SOC 2433 Business, media and public service professionals

Actuaries, economists and statisticians Salary

Median salary £51,520 per year (2025). Based on ONS ASHE data.

Gross pay, before deductions. See take-home pay on £52,000 after tax and National Insurance →

For actuaries, economists and statisticians, £53,342 is the typical (median) pay. That is well above the UK full-time median of £39,039 — +37% versus the national average. Experienced actuaries, economists and statisticians (top 25%) earn over £73,468.

About this role

Actuaries, economists and statisticians (2020 SOC) use advanced mathematical and analytical methods to model risk, forecast economic trends and analyse complex datasets. They provide quantitative analysis that underpins decision-making in insurance, pensions, government policy, finance and research.

Key responsibilities

Developing and validating quantitative models
Analysing complex datasets and identifying patterns
Producing economic forecasts and risk assessments
Advising on pricing, reserving and capital management (actuaries)
Contributing to policy development and evaluation (economists)

Qualifications and entry routes

Actuaries: IFoA fellowship (FIA) through professional exams. Economists: typically masters or PhD in economics. Statisticians: degree in statistics/mathematics, with RSS accreditation available.

Career outlook

Excellent career prospects across all three disciplines. Climate risk modelling, health analytics and data science are expanding career pathways.

Key skills

Quantitative modelling Programming (R, Python, SQL) Economic theory Risk analysis Technical communication

Common industries

Insurance and reinsurance
Pensions
Government Economic Service
Central banking
Consulting

Data coverage

SOC code 2433

Data source ONS ASHE

Years available 2015–2025

Estimated jobs 43,000

Median Salary

£51,520

Mean Salary

£62,883

Jobs (000s)

43k

Data Years

11 years

Salary Range (2025)

P25: £41,471Median: £51,520P75: £73,468

P10: £33kP25: £41kMedian: £52kP75: £73kP90: --

Estimated Career Progression

Based on salary percentile distribution for this occupation

Entry Level

£32,604

0-2 years

Mid Level

£41,471

3-7 years

Senior

£73,468

8-15 years

Potential career growth: +125% from entry to leadership

Salary Trend (2015-2025)

Adjust for inflation

Nominal growth: +13.8%Real growth: -17.5%

Gender Pay Comparison (2025)

Gender pay gap: 12.9%

Full-time vs All Employees (2025)

All Employees

£51,520

Full-time Only

£53,342

Full-time premium: +£1,822

Actuaries, economists and statisticians salary: common questions

How much do actuaries, economists and statisticians earn in the UK?

Actuaries, economists and statisticians earn a median of £53,342 a year (ONS ASHE 2025). The middle half earn between £41,471 and £73,468.

Is £53,342 a good salary in the UK?

What is the starting salary for actuaries, economists and statisticians?

Entry-level actuaries, economists and statisticians typically start near the lower end of the range. The bottom 25% earn up to £41,471, and the lowest-paid 10% earn under £32,604.

Have actuaries, economists and statisticians salaries kept up with inflation?

Since 2015, median actuaries, economists and statisticians pay has risen from £45,362 to £53,342 — +18% in cash terms, or -15% after CPIH inflation. That is behind inflation over the period.

Is there a gender pay gap for actuaries, economists and statisticians?

Male actuaries, economists and statisticians earn a median £54,717 and female actuaries, economists and statisticians £47,656 — a gap of +13% in 2025.

Figures: ONS Annual Survey of Hours and Earnings, gross annual pay. UK full-time median £39,039 (2025).