The average salary for an Actuary in United Kingdom is £55,813.
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£31k - £92k
£1k - £20k
£0 - £23k
£32k - £106k
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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.
Popular Employer Salaries for Actuary
The top respondents for the job title Actuary are from the companies EY (Ernst & Young), Hymans Robertson and Prudential. Reported salaries are highest at Partnership Assurance where the average pay is £70,000. Other companies that offer high salaries for this role include Prudential, earning around £64,985. Towers Watson pays the lowest at around £53,750. Hymans Robertson also pays on the lower end of the scale, paying £60,766.
Explore the most common career paths for Actuary. Thickness and color of lines indicates popularity of movement from one job to the next. Visit our career path planner to research other job paths.
More common (> 20%)
Somewhat common (8 - 20%)
Less common (< 8%)
Actuary Job Listings
Popular Skills for Actuary
Skills in Insurance, Financial Modeling, Risk Management / Risk Control and Pricing are correlated to pay that is above average. Skills that pay less than market rate include Microsoft Excel.
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 £29,138 based on 17 salaries. An early career Actuary with 1-4 years of experience earns an average total compensation of £43,553 based on 114 salaries. A mid-career Actuary with 5-9 years of experience earns an average total compensation of £61,849 based on 160 salaries. An experienced Actuary with 10-19 years of experience earns an average total compensation of £76,143 based on 88 salaries. In their late career (20 years and higher), employees earn an average total compensation of £97,887.
Pay Difference by Location
Learn more about cost of living by city.
Employees with Actuary in their job title in London, England: London earn an average of 13.3% more than the national average. These job titles also find higher than average salaries in Swindon, England: Wiltshire (3.7% more). The lowest salaries can be found in Glasgow, Scotland: Glasgow (19.4% less), Edinburgh, Scotland: Edinburgh (15.7% less) and Bristol, England: Bristol (14.0% less).
Years of Experience
This data is based on 399 survey responses.