The SOA Releases New Diversity Report
Schaumburg, March 30, 2021 - The Society of Actuaries (SOA) believes that having a diverse workforce empowers the profession and our organization for long-term growth by improving performance and decision making. In June 2020, the SOA Board of Directors launched a new Diversity, Equity and Inclusion (DEI) strategic initiative. Integrated into the SOA’s Long-Term Growth Strategy – SOAe – Exponential Opportunities, this DEI initiative sets a roadmap for working toward a more diverse, equitable and inclusive actuarial field and as a crucial part of our growth as a profession and organization.
As part of our DEI initiative, we have increased our efforts to encourage members and candidates to update their profiles and provide the SOA with demographic data (race, ethnicity, sex and other categories). With the information we gathered, we built a detailed infographic designed to reflect the current state of diversity within the SOA that will be used to establish concrete goals, track changes and improve our efforts.
The infographics contained in the SOA Diversity Report establish accountability for our DEI initiatives and will help us maintain transparency in our diversity status.
The SOA Diversity Report provides an overview of the following:
- Overall membership as of December 2020 for the United States and worldwide;
- New members between 2010-2020 in the United States;
- New entrants to the examination pathway as of 2020 in the United States;
- Volunteer and leadership participation for 2020 worldwide; and
- Comparison Benchmark Data: United States populations age 25 and up, insurance industry employees, and STEM bachelor’s degrees.
This report will be updated twice a year and it is provided as percentages. These infographics aggregate the data from the SOA’s member and candidate database from data provided voluntarily by members and candidates around the world.
The SOA encourages our members and candidates to help develop and execute initiatives to create a diverse and inclusive profession by connecting and supporting organizations such as the International Association of Black Actuaries (IABA); the Organization of Latino Actuaries (OLA); the Sexuality and Gender Alliance of Actuaries (SAGAA); and The Actuarial Foundation in their efforts to empower and elevate the future of the actuarial field.
You can also stay informed by visiting our Diversity, Equity and Inclusion page and help us improve the accuracy of our data by updating the SOA Demographic information on your membership profile.