Senior Actuarial Analyst Salary
The average Senior Actuarial Analyst in the United States earns approximately $82K annually. This group's pay is mainly influenced by geographic location, followed by the specific employer and tenure. Women are just slightly outnumbered, with male Senior Actuarial Analysts making up 58 percent of survey respondents. Nearly all report receiving medical coverage from their employers and most collect dental insurance. For the most part, Senior Actuarial Analysts enjoy their work and report high levels of job satisfaction. This report is based on answers to PayScale's salary questionnaire.
|Salary||$58,884 - $108,241|
|Bonus||$1,993 - $14,933|
|Total Pay (||$60,994 - $114,040|
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. (Copyright 2017 PayScale.com)
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.
Senior Actuarial Analyst Job Listings
Popular Employer Salaries for Senior Actuarial Analyst
The lowest salaries can be found at Towers Watson — median pay is $79K — and there is little variation in compensation, with paychecks starting at $67K and only reaching $101K.
Popular Skills for Senior Actuarial Analyst
Senior Actuarial Analysts report using a diverse set of skills on the job. Most notably, skills in Microsoft Access, SQL, SAS, and Microsoft Excel are correlated to pay that is above average, with boosts between 4 percent and 11 percent. Skills that pay less than market rate 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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