Actuary

Typical Salary

£30,000 To £70,000

Typical Hours

37 to 39 a week

between 8am and 6pm

How To Become a Actuary

You can get into this job through:

a university course
an apprenticeship
applying directly

College / University

You can get into this job by doing a degree and then joining an employer training scheme.

maths and statistics
actuarial science
economics
physics
engineering
accounting

2 or 3 A levels, or equivalent, including maths

Apprenticeship

You may be able to start by completing an actuarial technician higher apprenticeship or actuary degree apprenticeship.

4 or 5 GCSEs at grades 9 to 4 (A* to C) and A levels, or equivalent, for a higher or degree apprenticeship

Routes into this Career

Routes into this Career are not listed for this job.

You may be able to switch to actuarial work from a related profession, like risk management, financial services or business analysis. You would then follow an employer training programme to qualify.

Other Routes

Other Routes are not listed for this job.

Skills And Knowledge

You'll need:

maths knowledge
analytical thinking skills
to be thorough and pay attention to detail
knowledge of economics and accounting
the ability to think clearly using logic and reasoning
the ability to use your judgement and make decisions
ambition and a desire to succeed
thinking and reasoning skills
to be able to carry out basic tasks on a computer or hand-held device

Day To Day Tasks

Your day-to-day tasks may include:

analysing statistics
forecasting finances
testing financial options
assessing risks
using computers to build mathematical and statistical models
explaining findings to managers, government ministers or business clients

Working Environment

You could work in an office.

Career Path & Progression

With experience, you could become a department manager and then a partner with a financial firm.

You could also specialise in a particular field, like life insurance or healthcare, or move into consultancy work, accountancy or banking.

Volunteering Opportunities

You may improve your chances of finding a trainee position if you have some work experience in an actuarial department. You can find details about internships and work placements through the Institute and Faculty of Actuaries.

Tips & Information

Professional and industry bodies

You can join the Institute and Faculty of Actuaries to begin training and to take professional exams as you progress.

Further information

You'll find more details about careers in the actuarial profession, training and case studies from the Institute and Faculty of Actuaries.

Restrictions & Requirements

Restrictions & Requirements are not listed for this job.