Actuaries may work on a salaried or contract basis. They may work for:
- Consulting firms
- Government departments
- Large corporations
- Life insurance companies
- Property or casualty insurance companies
- Reinsurance companies
There is an increasing demand for actuaries in non-traditional roles. These include compensation consulting, workers’ compensation, health care management, financial planning, investments, environmental liability, enterprise risk management, human resources, and information systems.
Experienced actuaries may advance to senior management positions.
Actuaries are part of the larger 2011 National Occupational Classification 2161: Mathematicians, Statisticians and Actuaries. In Alberta, 78% of people employed in this classification work in the following industries:
The employment outlook [pdf] in this occupation is influenced by a wide variety of factors including:
- Trends and events affecting overall employment, especially in the industries listed above
- Location in Alberta
- Employment turnover (when people leave existing positions)
- Occupational growth (when new positions are created)
- Size of the occupation
In Alberta, the 2161: Mathematicians, statisticians and actuaries occupational group is expected to have an above-average annual growth of 10% from 2019 to 2023. In addition to job openings created by employment turnover, 20 new positions are forecasted to be created within this occupational group each year.
Employment turnover is expected to increase as members of the baby boom generation retire over the next few years.