Actuarial and Statistics Sector

Jobs in this sector involve the analysis, interpretation and explanation of risk often through statistics. Actuaries are experts in:

Evaluating the likelihood of future events
Designing creative ways to reduce the likelihood of undesirable events
Decreasing the impact of undesirable events that do occur

Click here to read a career interview with an actuary.

Check out the professional bodies own entries in the Profession Finder.

There are a number of bodies covering these sectors. Here you will find information on:

Jobs and salaries
Routes and Qualifications
Funding

Jobs and Salaries

Actuarial Profession

Click here to find out what an actuary does.

Why become an actuary?

Read here for more detailed analyses of the practice areas.

You can become an actuary at any stage of your professional career. Find out how, if you are at school, university or considering a career change.

Read a personal account of what it is like to become an actuary, the work, the benefits and skills needed to become an actuary.

For actuarial jobs, check the Actuary.

Statistics

Read here for information on careers in statistics, whether you are still at school or looking to change profession.

The GSS (Government Statistical Service) employs researchers to analyse information on a wide range of areas and employs nearly 7,000 staff. Information on jobs can be found here.

Routes and Qualifications

Actuarial Profession

It is possible to become an actuary with A levels, but most entrants have a degree, often in subjects like maths, actuarial science, economics, statistics, or physics.

Training combines work with part-time study for the Institute of Actuaries or the Faculty of Actuaries examinations. It usually takes three to six years to qualify.

Information on what qualifications are necessary to become an actuarial student can be found here.

Whether you are a student, undergraduate, graduate or looking to change your career, details on how to become an actuary can be found here.

Statistics

Tips on what types of suitable studies needed to enter into a statistical profession can be found here.

Tips on how to find and apply for the perfect job can be found here.

Funding

Actuarial Profession

For International Students.

What’s it like working in this sector?

Most work in this sector is office based, however some travel may be necessary to meet with clients
Hours are often long, with employees expected to work hard to meet targets deadlines
Sometimes there are opportunities available to work at home.

How big is this sector?

The UK actuarial profession has a total of 20,277 members and is growing rapidly with record numbers sitting the exams year on year

Where can I work?

The majority of UK jobs are based in London and the South-East however there may be opportunities for applicants in regional offices around the UK
There are opportunities to work abroad. Some 45% of actuaries who are members of the Actuarial Profession are working overseas. Many of the organisations based in the UK are part of international groups (e.g. HSBC) and have interests and clients based outside the UK. Students who speak Asian languages, should look for opportunities in Hong Kong, Singapore and China.

What do employers look for?

Employers look for a range of skills, including the ability to work well in a team, self-motivation and good communication skills. It’s important to have an interest in financial and business affairs.
Good A-Levels in maths and further maths
A 2:1 in a numerical degree such maths, statistics, economics, accounting or finance
Most actuaries undertake an internship, placement or relevant work experience on the way to finding paid employment.