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Mathematicians, statisticians and actuaries (NOC 2161)

Table of contents
About this job Earnings and Outlook Duties Work environment Workforce and employment statistics
Job requirements Work-related skills Related careers Career paths and resources
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About this job

Mathematicians, statisticians and actuaries:

  • research mathematical or statistical theories, and develop and apply mathematical or statistical techniques for solving problems in fields such as science, engineering, business and social science
  • apply mathematics, statistics, probability and risk theory to assess potential financial impacts of future events
  • work for universities, governments, bank and trust companies, insurance companies, pension benefit consulting firms, professional associations and science and engineering consulting firms
Common job titles
  • actuary
  • actuary, casualty / insurance / life
  • analyst, actuarial / statistical
  • statistician, business and economics
  • statistician, chemistry
  • statistician, consulting pension
  • actuary
  • actuary, casualty / insurance / life
  • analyst, actuarial / statistical
  • biometrician / biostatisician
  • consultant, statistical
  • cryptanalyst / cryptographer

Earnings

Annual provincial median salary

$80,212

Source: 2020 Job Bank Wage data

Note:Estimated median employment income based on 2020 Job Bank median hourly wage rate (median annual salary = hourly wage rate x 40 (hours per week) x 52.14 (weeks per year))

Provincial hourly rate

  • High
  • Median
  • Low

Source: 2020 Job Bank Wage Report

B.C. Labour Market Outlook (2021-2031)

Provincial outlook

Forecasted average employment growth rate

  • 2021 - 2026
  • 2026 - 2031

Source: B.C. Labour Market Outlook

Job openings

10 year expected job openings: 310

  • 2022
  • 2026
  • 2031

Source: B.C. Labour Market Outlook

Composition of job openings

 
New jobs due to economic growth:
43.8%
140 openings
 
Replacement of retiring workers:
56.2%
180 openings

Source: B.C. Labour Market Outlook

Regional outlook

Select a region to view regional outlook
Vancouver Island / Coast Mainland / Southwest Thompson-Okanagan Kootenay Cariboo Northeast North Coast & Nechako
Cariboo
Employment in 2021:
N/A
Average annual employment growth(%) 2021-2031:
N/A
Expected number of job openings 2021-2031:
N/A
Kootenay
Employment in 2021:
N/A
Average annual employment growth(%) 2021-2031:
N/A
Expected number of job openings 2021-2031:
N/A
Mainland / Southwest
Employment in 2021:
720
Average annual employment growth(%) 2021-2031:
1.6%
Expected number of job openings 2021-2031:
260
North Coast & Nechako
Employment in 2021:
N/A
Average annual employment growth(%) 2021-2031:
N/A
Expected number of job openings 2021-2031:
N/A
Northeast
Employment in 2021:
N/A
Average annual employment growth(%) 2021-2031:
N/A
Expected number of job openings 2021-2031:
N/A
Thompson-Okanagan
Employment in 2021:
40
Average annual employment growth(%) 2021-2031:
0.6%
Expected number of job openings 2021-2031:
10
Vancouver Island / Coast
Employment in 2021:
170
Average annual employment growth(%) 2021-2031:
0.9%
Expected number of job openings 2021-2031:
60

N/A - Data not available

Source: B.C. Labour Market Outlook

Duties

Mathematicians

  • carry out research to gain mathematical knowledge in traditional areas such as algebra, geometry, probability and logic
  • apply mathematical techniques to problem solving in areas like physical science, engineering, computer science, operations research, business or management

Statisticians:

  • carry out research into the mathematical basis of the science of statistics
  • develop statistical methods and advise on the practical application of statistical methods
  • apply statistical techniques to provide information in fields such as biological and agricultural science; business and economics; physical sciences and engineering; and the social sciences

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, pensions and superannuation plans
  • assist investment fund managers in portfolio asset distribution decisions and risk management
  • use these techniques to provide legal evidence on the value of future earnings

Work environment

Work in this occupation is typically performed in a structured environment, such as an office or school.

Workforce and employment statistics

Workforce characteristics

800 workers are employed
62% of workers are working mostly full time

Source: 2016 Census

Employment by gender

  Men
  Women

Source: 2016 Census

Employment by age group

  15 - 24 years
  25 - 44 years
  45 - 64 years
  65+ years

Source: 2016 Census

Labour force by industry

Professional, Scientific, and Technical Services:
38%
Public Administration:
18%
Finance, Insurance and Real Estate:
16%
Educational Services:
11%
Health Care and Social Assistance:
11%
View more industry data

Source: 2016 Census

Employment by region

Select your region:
Vancouver Island / Coast Mainland / Southwest Thompson-Okanagan Kootenay Cariboo Northeast North Coast & Nechako
  % employment of this occupation
  % employment of all occupations
Cariboo
Kootenay
Mainland / Southwest
North Coast & Nechako
Northeast
Thompson-Okanagan
Vancouver Island / Coast

N/A - Data not available

Source: 2016 Census

Career paths and resources

Career paths

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

Additional resources

Additional resources are not currently available for this career.

Profile last updated:
March 25, 2021
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