Actuary Career Path Guide

18%

growth rate

$110,000

median salary

remote-friendly

📈 Market Demand

Low

High

The demand for actuaries is high, driven by the increasing complexity in insurance, pension planning, and financial risk management, alongside expanding regulatory requirements across industries.

🇺🇸 Annual Salary (US, USD)

70,000—150,000

Median: $110,000

Entry-Level: $82,000
Mid-Level: $110,000
Senior-Level: $138,000

Top 10% of earners in this field can expect salaries starting from $150,000+ per year, especially with specialized skills in high-demand areas.

Core Functions of the Actuary Role

Actuaries specialize in analyzing financial risks using mathematics, statistics, and financial theory. They provide the quantitative foundation that helps businesses and organizations manage uncertainty around future events, particularly in sectors like insurance, pensions, finance, and healthcare. Their work drives critical decisions surrounding premium setting, reserves, investments, and risk mitigation strategies.

The role advances beyond number crunching by incorporating economic, demographic, and regulatory insights. Actuaries develop complex models to predict the likelihood of events such as death, illness, accidents, or natural disasters and the financial consequences that follow. Their expertise shapes policies that protect companies against unforeseen losses while ensuring compliance with legal standards.

Combining analytical rigor with communication skills, actuaries bridge the gap between raw data and actionable advice. Whether working on pricing new insurance products, evaluating pension liabilities, or advising on enterprise risk management, actuaries are fundamental to financial stability. Their work frequently requires collaboration across departments including underwriting, finance, and executive leadership to align risk appetite with strategic goals.

Actuaries increasingly integrate cutting-edge technologies—like predictive analytics, machine learning, and cloud computing—into their toolkits. These innovations enable more nuanced risk assessments and faster processing of vast data sets. As industries evolve with changing regulations and economic conditions, the role of the actuary remains dynamic and highly relevant, tapping into problem-solving skills that combine technical knowledge with business insight.

Key Responsibilities
Develop and maintain mathematical models to assess risk probabilities and financial impact.
Analyze data and trends related to insurance claims, mortality, morbidity, and economic indicators.
Calculate premiums, reserves, and policy liabilities to ensure financial soundness of insurance products.
Conduct experience studies and loss reserve analyses to refine actuarial assumptions and improve forecasting accuracy.
Communicate complex technical information clearly to non-technical stakeholders, including executives and regulators.
Collaborate with underwriters, financial analysts, and product managers to design profitable insurance products.
Evaluate pension plans and employee benefit programs for sustainability and compliance with regulatory standards.
Prepare reports and documentation for actuarial valuations, audits, and regulatory submissions.
Advise management on risk management strategies, including reinsurance, diversification, and hedging.
Monitor emerging risks such as climate change, cyber threats, and pandemics, incorporating them into models and strategies.
Ensure actuarial work adheres to professional standards, ethics, and legal requirements set by relevant bodies.
Use software tools for data extraction, statistical analysis, and predictive modeling.
Participate in the actuarial exams and continuing education to stay current with methodologies and regulations.
Contribute to the pricing and financial projections of insurance products in competitive markets.
Support enterprise risk management initiatives by quantifying risk exposures across business units.

Work Setting

Actuaries typically work within office settings, often as part of finance, risk, or actuarial departments. The environment is predominantly professional and collaborative, involving cross-functional teams such as underwriting, finance, IT, and compliance. Meetings to discuss model results, risk management strategies, or regulatory implications are regular. While mostly desk-based, actuaries do spend time interpreting data visualizations and reviewing statistical reports.

With the proliferation of remote work in many sectors, some actuarial roles provide flexibility, though traditional actuarial teams prefer face-to-face collaboration to discuss complex concepts. The role demands long periods of focused analysis but also offers opportunities to present findings and influence business strategies. Deadlines may coincide with financial reporting cycles or regulatory submission dates, occasionally necessitating extended work hours.

Tech Stack

Microsoft Excel (Advanced functions and macros)
SQL (Data extraction and manipulation)
R (Statistical analysis and modeling)
Python (Scripting, machine learning applications)
SAS (Data analytics and reporting)
VBA (Automation within Excel)
Tableau (Data visualization)
Power BI (Business intelligence reporting)
Prophecy (Actuarial software for reserving and pricing)
MoSes (Actuarial cash flow modeling software)
GGY AXIS (Life insurance product modeling)
IAS (Insurance Analytics software suites)
Milliman’s MG-ALFA (Risk management and economic capital modeling)
Pivot Tables (Data aggregation in spreadsheets)
EViews (Econometric analysis)
Stata (Data management and statistical analysis)
Cloud platforms (Amazon AWS, Azure for data storage and compute)
Git or version control tools (Collaborative coding and documentation)
Actuarial exam preparation software and study tools

Skills and Qualifications

Education Level

A strong foundation in mathematics, statistics, finance, economics, or related quantitative disciplines is essential for aspiring actuaries. Most professionals in this field hold at least a bachelor's degree in actuarial science, mathematics, statistics, finance, or economics. These programs equip students with critical skills in probability theory, financial mathematics, and statistical inference, which form the backbone of actuarial work.

Aspiring actuaries often pursue coursework in computer science and database management, as programming and data manipulation are integral to the role. Beyond formal education, specialized actuarial exams provide systematic training and validation of an individual's technical competence and business knowledge. These exams are rigorous and cover topics such as financial mathematics, life contingencies, risk models, and actuarial modeling.

While a bachelor’s degree forms the baseline, many actuaries enhance their credentials with advanced degrees such as a Master's in Actuarial Science, Statistics, or Business Analytics. These advanced studies deepen analytical capabilities while offering exposure to emerging tools and methodologies. Employers highly value candidates actively progressing through professional certification processes with the Society of Actuaries (SOA), Casualty Actuarial Society (CAS), or similar international bodies. Maintaining continuing education is mandatory, as the profession evolves alongside shifts in regulation, technology, and economic conditions.

Tech Skills

Probability and Statistical Analysis
Financial Mathematics
Actuarial Modeling
Data Mining and Predictive Analytics
Programming in Python and R
Advanced Microsoft Excel (Macros & VBA)
Database Querying with SQL
Risk Assessment and Management Techniques
Experience Studies and Trend Analysis
Simulation Modeling
Use of Actuarial Software (e.g., Prophet, MoSes, AXIS)
Economic Capital Modeling
Experience with Regulatory Frameworks (e.g., Solvency II, GAAP, IFRS)
Data Visualization Tools (Tableau, Power BI)
Machine Learning Fundamentals

Soft Abilities

Analytical Thinking
Problem Solving
Attention to Detail
Effective Communication
Collaboration and Teamwork
Business Acumen
Time Management
Adaptability
Ethical Judgment
Presentation Skills

Path to Actuary

Entering the actuarial profession requires a blend of formal education, rigorous examination, and practical experience. Starting in high school, budding actuaries benefit from excelling in mathematics, calculus, statistics, and economics. Early familiarity with programming and data analysis tools adds an edge.

After securing a bachelor’s degree in a quantitative field, the next step is to pass a series of actuarial exams administered by professional bodies like the Society of Actuaries (SOA) or Casualty Actuarial Society (CAS). These exams are divided into preliminary and advanced levels covering mathematical foundations, actuarial models, statistics, and business knowledge. It’s advisable to begin exam preparation alongside college studies or immediately after graduation, as success demands consistent, focused effort.

Gaining practical experience through internships or entry-level actuarial analyst positions is invaluable. Internships allow candidates to apply classroom learning in real business contexts, interact with experienced actuaries, and develop professional skills. Many firms sponsor their employees’ exam fees and provide mentoring opportunities. Progressing through exams while accumulating relevant work experience forms the core pathway to full professional credentials.

Throughout the journey, networking with professionals, joining actuarial clubs or associations, and attending industry events will broaden career outlook and provide guidance on certification pathways. Continuing education beyond initial qualification remains crucial as the profession continuously evolves with new regulations, technologies, and emerging risks.

Persistence and dedication are key as actuarial certification demands passing multiple difficult exams. However, once qualified, actuaries enjoy diverse career paths, global mobility, and roles in high-impact decision making that influence financial markets and social policies.

Required Education

The educational journey for an actuary typically starts with obtaining a bachelor's degree in actuarial science, mathematics, statistics, economics, or finance. University programs tailored to actuarial science provide students with targeted training in probability theory, financial mathematics, and statistical methods while often including coursework in economics, computer science, and risk management. Many schools collaborate with professional actuarial bodies to align curricula with exam requirements.

Professional certification is the cornerstone to becoming a fully credentialed actuary. In the United States, most pursue certifications through the Society of Actuaries (SOA) for life, health, pensions, and investment topics or the Casualty Actuarial Society (CAS) for property and casualty insurance. The process involves successfully passing a sequence of challenging exams focused on probability, financial mathematics, actuarial modeling, and professionalism. These exams require months of dedicated self-study or participation in formal preparation courses.

Trainees often begin working in actuarial analyst roles while progressing through exams. This practical experience reinforces learning and hones skills in data analysis, software applications, and business communication. Some employers further encourage continuing education through seminars, workshops, and advanced training modules that cover advanced modeling techniques, regulatory changes, and emerging areas like predictive analytics.

Global actuarial organizations offer additional credentials such as the Chartered Enterprise Risk Analyst (CERA) and international designations recognized worldwide. Numerous universities now also offer master’s degrees in actuarial science or risk management, which appeal to professionals seeking specialization or leadership roles.

Maintaining professional membership and continuing education ensures actuaries remain current on evolving industry standards, new technologies, and emerging risks such as cyber threats or climate change. Many workplaces mandate annual credits in professional development, ethical standards, and technical renewal, ensuring continued competence and relevance throughout an actuary’s career.

Career Path Tiers

Entry-Level Actuarial Analyst

Experience: 0-2 years

Newly graduated actuaries typically start as actuarial analysts supporting senior professionals by performing data preparation, basic analyses, and preliminary modeling. Their responsibilities include cleaning and validating data sets, running standard statistical reports, and assisting in the development of pricing and reserving models under supervision. They focus heavily on passing preliminary actuarial exams, developing technical proficiency with actuarial software, and building foundational knowledge in risk metrics. Communication within the team and understanding business processes become priorities. This stage emphasizes learning through mentorship, practical experience, and applied exam preparation.

Mid-Level Actuarial Associate

Experience: 3-5 years

At this stage, actuaries become more technically independent, developing and reviewing complex models and conducting scenario testing. They start taking ownership of specific projects such as product pricing, claims reserving, or pension valuations. Passing additional professional exams or earning associate-level credentials signifies professional progress. Actuarial associates regularly present findings internally and may start interfacing with external auditors or regulators. They hone soft skills like project management and business communication. Collaboration across departments increases as they provide actionable insights influencing company strategy.

Senior Actuary

Experience: 6-10 years

Senior actuaries lead major modeling projects, manage teams, and deliver comprehensive risk assessments to senior management. They refine actuarial assumptions, validate methods, and ensure compliance with regulatory frameworks. Senior professionals contribute to strategic decisions around product development, capital management, and corporate risk policies. Acting as mentors, they help junior actuaries progress through exams and career development. They must stay abreast of industry trends, technological advances, and regulatory changes, frequently representing their organization in professional and client-facing settings.

Principal or Lead Actuary

Experience: 10+ years

Leading actuarial functions or departments, principal actuaries drive enterprise-wide risk strategies and long-term planning. They collaborate directly with C-suite executives and board members, translating actuarial insights into high-level business decisions. These leaders often engage in regulatory negotiations, public speaking, and thought leadership within and outside their organization. Their role focuses on innovation, overseeing adoption of new analytical tools, and mentoring emerging actuarial talent. A principled commitment to ethics, accuracy, and forward-thinking risk management defines this career pinnacle.

Global Outlook

The actuarial profession has a truly global footprint, with demand spanning North America, Europe, Asia Pacific, and emerging markets. The United States and Canada remain major hubs, supported by well-established insurance industries, pension systems, and sophisticated financial markets. The Society of Actuaries and Casualty Actuarial Society certifications are widely recognized here and support international mobility.

Europe boasts mature actuarial sectors, particularly in the UK, Ireland, and Switzerland. The Institute and Faculty of Actuaries in the UK provides a comparable exam structure, enabling actuaries to work seamlessly across many countries. Regulatory regimes like Solvency II also harmonize standards across EU markets.

Asia is experiencing rapid growth in insurance and financial services, with opportunities in countries like China, India, Japan, and Singapore expanding quickly. The demand for actuarial expertise in managing emerging risks such as climate change, evolving healthcare models, and digitization drives growth. Local actuarial associations are expanding certification programs to raise standards and integrate global best practices.

Australia and New Zealand have robust actuarial communities, supported by stable markets and regional demand for risk management in finance, construction, and healthcare.

Emerging economies in Latin America and Africa are gradually building actuarial infrastructure, fueled by insurance sector expansion and government pension reforms. International firms often partner with local actuaries or establish offices, creating opportunities for skills transfer and career development.

Globalization, combined with standardized exam credentials and online education platforms, is making it easier for actuaries to relocate or work cross-border. Nonetheless, understanding regional regulation, cultural business norms, and language nuances remains critical for success in international roles. Actuaries with bilingual skills or specialized knowledge of local risks are especially prized in multinational companies and consulting firms.

Job Market Today

Role Challenges

The actuarial profession faces multiple concurrent challenges. The pace of technological change demands continual upskilling as predictive analytics, machine learning, and big data transform traditional modeling approaches. Integrating complex new data sources such as social media and IoT devices requires actuaries to broaden expertise beyond classical statistics. Regulatory environments continue evolving, adding layers of compliance and oversight that complicate reporting and capital requirements. Furthermore, global economic uncertainty, changing demographics, and emerging risks like cybercrime and climate change add variability and complexity that actuaries must model accurately. Recruitment of talent is competitive, with many organizations seeking candidates who combine strong technical skills with business acumen and communication capabilities. The length and difficulty of the certification process can discourage potential entrants, adding supply constraints. Economic downturns or market volatility can impact insurance sales and pension funding, directly affecting actuarial roles and job security. Lastly, the profession confronts the challenge of maintaining public trust and demonstrating relevance in a fast-changing financial services landscape.

Growth Paths

Despite challenges, growth prospects for actuaries remain strong. The continual expansion of data analytics and artificial intelligence creates new avenues for actuaries to add value by developing more precise risk models and forecasts. Regulatory reforms and increasing capital requirements sustain demand for actuarial expertise in compliance and risk management. Emerging risks such as climate change, pandemics, and cyber threats drive demand for innovative insurance products and risk solutions. Actuaries increasingly move beyond traditional insurance sectors into arenas like finance, healthcare analytics, enterprise risk management, and consulting. Their skill set enables roles in business strategy, capital planning, and investment risk where quantitative decision-making is essential. The aging global population intensifies focus on pension funding and retirement planning, staking new opportunities in actuarial services. Additionally, globalization opens doors to careers abroad in growing markets and multinational firms. The profession’s embrace of technology means actuaries who keep pace with new tools and programming languages will be increasingly sought after. Continuous professional development combined with interdisciplinary collaboration positions actuaries for leadership and specialized career tracks.

Industry Trends

The actuarial profession is evolving rapidly, shaped by technological and social trends. Predictive analytics and machine learning supplement classical actuarial models, enabling actuaries to analyze vast and unstructured datasets to identify patterns not previously discernible. Automation of routine calculations lets actuaries focus on interpretation, strategy, and communication of risk insights. The growing integration of climate science into actuarial models reflects the urgent need to quantify environmental risk. Cyber insurance is a fast-growing area, requiring new actuarial frameworks to capture digital vulnerabilities. Regulatory regimes such as IFRS 17 and changes in health care policy globally push actuaries to update valuation and reporting standards. Hybrid roles blending actuarial expertise with data science and analytics are emerging, as are career paths within FinTech and InsurTech companies. Remote and hybrid work arrangements become more common, facilitated by cloud computing and collaboration tools. Ethical considerations and transparency in actuarial modeling are also gaining importance with stakeholders demanding clear communication of assumptions and limitations.

A Day in the Life

Morning (9:00 AM - 12:00 PM)

Focus: Data Analysis and Model Development

Reviewing and validating data sets for accuracy and completeness.
Running preliminary statistical tests and exploratory data analysis.
Building or updating actuarial models using software tools.
Assessing the assumptions underlying risk calculations.
Collaborating with data engineers and IT to access databases.

Afternoon (12:00 PM - 3:00 PM)

Focus: Cross-Functional Collaboration and Strategy

Meeting with underwriting or product teams to discuss findings.
Explaining modeling outcomes to non-technical stakeholders.
Advising on pricing strategies or reserving policies.
Preparing reports that summarize risk assessments and forecasts.

Late Afternoon (3:00 PM - 6:00 PM)

Focus: Professional Development and Reporting

Studying for actuarial exams or completing continuous education modules.
Documenting methodologies and assumptions for regulatory compliance.
Responding to audit inquiries or regulatory requests.
Planning next steps for model refinement and project updates.

Work-Life Balance & Stress

Stress Level: Moderate

Balance Rating: Good

Actuaries typically experience a manageable work-life balance, with occasional periods of intensified workload particularly during regulatory deadlines or financial reporting cycles. The analytical nature of the job requires sustained focus, and exam preparation can add substantial pressure early in the career. Supportive team environments and flexible working arrangements—some increasingly remote—help maintain balance. Experienced actuaries often gain more autonomy over schedules, allowing them to pace tasks effectively. The intellectual challenge combined with structured career paths makes the profession rewarding yet demanding at times.

Skill Map

This map outlines the core competencies and areas for growth in this profession, showing how foundational skills lead to specialized expertise.

Foundational Skills

Essential quantitative and analytical competencies that underpin all actuarial work.

Probability and Statistics
Financial Mathematics
Basic Actuarial Modeling
Microsoft Excel Proficiency
Data Interpretation and Validation

Advanced Technical Skills

Specialized mathematical and computational techniques for complex risk assessment.

Loss Reserving Techniques
Predictive Analytics and Machine Learning
Programming in Python and R
Actuarial Software Proficiency (Prophecy, MoSes, AXIS)
Economic Capital and Enterprise Risk Modeling

Professional & Interpersonal Skills

Non-technical skills necessary for effective communication, ethics, and business impact.

Clear Communication of Complex Concepts
Ethical Decision Making
Stakeholder Engagement
Project Management
Business Acumen and Strategic Thinking

Pros & Cons for Actuary

✅ Pros

High earning potential from early career stages with steady salary growth.
Strong job security due to consistent demand across industries.
Intellectually stimulating work involving problem solving and modeling.
Clear professional development path with well-defined certifications.
Opportunities for global career mobility and diverse work environments.
Ability to influence major financial and business decisions.

❌ Cons

Exams are extremely challenging and require significant time investment.
Workloads can intensify around reporting deadlines and exams.
Technical nature of work may feel isolated for those preferring social interactions.
Continuous learning and staying updated is mandatory due to evolving fields.
Sometimes difficulty communicating highly technical information to non-experts.
Initial entry barriers can be high for those without quantitative backgrounds.

Common Mistakes of Beginners

Underestimating the time commitment required to pass actuarial exams.
Focusing only on technical skills and neglecting communication and business knowledge.
Relying too heavily on software without fully understanding underlying actuarial concepts.
Poor time management leading to missed deadlines or inadequate exam preparation.
Failing to seek mentorship or professional networking early in the career.
Avoiding tough projects that can build critical analytical and interpersonal skills.
Not keeping up with industry trends, regulations, and continuing education.
Trying to do everything independently rather than collaborating with team members.

Contextual Advice

Start exam preparation early and maintain consistent study habits.
Invest time in improving communication skills to explain complex concepts simply.
Build proficiency in programming languages like Python and R to complement modeling.
Pursue internships that provide practical exposure alongside academic knowledge.
Engage with actuarial societies and attend conferences to network and learn.
Balance study with real-world application to deepen understanding.
Stay curious about emerging risks and technologies reshaping the profession.
Maintain ethical standards and transparency in all actuarial work.

Examples and Case Studies

Actuarial Model Redesign for a Large Insurer

A leading insurance company recognized gaps in their loss reserving accuracy causing financial reporting challenges. Senior actuaries led a project to redesign their reserving models incorporating machine learning algorithms to better forecast claims development. They integrated new data sources and automated data processing pipelines to improve efficiency. The result was improved capital allocation, deeper insights into risk drivers, and enhanced regulatory compliance.

Key Takeaway: Innovative actuarial modeling combined with technology can identify hidden risk factors and drive material financial benefits, highlighting the evolving role of actuaries as strategic problem solvers.

Pension Fund Risk Assessment Amid Demographic Change

An actuary working with a corporate pension fund analyzed the impact of increasing life expectancy on liabilities. By revising mortality assumptions and integrating stochastic modeling techniques, they provided new forecasts that informed funding strategy adjustments. Communication with fund trustees ensured understanding and agreement on the implications, avoiding funding shortfalls.

Key Takeaway: Actuaries play a vital role in managing societal risks, translating demographic trends into actionable business decisions for long-term financial sustainability.

Cyber Insurance Product Development

In response to rising cyber threats, an actuarial team collaborated with IT security experts to create a cyber insurance product. They developed new loss models based on historical incident data, emerging threat intelligence, and scenario analysis. Their work balanced innovative product design with prudent risk controls. Early underwriting results showed positive market reception.

Key Takeaway: Expanding into emerging risk sectors demands actuaries to adapt methodologies and work cross-functionally, proving their ability to innovate under uncertainty.

Portfolio Tips

While actuaries are often judged primarily on certifications and experience, a well-crafted portfolio can uniquely showcase your analytical abilities and project successes. Tailor your portfolio to highlight the diversity of your actuarial projects, including modeling, pricing, reserving, and risk management assignments. Include descriptions of the business challenges tackled, technical methods used, and results achieved. Where possible, add visuals such as graphs, dashboards, or snippets of code that illustrate your quantitative skills.

Document your proficiency with programming, statistical tools, and actuarial software. Demonstrate how you applied these tools to solve real-world problems or deliver insights. Explain your role within team projects to highlight collaboration and communication skills.

A strong portfolio also reflects your progression through actuarial exams and any relevant continuing education. Mention any presentations or papers given at industry conferences or internal knowledge-sharing sessions.

As data privacy and confidentiality are paramount, ensure that any client or company information included is anonymized or generalized. Maintaining a professional tone and clear organization makes your portfolio easy to navigate.

Regularly update your portfolio as you advance your career and complete new projects. In addition to a digital portfolio, consider creating a LinkedIn profile and personal website to showcase your skills and network with prospective employers or clients.

Constructive feedback from mentors or colleagues can improve the quality and focus of your portfolio. Remember, a portfolio is not just a demonstration of technical ability but also a communication tool reflecting how you add value as an actuary.

Job Outlook & Related Roles

Growth Rate: 18%
Status: Growing much faster than average
Source: U.S. Bureau of Labor Statistics

Related Roles

Frequently Asked Questions

What is the typical exam process for becoming an actuary?

The actuarial exam process usually starts with passing preliminary exams focusing on probability, financial mathematics, and actuarial models. In the U.S., candidates pursue certifications through the Society of Actuaries (SOA) or Casualty Actuarial Society (CAS), each offering a series of exams tailored to different practice areas. After preliminary exams, candidates must pass specialized and advanced exams and complete additional modules covering professionalism and business skills. The entire process can take several years, with many balancing work and study.

Are actuaries in demand globally?

Yes, actuaries are in demand worldwide due to the universal need to assess and manage financial risk. While the U.S., Canada, and Europe have mature actuarial markets, emerging economies in Asia, Latin America, and Africa are growing their actuarial sectors rapidly. This global demand offers opportunities for mobility and specialization, although regional regulatory knowledge and certifications can influence employability.

How important is programming knowledge in actuarial work?

Programming is increasingly important for actuaries. Languages like Python and R enable advanced data analysis, automation, and machine learning, supplementing traditional actuarial software. Proficiency in programming improves modeling accuracy and efficiency and broadens the scope of actuarial analysis.

What soft skills are critical for actuaries?

Soft skills such as clear communication, teamwork, ethical judgment, and business acumen are critical. Actuaries often present complex findings to stakeholders without technical backgrounds and must collaborate across departments. These skills enhance career advancement and effectiveness.

Can actuaries work remotely?

Many actuarial tasks can be done remotely, especially data analysis and modeling. The COVID-19 pandemic accelerated remote work acceptance in the profession. However, collaboration-heavy roles or client interaction may still require in-office presence. The extent of remote work varies by organization.

What industries employ actuaries beyond insurance?

Beyond insurance, actuaries find roles in pension and retirement planning, healthcare analytics, banking and finance, enterprise risk management, government policy, and consulting. Their quantitative risk assessment skills are valuable in any industry managing financial uncertainty.

How long does it take to become a fully qualified actuary?

It typically takes between 5 and 7 years to become a fully qualified actuary after starting the professional exam process, although timelines vary depending on exam passage rates, work experience, and time dedicated to studies.

What are common challenges faced by new actuaries?

New actuaries often struggle with the volume and difficulty of exams, balancing work and study, developing soft skills, and transitioning theoretical knowledge into practical business solutions. Finding mentors and gaining hands-on experience helps overcome these challenges.