How Much Do Actuaries Make in 2021 (including Starting Salary)

Stan T.Career, SalaryLeave a Comment

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.

Becoming One
Bachelor's degree
Job Satisfaction
Job Growth

Interest Match

Table of contents
  1. Average salary
  2. Starting salary
  3. Salary rank
  4. Salary range
  5. Highest paying states
  6. Highest paying industries

Average salary

Annual salary
$123180 per year
Hourly wage
$59 per hour

Starting salary

Entry-level annual salary
$66,030 to $83,550 per year
Entry-level hourly wage
$32 to $40 per hour

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.

Salary rank

Salary rank

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.

Salary range

Level Hourly Annual
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

State Hourly Annual
NY $74 $154,150
CT $72 $149,430
NH $66 $137,740
NC $66 $137,190
DC $66 $136,230
WA $63 $130,030
MA $62 $128,490
AL $62 $128,230
MO $62 $128,020
KY $60 $125,140

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
Insurance Carriers $124550 $59.88
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
Local Government $105210 $50.58
State Government $92540 $44.49
Employment Services $67230 $32.32

Explore Other Careers

Don’t know which career to pursue?

Take the career quiz to find careers that match your personality type. Take The Career Quiz

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.