The average salary for an Actuary is Rs 866,499.
MEDIAN Rs 866,499
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Rs 354k - Rs 5m
Rs 20k - Rs 997k
Rs -22 - Rs 1m
Rs 360k - Rs 5m
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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…Read more
- 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 Skills for Actuary
Skills in Financial Modeling, Pricing, Data Analysis and Financial Analysis are correlated to pay that is above average.
Pay by Experience Level for Actuary
An entry-level Actuary with less than 1 year experience can expect to earn an average total compensation (includes tips, bonus, and overtime pay) of Rs 513,401 based on 48 salaries. An early career Actuary with 1-4 years of experience earns an average total compensation of Rs 805,143 based on 51 salaries. A mid-career Actuary with 5-9 years of experience earns an average total compensation of Rs 1,400,000 based on 35 salaries. An experienced Actuary with 10-19 years of experience earns an average total compensation of Rs 2,855,259 based on 22 salaries. In their late career (20 years and higher), employees earn an average total compensation of Rs 850,000.
Pay Difference by Location
Learn more about cost of living by city.
Employees with Actuary in their job title in Mumbai, Maharashtra earn an average of 67.1% more than the national average. These job titles also find higher than average salaries in Bangalore, Karnataka (26.9% more) and Hyderabad, Andhra Pradesh (26.9% more). The lowest salaries can be found in Chennai, Tamil Nadu (42.3% less), New Delhi, Delhi (40.9% less) and Gurgaon, Haryana (30.8% less).
Years of Experience
This data is based on 160 survey responses.
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