"https:\/\/analystprep.com\/blog\/how-to-become-an-actuary\/#Whats_the_Starting_Salary\" >What\u2019s the Starting Salary?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-27\" href=\"https:\/\/analystprep.com\/blog\/how-to-become-an-actuary\/#Mid-Career_and_Certified_Actuary_Salaries\" >Mid-Career and Certified Actuary Salaries<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-28\" href=\"https:\/\/analystprep.com\/blog\/how-to-become-an-actuary\/#Career_Outlook_and_Demand\" >Career Outlook and Demand<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-29\" href=\"https:\/\/analystprep.com\/blog\/how-to-become-an-actuary\/#_What_Degree_Do_You_Need_to_Become_an_Actuary\" >&nbsp;What Degree Do You Need to Become an Actuary?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-30\" href=\"https:\/\/analystprep.com\/blog\/how-to-become-an-actuary\/#Popular_Majors_for_Aspiring_Actuaries\" >Popular Majors for Aspiring Actuaries<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-31\" href=\"https:\/\/analystprep.com\/blog\/how-to-become-an-actuary\/#What_If_I_Didnt_Major_in_These_Fields\" >What If I Didn\u2019t Major in These Fields?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-32\" href=\"https:\/\/analystprep.com\/blog\/how-to-become-an-actuary\/#What_Is_VEE_Validation_by_Educational_Experience\" >What Is VEE (Validation by Educational Experience)?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-33\" href=\"https:\/\/analystprep.com\/blog\/how-to-become-an-actuary\/#What_Topics_Are_Covered_by_VEE\" >What Topics Are Covered by VEE?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-34\" href=\"https:\/\/analystprep.com\/blog\/how-to-become-an-actuary\/#_How_to_Fulfill_VEE_Requirements\" >&nbsp;How to Fulfill VEE Requirements<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-35\" href=\"https:\/\/analystprep.com\/blog\/how-to-become-an-actuary\/#Gaining_Work_Experience_as_an_Aspiring_Actuary\" >Gaining Work Experience as an Aspiring Actuary<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-36\" href=\"https:\/\/analystprep.com\/blog\/how-to-become-an-actuary\/#Why_Experience_Matters\" >Why Experience Matters<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-37\" href=\"https:\/\/analystprep.com\/blog\/how-to-become-an-actuary\/#_Where_to_Start\" >&nbsp;Where to Start<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-38\" href=\"https:\/\/analystprep.com\/blog\/how-to-become-an-actuary\/#Frequently_Asked_Questions_About_Becoming_an_Actuary\" >Frequently Asked Questions About Becoming an Actuary<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-39\" href=\"https:\/\/analystprep.com\/blog\/how-to-become-an-actuary\/#What_exams_are_required_to_become_an_actuary\" >What exams are required to become an actuary?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-40\" href=\"https:\/\/analystprep.com\/blog\/how-to-become-an-actuary\/#How_many_actuarial_exams_do_I_need_to_pass\" >How many actuarial exams do I need to pass?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-41\" href=\"https:\/\/analystprep.com\/blog\/how-to-become-an-actuary\/#Whats_the_difference_between_SOA_and_CAS\" >What\u2019s the difference between SOA and CAS?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-42\" href=\"https:\/\/analystprep.com\/blog\/how-to-become-an-actuary\/#Can_I_become_an_actuary_without_a_math_degree\" >Can I become an actuary without a math degree?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-43\" href=\"https:\/\/analystprep.com\/blog\/how-to-become-an-actuary\/#How_long_does_it_take_to_become_an_actuary\" >How long does it take to become an actuary?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_Does_an_Actuary_Do\"><\/span><strong>What Does an Actuary Do?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Actuaries are professionals who assess and manage risk using math, statistics, and data modeling. Their job is to help businesses \u2014 especially insurance companies, pension funds, and government agencies \u2014 make smarter financial decisions when faced with uncertainty.<\/p>\n\n\n\n<p>If you\u2019ve ever wondered how insurance companies set premiums or how retirement plans forecast future payouts, that\u2019s actuarial science in action.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"Basic Probability Part 1 (SOA Exam P \u2013 Probability \u2013 General Probability Module )\" width=\"1170\" height=\"658\" src=\"https:\/\/www.youtube.com\/embed\/aJtM6QHzrGw?feature=oembed&#038;enablejsapi=1&#038;origin=https:\/\/analystprep.com\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Common_Tasks_Include\"><\/span><strong>Common Tasks Include:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Analyzing data to estimate the probability and financial cost of events (e.g., illness, accidents, or death)<br><\/li>\n\n\n\n<li>Designing and pricing insurance policies, pension plans, and investment strategies<br><\/li>\n\n\n\n<li>Modeling long-term financial outcomes to guide risk management decisions<br><\/li>\n\n\n\n<li>Communicating insights to executives, clients, and regulators<br><\/li>\n<\/ul>\n\n\n\n<p>Actuaries often work in:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Insurance (life, health, property, and casualty)<br><\/li>\n\n\n\n<li>Consulting<br><\/li>\n\n\n\n<li>Government agencies<br><\/li>\n\n\n\n<li>Corporate finance and employee benefits<br><\/li>\n\n\n\n<li>Risk management and enterprise analytics<br><\/li>\n<\/ul>\n\n\n\n<p>Curious about how data science overlaps with actuarial work?<a href=\"https:\/\/analystprep.com\/blog\/link-between-data-science-and-actuarial-science\/\"> Here\u2019s how the two fields are connected<\/a>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_to_Become_an_Actuary_Step-by-Step\"><\/span><strong>How to Become an Actuary (Step-by-Step)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Becoming an actuary doesn\u2019t happen overnight \u2014 but the steps are clear. Whether you&#8217;re a student, career switcher, or self-starter, this roadmap outlines exactly what you need to do.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Step_1_Earn_a_Bachelors_Degree\"><\/span><strong>Step 1: Earn a Bachelor\u2019s Degree<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>A degree is not strictly required, but most employers prefer it. Common majors include actuarial science, statistics, mathematics, economics, or finance.<\/p>\n\n\n\n<p>Not sure which degree is best for you? We&#8217;ll cover that soon.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Step_2_Pass_Your_First_Actuarial_Exams\"><\/span><strong>Step 2: Pass Your First Actuarial Exams<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Start with Exam P (Probability) and Exam FM (Financial Mathematics) \u2014 the first two preliminary exams accepted by both SOA and CAS. Passing just one exam can qualify you for an entry-level role.<\/p>\n\n\n\n<p><a href=\"https:\/\/analystprep.com\/actuarial-exams\/soa\/exam-p-probability\/\">&nbsp;Start preparing for Exam P<\/a> or<a href=\"https:\/\/analystprep.com\/actuarial-exams\/soa\/fm-financial-mathematics-exam\/\"> Exam FM<\/a> with AnalystPrep.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Step_3_Complete_VEE_Requirements\"><\/span><strong>Step 3: Complete VEE Requirements<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Validation by Educational Experience (VEE) credits cover topics like Applied Stats, Corporate Finance, and Economics. These are usually fulfilled through college courses or approved online programs.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Step_4_Gain_Internship_or_Entry-Level_Experience\"><\/span><strong>Step 4: Gain Internship or Entry-Level Experience<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Many employers expect internship experience before hiring full-time. Aim to secure an internship after passing at least one exam.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Step_5_Decide_Between_SOA_and_CAS\"><\/span><strong>Step 5: Decide Between SOA and CAS<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Choose your track based on your interest:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>SOA: Life, health, pensions, enterprise risk<br><\/li>\n\n\n\n<li>CAS: Auto, property, liability insurance<br><\/li>\n<\/ul>\n\n\n\n<p>We\u2019ll break down both shortly.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Step_6_Pass_Remaining_Exams_Meet_Certification_Requirements\"><\/span><strong>Step 6: Pass Remaining Exams &amp; Meet Certification Requirements<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Depending on your chosen track, you\u2019ll need to pass a total of 6\u201310 exams, complete modules, and attend professionalism courses to become certified as an ASA, ACAS, FSA, or FCAS.<\/p>\n\n\n\n<p><a href=\"https:\/\/analystprep.com\/blog\/your-roadmap-to-conquering-actuarial-exams-with-confidence\/\">&nbsp;Here\u2019s your complete guide to exam preparation<\/a>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"TLDR_Heres_What_Youll_Need\"><\/span><strong>TL;DR: Here&#8217;s What You\u2019ll Need<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>A degree (recommended)<br><\/li>\n\n\n\n<li>Pass 6\u201310 exams over several years<br><\/li>\n\n\n\n<li>Choose SOA or CAS<br><\/li>\n\n\n\n<li>Gain work experience<br><\/li>\n\n\n\n<li>Complete VEE and modules<br><\/li>\n<\/ul>\n\n\n\n<p>Ready to start prepping?<a href=\"https:\/\/analystprep.com\/shop\/actuarial-exams-complete-courses-by-analystprep\/\"> Get AnalystPrep\u2019s complete actuarial exam package<\/a> and start your journey today.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"SOA_vs_CAS_Which_Path_Should_You_Choose\"><\/span><strong>SOA vs CAS: Which Path Should You Choose?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>When it comes to actuarial certification in the U.S., you have two main routes: the Society of Actuaries (SOA) and the Casualty Actuarial Society (CAS). Both are highly respected \u2014 but the one you choose depends on your career goals.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"The Time Value of Money (Actuarial Exam FM \u2013 Financial Mathematics \u2013 Module 1, Section 1, Part 1)\" width=\"1170\" height=\"658\" src=\"https:\/\/www.youtube.com\/embed\/vaIqxP437bs?feature=oembed&#038;enablejsapi=1&#038;origin=https:\/\/analystprep.com\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"_Society_of_Actuaries_SOA\"><\/span><strong>&nbsp;Society of Actuaries (SOA)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The <strong>SOA<\/strong> is the go-to certification body for actuaries working in:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Life insurance<br><\/li>\n\n\n\n<li>Health insurance<br><\/li>\n\n\n\n<li>Retirement\/pensions<br><\/li>\n\n\n\n<li>Finance and investment<br><\/li>\n\n\n\n<li>Enterprise risk management (ERM)<br><\/li>\n<\/ul>\n\n\n\n<p>Once you complete the SOA&#8217;s requirements, you can earn the ASA (Associate of the Society of Actuaries) and eventually the FSA (Fellow of the Society of Actuaries) designations.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Casualty_Actuarial_Society_CAS\"><\/span><strong>Casualty Actuarial Society (CAS)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The CAS specializes in property and casualty (P&amp;C) insurance, which includes:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Auto insurance<br><\/li>\n\n\n\n<li>Homeowners insurance<br><\/li>\n\n\n\n<li>Commercial liability<br><\/li>\n\n\n\n<li>Workers&#8217; compensation<br><\/li>\n<\/ul>\n\n\n\n<p>The CAS leads to the ACAS (Associate of the CAS) and FCAS (Fellow of the CAS) certifications.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"SOA_vs_CAS_Which_Is_Better\"><\/span><strong>SOA vs CAS: Which Is Better?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Neither is objectively better \u2014 it\u2019s all about where you want to specialize. If you\u2019re interested in pensions, life insurance, or finance, go with SOA. If you&#8217;re drawn to auto or property coverage and enjoy modeling real-world risks like natural disasters or liability, CAS is the way to go.<\/p>\n\n\n\n<p>Pro tip: You don\u2019t need to commit right away. Both SOA and CAS share the same preliminary exams (P and FM), so you can decide your path later.<\/p>\n\n\n\n<p><a href=\"https:\/\/analystprep.com\/blog\/analystprep-offers-carefully-crafted-resources-for-two-of-the-most-pivotal-exams-in-the-actuarial-profession-soa-exam-p-probability-and-soa-exam-fm-financial-mathematics\/\">See our complete breakdown of SOA Exam P and FM prep resources<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Actuarial_Exam_Requirements_Structure\"><\/span><strong>Actuarial Exam Requirements &amp; Structure<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>No matter which path you choose \u2014 SOA or CAS \u2014 every actuary must go through a series of rigorous professional exams. These tests are at the core of the profession and are known for being both challenging and rewarding.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Shared_Preliminary_Exams_SOA_CAS\"><\/span><strong>Shared Preliminary Exams (SOA &amp; CAS)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Most actuarial students begin with the same set of jointly administered exams. These foundational tests are recognized by both certification bodies.<\/p>\n\n\n\n<p>Here\u2019s a breakdown:<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Exam<\/strong><\/td><td><strong>Focus<\/strong><\/td><td><strong>Learn More<\/strong><\/td><\/tr><tr><td><strong>Exam P<\/strong><\/td><td>Probability theory &amp; risk modeling<\/td><td><a href=\"https:\/\/analystprep.com\/actuarial-exams\/soa\/exam-p-probability\/\">Start preparing \u2192<\/a><\/td><\/tr><tr><td><strong>Exam FM<\/strong><\/td><td>Financial mathematics, interest theory<\/td><td><a href=\"https:\/\/analystprep.com\/actuarial-exams\/soa\/fm-financial-mathematics-exam\/\">Explore resources \u2192<\/a><\/td><\/tr><tr><td><strong>Exam SRM<\/strong><\/td><td>Statistical modeling &amp; regression<\/td><td>Included in SOA path<\/td><\/tr><tr><td><strong>Exam FAM<\/strong><\/td><td>Fundamentals of actuarial mathematics<\/td><td>Replaced IFM &amp; LTAM<\/td><\/tr><tr><td><strong>Exam STAM<\/strong><\/td><td>Short-term insurance modeling<\/td><td>SOA track<\/td><\/tr><tr><td><strong>Exam PA<\/strong><\/td><td>Predictive analytics using R &amp; Excel<\/td><td>SOA track<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>Note: The IFM exam has been retired. Its topics are now integrated into FAM and other modules.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_Many_Exams_to_Become_an_Actuary\"><\/span><strong>How Many Exams to Become an Actuary?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Depending on your goal (ASA, ACAS, FSA, FCAS), you\u2019ll need to pass between 6 and 10 exams in total, often spread over 5 to 10 years.<\/p>\n\n\n\n<p>Here\u2019s a simplified summary:<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Credential<\/strong><\/td><td><strong>Body<\/strong><\/td><td><strong>Exams Required<\/strong><\/td><td><strong>Extras<\/strong><\/td><\/tr><tr><td>ASA (Associate)<\/td><td>SOA<\/td><td>~6\u20137<\/td><td>VEE, modules, professionalism<\/td><\/tr><tr><td>ACAS (Associate)<\/td><td>CAS<\/td><td>~6\u20137<\/td><td>Modules, online courses<\/td><\/tr><tr><td>FSA (Fellow)<\/td><td>SOA<\/td><td>9\u201310<\/td><td>Track-specific requirements<\/td><\/tr><tr><td>FCAS (Fellow)<\/td><td>CAS<\/td><td>9\u201310<\/td><td>Case-based assessments<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_to_Expect_from_These_Exams\"><\/span><strong>What to Expect from These Exams<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Pass rates are typically low \u2014 often below 50% \u2014 so preparation is key.<br><\/li>\n\n\n\n<li>Exams are computer-based and offered at various times throughout the year.<br><\/li>\n\n\n\n<li>You don\u2019t need to take them all at once. Most candidates pass one every 6\u201312 months while working or studying.<br><\/li>\n<\/ul>\n\n\n\n<p>Want to know the exam dates?<a href=\"https:\/\/analystprep.com\/blog\/everything-you-need-to-know-about-actuarial-2025-exam-dates\/\"> Here\u2019s everything you need to know about 2025 actuarial exam dates<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/analystprep.com\/shop\/actuarial-exams-complete-courses-by-analystprep\/\">&nbsp;Get full access to AnalystPrep\u2019s complete actuarial study package<\/a> \u2014 includes exam prep, practice questions, and adaptive learning tools.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Life_vs_Non-Life_Actuaries_Choosing_a_Discipline\"><\/span><strong>Life vs Non-Life Actuaries: Choosing a Discipline<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Once you\u2019ve passed your preliminary exams and chosen your certification path (SOA or CAS), you\u2019ll specialize in a specific actuarial discipline \u2014 usually as a life or non-life (property and casualty) actuary.<\/p>\n\n\n\n<p>Each discipline focuses on different types of risk, industries, and tools. Let\u2019s break it down.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Life_Actuaries_SOA_Track\"><\/span><strong>Life Actuaries (SOA Track)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Life actuaries typically work in insurance, retirement, and healthcare. They analyze long-term risks related to human life and well-being.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Common_Areas\"><\/span><strong>Common Areas:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Life insurance<\/strong> \u2013 Assess mortality risk to price policies accurately<br><\/li>\n\n\n\n<li><strong>Health insurance<\/strong> \u2013 Evaluate the cost of future medical claims<br><\/li>\n\n\n\n<li><strong>Pensions<\/strong> \u2013 Design and manage retirement plans<br><\/li>\n\n\n\n<li><strong>Annuities &amp; Disability insurance<\/strong> \u2013 Model payouts based on longevity and illness<br><\/li>\n\n\n\n<li><strong>Investment risk modeling<\/strong> \u2013 Help companies manage long-term reserves<br><\/li>\n<\/ul>\n\n\n\n<p>Life actuaries often work for life insurance firms, health providers, or pension consulting companies.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Non-Life_Property_Casualty_Actuaries_CAS_Track\"><\/span><strong>Non-Life (Property &amp; Casualty) Actuaries (CAS Track)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Non-life actuaries deal with more short-term, unpredictable risks involving property, accidents, and legal liability.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Common_Areas-2\"><\/span><strong>Common Areas:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Auto insurance<\/strong> \u2013 Estimate accident frequency and repair costs<br><\/li>\n\n\n\n<li><strong>Homeowners insurance<\/strong> \u2013 Evaluate risks like fire, flooding, and theft<br><\/li>\n\n\n\n<li><strong>Commercial insurance<\/strong> \u2013 Price business liability and property coverage<br><\/li>\n\n\n\n<li><strong>Workers\u2019 compensation<\/strong> \u2013 Predict costs of workplace injuries<br><\/li>\n\n\n\n<li><strong>Product &amp; malpractice liability<\/strong> \u2013 Model claims from faulty products or professional errors<br><\/li>\n<\/ul>\n\n\n\n<p>Non-life actuaries often work in general insurance, reinsurance, or government agencies regulating risk.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"Policy Modifications (SOA Exam P \u2013 Probability \u2013 Univariate Random Variables)\" width=\"1170\" height=\"658\" src=\"https:\/\/www.youtube.com\/embed\/rIezvf2By5U?feature=oembed&#038;enablejsapi=1&#038;origin=https:\/\/analystprep.com\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Which_Should_You_Choose\"><\/span><strong>Which Should You Choose?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Choose life if you enjoy modeling long-term risk and working in health, pensions, or investment-heavy areas.<br><\/li>\n\n\n\n<li>Choose non-life if you\u2019re interested in dynamic pricing, legal exposure, or short-term loss modeling.<br><\/li>\n<\/ul>\n\n\n\n<p>And remember \u2014 your choice of SOA vs CAS largely determines your discipline. But early in your career, you can explore both before specializing.<\/p>\n\n\n\n<p>&nbsp;Want to explore the connection between actuarial science and predictive data work?<a href=\"https:\/\/analystprep.com\/blog\/link-between-data-science-and-actuarial-science\/\"> Check out this blog on how data science intersects with actuarial work<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Actuary_Salary_and_Career_Growth\"><\/span><strong>Actuary Salary and Career Growth<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Let\u2019s be honest \u2014 one reason many people consider becoming an actuary is the earning potential. And for good reason: actuaries are some of the best-paid professionals in the analytics and finance space, with salaries growing steadily as you advance through the certification levels.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Whats_the_Starting_Salary\"><\/span><strong>What\u2019s the Starting Salary?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>If you\u2019ve passed just one or two preliminary exams (like Exam P or Exam FM), you\u2019re already employable. Many entry-level actuarial analysts in the U.S. earn $55,000\u2013$70,000 per year, depending on their location and internship experience.<\/p>\n\n\n\n<p>Want help passing your first exams?<a href=\"https:\/\/analystprep.com\/blog\/what-it-takes-to-pass-and-prepare-for-exams-p-and-fm%ef%bf%bc\/\"> Here\u2019s everything it takes to pass Exams P and FM<\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Mid-Career_and_Certified_Actuary_Salaries\"><\/span><strong>Mid-Career and Certified Actuary Salaries<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>As you move toward full certification and earn Associate status (ASA or ACAS), your income typically jumps to $90,000\u2013$130,000. After reaching Fellowship (FSA or FCAS), it\u2019s not unusual to earn $150,000 to $250,000+, especially with management responsibilities or specialized roles.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Stage<\/strong><\/td><td><strong>Typical Salary Range (USD)<\/strong><\/td><\/tr><tr><td>0\u20132 Exams Passed<\/td><td>$55,000\u2013$70,000<\/td><\/tr><tr><td>Associate (ASA \/ ACAS)<\/td><td>$90,000\u2013$130,000<\/td><\/tr><tr><td>Fellow (FSA \/ FCAS)<\/td><td>$150,000\u2013$250,000+<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Career_Outlook_and_Demand\"><\/span><strong>Career Outlook and Demand<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The demand for actuaries remains consistently high. Industries are actively hiring due to:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Increased focus on risk modeling and data analytics<br><\/li>\n\n\n\n<li>The expansion of insurance and pension markets<br><\/li>\n\n\n\n<li>Regulatory demand for risk-based capital and solvency assessments<br><\/li>\n<\/ul>\n\n\n\n<p>According to the U.S. Bureau of Labor Statistics, the actuarial profession is projected to grow 23% through 2032, much faster than average.<\/p>\n\n\n\n<p>Want to fast-track your exam prep and job-readiness?<a href=\"https:\/\/analystprep.com\/shop\/actuarial-exams-complete-courses-by-analystprep\/\"> Explore AnalystPrep\u2019s full exam course bundle<\/a> and get started today.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"_What_Degree_Do_You_Need_to_Become_an_Actuary\"><\/span><strong>&nbsp;What Degree Do You Need to Become an Actuary?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Technically, you don\u2019t need a specific degree to become an actuary \u2014 passing the professional exams is what really matters. But most employers still prefer candidates who hold at least a bachelor\u2019s degree, and the right major can give you a solid head start.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Popular_Majors_for_Aspiring_Actuaries\"><\/span><strong>Popular Majors for Aspiring Actuaries<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Major<\/strong><\/td><td><strong>Why It Helps<\/strong><\/td><\/tr><tr><td><strong>Actuarial Science<\/strong><\/td><td>Covers core topics like finance, stats, and probability. Often includes prep for Exams P &amp; FM.<\/td><\/tr><tr><td><strong>Statistics<\/strong><\/td><td>Builds a strong foundation in data analysis and modeling. Great for both SOA and CAS paths.<\/td><\/tr><tr><td><strong>Mathematics<\/strong><\/td><td>Deepens your understanding of calculus, probability, and logic \u2014 all essential for the exams.<\/td><\/tr><tr><td><strong>Economics<\/strong><\/td><td>Teaches market behavior, opportunity cost, and risk \u2014 useful for investment-related roles.<\/td><\/tr><tr><td><strong>Finance<\/strong><\/td><td>Helps you understand financial instruments, cash flows, and asset management.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_If_I_Didnt_Major_in_These_Fields\"><\/span><strong>What If I Didn\u2019t Major in These Fields?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>No problem. Many actuaries come from engineering, physics, computer science, or even business backgrounds. What matters most is that you&#8217;re willing to put in the work to pass the exams.<\/p>\n\n\n\n<p>Already through college? You can still stand out by picking up VEE-approved courses or self-studying the essentials.<\/p>\n\n\n\n<p><a href=\"https:\/\/analystprep.com\/shop\/actuarial-exams-complete-courses-by-analystprep\/\">&nbsp;Explore AnalystPrep\u2019s foundational study materials<\/a> to supplement any background.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_Is_VEE_Validation_by_Educational_Experience\"><\/span><strong>What Is VEE (Validation by Educational Experience)?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>VEE \u2014 or Validation by Educational Experience \u2014 is a requirement for actuaries pursuing Associate-level credentials (ASA or ACAS). While these topics aren\u2019t covered in-depth on the early actuarial exams, they\u2019re considered essential for real-world actuarial work.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_Topics_Are_Covered_by_VEE\"><\/span><strong>What Topics Are Covered by VEE?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>You\u2019ll need to show competence in three areas:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>Economics<\/strong><strong><br><\/strong><\/li>\n\n\n\n<li><strong>Corporate Finance<\/strong><strong><br><\/strong><\/li>\n\n\n\n<li><strong>Applied Statistical Methods<\/strong><strong><br><\/strong><\/li>\n<\/ol>\n\n\n\n<p>These topics aren\u2019t tested directly in the preliminary exams because they\u2019re better learned through coursework.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"_How_to_Fulfill_VEE_Requirements\"><\/span><strong>&nbsp;How to Fulfill VEE Requirements<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>To receive credit, you must:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Pass <strong>Exam P and Exam FM<\/strong> (both must appear on your SOA\/CAS transcript)<br><\/li>\n\n\n\n<li>Complete a <strong>VEE-approved college course<\/strong> with a grade of B- or higher<br>OR<br><\/li>\n\n\n\n<li>Take an <strong>approved online course<\/strong> from a recognized provider<br><\/li>\n<\/ul>\n\n\n\n<p>For a full list of approved VEE courses, check the SOA\u2019s official VEE page.<\/p>\n\n\n\n<p>If you already covered any of these topics in college, you may be closer to qualifying than you think.<\/p>\n\n\n\n<p>Just getting started?<a href=\"https:\/\/analystprep.com\/shop\/actuarial-exams-complete-courses-by-analystprep\/\"> Our complete actuarial package<\/a> is the perfect companion to your VEE and exam prep.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Gaining_Work_Experience_as_an_Aspiring_Actuary\"><\/span><strong>Gaining Work Experience as an Aspiring Actuary<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Passing exams is a huge part of becoming an actuary \u2014 but it\u2019s not the only thing that matters. To get hired (and eventually certified), you\u2019ll also need hands-on experience. Most employers look for candidates with at least one internship or entry-level role under their belt.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Why_Experience_Matters\"><\/span><strong>Why Experience Matters<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Actuarial work is technical, yes \u2014 but it\u2019s also collaborative. You&#8217;ll work with product teams, underwriters, data scientists, and managers. Gaining early experience helps you:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Apply what you&#8217;ve learned from exams in a business setting<br><\/li>\n\n\n\n<li>Strengthen your resume and stand out in competitive applicant pools<br><\/li>\n\n\n\n<li>Qualify for ASA or ACAS credentials, which require validated work experience<br><\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"_Where_to_Start\"><\/span><strong>&nbsp;Where to Start<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>&nbsp;<strong>Internships<\/strong> \u2013 Best pursued after passing 1\u20132 exams (especially P or FM)<br><\/li>\n\n\n\n<li><strong>Volunteering<\/strong> \u2013 Smaller nonprofits or startups may offer unpaid experience<br><\/li>\n\n\n\n<li><strong>Data\/Finance roles<\/strong> \u2013 Even if not \u201cactuarial,\u201d jobs that involve modeling or analysis are highly relevant<br><\/li>\n<\/ul>\n\n\n\n<p>Pro tip: Don&#8217;t wait to pass all your exams before applying. Most actuaries land their first job after just one or two exams.<\/p>\n\n\n\n<p>Need a roadmap?<a href=\"https:\/\/analystprep.com\/blog\/what-it-takes-to-pass-and-prepare-for-exams-p-and-fm%ef%bf%bc\/\"> Here\u2019s your guide to preparing for Exams P and FM<\/a> \u2014 a solid first step before applying for internships.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions_About_Becoming_an_Actuary\"><\/span><strong>Frequently Asked Questions About Becoming an Actuary<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_exams_are_required_to_become_an_actuary\"><\/span><strong>What exams are required to become an actuary?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Most actuaries begin with Exam P (Probability) and Exam FM (Financial Mathematics). These are part of a series of 6\u201310 exams required to become certified under SOA or CAS. You\u2019ll also complete additional modules, VEE credits, and a professionalism course along the way.<\/p>\n\n\n\n<p><a href=\"https:\/\/analystprep.com\/actuarial-exams\/soa\/exam-p-probability\/\">Start preparing for your first actuarial exam<\/a> with AnalystPrep.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_many_actuarial_exams_do_I_need_to_pass\"><\/span><strong>How many actuarial exams do I need to pass?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>To earn an Associate-level credential (ASA or ACAS), you\u2019ll typically need to pass 6\u20137 exams. For Fellowship (FSA or FCAS), expect 9\u201310 exams total, depending on your specialization.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Whats_the_difference_between_SOA_and_CAS\"><\/span><strong>What\u2019s the difference between SOA and CAS?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>SOA<\/strong> focuses on life, health, pensions, and enterprise risk.<br><\/li>\n\n\n\n<li><strong>CAS<\/strong> is geared toward property and casualty insurance like auto or homeowners coverage.<br>The first few exams (P, FM, etc.) are shared, so you can decide your path later.<br><\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Can_I_become_an_actuary_without_a_math_degree\"><\/span><strong>Can I become an actuary without a math degree?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Yes. While majors like actuarial science, statistics, or mathematics help, many successful actuaries come from backgrounds in engineering, economics, finance, or computer science. What matters most is your ability to pass the exams.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_long_does_it_take_to_become_an_actuary\"><\/span><strong>How long does it take to become an actuary?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>It typically takes 6 to 10 years to become a fully certified actuary (FSA or FCAS), though many candidates begin working after passing just 1 or 2 exams. Most study while working full-time and take 1\u20132 exams per year.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"Covariance and Correlation (SOA Exam P \u2013 Probability \u2013 Multivariate Random Variables)\" width=\"1170\" height=\"658\" src=\"https:\/\/www.youtube.com\/embed\/tx8W4mbAm1I?feature=oembed&#038;enablejsapi=1&#038;origin=https:\/\/analystprep.com\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Actuaries aren\u2019t just number crunchers \u2014 they\u2019re decision-makers behind some of the most critical financial systems in the world. If you&#8217;re analytical, detail-oriented, and want a career that combines math with real-world impact, becoming an actuary might be the perfect&#8230;<\/p>\n","protected":false},"author":2,"featured_media":12696,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[80,79],"tags":[],"class_list":["post-7968","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-actuarial-exams","category-actuary","blog-post","animate"],"acf":[],"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/analystprep.com\/blog\/wp-json\/wp\/v2\/posts\/7968","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/analystprep.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/analystprep.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/analystprep.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/analystprep.com\/blog\/wp-json\/wp\/v2\/comments?post=7968"}],"version-history":[{"count":11,"href":"https:\/\/analystprep.com\/blog\/wp-json\/wp\/v2\/posts\/7968\/revisions"}],"predecessor-version":[{"id":13508,"href":"https:\/\/analystprep.com\/blog\/wp-json\/wp\/v2\/posts\/7968\/revisions\/13508"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/analystprep.com\/blog\/wp-json\/wp\/v2\/media\/12696"}],"wp:attachment":[{"href":"https:\/\/analystprep.com\/blog\/wp-json\/wp\/v2\/media?parent=7968"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/analystprep.com\/blog\/wp-json\/wp\/v2\/categories?post=7968"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/analystprep.com\/blog\/wp-json\/wp\/v2\/tags?post=7968"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}