Career outlook for actuary
UK Salary Ranges
Currently employed in Scotland
What's it like?
You would gather and analyse data to judge the probability and risks of different future scenarios.
You'd advise managers in companies and public bodies so they can make responsible decisions about how to spend the organisation's money.
You'd work with a lot of data and statistics. You'd research, analyse and interpret the data to forecast long-term financial costs for companies and governments.
- Analyse past events, for example accident rates or medical data to analyse risks
- Forecast the future financial outcomes of various situations
- Use computers to build mathematical and statistical models
- Explain your findings to government ministers or business clients
- Keep up to date with the financial and business worlds
If you work in an insurance or pensions company you would design these financial products so that the companies can pay out money to customers when they need it but still make a profit for the company.
As a consultant you'd advise clients on major financial risks such as investing their money in the stock market or buying a business.
If you work for the Government Actuary's Department you'd advise other departments on the costs of policies like benefits, state pensions and healthcare.
You would work closely with other professionals such as insurance underwriters, investment managers and accountants.
UK employment status
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- Problem solving
- Working with numbers
- Attention to detail
- Making decisions
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