Mathematicians, statisticians and actuaries

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

biometrician / biostatisician
consultant, statistical
cryptanalyst / cryptographer
demographer
environmental epidemiologist
expert, cipher
mathematician, applied / research
researcher, operations
statistical methodologist
statistician, applied / industrial
statistician, biological & agricultural

statistician, business and economics
statistician, chemistry
statistician, consulting pension

statistician, education
statistician, financial
statistician, mathematical
statistician, medical / public health
statistician, opinion polling / survey
statistician, physical science, engineer'g
statistician, sales
statistician, social science
statistician, vital
supervisor, statistical analysis

actuary
actuary, casualty / insurance / life
analyst, actuarial / statistical
biometrician / biostatisician
consultant, statistical
cryptanalyst / cryptographer

demographer
environmental epidemiologist
expert, cipher
mathematician, applied / research
researcher, operations
statistical methodologist
statistician, applied / industrial
statistician, biological & agricultural
statistician, business and economics
statistician, chemistry
statistician, consulting pension
statistician, education
statistician, financial
statistician, mathematical
statistician, medical / public health
statistician, opinion polling / survey
statistician, physical science, engineer'g
statistician, sales
statistician, social science
statistician, vital
supervisor, statistical analysis

Earnings

Annual provincial median salary

$79,923

Source: 2017 Job Bank Wage data

Note:Estimated median employment income based on 2017 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: 2017 Job Bank Wage Report

B.C. Labour Market Outlook (2018-2028)

Provincial outlook

Forecasted average employment growth rate

2018 - 2023
2023 - 2028

Source: B.C. Labour Market Outlook

Job openings

10 year expected job openings: 270

2018
2023
2028

Source: B.C. Labour Market Outlook

Composition of job openings

New jobs due to economic growth:
48.1%
130 openings

Replacement of retiring workers:
51.9%
140 openings

Source: B.C. Labour Market Outlook

Regional outlook

Cariboo

Employment in 2018:

N/A

Average annual employment growth:

N/A

Expected number of job openings:

N/A

Kootenay

Employment in 2018:

N/A

Average annual employment growth:

N/A

Expected number of job openings:

N/A

Mainland / Southwest

Employment in 2018:

650

Average annual employment growth:

1.6%

Expected number of job openings:

200

North Coast & Nechako

Employment in 2018:

N/A

Average annual employment growth:

N/A

Expected number of job openings:

N/A

Northeast

Employment in 2018:

N/A

Average annual employment growth:

N/A

Expected number of job openings:

N/A

Thompson-Okanagan

Employment in 2018:

30

Average annual employment growth:

1.2%

Expected number of job openings:

10

Vancouver Island / Coast

Employment in 2018:

150

Average annual employment growth:

0.9%

Expected number of job openings:

50

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

% 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

Job requirements

Education, training & qualifications

Mathematicians and statisticians usually require a graduate degree in mathematics or statistics.
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.

Skills

Spatial Perception
Verbal & Written Comprehension
Numerical Ability
Detail-Oriented
Finger Dexterity

View skills definitions

Education programs in B.C.

The following program areas are related to this occupation:

Math/Statistics (Science)

Math/Statistics Related (Arts)

For more information about programs offered specifically for this career, visit EducationPlannerBC.

Related careers

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.

Mathematicians, statisticians and actuaries (NOC 2161)

About this job

Earnings

Annual provincial median salary

Provincial hourly rate

B.C. Labour Market Outlook (2018-2028)

Provincial outlook

Forecasted average employment growth rate

Job openings

Composition of job openings

Regional outlook

Duties

Work environment

Workforce and employment statistics

Workforce characteristics

Employment by gender

Employment by age group

Labour force by industry

Employment by region

Job requirements

Education, training & qualifications

Skills

Education programs in B.C.

Related careers

Career paths and resources

Data Scientist - Power and Energy