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What You'll Do: As an actuary, you'll probably work for a large corporation to help the executives predict the potential monetary gains and losses of making certain decisions.

An actuary typically: gathers company financial data to perform statistical analyses for assessment of risk, predicts the likelihood and expense of certain occurrences such as death or a motor accident, comes up with strategies to minimize company losses and maximize profits, creates graphs and tables to display findings, and provides company executives with financial advice. An actuary often serves as a financial advisor.

You will likely work in the insurance industry. Most of the work will be done in an office environment using a computer and various statistics programs, and a typical work week is 40 or more hours long. You'll enjoy a fixed schedule if you work for an insurance company, but your hours will fluctuate greatly if you do consulting. Occasional travel may be required to attend corporate meetings or meet with clients.

Education and Training: A bachelor's degree in actuarial science is required for most positions. However, many employers will hire you if you have a four-year degree in math, stats, or a business-related field of study. During your schooling, you will take courses in: calculus, accounting, economics, statistics, management, corporate finance and more. A strong background in computers should prove very useful for the job because you will have to get familiar with a number of different financial and database programs.

Some actuarial science programs culminate in an internship to give you real-world experience. After completing the degree program, you must pass a series of exams to become fully-certified for practice.

If you choose to get certified with the Casualty Actuarial Society, you will have to pass seven separate exams. For certification with the Society of Actuaries, passing five exams is required. Achieving certification generally takes four to six additional years, and some degree programs require that you complete at least one exam prior to graduation.

The Future: The actuarial science profession is expected to grow at about 27% through 2020.

The Pay: Annual salaries for Actuaries in the U.S. range from $53,100 to $160,000, with the average median annual wage hitting $93,600 in 2012 as per the U.S. Bureau of Labor Statistics.

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