The average salary for an Entry-Level Actuary in India is ₹517,371.
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What Do Actuaries Do?
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.
What is the Pay by Experience Level for Actuaries?
An early career Actuary with 1-4 years of experience earns an average total compensation (includes tips, bonus, and overtime pay) of ₹786,971 based on 47 salaries. A mid-career Actuary with 5-9 years of experience earns an average total compensation of ₹1,500,000 based on 28 salaries. An experienced Actuary with 10-19 years of experience earns an average total compensation of ₹2,927,074 based on 24 salaries. In their late career (20 years and higher), employees earn an average total compensation of ₹850,000.
Pay Difference by Location
Employees with Actuary in their job title in Bangalore, Karnataka earn an average of 16.0% more than the national average. These job titles also find higher than average salaries in Mumbai, Maharashtra (2.4% more) and Delhi, Delhi (0.4% more). The lowest salaries can be found in New Delhi, Delhi (32.4% less).
Years of Experience
This data is based on 104 survey responses.