Overview of the pathway(s) (ie GCSEs —> A Levels —> degree —> further training?)

GCSEs → A-levels (strong quantitative subjects) → relevant degree (mathematics/statistics/actuarial science/economics/engineering) → enter industry in a graduate/assistant actuarial role → sit professional actuarial exams while working → achieve fellowship (fully qualified actuary) → specialise in pensions via workplace experience and specialist exa

⁠Possible alternative pathways:

Degree in a non-pure-math subject plus strong quantitative conversion (MSc in Actuarial Science / Financial Maths) or vocationally via apprenticeship/graduate scheme + on-the-job study for professional exams.

GCSE Grades necessary (are particular subjects necessary/helpful?):

Good passes across the board; strong passes in Maths and English. Higher grades (7–9 / A*–A) in Maths are a big advantage.

A Level grades necessary (are particular subjects necessary/helpful?):

Need at least a C in A Level Maths

Degree necessary? 

Not strictly mandatory, but most employers expect a good degree (2:1 or above) in a quantitative subject. 

Which degree(s) are needed/would be helpful? 

Mathematics, Statistics, Actuarial Science, Financial Mathematics, Economics, Engineering, Physics. 

Accreditations needed, if so which?

Not needed before you start. But once you start your career you’ll gain a Professional qualification through the Institute and Faculty of Actuaries (IFoA) in the UK — moving from student to Associate to Fellow (credential often cited as FIA for Fellows). Membership and CPD are essential for career progression in pensions.

Courses/prep work to do now?

Solidify maths/statistics; learn Excel to an advanced level (including pivot tables, VBA basics), get comfortable with SQL/Python/R for data work, basic accounting and finance, practice report writing and presentation skills. Try to secure a summer internship or work experience in insurance/pensions/finance.

Passive income prospects within the career itself?

Limited direct passive income from the actuarial role

Day to day tasks/roles: brief overview of daily life in that career 

• Running and interpreting pension scheme valuations and cash-flow projections
• Building/maintaining models (Excel/technical software) and stochastic simulations
• Advising trustees, employers and HR on funding, risk transfer (buy-ins/buy-outs), scheme design and accounting disclosures
• Preparing reports, board/trustee presentations and regulatory submissions
• Meetings with clients and lawyers; reviewing contracts and proposals
• Studying for professional exams (especially early career

Hours of work (how flexible is this?):

Typically full-time (37–40 hours). Hours are reasonably predictable but can spike around valuation deadlines, year-end accounts, and major projects. Flexible/remote working is common in many firms and consultancies.

⁠Average salary (based on 5 day working week): 

• Trainee/analyst: £28,000–£45,000
• Part-qualified actuary: £45,000–£70,000
• Fully qualified (Fellow), mid-level: £70,000–£120,000
• Senior partner/head of practice: £120,000+

(Actual pay varies by employer, location and sector.)

Free time

Work–life balance is generally good outside of busy periods. Expect exam study to reduce free time early in your career. Senior roles can demand more time for client work and management.

Self employed/employed

many actuaries are employed by consultancies, insurers, employers, or regulators. After qualification, some move into freelance consultancy or form boutique practices.

Autonomy

Moderate to high. Junior staff follow senior guidance; qualified actuaries often lead projects, set advice, and interact directly with trustees/clients, with significant professional responsibility.

⁠Career progression opportunities

Clear path: trainee → part-qualified → qualified actuary (Fellow) → senior consultant / head of pensions / partner / chief actuary / in-house pensions director / roles in investment or risk. Skills are transferable to broader ERM, finance, investment or executive roles

Respected companies you could work for: 

Barnett Waddingham, Hymans Robertson, Mercer, Aon, Willis Towers Watson, KPMG, Deloitte, PwC. Also in-house roles at large employers, insurers (e.g. Legal & General), and pension scheme administrators

Potential future role of AI/technological developments in this career: lots of opportunities to embed AI into the work we do important to work with to help increase efficiencies 

Where to learn more about this pathway:

Employer graduate scheme pages (Mercer, Barnett Waddingham, Hymans Robertson, Aon, Willis Towers Watson).

• Careers sites such as Prospects and targetjobs (actuarial sections).
• University MSc Actuarial Science course pages for conversion options.
• The Pensions Regulator for UK pensions rules and guidance.

Overview of the pathway(s) (ie GCSEs —> A Levels —> degree —> further training?)

GCSEs → A-levels (strong quantitative subjects) → relevant degree (mathematics/statistics/actuarial science/economics/engineering) → enter industry in a graduate/assistant actuarial role → sit professional actuarial exams while working → achieve fellowship (fully qualified actuary) → specialise in pensions via workplace experience and specialist exa

⁠Possible alternative pathways:

Degree in a non-pure-math subject plus strong quantitative conversion (MSc in Actuarial Science / Financial Maths) or vocationally via apprenticeship/graduate scheme + on-the-job study for professional exams.

GCSE Grades necessary (are particular subjects necessary/helpful?):

Good passes across the board; strong passes in Maths and English. Higher grades (7–9 / A*–A) in Maths are a big advantage.

A Level grades necessary (are particular subjects necessary/helpful?):

Need at least a C in A Level Maths

Degree necessary? 

Not strictly mandatory, but most employers expect a good degree (2:1 or above) in a quantitative subject. 

Which degree(s) are needed/would be helpful? 

Mathematics, Statistics, Actuarial Science, Financial Mathematics, Economics, Engineering, Physics. 

Accreditations needed, if so which?

Not needed before you start. But once you start your career you’ll gain a Professional qualification through the Institute and Faculty of Actuaries (IFoA) in the UK — moving from student to Associate to Fellow (credential often cited as FIA for Fellows). Membership and CPD are essential for career progression in pensions.

Courses/prep work to do now?

Solidify maths/statistics; learn Excel to an advanced level (including pivot tables, VBA basics), get comfortable with SQL/Python/R for data work, basic accounting and finance, practice report writing and presentation skills. Try to secure a summer internship or work experience in insurance/pensions/finance.

Passive income prospects within the career itself?

Limited direct passive income from the actuarial role

Day to day tasks/roles: brief overview of daily life in that career 

• Running and interpreting pension scheme valuations and cash-flow projections
• Building/maintaining models (Excel/technical software) and stochastic simulations
• Advising trustees, employers and HR on funding, risk transfer (buy-ins/buy-outs), scheme design and accounting disclosures
• Preparing reports, board/trustee presentations and regulatory submissions
• Meetings with clients and lawyers; reviewing contracts and proposals
• Studying for professional exams (especially early career

Hours of work (how flexible is this?):

Typically full-time (37–40 hours). Hours are reasonably predictable but can spike around valuation deadlines, year-end accounts, and major projects. Flexible/remote working is common in many firms and consultancies.

⁠Average salary (based on 5 day working week): 

• Trainee/analyst: £28,000–£45,000
• Part-qualified actuary: £45,000–£70,000
• Fully qualified (Fellow), mid-level: £70,000–£120,000
• Senior partner/head of practice: £120,000+

(Actual pay varies by employer, location and sector.)

Free time

Work–life balance is generally good outside of busy periods. Expect exam study to reduce free time early in your career. Senior roles can demand more time for client work and management.

Self employed/employed

many actuaries are employed by consultancies, insurers, employers, or regulators. After qualification, some move into freelance consultancy or form boutique practices.

Autonomy

Moderate to high. Junior staff follow senior guidance; qualified actuaries often lead projects, set advice, and interact directly with trustees/clients, with significant professional responsibility.

⁠Career progression opportunities

Clear path: trainee → part-qualified → qualified actuary (Fellow) → senior consultant / head of pensions / partner / chief actuary / in-house pensions director / roles in investment or risk. Skills are transferable to broader ERM, finance, investment or executive roles

Respected companies you could work for: 

Barnett Waddingham, Hymans Robertson, Mercer, Aon, Willis Towers Watson, KPMG, Deloitte, PwC. Also in-house roles at large employers, insurers (e.g. Legal & General), and pension scheme administrators

Potential future role of AI/technological developments in this career: lots of opportunities to embed AI into the work we do important to work with to help increase efficiencies 

Where to learn more about this pathway:

Employer graduate scheme pages (Mercer, Barnett Waddingham, Hymans Robertson, Aon, Willis Towers Watson).

• Careers sites such as Prospects and targetjobs (actuarial sections).
• University MSc Actuarial Science course pages for conversion options.
• The Pensions Regulator for UK pensions rules and guidance.