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Monday, January 22, 2018

Career Spotlight: Inside Actuarial Science | Knowledge Wharton Highschool

"How’s this for an unexpected new-year trend: actuarial science" inform Knowledge@Wharton High School.

Take, for instance, a January 2018 headline from News24, South Africa’s largest digital publisher. Takalani Bambela from Limpopo’s Tshivhase Secondary School near Johannesburg achieved the region’s top score in math and science on his matric exam. Matriculation or matric is a term commonly used in South Africa to refer to the final year of high school and the qualification received on graduating from high school. Bambela told News24 that he plans to study actuarial science at the University of Witwatersrand in Johannesburg, adding, “With actuarial science, I will be able to use the mathematical skills which I would have attained … to help local businesses assess and manage the risks that they will encounter along the journey of their businesses. This will result in local businesses growing … then there will be more inflow of money into our country resulting in our economy growing.”

A world away near Philadelphia, Pennsylvania in the U.S., Michelle McGrath, a senior at Plymouth Whitemarsh High School, is on a similar career track. McGrath, who was recently accepted to the University of Pennsylvania, also plans to study actuarial science. “I discovered my desire to be an actuary when I enrolled in AP Statistics my junior year of high school,” says McGrath, who this year is tackling AP Economics to further explore her interest in business. “I liked that there were a lot of real-world applications that we explored in statistics, which is not common for many math classes. I always knew that I wanted to major in something relating to math in college. Once my teacher mentioned being an actuary to the class, I explored the aspects of the job and thought it’d be the perfect major for me.”

From Johannesburg to Philadelphia and beyond, actuarial science is in demand these days. The U.S. Bureau of Labor Statistics says that employment of actuaries is projected to grow 22% from 2016 to 2026, much faster than the average for all occupations. And actuaries often rank high on lists of top STEM careers, top-paying jobs and even best jobs for women.
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Source: Knowledge Wharton Highschool