How to attract and retain actuaries: the role of career progression

What’s most important to actuarial professionals? We recently spoke to over 100 actuaries in the US financial services industry to understand their workplace attitudes, including what they value most in a job. 49% said career progression and growth opportunities are their most important motivator when considering a new role – by far the number one choice.

The importance of progression is further emphasized by the fact that 67% feel they’re fairly compensated, meaning employers can’t guarantee attracting the right talent through salary alone. Let’s look at some of the ways organizations can offer the right progression opportunities to attract and retain actuarial talent.

1. Career pathways

Our daily conversations with actuaries, and the movement we’re seeing in the market, suggest that many actuaries have limited routes to expand their experience, particularly at the part and newly qualified level. Giving them a transparent growth path when they join doesn’t just show them that there’s a long term future with the organization, but also that you’re invested in their career beyond. They need a clear promotion pathway tied into their personal objectives to show them exactly what they need to do to progress. It’s also important to offer them the right development and upskilling opportunities to reach each milestone.

2. Learning opportunities

The actuarial profession is changing all the time and actuaries need to keep learning in order to keep up, particularly when it comes to the technologies that help them perform their jobs. Our candidates are telling us that programming languages such as R, Python and VBA are particularly important in their day to day.

As organizations look to acquire the data they need to make better decisions, AI and advanced analytics are reshaping the insurance industry, particularly pricing, underwriting and risk management. Offering your actuaries training in data science, advanced analytics and AI integration skills is essential to helping your organization adapt.

You also need to keep your actuaries up to date with the latest trends which have a material impact on their role. Sustainability is an increasingly important consideration in the actuarial process, with climate change and social issues affecting organizations’ future financial stability and liabilities.

3. Cross-training

The role of an actuary can be quite data-heavy and analytical. By giving them access to secondment programs and rotational opportunities with other areas of the business, you can broaden their experience, expand their skills and increase their understanding of how the rest of the organization works. Not only will this raise their profile in the business and help them to strengthen their relationships, but it will also increase their commerciality and better equip them to handle the more varied challenges their career will throw at them further down the line.

4. Mentoring

Something we’ve observed of early-career actuaries across the US and UK is that they really value mentoring. This is particularly the case for those who started their career during the COVID period, when they were left isolated with little opportunity to expand their network or learn from more experienced colleagues. In fact, mentoring is one of the main reasons junior actuaries like to spend time in the office. By setting up a mentoring scheme, you’re opening your people up to two-way learning, with mentees picking up valuable tips and mentors developing their nurturing and management skills.

For more advice, speak to us

These insights are drawn from our Actuarial USA Workplace Attitudes and Salary Survey, conducted in August and September 2025. We’ll be publishing the full results towards the end of the year. In the meantime, if you’d like more advice on developing your actuaries or you need support hiring actuarial talent, please get in touch with me to see how we can help.