Mathematicians, Statisticians, and Actuaries

(NOC 2161)

in All Engineering, Math, Science, and Information Technology

Mathematicians and statisticians research mathematical or statistical theories. They develop and apply mathematical or statistical techniques for solving problems in fields like science, engineering, business, and social science. Actuaries apply mathematics, statistics, probability, and risk theory to assess potential financial impacts of future events. Mathematicians, statisticians, and actuaries work for universities, governments, bank and trust companies, insurance companies, pension benefit consulting firms, professional associations, and science and engineering consulting firms.

Job Outlook

Undetermined

Read more

  • Estimate change in employment not available for this occupation.
  • Estimate openings due to growth and retirements not available for this occupation.
  • Estimate rate of unemployment not available for this occupation.

Compared to: All Engineering, Math, Science, and Information Technology

  • Estimate 705 employment change, 2019-2021
  • Estimate 2585 openings due to growth and retirements, 2018-2020
  • Estimate rate of unemployment not available for these occupation.

This is not a large occupation in Nova Scotia so job opportunities may not be that frequent. With a moderate percent of workers being 55 years of age and older, retirements are expected to contribute somewhat to employment opportunities over the coming years. Mathematicians, Statisticians, and Actuaries most commonly work full-time hours.

The median employment income for 76% of Mathematicians, Statisticians, and Actuaries who worked full-time, year-round in 2015 was $74,145. Across all occupations in Nova Scotia, 59% of those who worked full-time year round had a median employment income of $43,600.
(Source: 2016 Census)

Hourly Pay

$26.67

Minimum

$41.63

Median

$67.86

Maximum

Annual Pay

$28,274

Minimum

$62,892

Median

$137,058

Maximum

Compared to: All Engineering, Math, Science, and Information Technology

Hourly Pay

$18.00

Minimum

$37.80

Median

$48.46

Maximum

Annual Pay

$13,568

Minimum

$60,422

Median

$107,009

Maximum

About the job

Nature of work

Mathematicians and statisticians research mathematical or statistical theories. They develop and apply mathematical or statistical techniques for solving problems in fields like science, engineering, business, and social science. Actuaries apply mathematics, statistics, probability, and risk theory to assess potential financial impacts of future events. Mathematicians, statisticians, and actuaries work for universities, governments, bank and trust companies, insurance companies, pension benefit consulting firms, professional associations, and science and engineering consulting firms.

Job duties

Mathematicians:

  • Research to add to knowledge of areas of mathematics like algebra, geometry, probability, and logic.
  • Apply mathematical techniques to solve problems in fields like physical science, engineering, computer science, operations research, business, or management.

Statisticians:

  • Research the mathematical basis of the science of statistics.
  • Develop statistical methodology.
  • Advise on the practical application of statistical methodology.
  • Apply statistical theory and methods in fields like 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.
  • Calculate premiums, contributions and benefits for insurance policies, and pension and superannuation plans.
  • May help investment fund managers in portfolio asset allocation decisions and risk management. They also use these techniques to provide legal evidence on the value of future earnings.

Sample job titles

  • actuary
  • biometrician
  • business and economics statistician
  • demographer
  • financial statistician
  • mathematician
  • opinion polling statistician
  • statistical analyst
  • statistician
  • survey statistician

Skills

This work demands strong mathematical and analytical skills. You should be concise, accurate, detail-oriented, and able to develop creative solutions to new problems. Good oral and written communication skills are important. You must be capable of working on your own and meeting deadlines. Computer skills are essential.

Job requirements

  • 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.

Other considerations

Three years of work experience in the actuarial field as an actuarial assistant or in a related position. They may also be self-employed. With experience, actuaries may progress to managerial positions in consulting, insurance and finance.

By the numbers

Quick look

195

employed in 2016

100.0%

employed full-time

0.0%

self employed

47.4%
Icons/female Created with Sketch.
52.6%
Icons/male Created with Sketch.
35.3

median age

Compared to: All Engineering, Math, Science, and Information Technology

25,875

employed in 2016

91.5%

employed full-time

7.6%

self employed

20.0%
Icons/female Created with Sketch.
80%
Icons/male Created with Sketch.
42.8

median age

Where will I likely work?

90.0%

Halifax

5.0%

North Shore

5.0%

Cape Breton

Compared to: All NS Occupations

47.0%

Halifax

15.6%

North Shore

12.9%

Annapolis Valley

12.7%

Cape Breton

11.8%

Southern

Top Industries of Employment

31.4%

Finance and insurance

28.6%

Professional, scientific and technical services

20.0%

Public administration

8.6%

Educational services

5.7%

Health care and social assistance

What is the age of Employment?

35.0%

25-34

20.0%

45-54

18.0%

35-44

13.0%

15-24

10.0%

55-64

5.0%

65+

Compared to: All Engineering, Math, Science, and Information Technology

24.2%

25-34

23.5%

45-54

23.4%

35-44

16.4%

55-64

7.7%

15-24

Top levels of education

60.5%

Bachelor

$50,430 median annual income
26.3%

Master

$82,515 median annual income
7.9%

Doctorate

N/A
5.3%

College Diploma

N/A

Compared to: All Engineering, Math, Science, and Information Technology

33.1%

College Diploma

$59,986 median annual income
29.8%

Bachelor

$63,965 median annual income
11.9%

High school

$45,835 median annual income
9.9%

Master

$65,105 median annual income
6.9%

Trade Certification

$57,773 median annual income

Education & training

Actuarial Science

College or University Program

These programs focus on the mathematical and statistical analysis of risk, and their application to insurance and other business management problems. They include courses in forecasting theory, quantitative and non-quantitative risk measurement methodologies, development of risk tables, secondary data analysis, and computer-assisted research methods.

Institutions providing this program

Dalhousie University

Halifax, NS

University of King's College

Halifax, NS

Business Administration and Management

College, Trades, or University Program

These programs prepare students to plan, organize, direct, and control the functions and processes of a firm or organization. They include courses in management theory, human resources management and behaviour, accounting and other quantitative methods, purchasing and logistics, organization and production, marketing, and business decision-making.

Institutions providing this program

Maritime Business College

Lower Sackville, NS

Academy of Learning Career College - Halifax

Halifax, NS

Acadia University

Wolfville, NS

Dalhousie University

Halifax, NS

Mount Saint Vincent University

Halifax, NS

Universite Sainte-Anne

Pointe-de-l'Église, NS

St. Francis Xavier University

Antigonish, NS

Saint Mary's University

Halifax, NS

Cape Breton University

Sydney, NS

Dalhousie University Faculty of Agriculture

Truro, NS

Nova Scotia Community College - Annapolis Valley Campus

Middleton, NS

Nova Scotia Community College - Cumberland Campus

Springhill, NS

Nova Scotia Community College - Burridge Campus

Yarmouth, NS

Nova Scotia Community College - Kingstec Campus

Kentville, NS

Nova Scotia Community College - Lunenburg Campus

Bridgewater, NS

Nova Scotia Community College - Pictou Campus & School of Fisheries

Stellarton, NS

Nova Scotia Community College - Strait Area Campus & Nautical Institute

Port Hawkesbury, NS

Nova Scotia Community College - Marconi Campus

Sydney, NS

Nova Scotia Community College - Truro Campus

Truro, NS

Nova Scotia Community College - Ivany Campus

Dartmouth, NS

Nova Scotia Community College - Online Learning

Various, NS

Business/Commerce

College, Trades, or University Program

These programs focus on the general study of business, including the processes of interchanging goods and services (buying, selling and producing), business organization, and accounting as used in profit-making and non-profit public and private institutions and agencies. They prepare students to apply business principles and techniques in various occupational settings.

Institutions providing this program

Dalhousie University

Halifax, NS

University of King's College

Halifax, NS

Universite Sainte-Anne

Pointe-de-l'Église, NS

Saint Mary's University

Halifax, NS

Computational and Applied Mathematics

College or University Program

These programs focus on applying mathematics to the theory, architecture, and design of computers, computational techniques, and algorithms. They include courses in computer theory, cybernetics, numerical analysis, algorithm development, binary structures, combinatorics, advanced statistics, and related topics.

Institutions providing this program

Dalhousie University

Halifax, NS

Economics

College or University Program

These programs focus on the systematic study of the production, conservation and allocation of resources in conditions of scarcity, together with the organizational frameworks related to these processes. They include courses in economic theory, microeconomics and macroeconomics, comparative economic systems, money and banking systems, international economics, quantitative analytical methods, and applications to specific industries and public policy issues.

Institutions providing this program

Acadia University

Wolfville, NS

Dalhousie University

Halifax, NS

University of King's College

Halifax, NS

Mount Saint Vincent University

Halifax, NS

St. Francis Xavier University

Antigonish, NS

Saint Mary's University

Halifax, NS

Cape Breton University

Sydney, NS

Epidemiology

College or University Program

These programs focus on the scientific study of disease, disability, and trauma patterns within and across populations and the development of health management mechanisms to prevent and control disease outbreaks and injurious behaviours. They include courses in biostatistics, biochemistry, molecular biology, immunology, disease and injury determinants, genetic disease and disability factors, behavioural studies, health services research, environmental disease and injury factors, and population studies.

Institutions providing this program

Dalhousie University

Halifax, NS

Mathematical Statistics and Probability

University Program

These programs focus on the mathematical theory underlying statistical methods and their use. They include courses in probability theory, parametric and nonparametric inference, sequential analysis, multivariate analysis, Bayesian analysis, experimental design, time series analysis, resampling, robust statistics, limit theory, infinite particle systems, stochastic processes, martingales, Markov processes, and Banach spaces.

Institutions providing this program

Acadia University

Wolfville, NS

Mathematics

College or University Program

These programs focus on the analysis of quantities, magnitudes, forms, and their relationships, using symbolic logic and language. They include courses in algebra, calculus, functional analysis, geometry, number theory, logic, topology and other mathematical specializations.

Institutions providing this program

Dalhousie University

Halifax, NS

University of King's College

Halifax, NS

Mount Saint Vincent University

Halifax, NS

St. Francis Xavier University

Antigonish, NS

Saint Mary's University

Halifax, NS

Cape Breton University

Sydney, NS

Physical Sciences

College or University Program

These programs focus on the major topics, concepts, processes, and interrelationships of physical phenomena as studied in any combination of physical science disciplines.

Institutions providing this program

Dalhousie University

Halifax, NS

Saint Mary's University

Halifax, NS

Statistics

College or University Program

These programs focus on the relationships between groups of measurements, and similarities and differences, using probability theory and techniques derived from it. They include courses in the principles in probability theory, binomial distribution, regression analysis, standard deviation, stochastic processes, Monte Carlo method, Bayesian statistics, non-parametric statistics, sampling theory, and statistical techniques.

Institutions providing this program

Dalhousie University

Halifax, NS

University of King's College

Halifax, NS

Mount Saint Vincent University

Halifax, NS

Employment requirements & contacts

No regulating bodies were found under this occupation profile

Contacts

Canadian Institute of Actuaries
Ottawa, ON
Canadian Mathematical Society
Ottawa, ON

Additional resources

There are no additional resources for this occupation.