Mathematicians, statisticians and actuaries (NOC 2161)

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

$68,927

Source: 2011 National Household Survey (Full-time full-year median employment income)

Provincial hourly rate

  • High
  • Median
  • Low

N/A - Data not available

Source: 2016 Job Bank Wage Report

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.

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.

Select a region to view regional outlook
Vancouver Island / Coast Mainland / Southwest Thompson-Okanagan Kootenay Cariboo Northeast North Coast & Nechako
Cariboo
Employment in 2016:
0
Average annual employment growth:
N/A
Expected number of job openings:
N/A
Kootenay
Employment in 2016:
0
Average annual employment growth:
N/A
Expected number of job openings:
N/A
Mainland / Southwest
Employment in 2016:
520
Average annual employment growth:
1.5%
Expected number of job openings:
190
North Coast & Nechako
Employment in 2016:
0
Average annual employment growth:
N/A
Expected number of job openings:
N/A
Northeast
Employment in 2016:
0
Average annual employment growth:
N/A
Expected number of job openings:
N/A
Thompson-Okanagan
Employment in 2016:
0
Average annual employment growth:
N/A
Expected number of job openings:
N/A
Vancouver Island / Coast
Employment in 2016:
70
Average annual employment growth:
N/A
Expected number of job openings:
N/A

N/A - Data not available

Source: B.C. Labour Market Outlook

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.