Actuary Salary

Median pay for Actuaries in the United States is around $81K per year. Pay generally varies between $50K and $152K per year. Total cash compensation for Actuaries runs from $50K to $152K depending on bonuses that can occasionally exceed $25K and profit sharing that can reach almost $20K. Earnings for this group are mostly affected by career duration, followed by the particular city and the specific company. Medical benefits are awarded to almost all, and a large number earn dental coverage. Making up 74 percent of those who took the survey, male Actuaries greatly outnumber their female counterparts. The majority of workers are highly satisfied with their job. This report is based on responses to the PayScale salary survey.
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$50,233 - $133,548
(Median)
$50K
$81K
$130K
MEDIAN: $80,876
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
$50,233 - $133,548  
   
Bonus
$721 - $24,521  
Profit Sharing
$0.00 - $20,000  
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).
)
$50,395 - $152,387  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 1,374
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
$721 - $24,521  
   
Profit Sharing
$0.00 - $20,000  
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).
)
$50,395 - $152,387  
Country: United States | Currency: USD | Updated: 20 Jun 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


Towers Watson, Mercer LLC, Humana, Inc., Milliman, Incorporated, and Metropolitan Life Insurance Company (MetLife) are top-notch employers for Actuaries in this area. Metropolitan Life Insurance Company (MetLife) offers the highest compensation with a median salary of $135K. Actuaries can also look forward to large paychecks at ACE Group ($120K), AON Corporation ($104K), and American International Group, Inc. (AIG) ($100K).

Bringing up the rear, Milliman, Incorporated's median pay of $88K is the lowest in town; however, employee salaries widely range, with some making up to $239K. Other low-paying employers include Humana, Inc. at $88K and Towers Watson at $93K, though some Actuaries there earn up to $196K.

Popular Skills for Actuary


Actuaries seem to require a number of specific skills. 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. Skills that seem to negatively impact pay include Statistical Analysis. Most people experienced in Microsoft Excel also know Financial Modeling and Financial Analysis. Those proficient in Data Analysis are, more often than not, also skilled in Financial Analysis.

Pay by Experience Level for Actuary

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


For many Actuaries, more experience generally translates to higher pay. The average worker who claims fewer than five years of experience earns around $64K. In contrast, however, individuals who report five to 10 years in this occupation see a much larger median of $101K. People with 10 to 20 years of experience make an average of about $126K in this role. Actuaries who have stuck around for more than two decades see earnings that are only slightly higher than those of folks who have worked for 10 to 20 years; the more senior group makes around $140K on average.

Pay Difference by Location


Surpassing the national average by 38 percent, Actuaries in Des Moines receive some of the highest pay in the country. Actuaries will also find cushy salaries in Hartford (+35 percent), San Francisco (+28 percent), Minneapolis (+18 percent), and Dallas (+16 percent). Actuaries in Atlanta report much lower salaries than the rest of the country — 22 percent below the national average — proving that residence is a major factor in overall pay.

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Experience Affects Actuary Salaries




National Average
$85,000


Skills That Affect Actuary Salaries


up arrow 17%




Microsoft Excel
up arrow 4%

SAS
up arrow 2%

National Average
$85,000

Statistical Analysis
up arrow 8%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 201 votes.

Gender

Female
26 %
Male
74 %

Years of Experience

Less than 1 year
15%
1-4 years
32%
5-9 years
26%
10-19 years
17%
20 years or more
10%

Common Health Benefits

medical benefits Medical: 92% dental benefits Dental: 80%
vision benefits Vision: 64% employee benefits None: 7%
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