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.
Employment prospects
Annual salary
$70,180
$100,276
$140,382
Job openings
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British Columbia
126expected 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.
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.