What are you looking for

£32,000 Starter

Average salary (a year)

£70,000 Experienced

Average salary (a year)

37 to 42 a week

Typical hours (a week)

How to become

Explore the different ways to get into this job

You can get into this job through:

  • a university course
  • an apprenticeship
  • applying directly

University

You could start by doing a degree before joining a graduate actuarial training scheme.

Most employers will look for a degree with a high level of mathematics. For example:

  • maths and statistics
  • actuarial science
  • economics
  • engineering
  • accounting
  • physics or chemistry

A course with a placement year or a summer internship will give you valuable experience and an advantage when you apply for work.

You could take a postgraduate degree in actuarial science that might allow you to qualify as an actuary in a shorter time.

Some actuarial companies may offer sponsorship for postgraduate courses.

Entry requirements

You'll usually need:

  • 2 or 3 A levels, or equivalent, including maths
  • a degree in a relevant subject for postgraduate study

Apprenticeship

You may be able to do an Actuarial Technician Level 4 Higher Apprenticeship or an Actuary Level 7 Degree Apprenticeship.

These take between 2 and 3 years to complete.

Entry requirements

You'll usually need:

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

Volunteering

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.

Direct Application

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

What it takes

Find out what skills you will use in this role

Skills and knowledge

You'll need:

  • maths knowledge
  • analytical thinking skills
  • to be thorough and pay attention to detail
  • knowledge of economics and accounting
  • complex problem-solving skills
  • the ability to use your judgement and make decisions
  • ambition and a desire to succeed
  • excellent verbal communication skills
  • to be able to use a computer and the main software packages confidently

What you will do

Discover the day to day takes you'll do in this role

Day-to-day tasks

As an actuary, you could:

  • analyse data from past and present events to forecast future trends
  • assess financial risks, using mathematical models and statistics
  • work out solutions to business problems and help with planning
  • write reports and presentations
  • explain findings to managers, government ministers or business clients

We've identified this as a potential green job

For an actuary to be a green job, you could:

  • advise policymakers on sustainable, long-term investment planning
  • refine financial forecasting to include risks associated with climate change
  • develop risk models to help businesses adapt in the shift to low carbon economies

Find out more about green careers

Working environment

You could work in an office, at a client's business or remotely.

Career path and profession

Look at progression in this role and similar opportunities

As your career develops, you could specialise in a particular field, like:

  • insurance
  • healthcare
  • banking
  • data science

With experience, you could take on more responsibility for managing people or projects.

You might also work for the Government Actuary's Department, advising on public sector finances.

Explore a range of careers from all sectors in the careers directory.