Actuarial Analyst
Also advertised as: Actuarial Analyst, Actuarial Graduate, Actuarial Technician, Pricing Analyst, Risk Analyst, Trainee Actuary
Uses statistics and modelling to assess financial risk for insurers and pension schemes.
What the job involves
Actuarial analysts build models that price insurance products, value pension liabilities or assess financial risk. The role combines maths with business judgement, and most analysts study towards actuarial exams through the Institute and Faculty of Actuaries alongside full-time work. It is one of the more mathematically demanding routes into finance.
Typical responsibilities
- Build and maintain statistical and financial models
- Analyse mortality, claims or investment data
- Support pricing or reserving decisions
- Prepare reports for actuarial and business stakeholders
- Study towards professional actuarial exams
Common employers
- Insurance companies
- Pension consultancies
- Reinsurers
- Investment banks
Pay, hours and working environment
Typical pay
£32,000 – £40,000 a year
With experience
£55,000 – £80,000 a year
Typical hours
37.5 hours
Working environment
Office based or hybrid
Remote working
hybrid
Demand for this work
steady
Pay ranges are indicative guidance drawn from advertised UK vacancies and published careers information. They are not an offer, and actual pay varies by employer, location and experience.
Skills and qualifications
Core skills
- Advanced mathematics
- Statistical modelling
- Programming or Excel
- Analytical writing
- Attention to detail
Transferable skills you may already have
- Strong grades in maths or statistics
- Coding or spreadsheet modelling
- Structured problem solving
Requirements employers ask for
- Advanced mathematics
- Statistical modelling
- Programming or Excel
- Analytical writing
- Attention to detail
- Degree with strong mathematical content, typically a 2:1 or above
Useful but not essential
- Strong grades in maths or statistics
- Coding or spreadsheet modelling
- Structured problem solving
- Progress towards IFoA actuarial exams
- Programming skills such as R or Python
Helpful qualifications
- Progress towards IFoA actuarial exams
- Programming skills such as R or Python
Ways into this career
A degree is only one route. Where an apprenticeship, work-experience or qualification route exists, it is listed here alongside the academic option.
Apprenticeships and work-based routes
- Actuarial Technician (Level 4)
Degree and college routes
- Related subject: Mathematics
- Related subject: Statistics
- Related subject: Actuarial science
- Related subject: Economics
Where this career can lead
next
Actuary
next
Senior Actuarial Analyst
next
Chief Actuary
The good parts and the hard parts
What people enjoy
- Exceptionally strong long-term earning potential
- Exams are fully funded by most employers
- Intellectually demanding, varied problem sets
What people find hard
- Professional exams take years and require sustained study
- Entry is competitive and maths-heavy
Common questions
- Do you need a degree to become a actuarial analyst?
- No. As well as degree routes, this career can be entered through an apprenticeship or by building experience and qualifications on the job. required
- How much does a actuarial analyst earn in the UK?
- Typical advertised pay runs from £32,000 to £40,000 a year, rising towards £80,000 with experience. Figures are indicative guidance rather than an offer.
- What skills transfer into this career?
- Skills that transfer well include Strong grades in maths or statistics, Coding or spreadsheet modelling, Structured problem solving.
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Where this information comes from
- National Careers Service
- Institute for Apprenticeships
Last reviewed 14 September 2026.
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