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Actuaries, Economists and Statisticians

Actuaries, economists and statisticians apply theoretical principles and practical techniques to assess risk and formulate probabilistic outcomes in order to inform economic and business policy, and to analyse and interpret data used to assist in the formulation of financial, business and economic policies in order to maximise growth or improve business performance.

Wages

New workers
AVERAGE
Experienced
£30,170
£54,613
£96,007

New workers start around £30,170. Normal pay is £54,613 per year.
Highly experienced workers can earn up to £96,007.

Available jobs

In the past year there were 67,535 vacancies for this type of job

5.28%

Projected job growth over the next 8 years

Related courses

People work towards these careers by taking these courses at college and uni.

What they do most days?

  • Addresses seminars, conferences and the media to present results of research activity or to express professional views.

  • Provides economic or statistical advice to governments, commercial enterprises, organisations and other clients in light of research findings.

  • Designs and manages surveys and uses statistical techniques in order to analyse and interpret the quantitative data collected.

  • Uses appropriate techniques and theoretical principles to determine an appropriate method of data collection and research methodology, analyse and interpret information gained and formulate recommendations on issues such as future trends, improved efficiency.

  • Uses a variety of techniques and theoretical principles to establish probability and risk in respect of e.g. life insurance or pensions.

  • Assesses the objectives and requirements of the organisation seeking advice.

Hard Skills

Hard skills are specific, learnable, measurable, often industry or occupation-specific abilities related to a position.

Skills are ranked based on the number of job adverts that list them as required skills.

  • Statistics

  • Economics

  • Python (Programming Language)

  • R (Programming Language)

  • Data Analysis

  • Actuarial Science

  • Finance

  • Underwriting

  • Reinsurance

  • Project Management

Soft Skills

Soft skills can be self-taught and usually do not necessitate a certain completed level of education.

Skills are ranked based on the number of job adverts that list them as required skills.

  • Communication

  • Research

  • Management

  • Mathematics

  • Innovation

  • Leadership

  • Problem Solving

  • Presentations

  • Detail Oriented

  • Writing

How do I get a job like this?

People in these types of job started their career paths after studying courses like the ones below.

Routes to this career

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