$86,925
Avg. Salary
$24.48
Avg. Hourly Rate

Average additional compensation:

$9,990

Bonus

$4,880

Profit Sharing

What am I worth?
How should I pay?

The average pay for an Actuary is $24.48 per hour.

The average pay for an Actuary is $86,925 per year.

10%
$14.19
10%
$24.48
50%
$46.54
90%
90%
MEDIAN $24.48
10%
$51k
10%
$87k
50%
$146k
90%
90%
MEDIAN $86,925
$50,578 - $146,421
$51K
$87K
$150K
MEDIAN: $86,925
10%
50%
90%

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$14.19 - $46.54
$14
$24
$47
MEDIAN: $24.48
10%
50%
90%

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$0$166K
Salary $50,578 - $146,421
Bonus $1,938 - $31,051
Profit Sharing $0.00 - $20,520
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).
)
$50,276 - $166,122
  • Country: United States
  • Currency: USD
  • Updated: 17 Mar 2019
  • Individuals Reporting: 1,557
Hourly Data $0$120
Hourly Rate $14.19 - $46.54
Hourly Tips $6.67
Overtime $18.00 - $120
Annual Data $0$166K
Bonus $1,938 - $31,051
Profit Sharing $0.00 - $20,520
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).
)
$50,276 - $166,122
  • Country: United States
  • Currency: USD
  • Updated: 17 Mar 2019
  • Individuals Reporting: 71

Job Description

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.

Read More...
Actuary Tasks
  • 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.


Well-known firms with a reputation for hiring numerous Actuaries include Humana, Inc., Metropolitan Life Insurance Company (MetLife), American International Group, Inc. (AIG), New York Life Insurance Company, and Towers Watson. Those at Towers Watson can expect to make the most, with the company offering a median salary of $156K. Those in search of high salaries should also consider Prudential, Metropolitan Life Insurance Company (MetLife), and ACE Group, top-paying firms where Actuaries rake in a whopping $137K, $135K, or $120K, respectively.

Others at the bottom of the scale for this job include Milliman, Incorporated at $85K, New York Life Insurance Company at $94K, and American International Group, Inc. (AIG), where $100K is the norm.

Job Listings

Popular Skills


Survey results imply that Actuaries put a diverse skill set to use. Most notably, facility with Pricing, Financial Modeling, and SAS are correlated to pay that is significantly above average, leading to increases of 32 percent, 26 percent, and 17 percent, respectively. Skills that seem to negatively impact pay include Microsoft Access. Those who learned Microsoft Excel also tend to know Financial Modeling and Financial Analysis. Most people experienced in Data Analysis also know Financial Analysis and Financial Modeling.

Pay by Experience Level

Pay by Experience for an Actuary has a positive trend. An entry-level Actuary with less than 5 years of experience can expect to earn an average total compensation of $65,000 based on 599 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. An Actuary with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $111,000 based on 248 salaries. An experienced Actuary which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $135,000 based on 175 salaries. An Actuary with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $148,000 based on 76 salaries.

Pay Difference by Location

National Average: $89,787

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

For Actuaries, busy Portland offers a higher-than-average pay rate, 41 percent above the national average. Actuaries can also look forward to large paychecks in cities like Seattle (+31 percent), Richmond (+21 percent), Chicago (+20 percent), and Philadelphia (+20 percent). In Dallas, salaries are 16 percent below the national average and represent the lowest-paying market. Employers pay around 7 percent less in Nashville and 4 percent less in Cleveland, below-median salaries for those in this field.

Job Reviews

Q: What is it like working as an Actuary?

Actuary:
Actuarial Community is caring and empowering people to do great work. We own our projects and you are rewarded for doing great work. A lof of freedom to explore ways to improve the business process and predictive modeling methods and tools.

Actuary in Worcester:
"No traffic to work."
Pros: Friendly place, creative work, empowering workers
Cons: Lower pay, opportunity for advancement

Actuary in Lansing:
"Analyze things."
Data science is better.

Related Job Salaries

Gender

Female
28 %
Male
72 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 149 votes.
Less than 1 year
17%
1-4 years
35%
5-9 years
23%
10-19 years
17%
20 years or more
8%

How Experience Affects Salaries

▲65%

▲50%

▲23%

National Average
$90,000

▼27%

How Skills Affect Salaries

▲24%


SAS
▲9%


Data Modeling
▲2%


National Average
$90,000


SQL
▼2%



Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 149 votes.

Gender

Female
28 %
Male
72 %

Years of Experience

Less than 1 year
17%
1-4 years
35%
5-9 years
23%
10-19 years
17%
20 years or more
8%

Common Health Benefits

medical benefits
Medical: 91%
dental benefits
Dental: 80%
vision benefits
Vision: 67%
no benefits
None: 7%