Actuary earnings by seniority

Approximate values based on highest and lowest earning segments.

Actuary salary by state

State Name Average Salary
Colorado $112,140
New York $122,910
District of Columbia $119,780
Texas $104,490
Idaho $102,920
Connecticut $101,580
Pennsylvania $104,980
Maine $103,100
North Carolina $112,990
New Jersey $101,080
California $107,410
Washington $107,240
Minnesota $99,870
Georgia $99,230
Arkansas $98,490
Florida $98,170
New Hampshire $94,830
Massachusetts $96,020
Illinois $96,990
Michigan $83,690
Indiana $94,010
Tennessee $93,500
Mississippi $93,370
Delaware $107,100
Missouri $85,690
Iowa $90,610
Wisconsin $81,300
Oregon $85,450
Nebraska $80,800
Ohio $89,620
Rhode Island $83,090
New Mexico $70,120
Nevada $90,240
Alabama $75,310
Oklahoma $76,140
Utah $51,980

How much does an Actuary earn?

The actuarial profession is perfect for individuals who enjoy challenges and problems solving. Those who develop a track-record of success will have many opportunities for growth and advancement. Experienced actuaries have the potential to earn from $150,000 to $250,000 annually, and many actuaries earn more than that.

Most employers of actuaries award merit increases as you gain experience and pass the actuarial examinations. Most companies also offer cash bonuses, salary increases, and promotions for each professional designation achieved.

Base salaries vary by industry. The following is the Compensation by Specialization and Years of Experience (according to the Annual Actuarial Salary Survey done by ActuarialCareers.com):

Life & Annuities
1-2 years - $60k - 86k
3-5 years - $66k - 135k
6-10 years - $75k - 230k
11-15 years - $90k - 475k
16-20 years - $84k - 360k
21+ years - $90k - 700k

Health
1-2 years - $60k - 86k
3-5 years - $64k - 140k
6-10 years - $75k - 230k
11-15 years - $89k - 258k
16-20 years - $84k - 360k
21+ years - $110k - 400k

Investment/Risk
1-2 years - $57k - 90k
3-5 years - $66k - 150k
6-10 years - $87k - 230k
11-15 years - $111k - 275k
16-20 years - $110k - 280k
21+ years - $90k - 450k

Pension
1-2 years - $65k - 86k
3-5 years - $66k - 134k
6-10 years - $68k - 157k
11-15 years - $85k - 275k
16-20 years - $84k - 269k
21+ years - $90k - 377k

Property & Casualty
1-2 years - $55k - 84k
3-5 years - $60k - 150k
6-10 years - $78k - 230k
11-15 years - $90k - 300k
16-20 years - $111k - 385k
21+ years - $113k - 500k

How do actuary salaries compare to similar careers?

Actuaries earn about the same as related careers in the United States. On average, they make less than controllers but more than tax preparers.

Career Median Salary
Controller salary $77K
Bank branch manager salary $80K
Consultant salary $60K
Risk management specialist salary $58K
Fundraising manager salary $73K
Actuary salary $71K
Financial quantitative analyst salary $70K
Entrepreneur salary $44K
Business analyst salary $59K
Tax preparer salary $33K