Mathematicians, statisticians and actuaries
Career Overview
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
Job Titles
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
Earnings
Earnings is income that workers receive in exchange for their labour. Depending on the type of employment, earnings can be in the form of wages (hourly), salaries (fixed monthly or annual) or self-employed earnings.
Work Environment
# Workers Employed
785% Employed Full Time
72%Work in this occupation is typically performed in a structured environment, such as an office or school.
Career Pathways
With experience, actuaries may progress to managerial positions in consulting, insurance and finance. They may also be self-employed.
Related Careers
Occupational Interests
It’s important to understand what kinds of occupations align with your interests.
For more about occupational interests visit Skills for the Future Workforce > Characteristics.
Here are the top occupational interest(s) for this career profile:
Education, Training and Skills
- 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
Education programs in B.C.
The following program areas are related to this occupation:
- Math/Statistics Related (Arts)
- Math/Statistics (Science)
Skills
Every job calls for a certain set of skills. Knowing those skills is the first step in finding a good career fit.
Here, you will find the 10 most relevant workplace skills. Some are more important to achieving success in a certain career than others. These skills may come naturally to you or you may need to gain them through education, training and experience.
See the list of work-related skills below, ranked in order of importance for this career. Check out the list and see if this career matches your skills—take that first step!
Using mathematics to solve problems.
Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
Understanding written sentences and paragraphs in work-related documents.
Being able to solve novel, ill-defined problems in complex, real-world settings.
Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
Considering the relative costs and benefits of potential actions to choose the most appropriate one.
Understanding how new information could be used to solve current and future problems in making decisions.
Talking to others to share information effectively.
Communicating effectively in writing as appropriate for the needs of the audience.
Determining how a system should work and how changes in conditions, operations and the environment will affect outcomes.
Labour Market Statistics
Discover data, facts and information that have been gathered and analyzed. Learn about the characteristics of the economy and labour market in B.C.
Employment
Find out about employment types and trends by region and industry.
Employment
785Employment by Region
| Region | Employment | % Employment of this Occupation |
|---|---|---|
| Cariboo | 15 | 1.9% |
| Kootenay | 0 | 0.0% |
| Mainland/Southwest | 655 | 83.4% |
| North Coast and Nechako | 0 | 0.0% |
| Northeast | 0 | 0.0% |
| Thompson-Okanagan | 35 | 4.5% |
| Vancouver Island/Coast | 75 | 9.6% |
Labour Market Outlook
The B.C. Labour Market Outlook is a 10-year forecast of the expected supply and demand for labour in the province. It’s usually updated every year. The purpose is to provide British Columbians with the knowledge to make informed decisions on careers, skills training, education and hiring.
Forecasted Job Openings (2024-2034)
270Forecasted Job Openings
Forecasted Employment Growth Rate
Composition of Job Openings
Job Openings by Region (2024-2034)
| Region | Job Openings | Avg. Annual Employment Growth |
|---|---|---|
| Cariboo | Not available | Not available |
| Kootenay | Not available | Not available |
| Mainland/Southwest | 230 | 1.6% |
| North Coast and Nechako | Not available | Not available |
| Northeast | Not available | Not available |
| Thompson-Okanagan | 20 | 1.7% |
| Vancouver Island/Coast | 20 | 1.3% |
Industry Highlights
Learn about the opportunities in B.C.'s major industries, including employment trends, earning potential, locations of work and more.
Forecasted Job Openings by Industry
| Industry | Job Openings (2024-2034) |
|---|---|
| Professional, Scientific and Technical Services | 90 |
| Finance, Insurance and Real Estate | 60 |
| Health Care and Social Assistance | 40 |
| Educational Services | 30 |
| Public Administration | 30 |
Resources
Resource information is currently not available.