How much does a Actuary make?
Actuaries often earn a very good salary. For those new to the field, starting salaries can be quite attractive. An entry-level actuary may earn around $70,688 annually. As experience grows, so do the earnings. Mid-career actuaries can expect to earn between $127,773 and $184,858 each year. This range reflects the increased responsibility and expertise they bring to their roles. Actuaries with more than a decade of experience often see their salaries rise even higher, with some earning over $222,915 annually.
The average yearly salary for actuaries stands at $160,538. This figure includes all levels of experience and specialties within the field. Factors such as location, industry, and company size can also influence earnings. For example, actuaries in the insurance industry may have different salary ranges compared to those in finance or consulting. Location matters too, with some regions offering higher pay due to the cost of living and demand for skilled professionals.
What are the highest paying cities for a Actuary?
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San Antonio, TX
Average Salary: $202,910
In San Antonio, actuaries play a key role in guiding businesses on risk management. The presence of major companies like USAA and Frost Bank means actuaries here have plenty of opportunities. The city’s supportive business environment enhances career growth.
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Colorado Springs, CO
Average Salary: $191,949
Colorado Springs offers a unique blend of business and outdoor lifestyle. Actuaries here work with companies like New York Life and Lincoln Financial. The city's lower cost of living allows for a higher quality of life alongside a rewarding career.
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Tulsa, OK
Average Salary: $190,815
Tulsa boasts a growing job market for actuaries, particularly in the energy sector. Companies like ONEOK and Chesapeake Energy need skilled professionals. The city's affordable living costs make it an attractive place to build a career.
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Louisville, KY
Average Salary: $188,939
Louisville offers a mix of tradition and modern opportunities for actuaries. Major employers like Humana and Kentucky Utilities rely on actuarial expertise. The city's vibrant culture and lower living costs provide a great work-life balance.
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Tampa, FL
Average Salary: $187,924
In Tampa, actuaries find a dynamic environment with companies like Raymond James and Travelers. The city's sunny climate and lower cost of living make it an appealing place to work. Opportunities for career growth are plentiful here.
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Tallahassee, FL
Average Salary: $185,650
Tallahassee provides a stable job market for actuaries, with a focus on the state government and insurance companies. Working here means being part of a close-knit community. The cost of living is relatively low, making it easy to save and invest.
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Las Vegas, NV
Average Salary: $182,339
Las Vegas offers a bustling environment for actuaries, especially in the gaming and hospitality industries. Major companies like MGM Resorts and Caesars Entertainment offer exciting opportunities. The city's vibrant lifestyle makes for an engaging work experience.
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Stamford, CT
Average Salary: $181,855
Stamford is a hub for financial services, making it an excellent place for actuaries. Companies like Travelers and Eversource Energy need skilled professionals. The city's proximity to New York City adds to its appeal for career development.
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Jacksonville, FL
Average Salary: $181,765
Jacksonville provides a growing market for actuaries, with opportunities in insurance and finance. The city's lower cost of living and pleasant climate make it a great place to work and live. Employers like Prudential and Fidelity Investments offer solid career paths.
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Fresno, CA
Average Salary: $180,979
Fresno offers a diverse job market for actuaries, with agriculture and insurance being key sectors. Companies like Blue Shield of California and Fresno County are looking for skilled professionals. The city's warm climate and lower living costs add to its attractiveness.
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What are the best companies a Actuary can work for?
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Brighthouse Financial
Average Salary: $236,833
Brighthouse Financial offers competitive salaries and opportunities for growth in actuarial positions. The company operates in multiple states across the United States, providing diverse work environments.
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USAA
Average Salary: $202,270
USAA values its actuarial professionals, providing generous compensation packages. This company, based in San Antonio, Texas, offers a collaborative work atmosphere with chances for professional development.
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DW Simpson Global Actuarial & Analytics Recruitment
Average Salary: $201,686
DW Simpson Global Actuarial & Analytics Recruitment provides excellent salaries for actuaries. Operating globally, the company offers opportunities to work in different countries and sectors.
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WAHVE LLC
Average Salary: $200,000
WAHVE LLC offers top-tier salaries for actuarial roles. With offices in the United States, the company provides a dynamic work environment with a focus on innovation.
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The Standard
Average Salary: $185,287
The Standard offers attractive salaries for actuaries. This company, based in the United States, provides a supportive work culture with opportunities for career advancement.
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Deloitte
Average Salary: $184,473
Deloitte offers competitive compensation for actuarial roles. With a global presence, Deloitte provides a collaborative environment and numerous opportunities for professional growth.
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Prudential Financial
Average Salary: $180,490
Prudential Financial provides a solid salary for actuaries. The company operates in the United States, offering a stable work environment and numerous opportunities for career advancement.
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Liberty Mutual Insurance
Average Salary: $178,848
Liberty Mutual Insurance offers attractive salaries for actuarial positions. This company, based in the United States, provides a dynamic work environment with a focus on customer service.
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National Life Group
Average Salary: $174,046
National Life Group provides competitive compensation for actuaries. The company operates in the United States, offering a supportive work culture and opportunities for professional development.
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Genworth
Average Salary: $172,957
Genworth offers attractive salaries for actuarial roles. This company, based in the United States, provides a stable work environment and numerous opportunities for career advancement.
How to earn more as a Actuary?
Actuaries analyze data to help businesses make smart financial choices. If you want to earn more as an actuary, focus on these key areas. Improving skills and credentials can lead to higher pay.
First, gaining more experience can help. Experienced actuaries often earn higher salaries. Second, obtaining additional certifications can be helpful. The Society of Actuaries offers several exams that, once passed, can add value to your resume. Third, specializing in a niche can also increase earnings. Actuaries who focus on life insurance or pensions often earn more. Fourth, working for a larger or more prestigious company can lead to higher pay. Finally, relocating to an area with a higher cost of living can also boost income. Actuaries in big cities often earn more than those in smaller towns.
By focusing on these factors, actuaries can improve their earning potential. Hard work and dedication can lead to a more rewarding career.
- Gain more experience
- Obtain additional certifications
- Specialize in a niche
- Work for a larger company
- Relocate to a higher-paying area
