Category Archives: Accounting

Actuary Career Profile


Actuaries are specially trained to minimize the financial risks that companies and clients may face. Using their expert knowledge of business, finance and statistics, they assess the specific situation and then determine the degree of risk for individuals or organizations. Most of these professionals are employed by the insurance industry. Other employers for actuarial jobs include financial service industries and government agencies.

These professionals have strong skills in subjects like mathematics and statistics. While working for insurance companies, they determine the cost of events like death, injury, property loss etc. Though most of the actuaries work the standard 40 hours a week, they may spend more hours depending on specific job requirements. Those who work as consulting actuaries spend much of their time in traveling from one place to another. They move to meet with different clients.

To become an actuary, candidates should also possess computer proficiency. They make use of a wide range of statistics software to perform their task. Computer skills, therefore, are very essential to perform these tasks. These professionals create spreadsheet and databases to make a clear assessment of a client’s specific situation. Meeting with clients takes much of the consulting actuaries’ time.

Educational Qualification & Training

To kick start your career as an actuary, you should possess a bachelor’s degree in mathematics or statistics. The typical coursework of a training program includes training in calculus, economics, life contingencies and actuarial models. To become successful, candidates will need to pass professional certification examinations. With growing experience, skill set and advanced training, actuaries can also be promoted to upper level supervisory and management positions.

Employment Outlook

The majority of actuaries work for the insurance industry. According to the United States Bureau of Labor Statistics, the employment growth rate for actuary jobs will increase much faster than the average of all other occupations. The expanding insurance industry creates plentiful job opportunities for actuaries. The predicted job growth in this field is 24% through to the year 2016. Candidates who possess adequate educational qualification, relevant experience and have passed at least one professional certification exam will reap the maximum employment benefits.

Annual Salary

According to the United States Bureau of Labor Statistics, actuaries earned a median annual income of around $95,420 in the year 2007. The starting salary offered to bachelor degree holders in this field is around $53,754. The annual salary of an actuary varies depending on their educational qualification, working experience and the nature and size of employer. Those who have multiple years of work experience can earn an annual income as high as $107,080. Management, technical consulting services and the scientific industry offer the highest salary to actuaries.

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Master of Accounting & Finance Management


If you are interested to make a career in the field of accounts and finance management, you can specialize in this field by obtaining a master’s degree of accounting and finance management. The master’s degree trains students in specialized topics and the technical aspect of accounts and finance management. Students can not only obtain the degree via campus mode, but they can also opt for online master’s degree. Acquiring the degree online gives students the flexibility of working around their own schedules and attending classes at a time which is convenient to them.

management degree in accounting and financial management does not only provide students with an in-depth knowledge of the subjects, but the degree program also broadens their skills and understanding of related fields like marketing, commerce and investment. Whether it is experimental research or theoretical study, the online master degree provides expertise in the entire methodologies of accounts and finance as well as their effective application to contemporary business.

The coursework for a master’s degree in accounting and financial management will include –

Capital planning
Budget solutions
Analyses of taxation related theories
Disciplines of management accounting
Understanding of corporate accounts
Investment laws, theories and ideologies
Maintenance of international finance
Ethics of finance and account management

Job Prospects
The master’s degree enables you to acquire multiple job positions. Some of the positions you can take are as follows.

Accountant
Account Manger
Budget Analyzer
Auditing Officer
Account Investigator
Banker
Consultant
Loan Agent
Taxation Manger

Employment opportunities await both in government and non-government organizations. Candidates with a master’s degree in account and finance management can land jobs in finance consulting companies, corporate account departments, capital sector, taxation sector, banks etc. The master’s degree helps gain expertise and understanding of money management and budget creation. The degree can also help candidates become a writer for publications on business and accounts.

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