Mathematicians, Statisticians, and Actuaries

(NOC 2161)

in All Engineering, Math, Science, and Information Technology

Mathematicians and statisticians research mathematical or statistical theories, and develop and apply mathematical or statistical techniques for solving problems in such fields as 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 are employed by 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 Strong growth employment change, 2017-2019
  • Estimate 3095 openings due to growth and retirements, 2017-2019
  • Estimate Low rate of unemployment in 2016

This is not a large occupation in Nova Scotia so job opportunities may not be that frequent. With a large percent of workers being 55 years of age and older, retirements are expected to be a key contributor to employment opportunities over the coming years. Mathematicians, Statisticians, and Actuaries most commonly work full-time hours. Furthermore, the jobs are typically permanent positions. Also, a fair portion of the workforce is self-employed, so having the option to "work for yourself" may appeal to some individuals’ interests/motivations.

The median employment income for 72% 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

N/A

Minimum

N/A

Median

N/A

Maximum

Annual Pay

$28,274

Minimum

$62,892

Median

$137,058

Maximum

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

Hourly Pay

$17.69

Minimum

$31.35

Median

$47.18

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, and develop and apply mathematical or statistical techniques for solving problems in such fields as 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 are employed by universities, governments, bank and trust companies, insurance companies, pension benefit consulting firms, professional associations, and science and engineering consulting firms.

Job duties

Mathematicians, statisticians and actuaries perform some or all of the following duties:

  • Mathematicians conduct research to extend mathematical knowledge in traditional areas of mathematics such as algebra, geometry, probability and logic and apply mathematical techniques to the solution of problems in scientific fields such as physical science, engineering, computer science or other fields such as operations research, business or management.
  • Statisticians conduct research into the mathematical basis of the science of statistics, develop statistical methodology and advise on the practical application of statistical methodology. They also apply statistical theory and methods to provide information in scientific and other 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. They design life, health, and property insurance policies, and calculate premiums, contributions and benefits for insurance policies, and pension and superannuation plans. They may assist 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

185

employed in 2016

94.9%

employed full-time

0.0%

self employed

48.7%
Icons/female Created with Sketch.
51.3%
Icons/male Created with Sketch.
35.3

median age

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

25,875

employed in 2016

93.6%

employed full-time

6.9%

self employed

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

median age

Where will I likely work?

92.3%

Halifax

5.1%

Northern

5.1%

Cape Breton

Compared to: All NS Occupations

47.0%

Halifax

15.6%

Northern

12.9%

Annapolis Valley

12.7%

Cape Breton

11.8%

Southern

Top Industries of Employment

29.7%

Finance, Insurance, Real Estate & Leasing

24.3%

Other Professional Services

18.9%

Public Administration

8.1%

Educational Services

5.4%

Health Care and Social Assistance

What is the age of Employment?

57.9%

35-44

21.1%

25-34

10.5%

45-54

10.5%

15-24

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

32.5%

35-44

32.0%

45-54

18.0%

55-64

13.5%

25-34

3.5%

65+

Top levels of education

56.4%

Bachelor's degree

$50,430 median annual income
25.6%

Doctorate

N/A
7.7%

Medicine, dentistry, veterinary, optometry

N/A
5.1%

College certificate or diploma

N/A

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

33.7%

College certificate or diploma

$52,476 median annual income
29.7%

Bachelor's degree

$58,011 median annual income
12.1%

High school

$35,125 median annual income
9.7%

Master's degree

$37,706 median annual income
6.8%

Trades certificate

$54,923 median annual income

Education & training

Actuarial science

This program is typically offered at the college or university level.

This instructional program class comprises any program that focuses on the mathematical and statistical analysis of risk, and their application to insurance and other business management problems. These programs 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

Office of the Registrar

Halifax, NS B3H 4R2

(902) 494-2450

University of King's College

6350 Coburg Road

Halifax, NS B3H 2A1

(902) 422-1271

Applied economics

This program is typically offered at the college or university level.

This instructional program class comprises any program that focuses on the application of economic principles and analytical techniques to the study of particular industries, activities, or the exploitation of particular resources. These programs include courses in economic theory; microeconomic analysis and modelling of specific industries and commodities; the economic consequences of resource allocation decisions; regulatory and consumer factors; and the technical aspects of specific subjects as they relate to economic analysis.

Institutions providing this program

Saint Mary's University

923 Robie Street

Halifax, NS B3H 3C3

(902) 420-5400

Business administration and management - General

This program may be offered at the college, trades, or university level.

This instructional program class comprises any program that generally prepares individuals to plan, organize, direct, and control the functions and processes of a firm or organization. These programs 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 - Dartmouth

45 Ochterloney Street, Suite 100

Dartmouth, NS B2Y 2N6

(902) 463-6700

Eastern College - Halifax

6940 Mumford Road, Suite 111

Halifax, NS B3L 0B7

(902) 423-3933

Success College

800 Sackville Drive

Lower Sackville, NS B4E 1R8

(902) 865-8283

Academy of Learning - Halifax

6960 Mumford Road, Suite 155-1st Floor Mumford Professional Centre

Halifax, NS B3L 4P1

(902) 455-3395

Acadia University

15 University Avenue

Wolfville, NS B4P 2R6

(902) 542-2201

Dalhousie University

Office of the Registrar

Halifax, NS B3H 4R2

(902) 494-2450

Mount Saint Vincent University

166 Bedford Highway

Halifax, NS B3M 2J6

(902) 457-6117

Universite Sainte-Anne

Siège Social: 1695, Route 1

Pointe-de-l'Église, NS B0W 1M0

(902) 769-2114

St. Francis Xavier University

PO Box 5000

Antigonish, NS B2G 2W5

(902) 867-2219

Saint Mary's University

923 Robie Street

Halifax, NS B3H 3C3

(902) 420-5400

Cape Breton University

PO Box 5300 1250 Grand Lake Road

Sydney, NS B1P 6L2

(888) 959-9995

Nova Scotia Community College - Cumberland Campus

PO Box 550, 1 Main Street

Springhill, NS B0M 1X0

(902) 597-3737

Nova Scotia Community College - Burridge Campus

372 Pleasant Street

Yarmouth, NS B5A 2L2

(902) 742-3501

Nova Scotia Community College - Kingstec Campus

236 Belcher Street

Kentville, NS B4N 0A6

(902) 678-7341

Nova Scotia Community College - Lunenburg Campus

75 High Street

Bridgewater, NS B4V 1V8

(902) 543-4608

Nova Scotia Community College - Pictou Campus & School of Fisheries

PO Box 820, 39 Acadia Avenue

Stellarton, NS B0K 1S0

(902) 752-2002

Nova Scotia Community College - Strait Area Campus & Nautical Institute

226 Reeves Street

Port Hawkesbury, NS B9A 2A2

(902) 625-2380

Nova Scotia Community College - Marconi Campus

PO Box 1042, 1240 Grand Lake Road

Sydney, NS B1P 6J7

(902) 563-2450

Nova Scotia Community College - Truro Campus

36 Arthur Street

Truro, NS B2N 1X5

(902) 893-5385

Nova Scotia Community College - Waterfront Campus & Aviation Institute

80 Mawiomi Place

Dartmouth, NS B2Y 0A5

(902) 491-1100

Nova Scotia Community College - Online Learning

Unit 37, 115 Chain Lake Drive

Halifax, NS B3S 1B3

(877) 491-6774

Business administration, management and operations - Other

This program may be offered at the college, trades, or university level.

This instructional program class comprises any program not listed above that relates to Business Administration, Management and Operations.

Institutions providing this program

Dalhousie University

Office of the Registrar

Halifax, NS B3H 4R2

(902) 494-2450

Business/commerce - General

This program may be offered at the college, trades, or university level.

This instructional program class comprises any program that focuses 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. The program prepares individuals to apply business principles and techniques in various occupational settings.

Institutions providing this program

Dalhousie University

Office of the Registrar

Halifax, NS B3H 4R2

(902) 494-2450

University of King's College

6350 Coburg Road

Halifax, NS B3H 2A1

(902) 422-1271

Universite Sainte-Anne

Siège Social: 1695, Route 1

Pointe-de-l'Église, NS B0W 1M0

(902) 769-2114

Saint Mary's University

923 Robie Street

Halifax, NS B3H 3C3

(902) 420-5400

Cape Breton University

PO Box 5300 1250 Grand Lake Road

Sydney, NS B1P 6L2

(888) 959-9995

Economics - General

This program is typically offered at the college or university level.

This instructional program class comprises any general program that focuses 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. These programs 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

15 University Avenue

Wolfville, NS B4P 2R6

(902) 542-2201

Dalhousie University

Office of the Registrar

Halifax, NS B3H 4R2

(902) 494-2450

University of King's College

6350 Coburg Road

Halifax, NS B3H 2A1

(902) 422-1271

Mount Saint Vincent University

166 Bedford Highway

Halifax, NS B3M 2J6

(902) 457-6117

St. Francis Xavier University

PO Box 5000

Antigonish, NS B2G 2W5

(902) 867-2219

Saint Mary's University

923 Robie Street

Halifax, NS B3H 3C3

(902) 420-5400

Cape Breton University

PO Box 5300 1250 Grand Lake Road

Sydney, NS B1P 6L2

(888) 959-9995

Epidemiology

This program is typically offered at the college or university level.

This instructional program class comprises any program that focuses 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. These programs 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

Office of the Registrar

Halifax, NS B3H 4R2

(902) 494-2450

Mathematics - General

This program is typically offered at the college or university level.

This instructional program class comprises any general program that focuses on the analysis of quantities, magnitudes, forms, and their relationships, using symbolic logic and language. These programs include courses in algebra, calculus, functional analysis, geometry, number theory, logic, topology and other mathematical specializations.

Institutions providing this program

Dalhousie University

Office of the Registrar

Halifax, NS B3H 4R2

(902) 494-2450

University of King's College

6350 Coburg Road

Halifax, NS B3H 2A1

(902) 422-1271

Mount Saint Vincent University

166 Bedford Highway

Halifax, NS B3M 2J6

(902) 457-6117

St. Francis Xavier University

PO Box 5000

Antigonish, NS B2G 2W5

(902) 867-2219

Saint Mary's University

923 Robie Street

Halifax, NS B3H 3C3

(902) 420-5400

Cape Breton University

PO Box 5300 1250 Grand Lake Road

Sydney, NS B1P 6L2

(888) 959-9995

Mathematics and statistics - Other

This program may be offered at the college, trades, or university level.

This instructional program class comprises any program not listed above that relates to Mathematics and Statistics.

Institutions providing this program

Acadia University

15 University Avenue

Wolfville, NS B4P 2R6

(902) 542-2201

Physical sciences - General

This program is typically offered at the college or university level.

This instructional program class comprises any program that focuses on the major topics, concepts, processes, and interrelationships of physical phenomena as studied in any combination of physical science disciplines.

Institutions providing this program

Saint Mary's University

923 Robie Street

Halifax, NS B3H 3C3

(902) 420-5400

Statistics - General

This program is typically offered at the college or university level.

This instructional program class comprises any general program that focuses on the relationships between groups of measurements, and similarities and differences, using probability theory and techniques derived from it. These programs 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

Office of the Registrar

Halifax, NS B3H 4R2

(902) 494-2450

University of King's College

6350 Coburg Road

Halifax, NS B3H 2A1

(902) 422-1271

Mount Saint Vincent University

166 Bedford Highway

Halifax, NS B3M 2J6

(902) 457-6117

St. Francis Xavier University

PO Box 5000

Antigonish, NS B2G 2W5

(902) 867-2219

Employment requirements & contacts

No regulating bodies were found under this occupation profile

Contacts

Canadian Institute of Actuaries
360 Albert Street, Suite 1740
Ottawa, ON K1R 7X7
Tel: (613) 236-8196
Fax: (613) 233-4552
Canadian Mathematical Society
209 - 1725 St. Laurent Boulevard
Ottawa, ON K1G 3V4
Tel: (613) 733-2662
Fax: (613) 733-8994
Statistics Canada
,
Tel: (800) 263-1136

Additional resources

There are no additional resources for this occupation.

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