Is the demand for actuaries continuing?
Posted March 8, 2024Sanderson Senior Actuarial Consultant George Mohan gives his thoughts on the actuarial job market and the demand for actuarial talent as we move into 2024:
“There was a high demand for both interim and permanent actuarial talent in the latter half of 2023, and this trend is expected to continue throughout 2024. In particular, demand for interim actuaries is high due to ongoing regulatory changes such as Solvency UK, which has caused a rise in demand for risk and capital actuaries.
The shortage of contract actuarial professionals has also increased the demand for permanent actuaries, resulting in candidates being able to demand and, more importantly, secure higher salaries due to the levels of competition.
We expect the permanent and contract actuarial job markets to be very busy through 2024. As it is a candidate-driven market, companies need to ensure that they can retain their current talent, pay competitive salaries, and have a strong employer brand and EVP to make sure they can attract the best talent.“