An actuary is a professional who specializes in predicting the chances of various future events occurring. These individuals may also specialize in lessening the impact of future events that are considered to be undesirable. Actuaries tend to work in a number of different industries, such as insurance and in the financial sector. Actuary colleges are those which prepare aspiring professionals with the skills and knowledge they need to excel in the career. In order to compare actuary colleges, it can be helpful to consider factors such as degrees that are offered, prestige, and location and cost.
First, it is uncommon to find colleges or programs that are specifically designed for actuarial training. While these programs and colleges do exist, many who enter the profession have backgrounds in subjects such as mathematics and business. Others may have degrees or academic training in economics and the liberal arts.
A good first step in comparing actuary colleges is to consider the programs or degrees that are offered by the different colleges. Many who aspire to enter this career choose colleges that have strong mathematics departments. The reason for this is that the actuary profession often requires an understanding of probability theory, which is a mathematical concept concerning the occurrence of random events. Therefore, a college that has a strong mathematics department may also be the one that provides students with the best understanding of probability theory and other important mathematical concepts.
Other students may compare actuary colleges based on the strengths of their business departments. Most business studies will also include a focus on mathematics. Some actuaries work in the financial sector, advising clients and employers on matters regarding financial risk, so training in business or finance may be an important asset to those hoping to enter into an actuarial career.
You may also consider prestige when comparing actuary colleges. Some colleges have better reputations in the eyes of many experts and professionals. This could be because admissions are more selective or because the training is considered to be more relevant to the profession. For this reason, many students believe that a degree or certification from a college that is more prestigious will allow them to get better jobs that offer higher salaries.
Actuary colleges and colleges that offer training utilized by aspiring actuaries are located all over the world. It might be a good idea to compare colleges based on where they are located so that you can study in an environment in which you feel comfortable. Likewise, these colleges may vary depending on the cost of tuition. Many students choose colleges that they can afford to attend while gaining the smallest amount of debt.