Actuary Average UK Salary & Prospects

Actuaries work with companies and government departments, to help them forecast long-term financial costs and investment risks.

Typical task
Working hours
Attractive values

Evaluate information on applications to verify completeness and accuracy and to determine whether applicants are qualified to obtain desired licenses.
Collect prescribed fees for licenses.
Verify the authenticity of documents, such as foreign identification or immigration documents.
Question applicants to obtain required information, such as name,

Evaluate information on applications to verify completeness and accuracy and to determine whether applicants are qualified to obtain desired licenses.
Collect prescribed fees for licenses.
Verify the authenticity of documents, such as foreign identification or immigration documents.
Question applicants to obtain required information, such as name, address, or age, and record data on prescribed forms.
Update operational records or licensing information, using computer terminals.
Answer questions or provide advice to the public regarding licensing policies, procedures, or regulations.
Maintain records of applications made or licensing fees collected.
Perform routine data entry or other office support activities, including creating, sorting, photocopying, distributing, or filing documents.
Code information on license applications for entry into computers.
Inform customers by mail or telephone of additional steps they need to take to obtain licenses.
Perform record checks on past or current licensees, as required by investigations.
Train other workers or coordinate their work, as necessary.
Prepare bank deposits and take deposits to banks.
Assemble photographs with printed license information to produce completed documents.
Operate specialized photographic equipment to obtain photographs for drivers' licenses or photo identification cards.
Instruct customers in the completion of driver's license application forms or other forms, such as voter registration cards or organ donor forms.
Conduct and score oral, visual, written, or performance tests to determine applicant qualifications and notify applicants of their scores.
Prepare lists of overdue accounts, license suspensions, or issuances.
Stock counters with adequate supplies of forms, film, licenses, or other required materials.
Respond to correspondence from insurance companies regarding the licensure of agents, brokers, or adjusters.
Mail driver's licenses to out-of-county or out-of-state applicants.

Average salary
56,442 GBP *
per year

Average salary for Actuary

Men make 19% more than Women

73% of Actuarys are men

Big gender gap

58,996 GBP
47,583 GBP

Average salary for full-time Actuary

Showing:

56,442 GBP
47,583 GBP
58,996 GBP

Pay over time for Actuary

Pay for this role has decreased slightly over time

62,070 GBP
62,603 GBP
64,136 GBP
60,058 GBP
56,442 GBP

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Future outlook for Actuarys

Balanced outlook

30 000+ jobs available

Fair outlook

-2% yearly wage growth (on average)

Very good outlook

23% chance of automation in the future

Which qualifications do I need?

Find out what you need to know in order to become a Actuary and the highest average level of education for people in this role.

In terms of people already doing this job:

55% of people in this role have GCSEs or equivalent
15% of people in this role have a certificate of higher education or equivalent but no degree
12% of people in this role have a Bachelor's degree

You may be able to switch to actuarial work from a related profession, like risk management, financial services or business analysis. You would then follow an employer training programme to qualify.

Get the right qualification to begin your journey to becoming a Actuary

Financial Risk

What soft skills do I need?

Rise above the competition by brushing up on the 5 most important soft skills you need to become a Actuary.

Active Listening Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times

Speaking Talking to others to convey information effectively

Active Learning Understanding the implications of new information for both current and future problem-solving and decision-making

Coordination Adjusting actions in relation to others' actions

Critical Thinking Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems

What technical skills do I need?

Technical skills are programmes, softwares and things you need to know in order to be a successful Actuary. Check that you know:

Electronic mail software Microsoft Outlook

Office suite software Microsoft Office

Presentation software Microsoft PowerPoint

Spreadsheet software Microsoft Excel

Word processing software Microsoft Word

Improve your skills today

Financial Risk

Dependability Job requires being reliable, responsible, and dependable, and fulfilling obligations. Cooperation Job requires being pleasant with others on the job and displaying a good-natured, cooperative attitude. Attention to Detail Job requires being careful about detail and thorough in completing work tasks. Self Control Job requires maintaining composure, keeping emotions in check, controlling anger, and avoiding aggressive behavior, even in very difficult situations. Social Orientation Job requires preferring to work with others rather than alone, and being personally connected with others on the job.

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