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Actuaries, Economists and Statisticians

Jobholders in this unit group 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.


Median Salary

New workers start around £29,707. Normal pay is £48,115 per year. Highly experienced workers can earn up to £92,207.

Daily Tasks

  • Addresses seminars, conferences and the media to present results of research activity or to express professional views.
  • Provides economic or statistical advice to governments, commercial enterprises, organisations and other clients in light of research findings.
  • Designs and manages surveys and uses statistical techniques in order to analyse and interpret the quantitative data collected.
  • 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.
  • Uses a variety of techniques and theoretical principles to establish probability and risk in respect of e.g. life insurance or pensions.
  • Assesses the objectives and requirements of the organisation seeking advice.

Skills employers are asking for

  • Mathematics
  • Active Learning
  • Writing
  • Critical Thinking
  • Reading Comprehension
  • Active Listening
  • Monitoring
  • Learning Strategies
  • Speaking
  • Science

Related Courses

Maths GCSE

This part-time course is taught by experienced tutors who can help you to become qualified. Our courses run on a Tuesday and Wednesday from 6pm until 8pm for a number of weeks at our campus.

Length: 34 Weeks
Study: Part Time
Start date: 2nd September 2024
Location: West Lancashire College

View Course