How Much Do Actuaries Make?
As I’m sure you can imagine, just like for any job, the range of income that an actuary make depends on many different factors. Experience, # of exams and specialization are three of the most predominate factors, but company, level of seniority, and geographical location also come into play.
Areas where the supply of actuaries is much higher than the need tend to have a lower pay than places where it’s more difficult to find good, qualified actuarial personnel to fill positions.
—RELATED: ARE ACTUARIAL EXAMS HARD?
So, I can’t give you a definitive answer but actuaries do get paid well and you should refer to this survey distributed by DW Simpson, an actuarial recruitment company, to see how much actuaries make.
As a quick summary, as of 2016, the survey says that actuaries just starting out with just exam P passed and no experience usually make about $42,000 and $65,000 USD annually while FSAs (Fellows of the Society of Actuaries) or FCASs (Fellows of the Casualty Actuarial Society) with over 20 years of experience make between $152,000 to $534,000 (and I’m sure there’s some making more!).
So as you can see, the salary ranges for actuaries has a lot of different variables but the survey will give you a general idea of what you could expect to earn throughout your years of being an actuary.
On top of salary, actuaries often get company benefits and bonuses as well which make up a significant portion of your annual pay.
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