If you’re an actuary (or studying to become one), you’ve probably wondered, “What’s next after actuarial work? Can I branch out without starting from scratch?” The short answer? Absolutely. Actuaries have a treasure trove of skills that translate into a variety of high-impact roles.
In this article, I’ll break down actuary exit opportunities so you can see how your skills open doors to exciting paths—whether you’re itching for a change or planning for the future. And hey, if you’re still in love with actuarial work, Acturhire’s got you covered for the best actuarial roles out there.
Let’s face it—no one wants to feel stuck. Even if you enjoy crunching numbers and analyzing risk, you might hit a point where you crave new challenges or flexibility. Here are a few reasons actuaries start exploring other options:
The good news? Your skills—problem-solving, data analysis, financial modeling—are in insane demand across industries.
Here’s a look at some of the most common paths actuaries take when pivoting their careers:
Actuaries are practically built for this field. You’re already comfortable with predictive modeling, programming languages (like Python or R), and extracting insights from data. The difference? You’ll focus on solving broader business challenges, from customer behavior to market trends.
Why it works: Companies across tech, healthcare, and retail are hiring data scientists like crazy—and they’ll pay big bucks for your analytical skills.
Stepping into broader risk management roles is a natural progression. Here, you can work on enterprise-wide risk strategies or dive into credit, market, or operational risk in industries like banking or insurance.
Pro Tip: Risk management roles often involve collaboration with senior leaders, making it a stepping stone to executive-level positions.
Big firms like McKinsey or Deloitte love hiring actuaries for their sharp problem-solving skills and ability to break down complex financial systems. As a consultant, you’ll tackle challenges across industries and work directly with executives to solve high-stakes problems.
Tip: Be ready for travel and high-intensity schedules, but the growth and earning potential are unmatched.
If you’re into tech and innovation, becoming a product manager is a killer move. Actuaries bring a unique edge to insurtech and fintech companies, blending technical expertise with an understanding of market needs.
Why it’s awesome: You’ll help build cutting-edge products while shaping the future of financial services.
Some actuaries launch their own firms, startups, or consulting practices. With your expertise in risk, finance, and strategy, you’ve got the foundation to lead a successful business.
Example: Many actuaries create insurtech companies, develop financial tools, or build consulting firms specializing in niche areas.
If you’re thinking about taking the leap, here are steps to make it happen without losing momentum:
1. Are actuaries in demand outside insurance?
Yes! Actuarial skills are highly transferable to fields like tech, banking, and consulting.
2. Do I need to stop taking exams if I exit the field?
It depends on your new role. Some fields may still value your credentials, while others won’t require them.
3. What’s the best-paying alternative to actuarial work?
Data science, consulting, and senior risk management roles often come with impressive salaries.
4. Is pivoting risky?
No pivot is without risk, but with careful planning (and leveraging your actuarial background), you can transition smoothly.
Your actuarial skills don’t box you in—they set you up for endless opportunities. Whether you’re craving a different industry, chasing a bigger paycheck, or just exploring your options, there’s no shortage of paths you can take.
And if you’re still in the game? Acturhire is the place to find your next dream actuarial role.
