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Actuary Salary

Earnings for Actuaries in the United States come in at around $81K annually on average. Compensation ranges between $50K and $152K per year. Total cash earnings of Actuaries range from $50K on the low end to $152K on the high end; the final amount can include bonuses and profit sharing proceeds that occasionally exceed $24K and $20K, respectively. The most important factor affecting compensation for this group is career length, followed by geography and the specific company. The majority of workers are highly satisfied with their job. Most Actuaries survey respondents are men (75 percent). Medical benefits are awarded to nearly all, and most earn dental coverage. The figures in this rundown are based on the results of PayScale's salary questionnaire.
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$50,216 - $133,032
(Median)
$50K
$81K
$130K
MEDIAN: $80,853
10%
50%
90%

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$14.79 - $51.80
(Median)
$15
$24
$52
MEDIAN: $24.00
10%
50%
90%

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National Salary Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$60K$120K$180K
Salary
$50,216 - $133,032  
   
Bonus
$736 - $24,390  
Profit Sharing
$0.00 - $19,797  
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).
)
$50,420 - $151,855  
Country: United States | Currency: USD | Updated: 16 May 2015 | Individuals Reporting: 1,395
National Hourly Rate Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$30$60$90
Hourly Rate
$14.79 - $51.80  
   
Overtime
$0.00 - $63.00  
National Annualized Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$60K$120K$180K
Bonus
$736 - $24,390  
   
Profit Sharing
$0.00 - $19,797  
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).
)
$50,420 - $151,855  
Country: United States | Currency: USD | Updated: 16 May 2015 | Individuals Reporting: 42
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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.

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Actuary Tasks

  • May ascertain premium rates required and cash reserves necessary to ensure payment of future benefits.
  • 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.

Actuary Job Listings

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Popular Employer Salaries for Actuary


Well-known firms with a reputation for hiring numerous Actuaries include Towers Watson, Mercer LLC, Humana, Inc., Milliman, Incorporated, and American International Group, Inc. (AIG). ACE Group leads the field in terms of pay, with a median salary of $120K. Actuaries will also find cushy salaries at Metropolitan Life Insurance Company (MetLife) (+$120K), AON Corporation (+$104K), and American International Group, Inc. (AIG) (+$100K).

Not only do salaries lack room to grow — pay ranges from $71K to just $119K — but Humana, Inc. offers the lowest pay in town to boot, with a median paycheck of $88K. Others at the bottom of the scale for this job include Milliman, Incorporated at $90K, and Towers Watson where $93K is the norm, but it is worth noting that some Actuaries there earn up to $196K.

Popular Skills for Actuary


Actuaries generally report applying a varied skill set to their work. Most notably, facility with Financial Modeling, Pricing, and Financial Analysis are correlated to pay that is significantly above average, leading to increases of 22 percent, 17 percent, and 15 percent, respectively. At the other end of the pay range are skills like Statistical Analysis. Skill sets containing Microsoft Excel also tend to include Financial Modeling and Financial Analysis. Most people familiar with Data Analysis also know Financial Analysis.

Pay by Experience Level for Actuary

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


Actuaries who reported more years of relevant experience also reported higher earnings. Individuals with fewer than five years of experience earn $65K on average, but those in the five-to-10 year group see a six-figure median of $101K. For Actuaries, 10 to 20 years of experience on the job amounts to an average salary of $126K. Individuals who have achieved more than 20 years of experience don't seem to earn much more than people who have 10 to 20 years under their belts; the more senior group reports an average income of $141K.

Pay Difference by Location


For those looking to make money, Actuaries in Des Moines enjoy an exceptional pay rate, 39 percent above the national average. Actuaries can also look forward to large paychecks in cities like San Francisco (+31 percent), Hartford (+28 percent), Minneapolis (+19 percent), and Seattle (+17 percent). Actuaries in Atlanta earn salaries far below the national average by 23 percent, proving that geography overwhelmingly affects the pay scale for those in this field.

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Experience Affects Actuary Salaries




National Average
$85,000


Skills That Affect Actuary Salaries


up arrow 17%



Data Analysis
up arrow 4%

Microsoft Excel
up arrow 3%

SAS
up arrow 2%

National Average
$85,000

Statistical Analysis
up arrow 8%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 213 votes.

Gender

Female
25 %
Male
75 %

Years of Experience

Less than 1 year
15%
1-4 years
32%
5-9 years
26%
10-19 years
18%
20 years or more
10%

Common Health Benefits

medical benefits Medical: 91% dental benefits Dental: 80%
vision benefits Vision: 64% employee benefits None: 7%
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