Actuary Salary

Actuaries in the United States can expect to earn an average of $81K annually. Pay ranges from $50K on the low end to $152K per year on the high end. In the world of Actuaries, total cash compensation can vary between $50K and $152K. Each package generally includes bonuses and profit sharing proceeds, and in exceptional cases, those amounts can reach heights of $24K and $16K, respectively. Career length is the main element affecting pay for this group — geography and the specific company are driving factors as well. Most workers in this position report high levels of job satisfaction. Medical benefits are awarded to nearly all, and most earn dental coverage. Male Actuaries are far more common among survey respondents than their female counterparts, who typically comprise less than one-third of the field. The information for this snapshot was generated by responses to the PayScale salary survey.
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$50,251 - $132,472
(Median)
$50K
$81K
$130K
MEDIAN: $81,252
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
$50,251 - $132,472  
   
Bonus
$789 - $24,327  
Profit Sharing
$0.00 - $16,409  
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).
)
$50,433 - $151,838  
Country: United States | Currency: USD | Updated: 1 Apr 2015 | Individuals Reporting: 1,388
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
$789 - $24,327  
   
Profit Sharing
$0.00 - $16,409  
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).
)
$50,433 - $151,838  
Country: United States | Currency: USD | Updated: 1 Apr 2015 | Individuals Reporting: 42

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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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Popular Employer Salaries for Actuary


Leading companies who hire large numbers of Actuaries include Towers Watson, Humana, Inc., Mercer LLC, Milliman, Incorporated, and American International Group, Inc. (AIG). Actuaries flock to Metropolitan Life Insurance Company (MetLife) for generous paychecks, where average earnings of $120K lead the pack in compensation.

Humana, Inc. offers the lowest pay in the field with a median salary of just $87K. There's also little variation in pay at the company, with pay ranging from $69K to $118K.

Popular Skills for Actuary


Survey results suggest that Actuaries 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 23 percent, 16 percent, and 13 percent, respectively. Skills that seem to negatively impact pay include Statistical Analysis. Those who learned Microsoft Excel also tend to know Financial Modeling and Financial Analysis. Those educated in Data Analysis tend to be well versed in 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. In this occupation, salaries for the relatively untested average out to $64K, but folks in the five-to-10 year range enjoy a much heftier median of $101K. Actuaries who work for 10 to 20 years in their occupation tend to earn about $126K. Actuaries with more than 20 years of experience report incomes that are only modestly higher; the median for these old hands hovers around $141K.

Pay Difference by Location


For those looking to make money, Actuaries in San Francisco enjoy an exceptional pay rate, 29 percent above the national average. Actuaries can also look forward to large paychecks in cities like Hartford (+29 percent), Des Moines (+27 percent), Minneapolis (+19 percent), and Dallas (+17 percent). Falling short of the national average by 18 percent, the area with the worst salaries is Atlanta. Below-median salaries also turn up in Houston and Louisville (6 percent lower and 2 percent lower, respectively).

Related Job Salaries

United States (change)

Experience Affects Actuary Salaries




National Average
$86,000


Skills That Affect Actuary Salaries


up arrow 16%



Data Analysis
up arrow 4%

Microsoft Excel
up arrow 3%

SAS
up arrow 1%

National Average
$86,000

Statistical Analysis
up arrow 9%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 221 votes.

Gender

Female
27 %
Male
73 %

Years of Experience

Less than 1 year
15%
1-4 years
31%
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: 63% employee benefits None: 7%