Actuary Salary

Median pay for Actuaries in the United States lies in the neighborhood of $81K annually. Overall cash earnings for Actuaries stretch from $50K on the lower end to $157K near the top, and the heftiest packages can encompass around $30K from bonuses and $20K from profit sharing. The most important factor affecting compensation for this group is the specific employer, followed by career length and location. Generally, women make up less than a third of all Actuaries who answered the questionnnaire. Medical benefits are awarded to nearly all, and a strong majority earn dental coverage. The majority of workers are highly satisfied with their job. This overview is based on answers to PayScale's salary questionnaire.
Read More
$50,000 - $142,758
$50K
$81K
$140K
MEDIAN: $81,159
10%
50%
90%

Add this chart to your site: 640px    300px

$15.48 - $46.19
$15
$25
$46
MEDIAN: $24.93
10%
50%
90%

Add this chart to your site: 640px    300px

National Salary Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$60K$120K$180K
Salary
$50,000 - $142,758  
   
Bonus
$1,762 - $29,763  
Profit Sharing
$0.00 - $19,727  
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).
)
$49,875 - $157,349  
Country: United States | Currency: USD | Updated: 25 Mar 2017 | Individuals Reporting: 895
© PayScale, Inc. @ www.payscale.com
National Hourly Rate Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$30$60$90
Hourly Rate
$15.48 - $46.19  
   
Overtime
$8.75 - $90.00  
National Annualized Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$60K$120K$180K
Bonus
$1,762 - $29,763  
   
Profit Sharing
$0.00 - $19,727  
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).
)
$49,875 - $157,349  
Country: United States | Currency: USD | Updated: 25 Mar 2017 | Individuals Reporting: 44
© PayScale, Inc. @ www.payscale.com

Find Out Exactly What You Should Be Paid

United States (change)

Employers: Start Here »

Job Description for Actuary

Actuaries play a key role in insurance companies by serving as analysts who help determine whether the company should issue an insurance policy and what the premium for that policy should be. They use a great deal of statistical analysis in their work, as they examine huge amounts of data related to costing and trends. Insurance companies must always maintain their financial health, and the role of the actuary is to manage risk in the delicate balance between issuing policies (and the costs paid for them) and the exposure to financial risk for the company.

Read More...

Actuary Tasks

  • Analyze statistical data, such as mortality, accident, sickness, disability, and retirement rates and construct probability tables to forecast risk and liability for payment of future benefits.
  • May ascertain premium rates required and cash reserves necessary to ensure payment of future benefits.

Actuary Job Listings

Search for more jobs:

Popular Employer Salaries for Actuary


Leading companies who hire large numbers of Actuaries include Humana, Inc., Metropolitan Life Insurance Company (MetLife), American International Group, Inc. (AIG), New York Life Insurance Company, and Towers Watson. The biggest paychecks can be found at Towers Watson — the median salary there is $156K. Soaring salaries can also be found at Prudential, Metropolitan Life Insurance Company (MetLife), and ACE Group, where earnings of $137K, $135K, or $120K are standard for Actuaries.

A few other companies with smaller-than-average paychecks include Milliman, Incorporated ($85K), New York Life Insurance Company ($94K), and American International Group, Inc. (AIG) ($100K).

Popular Skills for Actuary


Survey results suggest that Actuaries put a wide range of professional skills to use. Most notably, facility with Pricing, Financial Modeling, and SAS are correlated to pay that is significantly above average, leading to increases of 35 percent, 28 percent, and 19 percent, respectively. Most people familiar with Microsoft Excel also know Financial Modeling and Financial Analysis. Those familiar with Data Analysis also tend to know Financial Analysis and Financial Modeling.

Pay by Experience Level for Actuary

Median of all compensation (including tips, bonus, and overtime) by years of experience.


In general, experience and pay appear to be strongly linked; those with more experience usually bring in higher incomes. Whereas the median salary for inexperienced employees is approximately $65K, incomes in the five-to-10 year group are significantly higher, averaging to the comfortable six-figure sum of $111K. For Actuaries, 10 to 20 years of experience on the job amounts to an average salary of $135K. Veterans who have surpassed the 20-year mark may make only slightly more than those who are navigating the mid-career stage; the more senior group reports median earnings of around $148K.

Pay Difference by Location

National Average: $82,406

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

Surpassing the national average by 43 percent, Actuaries in Portland receive some of the highest pay in the country. Actuaries can also look forward to large paychecks in cities like Seattle (+33 percent), Richmond (+23 percent), Chicago (+22 percent), and Philadelphia (+22 percent). Dallas is home to the smallest salaries in the field, lagging the national average by 14 percent. Employers pay around 5 percent less in Nashville and 3 percent less in Cleveland, below-median salaries for those in this field.

Related Job Salaries

Key Stats for Actuary

Gender

Female
28 %
Male
72 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 64 votes.
Less than 1 year
20%
1-4 years
36%
5-9 years
21%
10-19 years
16%
20 years or more
8%
Location:
Years in Fields/Career:
United States (change)

Experience Affects Actuary Salaries

▲80%

▲64%

▲34%

National Average
$82,000

▼21%

Skills That Affect Actuary Salaries

▲35%


SAS
▲19%


Data Modeling
▲11%



SQL
▲7%


National Average
$82,000


Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 64 votes.

Gender

Female
28 %
Male
72 %

Years of Experience

Less than 1 year
20%
1-4 years
36%
5-9 years
21%
10-19 years
16%
20 years or more
8%

Common Health Benefits

medical benefits
Medical: 92%
dental benefits
Dental: 77%
vision benefits
Vision: 67%
dental benefits
None: 7%
ADVERTISEMENT