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Actuary Salary (United States)

For Actuarys, late-career workers enjoy the highest paychecks — around $143K — relative to the national average of $80K per year. Respondents with less than five years' experience take home $64K on average. In contrast, those who have been around for five to 10 years earn a noticeably higher average of $100K. Between one and two decades on the job, average salaries pass the six-figure mark at around $125K. Actuarys who surpass 20 years on the job report pay that isn't as high as one would expect; the median compensation for this crowd sits around $143K. The data for this snapshot was collected from individuals who took PayScale's salary survey.
Actuary Salary (?
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.
)
$50,141 - $130,997
(Median)
50K
80K
100K
130K
MEDIAN: $80,360
10%
50%
75%
90%
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Actuary Salary (?
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.
)
$14.73 - $51.99
(Median)
15
19
25
36
52
MEDIAN: $24.00
10%
25%
50%
75%
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
$50,141 - $130,997  
   
Bonus
$970 - $24,289  
Profit Sharing
$283.50 - $16,000  
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).
)
$50,335 - $150,966  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 1,406
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
$14.73 - $51.99  
   
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
$970 - $24,289  
   
Profit Sharing
$283.50 - $16,000  
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).
)
$50,335 - $150,966  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 41
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Location:
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Job Description for Actuary

The Actuary will routinely use critical thinking, problem solving and strong analytical skills to aid in or drive decision making. This analysis is often related to the analyses of statistical data with the intention to create probability tables that are used to assess risk and liability for future benefits. Strong communication skills and the ability to explain highly technical information to a broad range of audience members are highly desired skills among actuaries.
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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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location

Popular Employer Salaries for Actuary

Towers Watson, Mercer LLC, Humana, Inc., Milliman, Incorporated, and American International Group, Inc. (AIG) are leaders in the field that employ a large number of Actuarys. Actuarys seeking a sizable paycheck can earn the most at Milliman, Incorporated, where the median salary comes to $109K, though the large pay difference between employees at the top ($69K) and those starting out ($293K) creates a rather diverse pay scale.
Mercer LLC offers the lowest pay, with a median salary of just $77K. The pay scale doesn't vary widely, either; compensation ranges from $58K to $148K.

Popular Skills for Actuary

Survey results suggest that Actuarys use a fairly large toolkit of professional skills. Most notably, facility with Financial Modeling, Pricing, and Financial Analysis are correlated to pay that is significantly above average, leading to increases of 26 percent, 20 percent, and 17 percent, respectively. The majority of those who know Data Analysis also know Financial Modeling.

Pay by Experience Level for Actuary

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

Pay Difference By Location

Hartford
up arrow 31%
Des Moines
up arrow 29%
Minneapolis
up arrow 22%
up arrow 16%
Dallas
up arrow 15%
up arrow 11%
up arrow 6%
up arrow 4%
National Average
$84,000
Atlanta
up arrow 5%
Houston
up arrow 5%
Louisville
up arrow 8%
Larger circles over a city indicate a job is popular in that location.
Hartford offers some of the highest pay in the country for Actuarys, 31 percent above the national average. Actuarys will also find cushy salaries in Des Moines (+29 percent), San Francisco (+28 percent), Minneapolis (+22 percent), and Seattle (+16 percent). Louisville is home to the smallest salaries in the field, lagging the national average by 8 percent. Two other places where employers salaries are below the median are Atlanta and Houston (5 percent lower).

Related Job Salaries

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Experience Affects Actuary Salaries

National Average
$84,000

Skills That Affect Actuary Salaries

up arrow 20%
Statistical Analysis
up arrow 7%
National Average
$84,000
SAS
up arrow 1%

Job Satisfaction

Extremely satisfied Image
Extremely satisfied
Rated 5 out of 5 based on 247 votes.

Gender

Female
26%
female alumni
 
Male
74%
male alumni

Years of Experience

Less than 1 year
15%
1-4 years
30%
5-9 years
28%
10-19 years
18%
20 years or more
10%

Common Health Benefits

medical benefits Medical: 91% dental benefits Dental: 79%
vision benefits Vision: 62% employee benefits None: 7%