Actuaries
Code: 15-2011.00
Bright Outlook
Zone 4
Median Annual Salary
£130,000
Range: £78,570 - £215,100
Preparation & Education
Job Zone Four: High Preparation Needed
Job Zone 4
Industry Outlook
Bright
New job opportunities are very likely in the future.
Role Overview & What They Do
Analyze statistical data, such as mortality, accident, sickness, disability, and retirement rates and construct probability tables to forecast risk and liability for payment of future benefits. May ascertain insurance rates required and cash reserves necessary to ensure payment of future benefits.
Also Known As (Alternative Job Titles)
Actuarial Analyst
Actuarial Associate
Actuarial Consultant
Actuary
Consulting Actuary
Health Actuary
Life Actuary
Pricing Actuary
Product Development Actuary
Reserving Actuary
Daily Duties & On-The-Job Tasks
- Analyze data to determine premium rates required and cash reserves and liabilities necessary to ensure payment of future benefits.
- Analyze statistical information to estimate mortality, accident, sickness, disability, and retirement rates.
- Design, review, and help administer insurance, annuity and pension plans, determining financial soundness and calculating premiums.
Technology, Tools & Software Stack
Data base user interface and query software
Microsoft SQL Server
Oracle Database
Presentation software
Microsoft PowerPoint
Financial analysis software
Oak Mountain Software AnnuityValue
Pricing software
Core Skills, Knowledge & Abilities
Basic Skills
using math to solve problems
reading work related information
Problem Solving
noticing a problem and figuring out the best way to solve it
People and Technology Systems
thinking about the pros and cons of different options and picking the best one
measuring how well a system is working and how to improve it
Math and Science
arithmetic, algebra, geometry, calculus, or statistics
Business
accounting and economics
management
Engineering and Technology
computers and electronics
Arts and Humanities
English language
Math
choose the right type of math to solve a problem
add, subtract, multiply, or divide
Verbal
communicate by speaking
communicate by writing
Ideas and Logic
make general rules or come up with answers from lots of detailed information
group things in different ways
Personality & Work Styles
Top Interest: Conventional
People interested in this work like activities that include data, detail, and regular routines.
Key Work Styles:
Achievement Orientation
Intellectual Curiosity
Cautiousness
Integrity
Attention to Detail
Dependability
Frequently Asked Questions About Actuaries
In the UK, the median annual salary for a Actuaries is £130,000. Starting salaries (10th percentile) typically begin around £78,570, while highly experienced professionals (90th percentile) can earn upwards of £215,100 depending on location and experience.
Entry as a Actuaries typically aligns with Job Zone 4 (Job Zone Four: High Preparation Needed). Most of these careers need a four-year bachelor's degree, but some do not.
Essential skills and tooling for a Actuaries include: Microsoft SQL Server, Oracle Database, Microsoft PowerPoint, Oak Mountain Software AnnuityValue, Pricing software. Practitioners also benefit from strong analytical problem solving and communication skills.
New job opportunities are very likely in the future. (Industry demand rating: Bright).
Live UK Vacancies for Actuaries
Search AllConsulting Actuary – 29048
The Emerald Group
london
Permanent
SENIOR CONSULTING ACTUARY | 30172
Emerald Group
london
Permanent
P&C Consulting Actuary
Actuarial Futures
london
Permanent
Senior Consulting Actuary - DB Pensions
Howden Career Site 1
Remote
Permanent
Actuarial Associate
Kpmg-0828bc85
dublin
Permanent
Actuarial Analyst
Marsh
london
Permanent
Salary Distribution
10th Percentile (Entry):
£78,570
Median Annual (Average):
£130,000
90th Percentile (Senior):
£215,100
Occupational Terms
#data
#accident
#mortality
#client
#future benefit
#conventional interests
#retirement rate
#probability table
#cash reserve
#statistical data