Actuaries Salary 2017: How Much Money Do They Make

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hourly pay for Actuaries
do Actuaries make a lot of money

Actuaries

Other names for this job might include Actuarial Analyst, Actuarial Assistant, Actuarial Associate, Actuarial Consultant, Actuarial Mathematician, Actuary, Consulting Actuary, Health Actuary, Insurance Actuary, Pricing Actuary


  • $114120
    Salary
  • 80%
    Job satisfaction
  • Quite Hard
    Becoming one
  • High
    Job growth
OwlGuru Rank

A+



How Much Successful Actuaries Make In 2017


In this salary guide, you will find out how much do Actuaries make.

After reading this, you will be able to make a decision if working as an Actuary will suit your financial goals (e.g: buying a home, BMW or just your target salary goal).



Average salary

Annual salary
$114120 per year

Hourly wage
$54.870 per hour


1 of the most popular questions we get from our readers here at OwlGuru is how much do Actuaries make per year and what is their hourly wage.

According to BLS, the average annual salary of Actuaries is $114120. Their salary can also be as low as $58910 if you’re still a newbie with no experience to over $186250 if you have a ton of experience under your belt.

The typical hourly pay is $54.870 and can range from $28.320 to $89.540 which also depends if you’re a newbie or a professional.

Just like any other job, the salary of An Actuary will vary based on your education and experience level.

# = Over $100 per hour or $200,000 per year.
Salary rank
A

We wanted to make it easy for our readers to compare the salary of An Actuary to all the other careers out there. So we created Salary Rank.

This compares the salary of all careers and we give them a rank of A, B, C or D depending on how high or low is their average salary.

After comparing how much do Actuaries make with other careers, they have a salary rank of A.



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Salary range

LevelHourlyYearly
Highest (Top 10%)$89.540$186250
Senior (Top 25%)$67.400$140190
Middle (Mid 50%)$48.370$100610
Junior (Bottom 25%)$35.810$74480
No experience (Bottom 10%)$28.320$58910


Entry-level Actuaries who starts out at $74480 can expect to make $100610 after 3-5 years of experience in the field.

The bottom 10% makes less than $28.320 per hour while the top 10% makes over $89.540 per hour.

While the median wage is $100610 per annum or $48.370 per hour.

Depending on who you work for, you might also get overtime pay.

# = Over $100 per hour or $200,000 per year.


Highest paying industries

Industry nameHourly wageAnnual salary
Nondepository Credit Intermediation69.33144210
Credit Intermediation and Related Activities66.76138850
Insurance Agencies and Brokerages62.97130970
Other Services (except Federal, State, and Local Government)62.05129050
Religious, Grantmaking, Civic, Professional, and Similar Organizations62.05129050
Business, Professional, Labor, Political, and Similar Organizations62.05129050
Agencies, Brokerages, and Other Insurance Related Activities59.59123950
Federal Executive Branch56.55117620
Federal government, including the US Postal Service56.55117620
Other Financial Investment Activities56.42117350
Professional, Scientific, and Technical Services55.8116070
Funds, Trusts, and Other Financial Vehicles55.57115580
Insurance and Employee Benefit Funds55.57115580
Management, Scientific, and Technical Consulting Services55.48115390
Other Insurance Related Activities55.29115000
Securities, Commodity Contracts, and Other Financial Investments and Related Activities54.68113730
Finance and Insurance53.57111420
Insurance Carriers and Related Activities53.49111250
All industries, private ownership only53.24110740
All industries52.93110090
Office Administrative Services51.04106170
Insurance Carriers51.01106090
Sector 56- Administrative and Support and Waste Management and Remediation Services50.57105190
Administrative and Support Services50.57105190
Direct Insurance (except Life, Health, and Medical) Carriers48.38100630
Management of Companies and Enterprises47.7199230
Outpatient Care Centers46.696930
Federal, State, and Local Government45.6895010
Federal, State, and Local Government, excluding state and local schools and hospitals, and the US Postal Service45.6895010
Federal, state, and local government, including government owned schools and hospitals, and the US Postal Service45.4394490
Other Professional, Scientific, and Technical Services43.9791450
Local Government, excluding schools and hospitals41.7386810
Hospitals, Privately owned41.5186340
General Medical and Surgical Hospitals, Privately owned41.5186340
Hospitals (including private, state, and local government hospitals)41.2585800
General Medical and Surgical Hospitals (including private, state, and local government hospitals)41.2585800
Local government, including schools and hospitals41.1885650
Health Care and Social Assistance (including private, state, and local government hospitals)40.9185100
Ambulatory Health Care Services40.5584350
State Government, excluding schools and hospitals40.0783340
State government, including schools and hospitals39.9183010
Educational Services (including private, state, and local government schools)30.9864440

Not all industries pay the same for Actuaries.

1 of the easiest way to increase your salary is to change industries and find a higher paying one.



Highest paying states

StateHourlyAnnual
CO$74.62$155220
KS$64.12$133370
NY$62.45$129890
DC$58.06$120760
TX$55.76$115990
ME$55.58$115600
PA$55.55$115550
NJ$55.07$114540
MA$53.74$111780
CA$53.02$110280

Another simple way to boost your pay as An Actuary is to move to a higher paying state. However moving to a higher paying state like CO doesn’t mean you will make more overall. This is because the expenses at CO may be 2x higher than where you are currently living at right now.

According to the BLS, the highest paid / most successful Actuaries are in the states of CO, KS, NY, DC and TX. The average salary in CO is $155220.



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Related to Actuaries Salary

Actuaries salary, how much do Actuaries earn, Actuaries hourly wage, Actuaries annual pay, highest paying industries for Actuaries, which states pay the highest for Actuaries

Additional resources

http://www.bls.gov/OOH/math/actuaries.htm
http://www.actuary.org/
http://www.beanactuary.org/
http://www.asppa.org/

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Actuaries
Written by: Stanley Tan
Actuaries analyze statistical data, such as mortality, accident, sickness, disability, and retirement rates and construct probability tables to forecast risk and liability for payment of future benefits. May ascertain insurance rates required and cash reserves necessary to ensure payment of future benefits.
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