Actuary Salary

Actuaries in the United States can expect to earn an average of $82K annually. Cash earnings for Actuaries — including $25K in bonuses and $16K in profit sharing proceeds near the top of the pay scale — generally stretch from $50K to $152K depending on individual performance. Earnings for this group are mostly affected by experience level, followed by the specific employer and location. Making up 75 percent of those who took the survey, male Actuaries greatly outnumber their female counterparts. Nearly all report receiving medical coverage from their employers and a strong majority collect dental insurance. Job satisfaction is reported as high by the vast majority of workers. This overview is based on answers to PayScale's salary questionnaire.
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$50,217 - $134,789
(Median)
$50K
$82K
$130K
MEDIAN: $81,578
10%
50%
90%

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$16.60 - $51.02
(Median)
$17
$27
$51
MEDIAN: $27.00
10%
50%
90%

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National Salary Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$60K$120K$180K
Salary
$50,217 - $134,789  
   
Bonus
$514 - $24,845  
Profit Sharing
$0.00 - $15,781  
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).
)
$50,435 - $152,488  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 1,497
National Hourly Rate Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$30$60$90
Hourly Rate
$16.60 - $51.02  
   
Overtime
$0.00 - $62.63  
National Annualized Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$60K$120K$180K
Bonus
$514 - $24,845  
   
Profit Sharing
$0.00 - $15,781  
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).
)
$50,435 - $152,488  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 47
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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


Leading companies who hire large numbers of Actuaries include Towers Watson, Humana, Inc., Milliman, Incorporated, Mercer LLC, and Metropolitan Life Insurance Company (MetLife). Actuaries seeking a sizable paycheck can earn the most at Metropolitan Life Insurance Company (MetLife), where the average salary comes to $135K. ACE Group, AON Corporation, and American International Group, Inc. (AIG) also offer top salaries for Actuaries. Workers at these firms can expect to earn about $120K, $108K, and $100K, respectively.

Humana, Inc. offers the lowest pay in the field with a median salary of just $88K. There's also little variation in pay at the company, with pay ranging from $72K to $117K. Others at the bottom of the scale for this job include Towers Watson at $92K, and Mercer LLC where $95K is the norm, but it is worth noting that some Actuaries there earn up to $176K.

Popular Skills for Actuary


Survey results suggest that Actuaries put a wide range of professional skills to use. Lucky workers who know Financial Modeling can expect a significant pay bump, scoring salaries 20 percent above average. Pricing and Financial Analysis are also correlated to pay that is above average, with increases between 12 percent and 20 percent. Most people skilled in Microsoft Excel are similarly competent in Financial Modeling and Financial Analysis. Most people skilled in Data Analysis are similarly competent in Financial Analysis.

Pay by Experience Level for Actuary

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


Experience is an important factor influencing the compensation of Actuaries. Salaries of relatively inexperienced workers fall in the neighborhood of $65K, but folks who have racked up five to 10 years see a notably higher median of $103K. Actuaries claiming one to two decades of experience make an estimated median of $128K. Respondents who claim more than 20 years of experience may encounter pay that doesn't quite reflect their extensive experience; these veterans report a median income of around $142K.

Pay Difference by Location

National Average: $85,310

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

For Actuaries, working in the bustling city of Des Moines has its advantages, including an above-average pay rate. Actuaries can also look forward to large paychecks in cities like Hartford (+27 percent), San Francisco (+22 percent), Philadelphia (+17 percent), and Minneapolis (+16 percent). Atlanta is the lowest-paying area, 14 percent south of the national average.

Related Job Salaries

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Experience Affects Actuary Salaries




National Average
$85,000


Skills That Affect Actuary Salaries


up arrow 20%


SAS
up arrow 6%

Microsoft Excel
up arrow 3%

Microsoft Access
up arrow 3%

Data Analysis
up arrow 2%

National Average
$85,000

Statistical Analysis
up arrow 1%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 179 votes.

Gender

Female
25 %
Male
75 %

Years of Experience

Less than 1 year
16%
1-4 years
33%
5-9 years
25%
10-19 years
16%
20 years or more
10%

Common Health Benefits

medical benefits
Medical: 92%
dental benefits
Dental: 79%
medical benefits
Vision: 63%
dental benefits
None: 7%
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