Avg. Base Salary (ZAR)
The average salary for an Actuary is R650,000
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 R500,000 based on 6 salaries. A mid-career Actuary with 5-9 years of experience earns an average total compensation of R650,000 based on 9 salaries.
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 …Read more
FAQs About Actuaries
What is the highest pay for Actuaries?
Our data indicates that the highest pay for an Actuary is ZAR 1m / year
What is the lowest pay for Actuaries?
Our data indicates that the lowest pay for an Actuary is ZAR 194k / year
How can Actuaries increase their salary?
Increasing your pay as an Actuary is possible in different ways. Change of employer: Consider a career move to a new employer that is willing to pay higher for your skills. Level of Education: Gaining advanced degrees may allow this role to increase their income potential and qualify for promotions. Managing Experience: If you are an Actuary that oversees more junior Actuaries, this experience can increase the likelihood to earn more.