Actuary earnings by seniority

Approximate values based on highest and lowest earning segments.

Actuary salary by state

State Name Average Salary
New York $131,510
Connecticut $115,130
Pennsylvania $117,252
Washington $124,610
District of Columbia $126,060
New Hampshire $116,790
Idaho $90,270
California $114,290
Colorado $114,660
Georgia $106,020
Illinois $108,196
North Carolina $110,510
Minnesota $101,190
Massachusetts $100,970
Kansas $101,120
New Jersey $101,280
Mississippi $109,140
Florida $100,450
Oregon $91,940
Iowa $98,180
Texas $93,670
Wisconsin $97,180
Maine $107,180
Nebraska $87,890
Rhode Island $92,730
Indiana $93,010
Ohio $94,000
Missouri $84,500
Maryland $92,820
Vermont $78,200
Michigan $80,350
Arkansas $81,110
Alabama $80,346
Nevada $91,040
Utah $52,830
Puerto Rico $53,490

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 8% less than similar careers in Illinois. On average, they make less than bank branch managers but more than investment bankers.

Career Median Salary
Bank branch manager salary $145K
Treasurer salary $141K
Financial manager salary $128K
Stock trader salary $92K
Securities and commodities broker salary $92K
Actuary salary $108K
Financial quantitative analyst salary $93K
Risk management specialist salary $90K
Loan officer salary $82K
Investment banker salary $89K

Source: CareerExplorer (Aggregated)