If you really love maths and want a rewarding career where you can really make a difference, the actuarial profession is for you!
Here we help you understand what an actuary is, what they do, where they work and why you should consider becoming an actuary.
What is an actuary?
Actuaries are problem solvers and strategic thinkers, who use their mathematical skills to help measure the probability and risk of future events. They use these skills to predict the financial impact of these events on a business and their clients.
Business and government increasingly depend on the skills of actuaries and analysts to help them model and plan for the future. As the world changes at an increasingly rapid pace, risk management expertise can help businesses navigate this evolving landscape. Discover your strengths and find out if you could become an actuary in our online personality quiz.
What is an Actuary? Watch our members explain!
What does an actuary do?
Actuaries possess a unique mix of mathematical, analytical, communication and management skills. They apply their abilities to create social impact, inform high-level strategic decisions and have a significant impact on legislation, businesses and peoples' lives.
Actuaries are creative, curious and adaptable and it’s this learning mindset that helps them succeed in the digital age. Actuaries’ unique combination of technical skills and professional acumen ensure they will continue to make a difference, guarding against the impacts of future uncertainty.
Find out more about where the actuarial profession can take you in our blog What actuaries actually do.
I enjoy my job, in fact, I love my job! I first heard about the actuarial profession from my A level Mathematics teacher. He described it as “… the perfect career for maths lovers!
Prudence Maseko
Where do actuaries work?
Although actuaries are often associated with traditional fields such as life, pensions and insurance, there are an increasing number of actuaries moving into a hold range of new areas. Health, banking and finance, technology and climate change are just some of the areas where you can now find actuaries.
The rise of artificial intelligence and data science are challenging actuaries to think differently and are creating new opportunities that previously never existed. Whether you work in in-house within an organisation or in a consultancy firm supporting different clients, you will enjoy a financially rewarding career where can grow, develop and be challenged.
Take a look at our Employer Directory to discover more about where actuaries work.
What does the future hold for actuaries?
Why should you become an actuary?
Being an actuary means having the opportunity to apply highly valued mathematical skills and expertise in a diverse, exciting and challenging career that really makes a difference. Your hard work is rewarded with a highly competitive salary and a good work/life balance in comparison to similarly paid professions in the financial services, such as investment banking.
Find out how the actuarial profession compares to other career paths
As a member of the Institute and Faculty of Actuaries (IFoA) you will be part of a globally recognised profession. Our qualifications are internationally-recognised and will enable you to work in many countries around the world. The IFoA also has Mutual Recognition Agreements with overseas actuarial professional bodies, so once you have qualified, it is often easy to transfer to another professional body.
Find out how you can become an actuary.
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Events calendar
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Presidential Speaker Series - The New Long Life
Webinar26 January 2021Drawing from his most recent book “The New Long Life” and his longevity research Andrew J Scott will outline how longer lives and new technologies will fundamentally reshape how we structure our lives and transform the economy. As well as looking at the agenda this will set governments and corporates he will focus on the implications for you and how you prepare your future career.
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Pensions: Actuarial Factors used to Calculate Benefits in UK Pension Schemes
Webinar28 January 2021The IFoA’s Actuarial Review Team has published its first thematic review, which looked at the actuarial advice given by scheme actuaries to UK pension scheme trustees on setting transfer values and commutation rates.
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India Town Hall
Webinar28 January 2021
IFoA Immediate Past President John Taylor would like to invite you to the Institute and Faculty of Actuaries’ (IFoA) virtual India Town Hall 2021, hosted by John Taylor with IFoA Council Member Mahidhara Davangere and IFoA Chief Executive, Stephen Mann. -
Winter Thought Leadership Lecture with Vicky Pryce
Webinar3 February 2021What are the options for the world economy looking ahead?
In this Thought Leadership Lecture, Economist, Vicky Pryce, will be discussing world economic trends, including the differences in geographical performance and how output is recovering and where.
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Professional Skills Training Webinar - 9 February 2021
Webinar9 February 2021
Trust and Leadership for ActuariesLed by Dr. Jim Baxter, University of Leeds, this webinar introduces some key ideas in the ethics of trust, with a particular focus on those in, or on the path to, leadership roles. Dr Baxter is joined by a panel of experienced leaders who will give their personal perspectives on how they understand the value of trust and how they seek to promote and inspire trust, drawing on their experiences of leadership. The panel includes:
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Health and Care Hot Topics webinar
Online webinar10 February 2021In this webinar, we have two presentations showing the latest research on the implications for life and health insurers of two key issues: genomics and pandemic risk.
Dr Peter Joshi and Paul Timmers will share their research on how well-established underwriting processes can allow for genomics in predicting expected mortality and morbidity. They will then discuss the potential for stratified screening and personalised medicine to improve health and reduce claim costs.
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As the world’s attention begins to turn to COP26 later this year in Glasgow, Sarah Gordon (Chief Executive, Impact Investing Institute) will share her vision for how the financial services industry can deliver for people and the planet, as well as how to encourage more investment with the intention to generate positive, measurable social and environmental impact alongside a financial return.
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Sub-Saharan Africa Town Hall
26 February 2021IFoA Immediate Past President John Taylor would like to invite you to the Institute and Faculty of Actuaries’ (IFoA) virtual SSA Town Hall 2021, hosted by John Taylor with IFoA Council Members Mukami Njeru, Prosper Matiashe and IFoA Chief Executive, Stephen Mann. -
MENAP Town Hall
2 March 2021IFoA Immediate Past President John Taylor would like to invite you to the Institute and Faculty of Actuaries’ (IFoA) virtual MENAP Town Hall 2021, hosted by John Taylor and IFoA Chief Executive, Stephen Mann.
IFoA Immediate Past President John Taylor would like to invite you to the Institute and Faculty of Actuaries’ (IFoA) virtual India Town Hall 2021, hosted by John Taylor with IFoA Council Member Mahidhara Davangere and IFoA Chief Executive, Stephen Mann.