How Much Does an Actuarial Analyst Make? (2025)
According to the U.S. Bureau of Labor Statistics, actuarial analyst jobs in the US will see a significant growth of 22% in employment opportunities from 2023 to 2033. This figure corresponds to an estimated 2,200 job openings every year, which is much faster than the average growth of other occupations.
Salary.com reports that the average annual salary for actuarial analysts in the United States for 2025 is $81,500. This salary guide provides a comprehensive overview of actuarial analyst salaries, job descriptions, FAQs, and job expectations.
What Does an Actuarial Analyst Do?
Actuarial analysts observe and analyze the financial costs of risks and uncertainties undertaken by a company. Their job description heavily involves the use of advanced mathematics, statistics, and financial theories to evaluate the possible outcomes of financial risks.
The nature of an actuarial analyst’s job is essential to the insurance industry, especially during the design and implementation of payment terms in policies. They usually work as consultants with specializations in several aspects including the following:
- Health insurance
- Life insurance
- Property and casualty insurance
- Enterprise risk management
- Public sector
An actuarial analyst must also complete several series of educational backgrounds, technical courses, certifications, and licensure examinations to qualify for the job title.
What is the Actuarial Analyst Salary Overview?
The average salary for actuarial analysts in the United States in 2025 is $81,500 per year or $39 per hour according to Salary.com. An actuarial analyst’s salary ranges from $64,879 to $97,357 per year, with most earning between $72,800 and $89,800. The average salary per month is $6,792.
Actuarial analysts typically earn an average of $39 per hour, with hourly rates ranging from $31 to $47. Moreover, the average salary for actuarial analysts per week is $1,567, with weekly pay ranging from $1,248 to $1,872.
2025 Actuarial Analyst Salary: $81,500 ($39 per hour)
Meanwhile, the median core compensation for an actuarial analyst is $84,700 per year, including salary and bonuses, and varies depending on the percentile.
| Percentile | Salary + Bonus |
|---|---|
| 10th Percentile | $66,742 |
| 25th Percentile | $75,300 |
| 50th Percentile | $84,700 |
| 75th Percentile | $94,200 |
| 90th Percentile | $102,849 |
On the other hand, the average total compensation for actuarial analysts in the US is $119,782 according to Salary.com report. The total compensation package includes benefits like healthcare ($8,352), time off ($10,425), and Social Security ($6,480), which make up 21.1% of the total compensation.
| Category | ||
|---|---|---|
| Median | % of Total | |
| Base Salary | $81,500 | 68.0% |
| Bonus | $3,200 | 2.7% |
| Value of Benefits | ||
| Social Security | $6,480 | 5.4% |
| 401K/403B | $3,557 | 3.0% |
| Disability | $1,694 | 1.4% |
| Healthcare | $8,352 | 7.0% |
| Pension | $4,574 | 3.8% |
| Time Off | $10,425 | 8.7% |
| Total Compensation | $119,782 | 100% |
What Can Affect an Actuarial Analyst’s Salary?
Various factors such as experience level, geographic location, education, and skills can significantly influence the salary of actuarial analysts. Below is a breakdown of key salary components:
By Experience Level
Salary.com data shows that entry-level actuarial analysts with less than one year of experience earn an average salary of $80,166. In contrast, actuarial analysts with eight or more years of experience, considered expert-level professionals, can expect to earn an average salary of $83,558.
| Levels | Salary |
|---|---|
| Entry Level Actuarial Analyst | $80,166 ($38.54 per hour) |
| Intermediate Level Actuarial Analyst | $81,051 ($38.97 per hour) |
| Senior Level Actuarial Analyst | $82,931 ($39.87 per hour) |
| Specialist Level Actuarial Analyst | $83,307 ($40.05 per hour) |
| Expert Level Actuarial Analyst | $83,558 ($40.17 per hour) |
By Geographic Location
Salary for actuarial analysts in the United States vary by geographic location due to key factors like cost of living, the local economy, and industry presence.
Among the hot cities in the United States, San Jose reports the highest median salary at $101,800, while Miami and Dallas reflect lower median salaries at $78,600 and $80,400, respectively.
| Cities | 25th Percentile | 50th Percentile | 75th Percentile |
|---|---|---|---|
| San Francisco, California | $91,000 | $101,800 | $112,300 |
| Washington, District of Columbia | $81,100 | $90,700 | $100,000 |
| Miami, Florida | $70,300 | $78,600 | $86,700 |
| Chicago, Illinois | $76,400 | $85,500 | $94,200 |
| Boston, Massachusetts | $81,600 | $91,300 | $100,700 |
| New York, New York | $85,100 | $95,100 | $104,900 |
| Dallas, Texas | $71,900 | $80,400 | $88,700 |
By Skills
Gaining sought-after skills is an effective way to increase actuarial analyst salaries and unlock more career opportunities. The Real-time Job Posting Salary Data Report indicates that the most in-demand actuarial analyst skills are actuarial function and spreadsheet software with 36.34% and 23.82%, respectively.
These essential skills can also increase actuarial analyst salaries by 12.31% and 11.97%, respectively. The table below includes more in-demand skills for actuarial analysts and their respective influence on their salary:
| Skills | Demand (%) | Salary (%) |
|---|---|---|
| Actuarial Function | 36.34% | +12.31% |
| Spreadsheet Software | 23.83% | +11.97% |
| Data Analysis | 7.94% | +11.45% |
| Structured Query Language (SQL) | 14.71% | +10.96% |
| Data Analysis Software | 8.02% | +10.18% |
| Life Insurance | 15.69% | +9.50% |
By Education
Educational levels can influence the pay scale of actuarial analysts. Most of them possess a bachelor’s degree (64%), followed by a master’s degree (20.5%), and with a small percentage having an associate’s degree (3.9%).
| Degree Level | % of Users with this Level of Education |
|---|---|
| Associates | 3.9% |
| Bachelors | 64.0% |
| Masters | 20.5% |
| Doctorate | 2.1% |
How to Become an Actuarial Analyst?
To pursue a career as an actuarial analyst, concentrate on developing following key areas such as the following:
- Strong educational background: An actuarial analyst is typically required to complete a bachelor’s degree in mathematics, statistics, actuarial science, or any analytical field. They must also complete coursework related to economics, corporate finance, and business. Having knowledge of computer science and programming is also a plus.
- Earn related licenses and certifications: An actuarial analyst can be certified by two professional organizations namely: Casualty Actuarial Society (CAS) and Society of Actuaries (SOA). Both organizations offer associate-level and fellow-level certifications after accomplishing a series of certification examinations.
- Acquire relevant work experience and skills: Entry-level actuarial analysts typically start their careers as trainees handling basic actuarial tasks. They are more likely to rise through the ranks after achieving excellent job performance and passing multiple actuarial exams.
What are the FAQs About Actuarial Analysts?
Here are some common questions about the actuarial analyst salary:
What degree do you need to become an actuarial analyst?
Actuarial analysts are typically required to earn a bachelor’s degree related to mathematics, statistics, actuarial science, or any analytical field. Salary.com reports that 64% of actuarial analysts in the industry possess a bachelor’s degree, along with some professionals having master's and doctorate degrees.
How much do actuarial analysts earn?
The average actuarial analyst salary per year in the US is $81,500. This could vary depending on key factors such as geographic location, skills, demand, and experience. A Salary.com report shows that entry-level actuarial analysts earn $38.54 per hour while expert-level actuarial analysts are paid $40.17 per hour.
What does an actuarial analyst do?
The primary task of actuarial analysts is to observe and analyze the potential financial costs of the risks and uncertainties undertaken by a company. Their job description typically involves the following:
- Compilation, analyzation, and evaluation of statistical data.
- Calculate and estimate the financial cost of an event such as death, sickness, accident, or natural disaster.
- Design and formulate business strategies to minimize the risk of insurance policies and investments.
- Ensure the adequacy of cash reserves in case of insurance payouts or claims.
Does actuary involve a lot of mathematics?
Yes, an actuarial analyst’s job description heavily involves numbers and data, specifically in mathematics and statistics.
