Actuaries

Overview

Mathematicians and statisticians research mathematical or statistical theories, and develop and apply mathematical or statistical techniques for solving problems in such fields as science, engineering, business and social science. Actuaries apply mathematics, statistics, probability and risk theory to assess potential financial impacts of future events. Mathematicians, statisticians and actuaries are employed by universities, governments, bank and trust companies, insurance companies, pension benefit consulting firms, professional associations, and science and engineering consulting firms.

This group performs some or all of the following duties:

Actuaries

  • Apply mathematical models to forecast and calculate the probable future costs of insurance and pension benefits

  • Design life, health, and property insurance policies, and calculate premiums, contributions and benefits for insurance policies, and pension and superannuation plans

  • May assist investment fund managers in portfolio asset allocation decisions and risk management. They also use these techniques to provide legal evidence on the value of future earnings.

Job titles

  • actuarial analyst
  • actuarial assistant
  • actuary
  • analysis supervisor - statistics
  • applied mathematician
  • applied statistician

Employment prospects

Source: BC Labour Market Outlook 2025 edition
The labour market information for this career is aggregate data for Mathematicians, statisticians and actuaries

Annual salary

Low

$67,207

Median

$97,030

High

$147,251

Usual Hours Worked Weekly: 37.19

Job openings

Use this interactive map to explore job openings in different regions across B.C.

British Columbia

121

expected job openings (5-year forecast)

Education and training

Employment requirements

  • Actuaries usually require post-secondary education in actuarial science, mathematics, statistics, economics, commerce or business administration.

  • Actuaries are conferred fellowships through the Canadian Institute of Actuaries upon successful completion of professional examinations and three years of work experience in the actuarial field as an actuarial assistant or in a related position.

Additional information

  • With experience, actuaries may progress to managerial positions in consulting, insurance and finance. They may also be self-employed.

Certification requirements

Optional: The following certification are optional to practice as Actuaries in B.C.

  • Membership with the Canadian Institute of Actuaries

Membership with the Canadian Institute of Actuaries

Confirm with the certifying body that your intended program qualifies you for this certification.

To work as an actuary in B.C., you may choose to register with the Canadian Institute of Actuaries. Eligibility is achieved through a combination of education, courses, and exams.

Employment as a fully-licensed actuary may additionally require relevant work experience.

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Work Experience

Work experience required

Post-secondary programs in B.C.

Explore programs related to this career offered at post-secondary institutions in B.C.

Actuarial Science Bachelor's Degrees

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Actuarial Science Master's Degrees

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Business Administration Bachelor's Degrees

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Commerce Bachelor's Degrees

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