Business, research and administrative professionals

How to become an actuaries, economist or statistician

Official title: Actuaries, economists and statisticians

Also called: Actuary, Economist, Statistician, Web analyst, Data scientist, Digital analyst, Research worker, Economic adviser, Campaign analyst, Economic analyst, Economic planner, Actuarial analyst

Actuaries, economists and statisticians apply theoretical principles and practical techniques to assess risk and formulate probabilistic outcomes in order to inform economic and business policy, and to analyse and interpret data used to assist in the formulation of financial, business and economic policies in order to maximise growth or improve business performance.

Main tasks

Assesses the objectives and requirements of the organisation seeking advice
Uses a variety of techniques and theoretical principles to establish probability and risk in respect of e.g. life insurance or pensions
Uses appropriate techniques and theoretical principles to determine an appropriate method of data collection and research methodology, analyse and interpret information gained and formulate recommendations on issues such as future trends, improved efficiency
Designs and manages surveys and uses statistical techniques in order to analyse and interpret the quantitative data collected
Provides economic or statistical advice to governments, commercial enterprises, organisations and other clients in light of research findings
Addresses seminars, conferences and the media to present results of research activity or to express professional views

How to become one

Entry is most common with a relevant degree or equivalent qualification. Professional qualifications are available and mandatory for actuarial occupations.

Ways in

Apprenticeship (England): Actuarial technician (level 4). England. Typically 24 months. Skills England standard ST0004.
Apprenticeship (England): Bioinformatics scientist (degree) (level 7). England. Typically 30 months. Skills England standard ST0649.
Apprenticeship (England): Professional economist (integrated degree) (level 6). England. Typically 42 months. Skills England standard ST0603.
Apprenticeship (England): Senior professional economist (level 7). England. Typically 24 months. Skills England standard ST0796.
University: Science degrees, Offered by 27 universities in the UK
University: Arts & Humanities degrees, Offered by 27 universities in the UK

Pay · Outlook

Median full-time pay: £53,342 a year The middle half earn £41,906 to £74,372.
About 93,500 people work in this job now, and about 105,000 are projected by 2035. (+12.2%)

Questions people ask

How do I become an actuaries, economist or statistician?

Entry is most common with a relevant degree or equivalent qualification. Professional qualifications are available and mandatory for actuarial occupations.

How much does an actuaries, economist or statistician earn in the UK?

Median full-time pay is £53,342 a year (Office for National Statistics). The middle half earn £41,906 to £74,372.

Is an actuaries, economist or statistician a growing career in the UK?

Yes. Employment is projected to grow 12% by 2035, from about 93,500 to about 105,000 people (Department for Education).

Do you need a degree to become an actuaries, economist or statistician?

Usually. 92% of people in this job hold a bachelor's degree or higher.

Sources

Office for National Statistics: Annual Population Survey: employment by occupation (April 2025 to March 2026), OGL v3.0, retrieved 2026-10-03
Office for National Statistics: SOC 2020 Volume 1: structure and descriptions (2026-08-27 edition), OGL v3.0, retrieved 2026-10-03
Department for Education: Skills Imperative 2035: employment projections by occupation (2021 to 2035 (Warwick IER / Cambridge Econometrics)), OGL v3.0, retrieved 2026-10-03
Office for National Statistics: Annual Survey of Hours and Earnings, Table 14 (2025 provisional), OGL v3.0, retrieved 2026-10-03

Updated 2026-10-03

Graduate outcomes: Discover Uni dataset, HESA (www.hesa.ac.uk), licensed under CC BY 4.0 (creativecommons.org/licenses/by/4.0). Aggregated by subject and adapted by Peernovo.