Senior Actuarial Analyst Salary
An average Senior Actuarial Analyst in the United States can expect to take home roughly $81K annually. While the specific employer and experience level impact pay for this group, location is the most influential factor. Job satisfaction is high and work is enjoyable for most Senior Actuarial Analysts. The majority of Senior Actuarial Analysts (63 percent) who took the survey are men. Nearly all enjoy medical while most get dental coverage. Vision coverage is also available to a strong majority. The figures in this rundown are based on the results of PayScale's salary questionnaire.
|Salary||$59,380 - $109,793|
|Bonus||$2,511 - $14,142|
|Total Pay (||$61,236 - $117,039|
Job Description for Senior Actuarial Analyst
Senior actuarial analysts are responsible for high-level actuarial calculations and data analysis. They use standard methodologies to analyze company data, predicting future performance and performing risk analysis. Senior actuarial analysts help develop specific models and tools that allow a company to properly evaluate potential gains and losses of proposed business plans and processes. This includes building theoretical models specific to the company’s circumstances, gathering and analyzing appropriate data, refining the model as needed, and reaching accurate conclusions based on the results of the model. As senior analysts, they provide leadership and training to junior actuaries and provide information to others in their organization in understandable terms, using appropriate charts and presentations.Read More...
Senior actuarial analysts generally work full time in an office environment. They may be required to travel on occasion to give presentations on actuarial data and results, informing other departments or sections of their findings. Senior actuarial analysts work primarily with their actuarial staff and any departments necessary for data gathering (such as sales and underwriting). As accurate models and assessments are crucial to actuarial success, they are responsible for maintaining currency with industry trends and developments.
Senior actuarial analysts are required to hold a bachelor’s degree and, in some cases, a master’s degree in a related field. They must be certified as an Associate or Fellow of the Society of Actuaries (ASA or FSA certification) or be on track for certification. As this is a senior position, relevant experience is required, often four to or more. Specific industry experience, such as healthcare, may be required as well.
Senior Actuarial Analyst Tasks
- Set project goals, determine appropriate methods, and schedule effort to reach objectives.
- Prepare rate filings and execute special projects.
- Write reports, correspondence, and communications for internal and client use.
- Calculate forecasts, rates, and liabilities and recommend changes.
- Analyze, model, and communicate findings and recommendations.
Popular Employer Salaries for Senior Actuarial Analyst
Senior Actuarial Analysts will find the worst pay at Towers Watson, where the median salary crawls in at $79K. Furthermore, compensation is curbed at $101K, leaving little room for growth.
Popular Skills for Senior Actuarial Analyst
Overall, survey participants reported applying a fair number of skills to their work. Most notably, skills in Microsoft Access, SQL, SAS, and Microsoft Excel are correlated to pay that is above average, with boosts between 6 percent and 13 percent. Skills that are correlated to lower pay, on the other hand, include Microsoft SQL Server and Data Analysis. Most people familiar with Microsoft Excel also know Microsoft Access.
Pay by Experience Level for Senior Actuarial Analyst
Pay by Experience for a Senior Actuarial Analyst has a positive trend. An entry-level Senior Actuarial Analyst with less than 5 years of experience can expect to earn an average total compensation of $78,000 based on 85 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Senior Actuarial Analyst with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $103,000 based on 31 salaries. An experienced Senior Actuarial Analyst which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $102,000 based on 14 salaries. A Senior Actuarial Analyst with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $100,000 based on 9 salaries.
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Key Stats for Senior Actuarial Analyst
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