Actuaries are number pros who figure out how risky or costly things might be in the future. It’s a great job if you love numbers and solving tricky problems. If this sounds like your kind of challenge, read on to find out how to become an actuary in the UK.
Updated: 30 Nov 2025
Actuaries use maths, stats and logic to work out the chances of things happening and what the financial impact might be. For example, they might calculate how much an insurance company should charge someone based on how likely they are to make a claim or help a pension fund plan how long it needs to pay people.
You’ll find actuaries working in places like insurance, finance, and government. They analyse data, build charts, and give advice that helps organisations plan ahead and manage risk. It’s a role that’s all about problem-solving, which is ideal if you enjoy working with numbers and making decisions that really matter.
Being great with numbers is essential, but so are good communication skills. Key qualities include:
Strong numerical and analytical skills: You’ll need a deep understanding of maths and statistics to build models
Attention to detail and problem-solving: Actuarial tasks need thoroughness and logic when interpreting data and solving problems
Business and IT knowledge: Confidence with economics, accounting or finance is useful as is using computers and software
Communication and teamwork: You’ll explain technical results clearly to non-specialists and work well in teams
Ambition and resilience: The actuarial qualification process is demanding, so determination and a desire to succeed are important
GCSEs: At least five GCSEs at grades 4 of above including English and Maths
A-levels (or equivalent): Typically, at least two A-levels including Maths. Further Maths, Economics or Physics are also useful as they build analytical skills
Work experience: Any introduction to finance, data or business can help. For example, a summer internship in an insurance firm or shadowing an actuary would be a bonus. The Institute and Faculty of Actuaries website lists internships and placement schemes for school students
To become an actuary, universities and employers look for degrees with a high level of quantitative content. Common choices are:
BSc Actuarial Science
BSc Actuarial Science and Mathematics
BSc Data Analytics and Actuarial Science
BSc Actuarial Science and Risk Management
You could also consider a BSc or BA in Accounting and Finance or Economics. Unis often offer industry placements and studying abroad. Look for courses that are accredited by the Institute and Faculty of Actuaries (IFoA), these often give exemptions from some professional exams later.
Entry requirements to actuarial degrees tend to be on the high side, typically between 120 - 160 UCAS points unless it combines a foundational year. Unis could be looking for:
A-levels: A*AA–BBB
BTECs: DDD*–DDD
Scottish Highers: AAABB–BBBBB (Advanced Highers: AAA–BBB)
International Baccalaureate: 36–30
NEXT: Check out actuarial degree courses on Whatuni to compare your options.
Degrees in actuarial science combine theory and practical work: you’ll attend lectures and tutorials on maths, statistics, finance and economics, and work on case studies to apply what you learn. For example, a course might cover topics like mathematical finance, contingency and survival models, financial reporting, risk management, and statistical methods.
You’ll also learn how to use tools to prepare you for data modelling. Crucially, accredited degrees align with the actuarial exams meaning outstanding students can earn exemptions from professional exams just by taking the right modules.
Some degrees are four years rather than the standard three, allowing for a placement year in industry or even a year abroad. This will give you hands-on experience and looks great to employers.
While an undergraduate degree is the most common route, there are other options:
Degree apprenticeships
Doing an actuary degree apprenticeship means you earn while you learn, gaining work experience and studying for a recognised qualification at the same time. You’ll be paid, get employee benefits like holiday leave, and build your career straight from school or college. A Level 6 apprenticeship is the equivalent to an undergraduate degree. Entry requirements are similar, but competition can be stronger, so you’ll need to impress.
To find current opportunities, head to the Find an apprenticeship service.
Postgraduate conversion
If you already have a strong degree in a related field, such as maths, you could do a one-year MSc in Actuarial Science. This can give extra exam exemptions and sometimes comes with industry sponsorship.
NEXT: Use our postgraduate course search to look at options
After your degree, you would normally join an employer’s actuarial graduate scheme or training programme. At this stage you register with the Institute and Faculty of Actuaries (IFoA) and begin taking your professional exams alongside work. Employers often help fund study and time off for exams.
As you pass exams and gain experience, your role evolves. You might start as a junior actuarial analyst and then specialise in areas like insurance, pensions or banking. With more experience you could move into senior actuary roles or management. Some actuaries branch into data science or consultancy.
Salary also grows with qualification. The average starter salary is about £32,000, rising towards £70,000 for experienced actuaries. Passing more exams and taking on responsibility are key ways to increase your pay and seniority further.
When applying to university make your application strong by:
Showing your passion: Explain clearly why actuarial work interests you. For example, talk about your enthusiasm for maths or any finance-related activities like Young Enterprise.
Highlighting relevant skills and experience: Give concrete examples of your skills. Maybe you tutored maths, took part in a statistics project, or did work shadowing in an office. Any internship or volunteering in finance, banking or data roles is worth mentioning. These experiences show you understand the field.
Being clear and positive: Avoid clichés or quotes, and don’t exaggerate claims. Proofread carefully to avoid spelling or grammar errors. Your future role is all about details!
Understanding the course: Do your research so you can mention topics you’re excited to study like probability, modelling or economics. This shows you’re prepared and genuinely interested.
Reviews from current students can help inform your own decision on where and what to study. Maria, a 3rd year student studying actuarial science at the University of Essex gave the course 5 stars and said: “The lecturers are always happy to help as long as possible. The material is always available through the online library.”
NEXT: Read more reviews about actuarial science degrees here
Is becoming an actuary hard?
Yes, but in a good way if you enjoy maths and problem-solving. If you're focused and motivated, it’s a rewarding career path.
Do I need to take Maths at school?
Yes! A-level Maths is a must for most actuarial courses. Stats is a bonus too.
Can I study something other than Actuarial Science?
Yes. Maths, Stats, Economics, Physics, or even Engineering are all solid choices.
How many exams do I need to pass to become an actuary?
According to the IFoA programme, you’ll need to pass 13 exams.
Can I specialise later on?
Absolutely. Many actuaries focus on things like pensions, insurance or finance as they gain experience.
Is it well paid?
Very. You could start on £32k and go above £70k with experience and a few exams under your belt.
Ready to explore degrees that will help you become an actuary? Use our course search here.
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