How much does a Actuary make?
Actuaries use math and statistics to study risk in business. This work can lead to a rewarding career, including a good salary. The average yearly salary for an actuary is $164,090. That means, on average, actuaries make about $13,674 each month. Here is how salaries break down:
Most actuaries fall in the middle range of salaries. For example, the middle 50% of actuaries earn between $123,482 and $193,045 each year. This range shows that with experience and skills, actuaries can earn more. Here is a closer look at the earnings:
- 10% of actuaries make less than $106,091.
- 25% make between $106,091 and $123,482.
- 50% make between $123,482 and $193,045.
- 75% make between $193,045 and $227,827.
- 90% make less than $245,218.
What are the highest paying cities for a Actuary?
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Cincinnati, OH
Average Salary: $194,381
Cincinnati offers a vibrant job market for those in the field of data analysis and risk management. With companies like Procter & Gamble and Fifth Third Bank, the city provides diverse opportunities. Actuaries can expect a dynamic work environment and strong career growth.
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San Antonio, TX
Average Salary: $191,166
San Antonio's economic growth provides a fertile ground for those in risk assessment. Key employers such as USAA and Frost Bank create a demand for skilled professionals. The cost of living is moderate, making it an attractive option for actuaries.
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Tulsa, OK
Average Salary: $189,086
Tulsa supports a thriving career in actuarial science with major firms like ONEOK and BOK Financial Corporation. The city’s lower cost of living and strong community make it an appealing place for professionals to settle and grow.
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Colorado Springs, CO
Average Salary: $189,045
Colorado Springs offers a blend of outdoor activities and professional opportunities. Companies like USAA and Pikes Peak Region are looking for top talent. The quality of life is high, with beautiful scenery and a robust job market.
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Louisville, KY
Average Salary: $187,450
Louisville's job market is supported by strong industries like banking and insurance. With companies like Humana and United Parcel Service, actuaries can find meaningful work. The city offers a good balance between professional opportunities and a relaxed lifestyle.
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New Orleans, LA
Average Salary: $187,231
New Orleans combines a rich culture with a growing demand for risk management professionals. Companies such as Entergy and Ochsner Health are hiring. The city’s unique atmosphere and lower living costs add to its appeal.
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Tampa, FL
Average Salary: $181,996
Tampa’s job market is expanding, particularly in the finance and insurance sectors. Major employers like Raymond James and Florida Blue seek skilled professionals. The city’s warm climate and lower living costs are attractive benefits.
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Fresno, CA
Average Salary: $180,020
Fresno provides a favorable environment for those in data analysis. With companies like Valley National Bank and Fresno County, opportunities are plentiful. The cost of living is moderate, making it a practical choice for career growth.
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Grand Rapids, MI
Average Salary: $179,620
Grand Rapids offers a mix of business opportunities and a high quality of life. Companies such as Spectrum Health and Amway are leaders in the field. The city’s strong community and lower living costs support career development.
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Miami, FL
Average Salary: $178,890
Miami’s diverse economy offers many opportunities for professionals in risk management. Key employers like UnitedHealthcare and JPMorgan Chase provide a dynamic work environment. The city’s vibrant culture and warm climate enhance the overall experience.
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What are the best companies a Actuary can work for?
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EY
Average Salary: $223,282
EY provides Actuary roles that offer strong financial rewards and professional growth. They operate in major cities worldwide, including New York, London, and Sydney. EY focuses on delivering high-quality services in assurance, tax, transaction, and advisory.
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USAA
Average Salary: $206,647
USAA is a top employer for Actuaries who value stability and teamwork. Operating in the US, it offers competitive salaries and benefits. USAA specializes in financial services for military members and their families.
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Deloitte
Average Salary: $193,347
Deloitte is known for its challenging Actuary positions and comprehensive benefits. With offices in over 150 countries, it offers global opportunities. Deloitte provides audit, consulting, and financial advisory services.
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DW Simpson
Average Salary: $189,311
DW Simpson offers rewarding Actuary jobs with a focus on client satisfaction. The company operates in the US and Canada, providing services in recruitment and talent management. They value excellence in their roles.
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Pacific Life
Average Salary: $184,864
Pacific Life offers competitive salaries for Actuaries who want to work in a company that values innovation. Based in the US, it focuses on life insurance and financial services.
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Liberty Mutual Insurance
Average Salary: $176,394
Liberty Mutual Insurance provides opportunities for Actuaries with a focus on risk management. Operating globally, it offers diverse roles and a supportive work environment.
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Nationwide Mutual Insurance Company
Average Salary: $169,291
Nationwide offers solid compensation for Actuaries who want to work in the insurance sector. With a strong presence in the US, it provides various insurance and financial services.
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MassMutual
Average Salary: $166,009
MassMutual provides Actuary roles that emphasize stability and career growth. Operating in the US, it focuses on life insurance and financial services.
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CVS Health
Average Salary: $164,134
CVS Health offers competitive salaries for Actuaries who want to work in the healthcare sector. With a nationwide presence in the US, it provides a wide range of health services.
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AXA
Average Salary: $162,556
AXA offers rewarding Actuary positions with a focus on global operations. Operating in Europe and Asia, it provides insurance and asset management services.
How to earn more as a Actuary?
Becoming an actuary can be a great career move. This profession involves analyzing risks and making informed decisions. Actuaries can earn good money. The path to higher earnings involves several factors. These factors can help increase an actuary's salary.
One key factor is gaining experience. Actuaries with more years in the field often earn more. They build a strong reputation and gain more specialized skills. This experience makes them more valuable. Another factor is earning professional certifications. Passing exams and achieving a Certified Actuary (CA) designation can lead to higher pay. Employers often seek candidates with this credential.
- Experience: More years in the field can lead to higher pay.
- Certifications: Passing exams and getting a CA designation can boost salary.
- Specialization: Focusing on a niche area can command higher pay.
- Education: Advanced degrees can increase earning potential.
- Location: Working in areas with high demand can lead to higher salaries.
