Actuarial Analyst Salary

Actuarial Analysts in the United States can expect wages of $62K annually on average. Total cash compensation to Actuarial Analysts varies from $51K to $80K; higher pay grades include potential for bonuses and profit sharing as high as $7K each. Compensation for this group is mainly affected by experience level, but geography and the individual firm are influential factors as well. Nearly all report receiving medical coverage from their employers and most collect dental insurance. The majority of Actuarial Analysts claim high levels of job satisfaction. There are more male Actuarial Analysts than female among those who completed the questionnaire, making up 64 percent. The figures in this overview were provided by individuals who took PayScale's salary questionnaire.
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$50,181 - $78,392
$50K
$62K
$78K
MEDIAN: $61,967
10%
50%
90%

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$18.75 - $28.15
$22
MEDIAN: $22.38
50%

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$0$80K
Salary $50,181 - $78,392
Bonus $1,419 - $7,162
Profit Sharing $500 - $7,000
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$50,677 - $80,436
  • Country: United States
  • Currency: USD
  • Updated: 11 Jul 2017
  • Individuals Reporting: 560
Hourly Data $0$55
Hourly Rate $22.38
Overtime $33.17 - $55.83
Annual Data $0$80K
Bonus $1,419 - $7,162
Profit Sharing $500 - $7,000
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$50,677 - $80,436
  • Country: United States
  • Currency: USD
  • Updated: 11 Jul 2017
  • Individuals Reporting: 9

Find Out Exactly What You Should Be Paid

United States (change)

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Job Description for Actuarial Analyst

An actuary analyst uses data to measure risk for a company or organization, such as insurance company or a financial services business. Common functions performed by an actuary analyst include coordinating, preparing, and performing actuarial analyses, which are required by companies when developing new products, projecting future results, repricing existing products, and/or determine financial strength. An actuary analyst is usually expected to work under minimal supervision and must be able to perform moderately complex work assignments and problem resolution.

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Actuarial Analyst Tasks

  • Analyze risk evaluation data, using appropriate models and statistical methods, and creating relevant charts and graphs.
  • Review accuracy of data and calculations.
  • Report and interpret results of data analysis.

Common Career Paths for Actuarial Analyst


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Actuarial Analysts who transition into a Senior Actuarial Analyst role may receive large pay increases as the latter position pays an average $80K per year.

Actuarial Analyst Job Listings

Popular Employer Salaries for Actuarial Analyst


Dominating the field, Towers Watson, Milliman, Incorporated, Mercer LLC, Liberty Mutual Insurance Group, and Aetna, Inc. are top firms with a reputation for hiring a great number of Actuarial Analysts. Liberty Mutual Insurance Group offers the highest compensation with a median salary of $74K. Other leaders in compensation levels are Milliman, Incorporated at $65K, UnitedHealth Group at $64K, and Mercer LLC, where Actuarial Analysts annually earn $63K.

Also sliding in at the lower end of the scale are Towers Watson, Aetna, Inc., and Mercer LLC. Their employees earn $63K on average.

Popular Skills for Actuarial Analyst


Actuarial Analysts seem to exploit a large range of skills on the job. Most notably, skills in Statistical Analysis, SAS, R, and VBA are correlated to pay that is above average. Skills that pay less than market rate include Oral / Verbal Communication and Financial Analysis. It is often found that people who know Data Analysis are also skilled in SAS.

Pay by Experience Level for Actuarial Analyst

Pay by Experience for an Actuarial Analyst has a positive trend. An entry-level Actuarial Analyst with less than 5 years of experience can expect to earn an average total compensation of $62,000 based on 514 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. An Actuarial Analyst with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $77,000 based on 46 salaries. An experienced Actuarial Analyst which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $76,000 based on 14 salaries. An Actuarial Analyst with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $87,000 based on 7 salaries.

Pay Difference by Location

National Average: $63,419

Larger city markers indicate a job is popular in that location.

For those looking to make money, Actuarial Analysts in Los Angeles enjoy an exceptional pay rate, 14 percent above the national average. Actuarial Analysts can also look forward to large paychecks in cities like San Francisco (+11 percent), Hartford (+10 percent), Seattle (+8 percent), and Philadelphia (+8 percent). The smallest paychecks in the market, 19 percent south of the national average, can be found in Montpelier. A couple other locations with smaller-than-average paychecks include Omaha (16 percent lower) and Madison (8 percent lower).

Actuarial Analyst Reviews

Q: What is it like working as an Actuarial Analyst?

Actuarial Analyst in New York:
"Fast career progression, intellectually stimulating."
Pros: I like having to use "actuarial judgment" to make decisions when there is no right answer, using limited data. I have to forecast future losses for large companies buying insurance, and it's impossible to be 100% certain that you're getting the right answer. I'm making real decisions that have an impact very early on in my career. I also like getting to work with non-actuaries and other departments. My salary has gone up around 50% in my first couple of years as an actuarial analyst, and my job responsibilities have increased too.
Cons: There is not always a lot of geographic flexibility - many jobs are concentrated in a few large cities, and often they are at insurance companies' headquarters. Sometimes the job might require a lot of updating spreadsheets and data cleansing, which can be boring and monotonous. Staying at one company, rather than switching companies, can hinder your career growth. Companies are more likely to pay more for external hires rather than promote within.

Related Job Salaries

Key Stats for Actuarial Analyst

Gender

Female
36 %
Male
64 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 60 votes.
Less than 1 year
28%
1-4 years
60%
5-9 years
8%
10-19 years
2%
20 years or more
2%
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Location:
Years in Fields/Career:
United States (change)

Experience Affects Actuarial Analyst Salaries

Late-Career
▲37%

▲22%

▲20%

National Average
$63,000

▼2%

Skills That Affect Actuarial Analyst Salaries

Statistical Analysis
▲9%

SAS
▲5%

R
▲2%

SQL
▲1%

VBA
▲1%


National Average
$63,000

Microsoft Excel
▼1%

Data Analysis
▼1%


Project Management
▼2%

Financial Analysis
▼5%

Oral / Verbal Communication
▼7%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 60 votes.

Gender

Female
36 %
Male
64 %

Years of Experience

Less than 1 year
28%
1-4 years
60%
5-9 years
8%
10-19 years
2%
20 years or more
2%

Common Health Benefits

medical benefits
Medical: 91%
dental benefits
Dental: 81%
vision benefits
Vision: 70%
no benefits
None: 7%
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