How much does a Actuarial Analyst make?
An Actuarial Analyst evaluates financial risks for companies, often in the insurance industry. This role requires strong analytical and mathematical skills. On average, Actuarial Analysts earn around $105,292 per year. However, salaries can vary widely based on experience, location, and the specific industry.
Here is a look at the salary distribution for Actuarial Analysts:
- The lowest 10% earn less than $60,252.
- The next 10% earn between $60,252 and $70,152.
- The next 20% earn between $70,152 and $80,052.
- The next 20% earn between $80,052 and $89,952.
- The middle 20% earn between $89,952 and $109,751.
- The top 10% earn over $129,551.
With more experience, Actuarial Analysts can see their salaries increase. Higher-level positions, like Senior Actuarial Analysts or Managers, typically offer even better pay.
What are the highest paying cities for a Actuarial Analyst?
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San Francisco, CA
Average Salary: $134,289
In San Francisco, professionals can expect dynamic opportunities in a thriving tech hub. Companies like Google and Visa provide a unique blend of tech innovation and traditional finance. The competitive environment drives growth in actuarial roles.
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San Antonio, TX
Average Salary: $122,386
San Antonio offers a growing market with a strong demand for actuarial expertise. Firms like USAA and Frost Bank thrive here, offering stability and growth in actuarial careers. The city's business-friendly atmosphere supports professional development.
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Seattle, WA
Average Salary: $116,376
Seattle boasts a robust financial sector, with companies like Amazon and Microsoft influencing the job market. The city's tech and finance industries create a vibrant environment for actuaries. The dynamic workplace encourages skill development.
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Phoenix, AZ
Average Salary: $114,314
Phoenix presents a growing market for actuarial professionals. Companies like State Farm and AutoZone provide diverse opportunities. The city's expanding economy offers a promising career path for those in the field.
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Tampa, FL
Average Salary: $113,632
Tampa offers a favorable climate and a strong job market. Here, firms like Raymond James and TIAA Bank seek skilled actuaries. The combination of a warm climate and strong job opportunities makes it an attractive destination.
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Boston, MA
Average Salary: $110,370
Boston is a historic hub of finance and insurance. Prominent companies like Fidelity and MassMutual look for talented actuaries. The city's rich history in finance provides a solid foundation for actuarial careers.
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Chicago, IL
Average Salary: $109,769
Chicago is a key player in finance and insurance. Major companies like Allstate and Aon are major employers. The city's diverse economy offers many opportunities for actuaries to thrive.
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Atlanta, GA
Average Salary: $108,417
Atlanta is a growing city with a strong demand for actuarial skills. Companies like Aflac and SunTrust Bank offer excellent opportunities. The city's expanding business environment supports career growth.
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Denver, CO
Average Salary: $107,835
Denver's vibrant economy offers many opportunities for actuaries. Companies like Rocky Mountain Insurance Group provide a dynamic work environment. The city's growing tech and finance sectors support a promising career path.
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Des Moines, IA
Average Salary: $105,676
Des Moines serves as a hub for insurance companies, making it a great place for actuaries. Firms like Principal Financial Group offer strong opportunities. The city's focus on finance creates a supportive environment for actuarial careers.
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What are the best companies a Actuarial Analyst can work for?
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Amazon.com
Average Salary: $171,059
Amazon.com offers rewarding Actuarial Analyst jobs. They work on data analytics and risk assessment. Amazon operates in multiple locations, including the United States, Europe, and Asia.
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Kaiser Permanente
Average Salary: $150,683
Kaiser Permanente provides excellent Actuarial Analyst roles. They focus on health care data and risk management. Kaiser Permanente operates across the West Coast and the Mid-Atlantic States.
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DW Simpson
Average Salary: $138,439
DW Simpson offers Actuarial Analyst jobs with a focus on consulting. They work with various industries to assess risks and model data. DW Simpson operates nationwide across the United States.
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USAA
Average Salary: $127,759
USAA has Actuarial Analyst positions that involve financial risk management. They provide services to military members and their families. USAA is based in San Antonio, Texas.
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The Hartford
Average Salary: $124,047
The Hartford offers Actuarial Analyst jobs focused on insurance. They analyze data to manage risks and create insurance solutions. The Hartford operates nationwide in the United States.
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Liberty Mutual Insurance
Average Salary: $123,318
Liberty Mutual Insurance provides Actuarial Analyst roles in risk assessment. They work on data to develop insurance policies. Liberty Mutual is headquartered in Boston, Massachusetts.
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Aon
Average Salary: $115,891
Aon offers Actuarial Analyst jobs in risk management and consulting. They help businesses manage their risks. Aon operates in over 120 countries worldwide.
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Nationwide Mutual Insurance Company
Average Salary: $111,729
Nationwide provides Actuarial Analyst roles in managing insurance risks. They focus on data analytics for policy development. Nationwide is based in Columbus, Ohio.
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Global Atlantic Financial Group
Average Salary: $110,692
Global Atlantic Financial Group offers Actuarial Analyst jobs in financial risk management. They work with businesses to assess and manage financial risks. They operate globally.
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CVS Health
Average Salary: $110,362
CVS Health provides Actuarial Analyst positions in health care. They analyze data to manage health risks and improve health care solutions. CVS Health operates nationwide in the United States.
How to earn more as a Actuarial Analyst?
Becoming a successful Actuarial Analyst requires more than just the right degree and skills. It also means knowing how to grow your earnings potential. Here are five key factors that can help an Actuarial Analyst earn more.
Firstly, gaining more experience can lead to higher pay. Employers often pay more to analysts who have a proven track record. Experience allows analysts to tackle more complex tasks and make better predictions. Second, obtaining professional certifications can boost earning potential. Certifications like the Associate of the Society of Actuaries (ASA) or the Fellow of the Society of Actuaries (FSA) are highly valued. These credentials show a commitment to the profession and can lead to higher-paying positions. Third, specializing in a niche area can also increase earnings. Focusing on areas like life insurance, health insurance, or property and casualty can make an analyst more valuable to employers. Specialization often comes with a higher salary.
Fourth, seeking opportunities for career advancement is crucial. Analysts who take on leadership roles or move into management often see significant pay increases. Finally, staying updated with industry trends and technologies can lead to better job opportunities. Technology skills, such as proficiency in statistical software or programming languages, can set an analyst apart and open doors to higher-paying jobs.
By focusing on these factors, an Actuarial Analyst can maximize their earning potential and advance their career.
- Gain more experience
- Obtain professional certifications
- Specialize in a niche area
- Seek career advancement opportunities
- Stay updated with industry trends
