Salary for Actuaries

Also known as:  Actuarial Associate, Actuarial Mathematician, Health Actuary, Insurance Actuary, Pricing Actuary, Product Development Actuary

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Actuaries are professionals in the insurance and benefits industries who use statistics and probability to determine future benefits. They determine risk and liability, and may serve as liaisons between the technical and business sides of the industry. Strong communication skills are a must in this occupation, as many actuaries also explain policy details to government officials and the general public. Strong mathematical skills and a post-secondary degree, often a doctorate, is required for this position. Salaries range from $80,000-$100,000.

An Actuary can earn a salary of somewhere between 72000 to 108000 based on tenure level. Actuaries receive average salaries of Ninety Nine Thousand Three Hundred dollars on an annual basis.

Actuaries have the highest average potential salary in Pennsylvania, where they earn compensation, on average, of about $120620. People with this job title are paid at the highest average level in Professional, Scientific, and Technical Services, where they can earn average compensation of $108450.

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The national wage distribution is shown below. To overlay local salaries for an Actuary, please select your state.
ANNUAL SALARY
HOURLY RATE
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SALARY TREND
The annual compensation for this career has gone up since 2004. Salaries have increased by an average of 13.45 percent nationwide in that time.
INDUSTRIES
Actuaries tend to make the most in the following industries
Other Services (except Public Administration) $108,450
Professional, Scientific, and Technical Services $106,910
Finance and Insurance $98,740
Health Care and Social Assistance $93,010
Management of Companies and Enterprises $88,950
Administrative, Support and Waste Management Services $87,260
In general, they earn less within the industries below
Public Administration $86,450
Administrative, Support and Waste Management Services $87,260
Management of Companies and Enterprises $88,950
Health Care and Social Assistance $93,010
Finance and Insurance $98,740
Professional, Scientific, and Technical Services $106,910
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