What is the Salary of an Actuary?

While many people may only have a vague idea of the day-to-day tasks performed by an actuary, it's a job that frequently appears on yearly "best jobs" lists thanks to its stable career outlook, challenging workload, and generous compensation. The Actuary Average Salary by Years Experience chart shows that even with less than a year of experience, actuary salary is around $50,000 a year, and over the course of a 20-year career the average salary of an actuary more than doubles. But other than waiting it out, is there anything else that can positively affect actuary salaries? The answers can be found in PayScale's actuary salary data. You can research actuary salary data by location, education, industry, and much more - actuaries know that the more data you have to work with, the better able you will be to make decisions.

Actuary Salary Questions

Are actuary salaries higher in the public or private sector? What is the salary of an actuary working with a consultancy? In what city is actuary average salary the highest? When it comes to actuary salary, is it better to be working at a large corporation or a small firm?

Actuary Salary Data

Researching median Actuary Salary by Employer Type, we can see that actuary salaries are highest for those working for the government: this is one case where public-sector work doesn't have to be its own reward. Drilling down into Salary of an Actuary by Industry shows that the actuary average salary when working for a consultancy is in the $92,000 range. The Actuary Salary by City chart shows that New York offers top actuary salaries, but be warned: average commute time for actuaries in New York is also the highest at a whopping 54 minutes. There are a lot of factors that go into choosing a large company or small business for your place of work - for many people, salary is the least of their concerns when it comes to this decision - but it's worth noting that the highest Actuary Salary by Company Size is for companies with 1-9 employees. If the small, intimate office situation appeals to you, this is a big incentive to go that route. However, if the thought of sharing your workday with just 8 other people fills you with dread, chances are that the increase in salary won't be worth it.

Actuary Average Salary

Find out why asking "what are median actuary salaries" is a better question than "what are actuary average salaries" in the Ask Dr. Salary post, "Why is Median better than Mean for a Typical Salary?"