Actuaries, economists and statisticians

£61,880

Average Annual Pay

Annual Survey of Hours and Earning 2017

38

Average Weekly Hours

Annual Survey of Hours and Earning 2015

1.32%

Unemployment Rate

Labour Force Survey 2018

Future employment projections (Working Futures UK)

Description

Jobholders in this unit group apply theoretical principles and practical techniques to assess risk and formulate probabilistic outcomes in order to inform economic and business policy, and to analyse and interpret data used to assist in the formulation of financial, business and economic policies in order to maximise growth or improve business performance.

Qualifications

Entry is most common with a relevant degree or equivalent qualification. Professional qualifications are available and mandatory for actuarial occupations.

Typical tasks

  • assesses the objectives and requirements of the organisation seeking advice;
  • uses a variety of techniques and theoretical principles to establish probability and risk in respect of e.g. life insurance or pensions;
  • uses appropriate techniques and theoretical principles to determine an appropriate method of data collection and research methodology, analyse and interpret information gained and formulate recommendations on issues such as future trends, improved efficiency;
  • designs and manages surveys and uses statistical techniques in order to analyse and interpret the quantitative data collected;
  • provides economic or statistical advice to governments, commercial enterprises, organisations and other clients in light of research findings;
  • addresses seminars, conferences and the media to present results of research activity or to express professional views.

Common job titles

Planner, economic
Modeller, statistical
Adviser, economic
Officer, statistical (government)
Adviser, statistical
Forecaster, economic
Consultant, statistical
Officer, development, economic
Analyst, political
Analyst, economic
Mathematician
Strategist, quantitative
Analyst, campaign
Economist
Assistant, economic
Consultant, actuarial
Analyst, quantitative
Informatician
Assistant, statistical
Bioinformatician
Demographer
Consultant, economic
Analyst, statistical
Manager, analytics, web
Scientist, data
Controller, statistical
Head of statistics
Actuary
Controller, economics
Assistant, actuarial
Engineer, financial
Officer, support, bioinformatics
Statistician
Officer, statistical (coal mine)
Analyst, web

Education background

Destination of Leavers survey, supplied by the Higher Education Statistics.