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Actuarial consultant

Also called actuary, actuaries, health actuary

Actuarial consultants analyse, manage and provide guidance on financial impact of risks. They can work in fields related to insurance, pension, investment, banking, healthcare etc. Actuarial consultants apply technical and statistical models and theories to give strategic, commercial, and financial advice.

Will there be jobs?Yes, good prospects40 jobs to fill by 2035 for every 100 people doing this work today.Science and engineering professionalsWhat does it pay?Above averageFrom about €2,000 (Bulgaria) to €7,100 (Denmark) a month, depending on the country.Estimate · Science and engineering professionalsWhat do I need to study?Usually a degree9 in 10 have a degree.Science and engineering professionalsWill AI change it?SignificantlyLevel 5 of 6. AI could take on part of most tasks, but none fully.Mathematicians, actuaries and statisticians · ILO

What you'd do

Mathematicians, actuaries and statisticians · ILO
  • Studying, improving and developing mathematical, actuarial and statistical theories and techniques
  • Advising on or applying mathematical principles, models and techniques to a wide range of tasks in the fields of engineering, natural, social or life sciences
  • Conducting logical analyses of management problems, especially in terms of input-output effectiveness, and formulating mathematical models of each problem usually for programmeming and solution by computer
  • Designing and putting into operation pension schemes and life, health, social and other types of insurance systems
  • Applying mathematics, statistics, probability and risk theory to assess potential financial impacts of future events
  • Planning and organizing surveys and other statistical collections, and designing questionnaires
  • Evaluating, processing, analysing, and interpreting statistical data and preparing them for publication
  • Advising on or applying various data collection methods and statistical methods and techniques, and determining reliability of findings, especially in such fields as business or medicine as well as in other areas of natural, social or life sciences
  • Preparing scientific papers and reports
  • Supervising the work of mathematical, actuarial and statistical assistants and statistical clerks
Apply statistical analysis techniquesAdvise on financial mattersProduce statistical financial recordsProvide support in financial calculationSynthesise financial information+ 4 more essential skills
What the work is like
  • Indoors
  • Sitting most of the day
  • Lots of contact with people
  • Good freedom to decide
  • Usually 40 hours a week
  • Deadlines now and then
  • Some repetitive tasks
US data: based on the O*NET profile of the US job "Actuaries"

Will there be jobs?

Yes, good prospects

Many jobs will need filling by 2035.

People working as science and engineering professionals in the EU
5.82m7.82m9.03m 201520232035

Solid: measured. Dashed: forecast.

Jobs to fill, 2026–2035
948,000 new jobs 2,300,000 replacing leavers
Jobs to fill per 100 people working now
Science and engineering professionals40
All jobs29
Right now
4 of 27 countries report a shortage of mathematicians, actuaries and statisticians, 6 a surplus.
Mathematicians, actuaries and statisticians · EURES

What does it pay?

Above average

Pay depends a lot on the country: from about €2,000 a month (Bulgaria) to €7,100 (Denmark), before tax.

Pick a country at the top of the page to see typical pay there, for people under 30, and compared with all jobs.

Among professionals in the EU, women earn 21% less per hour than men. Professionals · Eurostat

What do I need to study?

Usually a degree

A degree in finance, banking and insurance is the usual route.

Highest qualification of science and engineering professionals (EU, 2025)
Degree 90%Vocational 6%General secondary 3%Basic schooling 1%
Field that teaches it
Finance, banking and insurance
Vocational route, EU
3 in 10 trainees in this field
Business and law graduates in a matching job
66% in the EU

1,314 institutions in the EU offer business and law bachelor's degrees. Pick a country at the top of the page to see where to study and the official course finders.

Will AI change it?

Significantly

AI could take on part of most tasks, but none fully.

How exposed is this job? ILO scale
Very low
Low
Some tasks
Moderate
Significant
High

Average task score 0.56 on a scale from 0 (AI can't do it) to 1 (AI could do it fully).

See the score for each of the 10 tasks
Planning and organizing surveys and other statistical collections, and designing questionnaires0.67
Designing and putting into operation pension schemes and life, health, social and other types of insurance systems0.63
Evaluating, processing, analysing, and interpreting statistical data and preparing them for publication0.63
Advising on or applying various data collection methods and statistical methods and techniques, and determining reliability of findings, especially in such fields as business or medicine as well as in other areas of natural, social or life sciences0.58
Applying mathematics, statistics, probability and risk theory to assess potential financial impacts of future events0.57
Advising on or applying mathematical principles, models and techniques to a wide range of tasks in the fields of engineering, natural, social or life sciences0.56
Conducting logical analyses of management problems, especially in terms of input-output effectiveness, and formulating mathematical models of each problem usually for programmeming and solution by computer0.55
Studying, improving and developing mathematical, actuarial and statistical theories and techniques0.54
Preparing scientific papers and reports0.53
Supervising the work of mathematical, actuarial and statistical assistants and statistical clerks0.35

Based on what AI could technically do when assessed in 2025. It is not a forecast for a future year, and not a forecast of job losses. Scores for mathematicians, actuaries and statisticians. Source: ILO (2025), adapted (credits).