Mathematicians, statisticians and actuaries

NOC

21210

research mathematical or statistical theories and develop techniques for solving problems in many fields. Actuaries use statistics and probability to assess risk and financial impacts.

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Full NOC Description

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.

Main Duties

This group performs 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

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

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

Design life, health, and property insurance policies, and calculate premiums, contributions and benefits for insurance policies, and pension and superannuation plans

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.

Also Known As

actuary
biostatistician
consulting actuary
demographer
insurance actuary

mathematician

statistical analyst

statistician

Requirements

Employment 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 and three years of work experience in the actuarial field as an actuarial assistant or in a related position.

Provincial Regulation

Not Provincially Regulated

Employment by Sex

The following graph shows the percentage of men and women working in this occupation in New Brunswick.

Data legend

36.4%

Female

63.6%

Male

Employment by age

The following graph shows the breakdown of all persons working in this occupation in New Brunswick by age group.

Data legend

0.0%

15-24

33.3%

25-34

42.9%

35-44

19.0%

45-54

4.8%

55-64

0.0%

65+

Employment by highest level of education

The following graph shows the breakdown of all persons working in this occupation in New Brunswick by highest level of education achieved.

Data legend

0.0%

No Certificate, Diploma or Degree

0.0%

High School, Diploma or Equivalent

0.0%

Apprenticeship or Trades Certificate or Diploma

4.5%

College or University Below Bachelor Level

95.5%

University - Bachelor Level or Above

Employment by Industry

The following graph shows the industry groups in which the largest shares of persons working in this occupation in New Brunswick are employed. Small percentages for all top three industry groups may suggest employment for this occupation is widely distributed amongst many industry groups.

Data legend

36.4%

Finance and insurance

27.3%

Public administration

22.7%

Professional, scientific and technical services

13.6%

All Other Industries

Employment by Economic Regions

The following graph shows the breakdown of all persons employed in this occupation in New Brunswick by which economic region they reside in.

Data legend

N/A

Northeast

31.80%

Southeast

27.30%

Southwest

40.90%

Central

N/A

Northwest

Economic Regions

The following map displays New Brunswick’s five economic regions. An economic region (ER) is a grouping of counties, created as a standard unit for analysis of regional economic activity across Canada.

Annual Average Salary by Economic Regions

The following graph shows the average salary of all persons employed in this occupation in each of New Brunswick’s five economic regions.

Data legend

N/A

Northeast

$85,000

Southeast

$80,000

Southwest

$80,000

Central

N/A

Northwest

Economic Regions

Hourly Median Wages by Economic Regions

The following represents the median hourly wage of all persons employed in this occupation in each of New Brunswick’s five economic regions.

No Data Available

Salary

The following shows the average salary of everyone who worked full-time and year-round in this occupation across each of the Atlantic Provinces and nationally.

Employment Outlook

The following represents the number of job openings that are expected to occur in this occupation over the next three and ten years respectively, broken down by openings expected to result from growth (“new jobs”) and openings expected to result from attrition (death and retirements).

Occupational Profiles