What are the Best States For Actuaries? which is best suited for Actuaries? To be an actuary it is essential that the person should be very well acquainted with math. An actuary has to focus mainly on doing some hard math and for that, he must have mastery with figures to be successful in that field. Having decided to go in for actuary then he has to choose where he is going to start his career from. Since math is an important aspect of actuarial science a person should be in love with math to play and juggle with figures. He has to search which state is best suited for this purpose and who are paying substantially a high pay packet.
To arrive at some of the high paying actuaries three main and valuable points have been considered. It is not enough if they pay high, what is more important is how much you are able to save after deducting all the earnings. Therefore it is important to know how will be your real income. In other words, what will be your purchasing power. So, while looking into the pay packet it is also essential to look at the prices of essential goods on which you are likely to spend like rent, food, conveyance etc. The job of an actuary is not an easy one. He has to have a thorough knowledge of all the elements of math. The more the passion he is having in solving math-related problems the more successful he will be.
The other factors are the employment rates and the average pay. It is necessary for us to take into consideration these factors as well when looking for new places to work. The information about the cost of living has been obtained from Missouri Economic Research and Information Center. The data about the annual average wage of each state and the employment rate was taken from the US Bureau Labor of Statistics. The states have been ranked on the basis of the cost of living followed by on the basis of employment rates, and lastly, on the basis on annual average pay. The averaged ranking is shown on the list. Michigan, Iowa, and Illinois are some of the best states for actuaries. Take a look at the entire list of the best states for actuaries.