Actuarial mathematician salary

What does an Actuary do?

As an Actuary, you work with analyzing and assessing risks to determine insurance premiums and pensions. The tasks include using mathematical models to predict future costs and incomes, as well as developing insurance products that are both profitable and competitive. The profession requires strong analytical skills and a deep understanding of statistics and economics.

Actuary salary

According to the latest statistics, the average salary for an Actuary is 69 900 SEK per month. Women earn on average slightly more than men, with a salary of 70,000 SEK compared to men's 69 900 SEK. The hourly wage for an actuary is 421 SEK, based on 166 working hours per month.

Salary development over time

We see that the salary for an Actuary has increased from 67 200 SEK last year to 69 900 SEK this year. This indicates a positive salary development within the profession.

Education and qualifications

To become an Actuary, a degree in mathematics, statistics, or economics is usually required. Many employers prefer candidates with a master's degree in actuarial science or related fields. Certifications offered by actuarial societies can also be beneficial.

Common benefits

Actuaries can often benefit from perks such as paid professional development, remote work, and company mobile phones. These benefits vary depending on the employer.

Competition and challenges

According to the Employment Service, there is limited information about the labor market demand for actuaries, but the profession is included in the broader group "Mathematicians and Actuaries" where demand may vary. Technological development and changes in legislation can also impact the future of the profession.

Tips for those who want to work in the field

• Stay updated with the latest trends and technologies in the insurance industry.
• Build a strong network of contacts within the finance and insurance sectors.
• Consider obtaining certifications in actuarial disciplines to enhance your competitiveness.

Career paths and future prospects

Actuaries can advance to leadership roles within insurance companies or consulting firms. After a few years of experience, they can also specialize in specific areas such as life insurance, property insurance, or pension planning. The future prospects for the profession are generally good but may vary depending on the economic situation and technological advancements.

Frequently asked questions about Actuaries

• What does an Actuary earn? The average salary is 69 900 SEK per month, with an hourly wage of approximately 421 SEK.
• How do you become an Actuary? A degree in mathematics, statistics, or economics is fundamental, preferably complemented with actuarial certifications.
• Is it easy to get a job? Competition may vary, but the profession is part of a broader occupational group where demand is generally stable.
• Is it stressful to work as an Actuary? The profession can be stressful, especially under time pressure and when important decisions must be made based on complex analyses.
• What qualities are important as an Actuary? Analytical ability, accuracy, and a good understanding of mathematics and statistics are crucial.