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Actuary Salary

Earnings for Actuaries in the United States come in at around $81K per year on average. Compensation ranges between $50K and $152K per year. Overall cash earnings for Actuaries stretch from $50K on the lower end to $152K near the top, and the heftiest packages can encompass around $24K from bonuses and $20K from profit sharing. While the particular city and the specific company impact pay for this group, career duration is the most influential factor. Most Actuaries report high levels of job satisfaction. Making up 74 percent of those who took the survey, male Actuaries greatly outnumber their female counterparts. Medical benefits are awarded to almost all, and a large number earn dental coverage. Respondents to the PayScale salary survey provided the data for this report.
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$50,300 - $133,229
(Median)
$50K
$81K
$130K
MEDIAN: $81,253
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
$50,300 - $133,229  
   
Bonus
$740 - $24,464  
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).
)
$50,497 - $152,170  
Country: United States | Currency: USD | Updated: 2 May 2015 | Individuals Reporting: 1,377
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
$740 - $24,464  
   
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).
)
$50,497 - $152,170  
Country: United States | Currency: USD | Updated: 2 May 2015 | Individuals Reporting: 42

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United States (change)


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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 American International Group, Inc. (AIG) are top-notch employers for Actuaries in this area. Metropolitan Life Insurance Company (MetLife) leads the field in terms of pay, with a median salary of $120K.

Humana, Inc. offers the least pay with a median salary of $88K; furthermore, salaries there max out at only $119K.

Popular Skills for Actuary


Actuaries report using a wide range 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 21 percent, 17 percent, and 14 percent, respectively. Skills that are correlated to lower pay, on the other hand, include Statistical Analysis. The majority of those who know Data Analysis also know Financial Analysis. Most people experienced in Microsoft Excel also know Financial Modeling and 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. Although individuals who have less than five years' experience earn $65K on average, people with five to 10 years benefit from a notably larger average of $101K. On average, Actuaries make $127K following one to two decades on the job. More than 20 years of experience mean a somewhat bigger median paycheck of $140K, but it's not much more than what less experienced people make.

Pay Difference by Location


For Actuaries, busy Des Moines offers a higher-than-average pay rate, 36 percent above the national average. Actuaries will also find cushy salaries in San Francisco (+30 percent), Hartford (+27 percent), Minneapolis (+18 percent), and Dallas (+17 percent). The lowest-paying market is Atlanta, which sits 22 percent below the national average, proving that location is a significant contributor to overall pay.

Related Job Salaries

United States (change)

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
0%

National Average
$85,000

Statistical Analysis
up arrow 9%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 216 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
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%
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