Mathematicians, Statisticians, and Actuaries
(NOC 2161)
in All Engineering, Math, Science, and Information TechnologyMathematicians 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
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Compared to: All Engineering, Math, Science, and Information Technology
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
MinimumN/A
MedianN/A
MaximumAnnual Pay
$28,274
Minimum$62,892
Median$137,058
MaximumCompared to: All Engineering, Math, Science, and Information Technology
Hourly Pay
$17.69
Minimum$31.35
Median$47.18
MaximumAnnual Pay
$13,568
Minimum$60,422
Median$107,009
MaximumAbout 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
employed in 2016
employed full-time
self employed
median age
Compared to: All Engineering, Math, Science, and Information Technology
employed in 2016
employed full-time
self employed
median age
Where will I likely work?
Halifax
Northern
Cape Breton
Compared to: All NS Occupations
Halifax
Northern
Annapolis Valley
Cape Breton
Southern
Top Industries of Employment
Finance, Insurance, Real Estate & Leasing
Other Professional Services
Public Administration
Educational Services
Health Care and Social Assistance
What is the age of Employment?
35-44
25-34
45-54
15-24
Compared to: All Engineering, Math, Science, and Information Technology
35-44
45-54
55-64
25-34
65+
Top levels of education
Bachelor's degree
$50,430 median annual incomeDoctorate
N/AMedicine, dentistry, veterinary, optometry
N/ACollege certificate or diploma
N/ACompared to: All Engineering, Math, Science, and Information Technology
College certificate or diploma
$52,476 median annual incomeBachelor's degree
$58,011 median annual incomeHigh school
$35,125 median annual incomeMaster's degree
$37,706 median annual incomeTrades certificate
$54,923 median annual incomeEducation & 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
Office of the Registrar
Halifax, NS B3H 4R2
(902) 494-2450
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
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
45 Ochterloney Street, Suite 100
Dartmouth, NS B2Y 2N6
(902) 463-6700
6960 Mumford Road, Suite 155-1st Floor Mumford Professional Centre
Halifax, NS B3L 4P1
(902) 455-3395
Office of the Registrar
Halifax, NS B3H 4R2
(902) 494-2450
166 Bedford Highway
Halifax, NS B3M 2J6
(902) 457-6117
Siège Social: 1695, Route 1
Pointe-de-l'Église, NS B0W 1M0
(902) 769-2114
PO Box 5000
Antigonish, NS B2G 2W5
(902) 867-2219
923 Robie Street
Halifax, NS B3H 3C3
(902) 420-5400
PO Box 5300 1250 Grand Lake Road
Sydney, NS B1P 6L2
(888) 959-9995
PO Box 550, 1 Main Street
Springhill, NS B0M 1X0
(902) 597-3737
372 Pleasant Street
Yarmouth, NS B5A 2L2
(902) 742-3501
236 Belcher Street
Kentville, NS B4N 0A6
(902) 678-7341
75 High Street
Bridgewater, NS B4V 1V8
(902) 543-4608
PO Box 820, 39 Acadia Avenue
Stellarton, NS B0K 1S0
(902) 752-2002
226 Reeves Street
Port Hawkesbury, NS B9A 2A2
(902) 625-2380
PO Box 1042, 1240 Grand Lake Road
Sydney, NS B1P 6J7
(902) 563-2450
36 Arthur Street
Truro, NS B2N 1X5
(902) 893-5385
80 Mawiomi Place
Dartmouth, NS B2Y 0A5
(902) 491-1100
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
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
Office of the Registrar
Halifax, NS B3H 4R2
(902) 494-2450
6350 Coburg Road
Halifax, NS B3H 2A1
(902) 422-1271
Siège Social: 1695, Route 1
Pointe-de-l'Église, NS B0W 1M0
(902) 769-2114
923 Robie Street
Halifax, NS B3H 3C3
(902) 420-5400
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
Office of the Registrar
Halifax, NS B3H 4R2
(902) 494-2450
6350 Coburg Road
Halifax, NS B3H 2A1
(902) 422-1271
166 Bedford Highway
Halifax, NS B3M 2J6
(902) 457-6117
PO Box 5000
Antigonish, NS B2G 2W5
(902) 867-2219
923 Robie Street
Halifax, NS B3H 3C3
(902) 420-5400
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
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
Office of the Registrar
Halifax, NS B3H 4R2
(902) 494-2450
6350 Coburg Road
Halifax, NS B3H 2A1
(902) 422-1271
166 Bedford Highway
Halifax, NS B3M 2J6
(902) 457-6117
PO Box 5000
Antigonish, NS B2G 2W5
(902) 867-2219
923 Robie Street
Halifax, NS B3H 3C3
(902) 420-5400
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
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
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
Office of the Registrar
Halifax, NS B3H 4R2
(902) 494-2450
6350 Coburg Road
Halifax, NS B3H 2A1
(902) 422-1271
166 Bedford Highway
Halifax, NS B3M 2J6
(902) 457-6117
PO Box 5000
Antigonish, NS B2G 2W5
(902) 867-2219
Employment requirements & contacts
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Contacts
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There are no additional resources for this occupation.