Actuary Salary

Earnings for Actuaries in the United States come in at around $83K annually on average. Total incomes of Actuaries incorporate potential for, in a few cases, more than $29K from bonuses and close to $20K from profit sharing; these performance components cause packages to range between $50K and $160K. The particular firm is the biggest factor affecting pay for this group, followed by tenure and location. Most workers in this position report high levels of job satisfaction. Making up 70 percent of those who took the survey, male Actuaries greatly outnumber their female counterparts. Medical benefits are awarded to nearly all, and a strong majority earn dental coverage. The information for this rundown comes from respondents who completed PayScale's salary questionnaire.
Read More
$50,116 - $144,252
$50K
$83K
$140K
MEDIAN: $82,858
10%
50%
90%

Add this chart to your site: 640px    300px

$16.29 - $46.32
$16
$25
$46
MEDIAN: $25.05
10%
50%
90%

Add this chart to your site: 640px    300px

$0$159K
Salary $50,116 - $144,252
Bonus $1,800 - $28,858
Profit Sharing $0.00 - $19,797
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).
)
$49,911 - $159,984
  • Country: United States
  • Currency: USD
  • Updated: 11 Jul 2017
  • Individuals Reporting: 904
Hourly Data $0$76
Hourly Rate $16.29 - $46.32
Overtime $15.66 - $76.60
Annual Data $0$159K
Bonus $1,800 - $28,858
Profit Sharing $0.00 - $19,797
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).
)
$49,911 - $159,984
  • Country: United States
  • Currency: USD
  • Updated: 11 Jul 2017
  • Individuals Reporting: 52

Find Out Exactly What You Should Be Paid

United States (change)

Employers: Start Here »

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.

Read More...

Actuary Tasks

  • 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.
  • May ascertain premium rates required and cash reserves necessary to ensure payment of future benefits.

Actuary Job Listings

Popular Employer Salaries for Actuary


Well-known firms with a reputation for hiring numerous Actuaries include Humana, Inc., Metropolitan Life Insurance Company (MetLife), American International Group, Inc. (AIG), New York Life Insurance Company, and Towers Watson. Actuaries seeking a sizable paycheck can earn the most at Towers Watson, where the average salary comes to $156K. Other leaders in compensation levels are Prudential at $137K, Metropolitan Life Insurance Company (MetLife) at $135K, and ACE Group, where Actuaries annually earn $120K.

Workers at Milliman, Incorporated, New York Life Insurance Company, and American International Group, Inc. (AIG) also face smaller salaries than the rest of the field — average earnings for these employers come to $85K, $94K, and $100K respectively.

Popular Skills for Actuary


Actuaries report using a wide range of professional skills. Most notably, facility with Pricing, Financial Modeling, and SAS are correlated to pay that is significantly above average, leading to increases of 32 percent, 26 percent, and 17 percent, respectively. At the other end of the pay range are skills like Microsoft Access. Most people experienced in Microsoft Excel also know Financial Modeling and Financial Analysis. Most people who know Data Analysis also know Financial Analysis and Financial Modeling.

Pay by Experience Level for Actuary

Pay by Experience for an Actuary has a positive trend. An entry-level Actuary with less than 5 years of experience can expect to earn an average total compensation of $65,000 based on 599 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. An Actuary with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $111,000 based on 248 salaries. An experienced Actuary which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $135,000 based on 175 salaries. An Actuary with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $148,000 based on 76 salaries.

Pay Difference by Location

National Average: $83,894

Larger city markers indicate a job is popular in that location.

For Actuaries, busy Portland offers a higher-than-average pay rate, 40 percent above the national average. Actuaries can also look forward to large paychecks in cities like Seattle (+31 percent), Richmond (+21 percent), Chicago (+20 percent), and Philadelphia (+20 percent). Those in the field find the lowest salaries in Dallas, 16 percent below the national average. Employers also pay below the national average in Nashville (7 percent lower) and Cleveland (5 percent lower).

Related Job Salaries

Key Stats for Actuary

Gender

Female
30 %
Male
70 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 68 votes.
Less than 1 year
20%
1-4 years
35%
5-9 years
22%
10-19 years
16%
20 years or more
7%
ADVERTISEMENT
Location:
Years in Fields/Career:
United States (change)

Experience Affects Actuary Salaries

▲76%

▲61%

▲32%

National Average
$84,000

▼22%

Skills That Affect Actuary Salaries

▲32%


SAS
▲17%


Data Modeling
▲9%



SQL
▲5%

National Average
$84,000



Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 68 votes.

Gender

Female
30 %
Male
70 %

Years of Experience

Less than 1 year
20%
1-4 years
35%
5-9 years
22%
10-19 years
16%
20 years or more
7%

Common Health Benefits

medical benefits
Medical: 90%
dental benefits
Dental: 75%
vision benefits
Vision: 65%
no benefits
None: 8%
ADVERTISEMENT