careers.novascotia.ca

Mathematicians, Statisticians, and Actuaries

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NOC:2161
Occupation:Mathematicians, Statisticians, and Actuaries
Category:Engineering, Math, Science, and Information Technology

About the job

Nature of work:

Mathematicians and statisticians research mathematical or statistical theories, and develop and apply mathematical or statistical techniques for solving problems in such fields as science, engineering, business and social science. Actuaries apply mathematics, statistics, probability and risk theory to assess potential financial impacts of future events. Mathematicians, statisticians and actuaries are employed by universities, governments, bank and trust companies, insurance companies, pension benefit consulting firms, professional associations, and science and engineering consulting firms.

Job duties:
Mathematicians, statisticians and actuaries perform some or all of the following duties:
  • Mathematicians conduct research to extend mathematical knowledge in traditional areas of mathematics such as algebra, geometry, probability and logic and apply mathematical techniques to the solution of problems in scientific fields such as physical science, engineering, computer science or other fields such as operations research, business or management.
  • Statisticians conduct research into the mathematical basis of the science of statistics, develop statistical methodology and advise on the practical application of statistical methodology. They also apply statistical theory and methods to provide information in scientific and other fields such as biological and agricultural science, business and economics, physical sciences and engineering, and the social sciences.
  • Actuaries apply mathematical models to forecast and calculate the probable future costs of insurance and pension benefits. They design life, health, and property insurance policies, and calculate premiums, contributions and benefits for insurance policies, and pension and superannuation plans. They may assist investment fund managers in portfolio asset allocation decisions and risk management. They also use these techniques to provide legal evidence on the value of future earnings.
Sample job titles:
  • actuary
  • biometrician
  • business and economics statistician
  • demographer
  • financial statistician
  • mathematician
  • opinion polling statistician
  • statistical analyst
  • statistician
  • survey statistician
Skills:

This work demands strong mathematical and analytical skills. You should be concise, accurate, detail-oriented, and able to develop creative solutions to new problems. Good oral and written communication skills are important. You must be capable of working on your own and meeting deadlines. Computer skills are essential.

Job requirements:
  • Mathematicians and statisticians usually require a graduate degree in mathematics or statistics.
  • Actuaries usually require post-secondary education in actuarial science, mathematics, statistics, economics, commerce or business administration.
  • Actuaries are conferred fellowships through the Canadian Institute of Actuaries upon successful completion of professional examinations.
Other considerations:

Three years of work experience in the actuarial field as an actuarial assistant or in a related position. They may also be self-employed. With experience, actuaries may progress to managerial positions in consulting, insurance and finance.

Labour Market Information

Work Prospects:Undetermined

This is not a large occupation in Nova Scotia so job opportunities may not be that frequent. With a large percent of workers being 55 years of age and older, retirements are expected to be a key contributor to employment opportunities over the coming years. Mathematicians, Statisticians, and Actuaries most commonly work full-time hours. Furthermore, the jobs are typically permanent positions. Also, a fair portion of the workforce is self-employed, so having the option to "work for yourself" may appeal to some individuals’ interests/motivations.

The median employment income for 72% of Mathematicians, Statisticians, and Actuaries who worked full-time, year-round in 2015 was $74,145. Across all occupations in Nova Scotia, 59% of those who worked full-time year round had a median employment income of $43,600.
(Source: 2016 Census)

OccupationEstimated employment in 2018Estimated change in employment between 2017 and 2019Estimated openings due to growth and retirements, 2017-2019Estimated rate of unemployment in 2018 Estimated hourly earnings in 2015 (learn more)Estimated annual earnings in 2015
Mathematicians, Statisticians, and Actuaries185xxx
Minimum:  N/A
Median:  N/A
Maximum:  N/A
Minimum: $28,274
Median: $62,892
Maximum: $137,058
Occupations in Engineering, Math, Science, and Information Technology25,875Strong growth3,095Low
Minimum: $17.69
Median: $31.35
Maximum: $47.18
Minimum: $13,568
Median: $60,422
Maximum: $107,009
Mathematicians, Statisticians, and ActuariesCompared to: Occupations in Engineering, Math, Science, and Information Technology
Percent employed full-time95%94%
Percent self-employed24%7%
Where will I likely work?
Area of EmploymentMathematicians, Statisticians, and ActuariesCompared to: All NS Occupations
% EmployedMedian Annual Income% EmployedMedian Annual Income
SouthernN/Ax12%$30,581
Northern5%x16%$33,660
Cape Breton5%x13%$32,974
Halifax92%x47%$41,209
Annapolis ValleyN/Ax13%$32,958
What are the workers like?
AgeMathematicians, Statisticians, and ActuariesCompared to: All Engineering, Math, Science, and Information Technology
% Employed% Employed
15-2411%x
25-3421%14%
35-4458%33%
45-5411%32%
55-64N/A18%
65+N/A4%
Median Age3543
GenderMathematicians, Statisticians, and ActuariesCompared to: Occupations in Engineering, Math, Science, and Information Technology
% Employed% Employed
Female49%20%
Male51%80%
EducationMathematicians, Statisticians, and ActuariesCompared to: All Engineering, Math, Science, and Information Technology
% EmployedMedian Annual Income% EmployedMedian Annual Income
Less than high schoolxx0.7%$28,107
High schoolxx12.1%$35,125
Trades certificatexx6.8%$54,923
College certificate or diploma5.1%x33.7%$52,476
University certificate or diplomaxx3.7%$52,446
Bachelor's degree56.4%$50,43029.7%$58,011
University advanced certificate or diplomaxx2.0%$54,917
Master's degreex$82,5159.7%$37,706
Doctorate25.6%x1.7%$65,565
Medicine, dentistry, veterinary, optometry7.7%x0.1%$57,566
Total100%100%
Wage Disclaimer

Hourly earnings data are from the Labour Force Survey by Statistics Canada. Data are not available for all occupations. Hourly earnings are calculated based on usual hours worked per week. This is how an annual salary, for instance, gets converted to an hourly rate. The data include full and part-time workers along with new and experienced workers. Self-employed workers are excluded.

Annual employment income data reported in the Work Prospects section, are from the 2011 National Household Survey by Statistics Canada. Much of the data (around 70%) came directly from tax records. The data relates to the year 2010 and includes total wages and salaries and net income from self-employment.

Sources

Employment Requirements & Contacts

Regulations:
No regulating bodies were found under this occupation profile
Useful contacts:
Canadian Institute of Actuaries
360 Albert Street, Suite 1740
Ottawa, ON K1R 7X7
Tel: (613) 236-8196
Fax: (613) 233-4552
head.office@cia-ica.ca
Canadian Mathematical Society
209 - 1725 St. Laurent Boulevard
Ottawa, ON K1G 3V4
Tel: (613) 733-2662
Fax: (613) 733-8994
office@cms.math.ca
Statistics Canada
,
Tel: (800) 263-1136
STATCAN.infostats-infostats.STATCAN@canada.ca

Training Paths & Education

Program Name:Actuarial science
Education Level:This program is typically offered at the college or university level.
Program Description:
This instructional program class comprises any program that focuses on the mathematical and statistical analysis of risk, and their application to insurance and other business management problems. These programs include courses in forecasting theory, quantitative and non-quantitative risk measurement methodologies, development of risk tables, secondary data analysis, and computer-assisted research methods.
See all institutions providing this program+
Dalhousie University
Office of the Registrar
Halifax, NS B3H 4R2
(902) 494-2450
admissions@dal.ca
University of King's College
6350 Coburg Road
Halifax, NS B3H 2A1
(902) 422-1271
admissions@ukings.ca
Program Name:Applied economics
Education Level:This program is typically offered at the college or university level.
Program Description:
This instructional program class comprises any program that focuses on the application of economic principles and analytical techniques to the study of particular industries, activities, or the exploitation of particular resources. These programs include courses in economic theory; microeconomic analysis and modelling of specific industries and commodities; the economic consequences of resource allocation decisions; regulatory and consumer factors; and the technical aspects of specific subjects as they relate to economic analysis.
See all institutions providing this program+
Saint Mary's University
923 Robie Street
Halifax, NS B3H 3C3
(902) 420-5400
admission.status@smu.ca
Program Name:Business administration and management - General
Education Level:This program may be offered at the college, trades, or university level.
Program Description:
This instructional program class comprises any program that generally prepares individuals to plan, organize, direct, and control the functions and processes of a firm or organization. These programs include courses in management theory, human resources management and behaviour, accounting and other quantitative methods, purchasing and logistics, organization and production, marketing, and business decision-making.
See all institutions providing this program+
Maritime Business College - Dartmouth
45 Ochterloney Street, Suite 100
Dartmouth, NS B2Y 2N6
(902) 463-6700
admissions@maritimebusinesscollege.ca
Eastern College - Halifax
6940 Mumford Road, Suite 111
Halifax, NS B3L 0B7
(902) 423-3933
Success College
800 Sackville Drive
Lower Sackville, NS B4E 1R8
(902) 865-8283
Academy of Learning - Halifax
6960 Mumford Road, Suite 155-1st Floor Mumford Professional Centre
Halifax, NS B3L 4P1
(902) 455-3395
careers@aolhrm.com
Acadia University
15 University Avenue
Wolfville, NS B4P 2R6
(902) 542-2201
agi@acadiau.ca
Dalhousie University
Office of the Registrar
Halifax, NS B3H 4R2
(902) 494-2450
admissions@dal.ca
Mount Saint Vincent University
166 Bedford Highway
Halifax, NS B3M 2J6
(902) 457-6117
admissions@msvu.ca
Universite Sainte-Anne
Siège Social: 1695, Route 1
Pointe-de-l'Église, NS B0W 1M0
(902) 769-2114
Blanche.Theriault@usainteanne.ca
St. Francis Xavier University
PO Box 5000
Antigonish, NS B2G 2W5
(902) 867-2219
admit@stfx.ca
Saint Mary's University
923 Robie Street
Halifax, NS B3H 3C3
(902) 420-5400
admission.status@smu.ca
Cape Breton University
PO Box 5300 1250 Grand Lake Road
Sydney, NS B1P 6L2
(888) 959-9995
registrar@cbu.ca
Nova Scotia Community College - Cumberland Campus
PO Box 550, 1 Main Street
Springhill, NS B0M 1X0
(902) 597-3737
cumberland.info@nscc.ca
Nova Scotia Community College - Burridge Campus
372 Pleasant Street
Yarmouth, NS B5A 2L2
(902) 742-3501
burridge.info@nscc.ca
Nova Scotia Community College - Kingstec Campus
236 Belcher Street
Kentville, NS B4N 0A6
(902) 678-7341
kingstec.info@nscc.ca
Nova Scotia Community College - Lunenburg Campus
75 High Street
Bridgewater, NS B4V 1V8
(902) 543-4608
lunenburg.info@nscc.ca
Nova Scotia Community College - Pictou Campus & School of Fisheries
PO Box 820, 39 Acadia Avenue
Stellarton, NS B0K 1S0
(902) 752-2002
pictou.info@nscc.ca
Nova Scotia Community College - Strait Area Campus & Nautical Institute
226 Reeves Street
Port Hawkesbury, NS B9A 2A2
(902) 625-2380
strait.info@nscc.ca
Nova Scotia Community College - Marconi Campus
PO Box 1042, 1240 Grand Lake Road
Sydney, NS B1P 6J7
(902) 563-2450
marconi.info@nscc.ca
Nova Scotia Community College - Truro Campus
36 Arthur Street
Truro, NS B2N 1X5
(902) 893-5385
truro.info@nscc.ca
Nova Scotia Community College - Waterfront Campus & Aviation Institute
80 Mawiomi Place
Dartmouth, NS B2Y 0A5
(902) 491-1100
waterfront.info@nscc.ca
Nova Scotia Community College - Online Learning
Unit 37, 115 Chain Lake Drive
Halifax, NS B3S 1B3
(877) 491-6774
online.learning@nscc.ca
Program Name:Business administration, management and operations - Other
Education Level:This program may be offered at the college, trades, or university level.
Program Description:
This instructional program class comprises any program not listed above that relates to Business Administration, Management and Operations.
See all institutions providing this program+
Dalhousie University
Office of the Registrar
Halifax, NS B3H 4R2
(902) 494-2450
admissions@dal.ca
Program Name:Business/commerce - General
Education Level:This program may be offered at the college, trades, or university level.
Program Description:
This instructional program class comprises any program that focuses on the general study of business, including the processes of interchanging goods and services (buying, selling and producing), business organization, and accounting as used in profit-making and non-profit public and private institutions and agencies. The program prepares individuals to apply business principles and techniques in various occupational settings.
See all institutions providing this program+
Dalhousie University
Office of the Registrar
Halifax, NS B3H 4R2
(902) 494-2450
admissions@dal.ca
University of King's College
6350 Coburg Road
Halifax, NS B3H 2A1
(902) 422-1271
admissions@ukings.ca
Universite Sainte-Anne
Siège Social: 1695, Route 1
Pointe-de-l'Église, NS B0W 1M0
(902) 769-2114
Blanche.Theriault@usainteanne.ca
Saint Mary's University
923 Robie Street
Halifax, NS B3H 3C3
(902) 420-5400
admission.status@smu.ca
Cape Breton University
PO Box 5300 1250 Grand Lake Road
Sydney, NS B1P 6L2
(888) 959-9995
registrar@cbu.ca
Program Name:Economics - General
Education Level:This program is typically offered at the college or university level.
Program Description:
This instructional program class comprises any general program that focuses on the systematic study of the production, conservation and allocation of resources in conditions of scarcity, together with the organizational frameworks related to these processes. These programs include courses in economic theory, microeconomics and macroeconomics, comparative economic systems, money and banking systems, international economics, quantitative analytical methods, and applications to specific industries and public policy issues.
See all institutions providing this program+
Acadia University
15 University Avenue
Wolfville, NS B4P 2R6
(902) 542-2201
agi@acadiau.ca
Dalhousie University
Office of the Registrar
Halifax, NS B3H 4R2
(902) 494-2450
admissions@dal.ca
University of King's College
6350 Coburg Road
Halifax, NS B3H 2A1
(902) 422-1271
admissions@ukings.ca
Mount Saint Vincent University
166 Bedford Highway
Halifax, NS B3M 2J6
(902) 457-6117
admissions@msvu.ca
St. Francis Xavier University
PO Box 5000
Antigonish, NS B2G 2W5
(902) 867-2219
admit@stfx.ca
Saint Mary's University
923 Robie Street
Halifax, NS B3H 3C3
(902) 420-5400
admission.status@smu.ca
Cape Breton University
PO Box 5300 1250 Grand Lake Road
Sydney, NS B1P 6L2
(888) 959-9995
registrar@cbu.ca
Program Name:Epidemiology
Education Level:This program is typically offered at the college or university level.
Program Description:
This instructional program class comprises any program that focuses on the scientific study of disease, disability, and trauma patterns within and across populations and the development of health management mechanisms to prevent and control disease outbreaks and injurious behaviours. These programs include courses in biostatistics, biochemistry, molecular biology, immunology, disease and injury determinants, genetic disease and disability factors, behavioural studies, health services research, environmental disease and injury factors, and population studies.
See all institutions providing this program+
Dalhousie University
Office of the Registrar
Halifax, NS B3H 4R2
(902) 494-2450
admissions@dal.ca
Program Name:Mathematics - General
Education Level:This program is typically offered at the college or university level.
Program Description:
This instructional program class comprises any general program that focuses on the analysis of quantities, magnitudes, forms, and their relationships, using symbolic logic and language. These programs include courses in algebra, calculus, functional analysis, geometry, number theory, logic, topology and other mathematical specializations.
See all institutions providing this program+
Dalhousie University
Office of the Registrar
Halifax, NS B3H 4R2
(902) 494-2450
admissions@dal.ca
University of King's College
6350 Coburg Road
Halifax, NS B3H 2A1
(902) 422-1271
admissions@ukings.ca
Mount Saint Vincent University
166 Bedford Highway
Halifax, NS B3M 2J6
(902) 457-6117
admissions@msvu.ca
St. Francis Xavier University
PO Box 5000
Antigonish, NS B2G 2W5
(902) 867-2219
admit@stfx.ca
Saint Mary's University
923 Robie Street
Halifax, NS B3H 3C3
(902) 420-5400
admission.status@smu.ca
Cape Breton University
PO Box 5300 1250 Grand Lake Road
Sydney, NS B1P 6L2
(888) 959-9995
registrar@cbu.ca
Program Name:Mathematics and statistics - Other
Education Level:This program may be offered at the college, trades, or university level.
Program Description:
This instructional program class comprises any program not listed above that relates to Mathematics and Statistics.
See all institutions providing this program+
Acadia University
15 University Avenue
Wolfville, NS B4P 2R6
(902) 542-2201
agi@acadiau.ca
Program Name:Physical sciences - General
Education Level:This program is typically offered at the college or university level.
Program Description:
This instructional program class comprises any program that focuses on the major topics, concepts, processes, and interrelationships of physical phenomena as studied in any combination of physical science disciplines.
See all institutions providing this program+
Saint Mary's University
923 Robie Street
Halifax, NS B3H 3C3
(902) 420-5400
admission.status@smu.ca
Program Name:Statistics - General
Education Level:This program is typically offered at the college or university level.
Program Description:
This instructional program class comprises any general program that focuses on the relationships between groups of measurements, and similarities and differences, using probability theory and techniques derived from it. These programs include courses in the principles in probability theory, binomial distribution, regression analysis, standard deviation, stochastic processes, Monte Carlo method, Bayesian statistics, non-parametric statistics, sampling theory, and statistical techniques.
See all institutions providing this program+
Dalhousie University
Office of the Registrar
Halifax, NS B3H 4R2
(902) 494-2450
admissions@dal.ca
University of King's College
6350 Coburg Road
Halifax, NS B3H 2A1
(902) 422-1271
admissions@ukings.ca
Mount Saint Vincent University
166 Bedford Highway
Halifax, NS B3M 2J6
(902) 457-6117
admissions@msvu.ca
St. Francis Xavier University
PO Box 5000
Antigonish, NS B2G 2W5
(902) 867-2219
admit@stfx.ca
Additional resources:

There are no additional resources for this occupation.