Actuaries, economists and statisticians: pay and what the work involves

Occupation 2433 · Professional occupations

Actuaries, economists and statisticians

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.

How people enter it

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

What the work involves

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

Also called

Actuarial consultant · Actuary · Bioinformatician · Economist · Financial engineer · Statistician · Statistical analyst · Web analyst

What it pays

Measure	Hours	Basis	Period	Value	Source
2433 : Actuaries, economists and statisticians	None	None	2026-03	75,300.00	ONS, Annual Population Survey - employment by occupation (SOC 2020)
2433 : Actuaries, economists and statisticians	None	None	2026-03	78,000.00	ONS, Annual Population Survey - employment by occupation (SOC 2020)
2433 : Actuaries, economists and statisticians	None	None	2026-03	83,400.00	ONS, Annual Population Survey - employment by occupation (SOC 2020)
2433 : Actuaries, economists and statisticians	None	None	2026-03	2,500.00	ONS, Annual Population Survey - employment by occupation (SOC 2020)
2433 : Actuaries, economists and statisticians	None	None	2026-03	5,400.00	ONS, Annual Population Survey - employment by occupation (SOC 2020)
2433 : Actuaries, economists and statisticians	None	None	2026-03	85,900.00	ONS, Annual Population Survey - employment by occupation (SOC 2020)
2433 : Actuaries, economists and statisticians	None	None	2026-03	2,800.00	ONS, Annual Population Survey - employment by occupation (SOC 2020)

Every regional figure

ONS does not publish occupational pay below region. Cells the survey could not support are shown as withheld, with its reason — adding a region split to a specific occupation leaves roughly a tenth of cells publishable.

Region	Measure	Hours	Value	Period
East	2433 : Actuaries, economists and statisticians	None	8,300.00	2026-03
East Midlands	2433 : Actuaries, economists and statisticians	None	1,800.00	2026-03
London	2433 : Actuaries, economists and statisticians	None	35,500.00	2026-03
North East	2433 : Actuaries, economists and statisticians	None	2,100.00	2026-03
North West	2433 : Actuaries, economists and statisticians	None	4,900.00	2026-03
Northern Ireland	2433 : Actuaries, economists and statisticians	None	2,500.00	2026-03
Scotland	2433 : Actuaries, economists and statisticians	None	5,400.00	2026-03
South East	2433 : Actuaries, economists and statisticians	None	12,200.00	2026-03
South West	2433 : Actuaries, economists and statisticians	None	3,400.00	2026-03
Wales	2433 : Actuaries, economists and statisticians	None	2,800.00	2026-03
West Midlands	2433 : Actuaries, economists and statisticians	None	2,700.00	2026-03
Yorkshire and The Humber	2433 : Actuaries, economists and statisticians	None	4,300.00	2026-03

Common questions

Does pay for actuaries, economists and statisticians vary by region?

ONS publishes regional pay for this occupation where the survey sample supports it — 12 of 12 cells on this page. The rest are withheld by ONS, and are shown as withheld with the reason, rather than left out.

Where do these pay figures come from?

The Annual Survey of Hours and Earnings, published by the Office for National Statistics. Figures are shown exactly as ONS publishes them — we do not adjust, model or fill them in, and every number on this page carries the series and period it came from.

The Datum Report