2021 Annual Salary, Salary Range, and Highest Paying States and Industries
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.
Table of contents
- Average salary
- Starting salary
- Salary rank
- Salary range
- Highest paying states
- Highest paying industries
Entry-level Actuaries with little to no experience can expect to make anywhere between $66,030 to $83,550 per year or $32 to $40 per hour. Similar to any other job, their salary will increase as they gain experience.
We wanted to make it easy for our readers to compare the salary of Actuaries to all the other careers out there. So we created Salary Rank. We compared the salary of all careers then we gave them a rank of A, B, C, or D depending on where their average salary sit in comparison to other careers.
|Highest (Top 10%)||$94||$196,010|
|Senior (Top 25%)||$73||$151,060|
|Middle (Mid 50%)||$53||$111,030|
|Junior (Bottom 25%)||$40||$83,550|
|No experience (Bottom 10%)||$32||$66,030|
Highest paying states
Another simple way to increase your salary as an Actuary is to move to a higher paying state. However moving to a higher paying state like NY doesn’t guarantee that you will make more because the expenses at NY might be much higher than where you are currently living at right now.
According to BLS, the highest paid Actuaries are in the states of NY, CT, NH, NC and DC.
Highest paying industries
|Salary by industry||Annual||Hourly|
|Business, Professional, Labor, Political, and Similar Organizations||$173070||$83.21|
|Credit Intermediation and Related Activities||$154250||$74.16|
|Computer Systems Design and Related Services||$149140||$71.70|
|Securities, Commodity Contracts, and Other Financial Investments and Related Activities||$139100||$66.88|
|Federal Executive Branch||$136140||$65.45|
|Insurance and Employee Benefit Funds||$133820||$64.34|
|Agencies, Brokerages, and Other Insurance Related Activities||$129610||$62.31|
|Management, Scientific, and Technical Consulting Services||$121920||$58.62|
|Accounting, Tax Preparation, Bookkeeping, and Payroll Services||$121230||$58.28|
|Office Administrative Services||$120170||$57.77|
|Management of Companies and Enterprises||$111820||$53.76|