Actuaries in the United States can expect to earn an average of $81K per year. In the world of Actuaries, overall cash allowance can occasionally include more than $29K from bonuses and, in some exceptional cases, $20K from profit sharing, causing incomes to vary widely between $50K and $155K. This group's pay is mainly influenced by the specific employer, followed by years of experience and geography. Male Actuaries are far more common among survey respondents than their female counterparts, who typically comprise less than one-third of the field. Almost all enjoy medical while a fair number get dental coverage. Vision coverage is also available to more than half. Most Actuaries report high levels of job satisfaction. The information for this snapshot was generated by responses to the PayScale salary survey.
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$49,951 - $141,971
(Median)
$50K
$81K
$140K
MEDIAN: $81,482
10%
50%
90%

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$15.89 - $45.39
(Median)
$16
$24
$45
MEDIAN: $24.00
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
$49,951 - $141,971  
   
Bonus
$1,529 - $29,274  
Profit Sharing
$0.00 - $19,518  
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).
)
$49,853 - $155,057  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 927
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
$15.89 - $45.39  
   
Overtime
$1.80 - $51.72  
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
$1,529 - $29,274  
   
Profit Sharing
$0.00 - $19,518  
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).
)
$49,853 - $155,057  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 38
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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


Actuaries fill the offices of leading firms Humana, Inc., Metropolitan Life Insurance Company (MetLife), Towers Watson, Mercer LLC, and American International Group, Inc. (AIG). Towers Watson attracts talent by shelling out the biggest paychecks in the area — the median in that office is $164K. Actuaries can also look forward to large paychecks at Prudential ($139K), Metropolitan Life Insurance Company (MetLife) ($135K), and ACE Group ($120K).

Milliman, Incorporated, New York Life Insurance Company, and Mercer LLC are a few other employers known for handing out relatively lightweight salaries ($85K, $94K, and $95K respectively).

Popular Skills for Actuary


Actuaries report using a pretty varied skill set on the job. Most notably, facility with Pricing, Financial Modeling, and SAS are correlated to pay that is significantly above average, leading to increases of 30 percent, 26 percent, and 20 percent, respectively. Most people who know Data Analysis also know Financial Analysis and Financial Modeling. Those who learned Microsoft Excel also tend to 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.


Experience and income seem to be closely related; in general, the survey respondents who had worked for more years reported higher incomes. Although inexperienced employees take home approximately $65K, those who have five to 10 years under their belts benefit from a six-figure median of $112K. Actuaries bring in $133K after working for 10 to 20 years. More than 20 years of experience mean a somewhat bigger median paycheck of $144K, but it's not much more than what less experienced people make.

Pay Difference by Location

National Average: $83,059

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

For Actuaries, San Francisco provides a pay rate that is 29 percent greater than the national average. Actuaries will also find cushy salaries in Chicago (+22 percent), Philadelphia (+22 percent), Hartford (+21 percent), and Seattle (+20 percent). Columbus is the lowest-paying area, 13 percent south of the national average. On the whole, employers pay 10 percent below the median salary for those in this field in Minneapolis and Denver.

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Experience Affects Actuary Salaries




National Average
$83,000


Skills That Affect Actuary Salaries

up arrow 30%


SAS
up arrow 20%



Data Analysis
up arrow 4%

Statistical Analysis
up arrow 1%

National Average
$83,000

Microsoft Access
up arrow 2%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 79 votes.

Gender

Female
26 %
Male
74 %

Years of Experience

Less than 1 year
19%
1-4 years
37%
5-9 years
20%
10-19 years
16%
20 years or more
8%

Common Health Benefits

medical benefits
Medical: 92%
dental benefits
Dental: 77%
medical benefits
Vision: 66%
dental benefits
None: 6%
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