Privacy Policy for ecoedumajor.blogspot.com
If you require any more information or have any questions about our privacy policy, please feel free to contact us by email at budisantosoxx99@gmail.com.
At ecoedumajor.blogspot.com, the privacy of our visitors is of extreme importance to us. This privacy policy document outlines the types of personal information is received and collected by ecoedumajor.blogspot.com and how it is used.
Log Files
Like many other Web sites, ecoedumajor.blogspot.com makes use of log files. The information inside the log files includes internet protocol ( IP ) addresses, type of browser, Internet Service Provider ( ISP ), date/time stamp, referring/exit pages, and number of clicks to analyze trends, administer the site, track user’s movement around the site, and gather demographic information. IP addresses, and other such information are not linked to any information that is personally identifiable.
Cookies and Web Beacons
ecoedumajor.blogspot.com does use cookies to store information about visitors preferences, record user-specific information on which pages the user access or visit, customize Web page content based on visitors browser type or other information that the visitor sends via their browser.
DoubleClick DART Cookie
.:: Google, as a third party vendor, uses cookies to serve ads on ecoedumajor.blogspot.com.
.:: Google's use of the DART cookie enables it to serve ads to users based on their visit to ecoedumajor.blogspot.com and other sites on the Internet.
.:: Users may opt out of the use of the DART cookie by visiting the Google ad and content network privacy policy at the following URL - http://www.google.com/privacy_ads.html
Some of our advertising partners may use cookies and web beacons on our site. Our advertising partners include ....
Google Adsense
Commission Junction
Widget Bucks
Adbrite
Clickbank
Azoogle
Chitika
Linkshare
Amazon
Kontera
These third-party ad servers or ad networks use technology to the advertisements and links that appear on ecoedumajor.blogspot.com send directly to your browsers. They automatically receive your IP address when this occurs. Other technologies ( such as cookies, JavaScript, or Web Beacons ) may also be used by the third-party ad networks to measure the effectiveness of their advertisements and / or to personalize the advertising content that you see.
ecoedumajor.blogspot.com has no access to or control over these cookies that are used by third-party advertisers.
You should consult the respective privacy policies of these third-party ad servers for more detailed information on their practices as well as for instructions about how to opt-out of certain practices. ecoedumajor.blogspot.com's privacy policy does not apply to, and we cannot control the activities of, such other advertisers or web sites.
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Sunday, July 3, 2011
What Awaits You as an Economics Major?
If you become an economics major, what courses will you take? What are you going to study?
At the lower-division level, economics majors must take both the principles of macroeconomics course and the principles of microeconomics course. They usually also take a statistics course and a math course (usually calculus).
At the upper-division level, they must take intermediate microeconomics and intermediate macroeconomics, along with a certain number of electives. Some of the elective courses include: (1) money and banking, (2) law and economics, (3) history of economic thought, (4) public finance, (5) labor economics, (6) international economics, (7) antitrust and regulation, (8) health economics, (9) economics of development, (10) urban and regional economics, (11) econometrics, (12) mathematical economics, (13) environmental economics, (14) public choice, (15) global managerial economics, (16) economic approach to politics and sociology, (17) sports economics, and many more courses. Most economics majors take between 12 and 15 economics courses.
One of the attractive things about studying economics is that you will acquire many of the skills employers highly value. First, you will have the quantitative skills that are important in many business and government positions. Second, you will acquire the writing skills necessary in almost all lines of work. Third, and perhaps most importantly, you will develop the thinking skills that almost all employers agree are critical to success.
A study published in the 1998 edition of the Journal of Economic Education ranked economics majors as having the highest average scores on the Law School Admission Test (LSAT). Also, consider the words of the Royal Economic Society: “One of the things that makes economics graduates so employable is that the subject teaches you to think in a careful and precise way. The fundamental economic issue is how society decides to allocate its resources: how the costs and benefits of a course of action can be evaluated and compared, and how appropriate choices can be made. A degree in economics gives a training in decision making principles, providing a skill applicable in a very wide range of careers.”
Keep in mind, too, that economics is one of the most popular majors at some of the most respected universities in the country. As of this writing, economics is the top major at Harvard, Princeton, Columbia, Stanford, University of Pennsylvania, and University of Chicago. It is the second most popular major at Brown, Yale, and the University of California at Berkeley. It is the third most popular major at Cornell and Dartmouth.
Five Myths About Economics about the Economics Major
Myth 1: Economics is all mathematics and statistics. Some students choose not to major in economics because they think economics is all mathematics and statistics. Math and statistics are used in economics, but at the undergraduate degree level, the math and statistics are certainly not overwhelming. Economics majors are usually required to take one statistics course and one math course (usually an introductory calculus course). Even students who say, “Math isn’t my subject” are sometimes happy with the amount of math they need in economics. Fact is, at the undergraduate level at many colleges and universities, economics is not a very math-intensive course of study. There are many diagrams in economics, but there is not a large amount of math.
A proviso: The amount of math in the economics curriculum varies across colleges and universities. Some economics departments do not require their students to learn much math or statistics, but others do. Speaking for the majority of departments, we still hold to our original point that there isn’t really that much math or statistics in economics at the undergraduate level. The graduate level is a different story.
Myth 2: Economics is only about inflation, interest rates, unemployment and other such things. If you study economics at college and then go on to become a practicing economist, no doubt people will ask you certain questions when they learn your chosen profession. Here are some of the questions they ask:
• Do you think the economy is going to pick up?
• Do you think the economy is going to slow down?
• What stocks would you recommend?
• Do you think interest rates are going to fall?
• Do you think interest rates are going to rise?
• What do you think about buying bonds right now? Is it a good idea?
People ask these kinds of questions because most people believe that economists only study stocks, bonds, interest rates, inflation, unemployment, and so on. Well, economists do study these things. But these topics are only a tiny part of what economists study. It is not hard to find many economists today, both inside and outside academia, who spend most of their time studying anything but inflation, unemployment, stocks, bonds, and so on.
As we hinted at earlier, much of what economists study may surprise you. There are economists who use their economic tools and methods to study crime, marriage, divorce, sex, obesity, addiction, sports, voting behavior, bureaucracies, presidential elections, and much more. In short, today’s economics is not your grandfather’s economics. Many more topics are studied today in economics than were studied in your grandfather’s time.
Myth 3: People become economists only if they want to “make money.” Awhile back we asked a few well-respected and well-known economists what got them interested in economics. Here is what some of them had to say:1
Gary Becker, the 1992 winner of the Nobel Prize in Economics, said: “I got interested [in economics] when I was an undergraduate in college. I came into college with a strong interest in mathematics, and at the same time with a strong commitment to do something to help society. I learned in the first economics course I took that economics could deal rigorously, à la mathematics, with social problems. That stimulated me because in economics I saw that I could combine both the mathematics and my desire to do something to help society.”
Vernon Smith, the 2002 winner of the Nobel Prize in Economics, said: “My father’s influence started me in science and engineering at Cal Tech, but my mother, who was active in socialist politics, probably accounts for the great interest I found in economics when I took my first introductory course.”
Alice Rivlin, an economist and former member of the Federal Reserve Board, said: “My interest in economics grew out of concern for improving public policy, both domestic and international. I was a teenager in the tremendously idealistic period after World War II when it seemed terribly important to get nations working together to solve the world’s problems peacefully.”
Allan Meltzer said: “Economics is a social science. At its best it is concerned with ways (1) to improve well being by allowing individuals the freedom to achieve their personal aims or goals and (2) to harmonize their individual interests. I find working on such issues challenging, and progress is personally rewarding.”
Robert Solow, the 1987 winner of the Nobel Prize in Economics, said: “I grew up in the 1930s and it was very hard not to be interested in economics. If you were a high school student in the 1930s, you were conscious of the fact that our economy was in deep trouble and no one knew what to do about it.”
Charles Plosser said: “I was an engineer as an undergraduate with little knowledge of economics. I went to the University of Chicago Graduate School of Business to get an MBA and there became fascinated with economics. I was impressed with the seriousness with which economics was viewed as a way of organizing one’s thoughts about the world to address interesting questions and problems.”
Walter Williams said: “I was a major in sociology in 1963 and I concluded that it was not very rigorous. Over the summer I was reading a book by W.E.B. DuBois, Black Reconstruction, and somewhere in the book it said something along the lines that blacks could not melt into the mainstream of American society until they understood economics, and that was something that got me interested in economics.”
Murray Weidenbaum said: “A specific professor got me interested in economics. He was very prescient: He correctly noted that while lawyers dominated the policy-making process up until then (the 1940s), in the future economics would be an important tool for developing public policy. And he was right.”
Irma Adelman said: “I hesitate to say because it sounds arrogant. My reason [for getting into economics] was that I wanted to benefit humanity. And my perception at the time was that economic problems were the most important problems that humanity has to face. That is what got me into economics and into economic development.”
Lester Thurow said: “[I got interested in economics because of] the belief, some would see it as naïve belief, that economics was a profession where it would be possible to help make the world better.”
Myth 4: Economics wasn’t very interesting in high school, so it’s not going to be very interesting in college. A typical high school economics course emphasizes consumer economics and spends much time discussing this topic. Students learn about credit cards, mortgage loans, budgets, buying insurance, renting an apartment, and other such things. These are important topics because not knowing the “ins and outs” of such things can make your life much harder. Still, many students come away from a high school economics course thinking that economics is always and everywhere about consumer topics.
However, a high school economics course and a college economics course are usually as different as day and night. Simply leaf through this book and look at the variety of topics covered compared to the topics you might have covered in your high school economics course. Go on to look at texts used in other economics courses—courses that range from law and economics to history of economic thought to international economics to sports economics—and you will see what we mean.
Myth 5: Economics is a lot like business, but business is more marketable. Although business and economics have some common topics, much that one learns in economics is not taught in business and much that one learns in business is not taught in economics. The area of intersection between business and economics is not large.
Still, many people think otherwise. And so thinking that business and economics are “pretty much the same thing,” they often choose to major in the subject they believe has greater marketability—which they believe is business.
Well, consider the following:
1. A few years ago BusinessWeek magazine asked the chief executive officers (CEOs) of major companies what they thought was the best undergraduate degree. Their first choice was engineering. Their second choice was economics. Economics scored higher than business administration.
2. The National Association of Colleges and Employers undertook a survey in the summer of 2001 in which they identified the starting salary offers in different disciplines. The starting salary in economics/finance was $40,776. The starting salary in business administration was 7.7 percent lower at $37,844.
The Economics Major
If you are like many college students, you may complain that there is just not enough information available to students about the various majors at a college or university. For example, students who major in business sometimes say they are not quite certain what a business major is all about, but then they go on to add that majoring in business is a safe bet. “After all,” they comment, “you are pretty sure of getting a job if you have a business degree. That’s not always the case with other degrees.”
Many college students choose their majors based on their high school courses. History majors sometimes say that they decided to major in history because they “liked history in high school.” Similarly, chemistry, biology, and math majors say they chose chemistry, biology, or math as a college major because they liked studying chemistry, biology, or math in high school. In addition, if a student had a hard time with chemistry in high school and found it boring, then he doesn’t usually want to major in chemistry in college. If a student found both math and economics easy and interesting in high school, then she is likely to major in math or economics.
Students also often look to the dollars at the end of the college degree. A student may enjoy history and want to learn more history in college but tell herself that she will earn a higher starting salary after graduation if she majors in computer science or engineering.
Thus, when choosing a major, students often consider (1) how much they enjoy studying a particular subject, (2) what they would like to see themselves doing in the future, and (3) income prospects.
Different people may weight these three factors differently. But no matter what weights you put on each of the factors, it is always better to have more information than less information, ceteris paribus. (We note “ceteris paribus” because it is not necessarily better having more information than less information if you have to pay more for the additional information than the additional information is worth. Who wants to pay $10 for a piece of information that only provides $1 in benefits?)
We believe this short essay is a fairly low-cost way of providing you with more information about an economics major than you currently have. We start by dispelling some of the misinformation you might possess about an economics major. Stated bluntly, some things that people think about an economics major and about a career in economics are just not true. For example, some people think that economics majors almost never study social relationships; instead, they only study such things as inflation, interest rates, and unemployment. Not true. Economics majors study some of the same things that sociologists, historians, psychologists, and political scientists study. We also provide you with some information about the major that you may not have.
Next, we tell you the specifics of the economics major—what courses you study if you are an economics major, how many courses you are likely to have to take, and more.
Finally, we tell you something about a career in economics. Okay, so you have opted to become an economics major. But the day will come when you have your degree in hand. What’s next? What is your starting salary likely to be? What will you be doing? Are you going to be happy doing what economists do? (If you never thought economics was about happiness, you already have some misinformation about economics. Contrary to what most laypeople think, economics is not just about money. It is about happiness too.)
Thursday, March 24, 2011
Privacy Policy
Privacy Policy for http://ecomajorsalary.blogspot.com/
If you require any more information or have any questions about our privacy policy, please feel free to contact us by email atcahyaningyuani@gmail.com .
At ecomajorsalary.blogspot.com, the privacy of our visitors is of extreme importance to us. This privacy policy document outlines the types of personal information is received and collected by ecomajorsalary.blogspot.com and how it is used.
Log Files
Like many other Web sites, ecomajorsalary.blogspot.com makes use of log files. The information inside the log files includes internet protocol ( IP ) addresses, type of browser, Internet Service Provider ( ISP ), date/time stamp, referring/exit pages, and number of clicks to analyze trends, administer the site, track user’s movement around the site, and gather demographic information. IP addresses, and other such information are not linked to any information that is personally identifiable.
Cookies and Web Beacons
ecomajorsalary.blogspot.com does use cookies to store information about visitors preferences, record user-specific information on which pages the user access or visit, customize Web page content based on visitors browser type or other information that the visitor sends via their browser.
DoubleClick DART Cookie
.:: Google, as a third party vendor, uses cookies to serve ads on ecomajorsalary.blogspot.com.
.:: Google's use of the DART cookie enables it to serve ads to users based on their visit to ecomajorsalary.blogspot.com and other sites on the Internet.
.:: Users may opt out of the use of the DART cookie by visiting the Google ad and content network privacy policy at the following URL - http://www.google.com/privacy_ads.html
Some of our advertising partners may use cookies and web beacons on our site. Our advertising partners include ....
Google Adsense
Amazon
These third-party ad servers or ad networks use technology to the advertisements and links that appear on ecomajorsalary.blogspot.com send directly to your browsers. They automatically receive your IP address when this occurs. Other technologies ( such as cookies, JavaScript, or Web Beacons ) may also be used by the third-party ad networks to measure the effectiveness of their advertisements and / or to personalize the advertising content that you see.
ecomajorsalary.blogspot.com has no access to or control over these cookies that are used by third-party advertisers.
You should consult the respective privacy policies of these third-party ad servers for more detailed information on their practices as well as for instructions about how to opt-out of certain practices. ecomajorsalary.blogspot.com's privacy policy does not apply to, and we cannot control the activities of, such other advertisers or web sites.
If you wish to disable cookies, you may do so through your individual browser options. More detailed information about cookie management with specific web browsers can be found at the browsers' respective websites.
If you require any more information or have any questions about our privacy policy, please feel free to contact us by email atcahyaningyuani@gmail.com .
At ecomajorsalary.blogspot.com, the privacy of our visitors is of extreme importance to us. This privacy policy document outlines the types of personal information is received and collected by ecomajorsalary.blogspot.com and how it is used.
Log Files
Like many other Web sites, ecomajorsalary.blogspot.com makes use of log files. The information inside the log files includes internet protocol ( IP ) addresses, type of browser, Internet Service Provider ( ISP ), date/time stamp, referring/exit pages, and number of clicks to analyze trends, administer the site, track user’s movement around the site, and gather demographic information. IP addresses, and other such information are not linked to any information that is personally identifiable.
Cookies and Web Beacons
ecomajorsalary.blogspot.com does use cookies to store information about visitors preferences, record user-specific information on which pages the user access or visit, customize Web page content based on visitors browser type or other information that the visitor sends via their browser.
DoubleClick DART Cookie
.:: Google, as a third party vendor, uses cookies to serve ads on ecomajorsalary.blogspot.com.
.:: Google's use of the DART cookie enables it to serve ads to users based on their visit to ecomajorsalary.blogspot.com and other sites on the Internet.
.:: Users may opt out of the use of the DART cookie by visiting the Google ad and content network privacy policy at the following URL - http://www.google.com/privacy_ads.html
Some of our advertising partners may use cookies and web beacons on our site. Our advertising partners include ....
Google Adsense
Amazon
These third-party ad servers or ad networks use technology to the advertisements and links that appear on ecomajorsalary.blogspot.com send directly to your browsers. They automatically receive your IP address when this occurs. Other technologies ( such as cookies, JavaScript, or Web Beacons ) may also be used by the third-party ad networks to measure the effectiveness of their advertisements and / or to personalize the advertising content that you see.
ecomajorsalary.blogspot.com has no access to or control over these cookies that are used by third-party advertisers.
You should consult the respective privacy policies of these third-party ad servers for more detailed information on their practices as well as for instructions about how to opt-out of certain practices. ecomajorsalary.blogspot.com's privacy policy does not apply to, and we cannot control the activities of, such other advertisers or web sites.
If you wish to disable cookies, you may do so through your individual browser options. More detailed information about cookie management with specific web browsers can be found at the browsers' respective websites.
The Business Economics Major
If you wish you had known more before this economic recession hit and you find yourself brainstorming ways out of this mess, then perhaps pursing a Business Economics major is for you! At an economics college, you'll learn about many aspects of business, management, finance, marketing and corporate planning, in addition to the money management issues of today. The majority of people working in applied economics hold positions as forecasters, analysts, market researchers, government workers and client support personnel.
As you may have heard, the choice of school and the pursuit of a degree are extremely important in determining your success in economics. Just about every school offers macro economics and microeconomics courses, but to really get ahead, you'll want to get into a graduate school with the best department of Economics you can find. The best schools may offer more passionate teachers, better internship options, more extensive areas of study and the sort of prestige you'll need when looking to start your career in the competitive labor market.
When choosing classes from a school's department of Economics, the best advice is to take more math courses! It can be easy to fall behind in your studies if you aren't crystal clear on the statistics, calculus and mathematical concepts. When you were trying to get your bachelor's degree in economics, you were likely scanning the course options for "easy electives" and ways of pulling your GPA up. However, graduate schools care most about what hard classes you've taken and how well you did in them, rather than your GPA as a whole. Be sure you take real analysis, calculus and econometrics, as these classes will be vital to your understanding.
To get an undergrad degree in Business Economics, students attending an accredited economics university will need to take courses like macro economics, microeconomics, financial accounting and reporting, calculus, economics statistics, econometrics, money/banking/credit, business writing, the stock market, labor economics, monetary economics, international trade theory, law and economics, industrial organization, economics and business strategy, organizational psychology, formal organizations and politics and the economy.
The average starting salary for economists is $38,000 for a bachelor's degree, $48,000 for a master's and $70,000 for a PhD, according to a 2002 National Association of Business Economics survey. The median income for the economics major is higher than any other major, experts say. Economics research also suggests that economics majors earn 20% more than business administration majors, 19% more than accounting majors, 18% more than marketing majors and 15% more than finance majors. When a potential employer sees this major on a resume, he or she immediately understands that you have a solid foundation of math, politics, business and economic theory. Your degree also shows that you have the capacity to process complex subjects and problem solve, which is valuable in any field.
According to US News & World Report, Harvard University in Boston, Massachusetts is the top-rated school for Business Economics. The second-best university in this field is Stanford in California and Northwestern University in Illinois. After the top-three, other economics college options include the University of Pennsylvania (Wharton) in Philadelphia, the Massachusetts Institute of Technology (Sloan) in Cambridge, the University of Chicago, UC-Berkeley in California, Dartmouth College in New Hampshire, Columbia University in New York City and Yale University in Connecticut. It's highly recommended that individuals looking to remain competitive in their field pursue advanced education with Master's or PhD's.
Unlike undergrad, the department of Economics in grad schools looks to cultivate the best and brightest talent. Most students are granted a fellowship, assistantship, grant, tuition remission or monthly stipend to cover the cost of the program and living expenses. Be aware that you'll be required to do a lot of dirty work for your money, like grading, teaching, lecturing, leading weekly section meetings, researching and writing. If a lot of students are admitted, then you may still need to pay or seek NSF grants on your own. The good news is that, after all their hard work, 99% of graduate students get placed into applied economics positions right out of grad school.
As you may have heard, the choice of school and the pursuit of a degree are extremely important in determining your success in economics. Just about every school offers macro economics and microeconomics courses, but to really get ahead, you'll want to get into a graduate school with the best department of Economics you can find. The best schools may offer more passionate teachers, better internship options, more extensive areas of study and the sort of prestige you'll need when looking to start your career in the competitive labor market.
When choosing classes from a school's department of Economics, the best advice is to take more math courses! It can be easy to fall behind in your studies if you aren't crystal clear on the statistics, calculus and mathematical concepts. When you were trying to get your bachelor's degree in economics, you were likely scanning the course options for "easy electives" and ways of pulling your GPA up. However, graduate schools care most about what hard classes you've taken and how well you did in them, rather than your GPA as a whole. Be sure you take real analysis, calculus and econometrics, as these classes will be vital to your understanding.
To get an undergrad degree in Business Economics, students attending an accredited economics university will need to take courses like macro economics, microeconomics, financial accounting and reporting, calculus, economics statistics, econometrics, money/banking/credit, business writing, the stock market, labor economics, monetary economics, international trade theory, law and economics, industrial organization, economics and business strategy, organizational psychology, formal organizations and politics and the economy.
The average starting salary for economists is $38,000 for a bachelor's degree, $48,000 for a master's and $70,000 for a PhD, according to a 2002 National Association of Business Economics survey. The median income for the economics major is higher than any other major, experts say. Economics research also suggests that economics majors earn 20% more than business administration majors, 19% more than accounting majors, 18% more than marketing majors and 15% more than finance majors. When a potential employer sees this major on a resume, he or she immediately understands that you have a solid foundation of math, politics, business and economic theory. Your degree also shows that you have the capacity to process complex subjects and problem solve, which is valuable in any field.
According to US News & World Report, Harvard University in Boston, Massachusetts is the top-rated school for Business Economics. The second-best university in this field is Stanford in California and Northwestern University in Illinois. After the top-three, other economics college options include the University of Pennsylvania (Wharton) in Philadelphia, the Massachusetts Institute of Technology (Sloan) in Cambridge, the University of Chicago, UC-Berkeley in California, Dartmouth College in New Hampshire, Columbia University in New York City and Yale University in Connecticut. It's highly recommended that individuals looking to remain competitive in their field pursue advanced education with Master's or PhD's.
Unlike undergrad, the department of Economics in grad schools looks to cultivate the best and brightest talent. Most students are granted a fellowship, assistantship, grant, tuition remission or monthly stipend to cover the cost of the program and living expenses. Be aware that you'll be required to do a lot of dirty work for your money, like grading, teaching, lecturing, leading weekly section meetings, researching and writing. If a lot of students are admitted, then you may still need to pay or seek NSF grants on your own. The good news is that, after all their hard work, 99% of graduate students get placed into applied economics positions right out of grad school.
How to Earn Impressive Actuarial Salary?
Nature of Work
As mentioned above, an actuary's primary responsibility is to create strategies that can capacitate any financial business with strength and insight to counter uncertainties and unfavorable impacts. Actuaries are mostly found in the field of insurance where they calculate the effects of major incidents like natural disasters, accidents and deaths. Through such assessment, actuaries help minimize the impact of losses on their clients' finances. Collection of pertinent data and study of the same are major parts of an actuary's professional duties.
Educational Qualification
To become an actuary, you could take up an advanced degree in actuarial science. You can also achieve competency in this field of study by taking up online education. An actuarial science degree consists of subjects like calculus, statistics, business communication, finance and economics. Apart from an actuarial science degree, a degree in economics, math, finance or even business can make you an actuary. Though the actuarial science degree is the most preferred, you can successfully get a job only when you clear the actuarial exams.
Compensation
Actuarial jobs are considered niche all over the world. In the United Kingdom, there are only about 9000 registered actuaries presently. While very few students prepare to be actuaries, the demand for them is quite high. For the very same reason, actuaries are paid high salaries. Actuarial salary in the United States can range from anywhere between $55, 000 and $115, 000. The pay of a student holding an actuarial science degree can start anywhere between $50, 000 and $54, 000.
Actuarial salary being higher than packages paid in most other jobs, are decided on the basis of a few factors like the duration of professional experience, actuary examination passed and the knowledge of computers.
The best actuarial jobs are out there. With the right education, you too can get impressive actuarial salary. Visit the State University website to read Michael Russell talk about all the recent information on online degrees related to actuarial science and associated careers.
As mentioned above, an actuary's primary responsibility is to create strategies that can capacitate any financial business with strength and insight to counter uncertainties and unfavorable impacts. Actuaries are mostly found in the field of insurance where they calculate the effects of major incidents like natural disasters, accidents and deaths. Through such assessment, actuaries help minimize the impact of losses on their clients' finances. Collection of pertinent data and study of the same are major parts of an actuary's professional duties.
Educational Qualification
To become an actuary, you could take up an advanced degree in actuarial science. You can also achieve competency in this field of study by taking up online education. An actuarial science degree consists of subjects like calculus, statistics, business communication, finance and economics. Apart from an actuarial science degree, a degree in economics, math, finance or even business can make you an actuary. Though the actuarial science degree is the most preferred, you can successfully get a job only when you clear the actuarial exams.
Compensation
Actuarial jobs are considered niche all over the world. In the United Kingdom, there are only about 9000 registered actuaries presently. While very few students prepare to be actuaries, the demand for them is quite high. For the very same reason, actuaries are paid high salaries. Actuarial salary in the United States can range from anywhere between $55, 000 and $115, 000. The pay of a student holding an actuarial science degree can start anywhere between $50, 000 and $54, 000.
Actuarial salary being higher than packages paid in most other jobs, are decided on the basis of a few factors like the duration of professional experience, actuary examination passed and the knowledge of computers.
The best actuarial jobs are out there. With the right education, you too can get impressive actuarial salary. Visit the State University website to read Michael Russell talk about all the recent information on online degrees related to actuarial science and associated careers.
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