Actuarial jobs offer an exciting career opportunity to jobseekers who have a passion for math, economics, and theory. If you enjoy getting to the bottom of mathematical mysteries, a career as an actuary may be perfect for you. Actuaries evaluate financial risks such as those associated with insurance, pensions, and investments. They apply a deep understanding of business, the economy, statistics, and probability to their client's problems, helping them determine the risk associated with various financial decisions.
After assessing the risk factors associated with a particular situation, actuaries take the next step in this process by advising their clients on which choice is the most financially sound for their business. Actuaries also advise their clients on steps they can take to minimize risk in various areas. In a typical day, an actuary may conduct valuations on assets, calculate ideal funding rates, oversee liability models, and analyze the risk associated with a particular location or catastrophic event.
Actuarial Job Education Requirements
Actuaries need a minimum of a bachelor's degree in mathematics, statistics, operational research, or actuarial studies. The Canadian Institute of Actuaries also administers a professional examination. Upon completion, actuaries are referred to as a "Fellow."
Actuarial Job Market
The actuarial job market is moderate in most areas of Canada. Job opportunities are particularly strong in Manitoba. However, the outlook for actuarial jobs is weak in British Columbia and job opportunities for actuaries are expected to decline in Nova Scotia.
Actuarial Job Salary Information
The median hourly wage for actuaries is C$38.46 in Canada. This ranges from just C$21.54 on the lower end of the scale to an impressive hourly wage of C$72.12 for the highest earners in this occupation. Actuaries enjoy the highest median wages in Alberta, where hourly earnings are C$43.14. The median hourly wage is lowest for actuaries in Nova Scotia at C$27.48.