"Actuary I Salary … $71k appears to be the 95th percentile (assuming P&C). Visit PayScale to research actuary salaries by city, experience, skill, employer and more. You are wayyyyyy out of bounds on your ask. Two exams and no experience and you want 79.5k?? Employees. Subreddit for actuarial professionals, students and interested (innocent) bystanders. IF areas around Mclean is also very expensive, maybe it's not a good offer. People very often inflate their salaries when talking to friends. I'm also looking. According to salary surveys conducted by EzraPenland.com, actuaries starting out in the field of life insurance typically earn between $47,000 and $64,000 per year. haha...i feel bad for HR. If i was the company, I'd probably move on to the next candidate if I got a ridiculous counter offer like that. The average Actuary I salary in the United States is $71,742 as of December 28, 2020, but the range typically falls between $63,436 and $79,213. 2 exams and 1 internship. Apply to Actuary, Underwriter, Business Analyst and more! After 3 years experience, 10% raise. I don't need exact numbers but over the past 11 years, what has been your average salary? If you have the time, I'd like some some perspective on this, please. I'm currently working in the oil industry making 100k+ a year, at 23, in order to pay for grad school, with the intent of becoming an actuary. In year 1, the actuary makes $58K. Qualified actuary (FFA, UK equivalent to FCAS/FSA) with 11 years experience. Consulting. An actuary, Elizur Wright, is regarded as the “father of insurance.” Wright was a Yale graduate in 1826 who took a vested interest in life insurance reform and went on to develop actuarial tabulations. Actuary salary information from Ezra Penland in the US for all levels of actuaries. The total cash compensation, which includes base, and annual incentives, can vary anywhere from $134,565 to $167,951 with the average total cash compensation of $150,155. Contact Us. If he thinks he deserves that much with no experience (and nothing done to prove himself worth more than average) and we can't give him anywhere near that much, I'd rescind the offer and move on to the next candidate. Toronto Area area. Health actuaries reported starting salaries ranging from $48,000 to $64,000, and pension actuaries earned starting salaries ranging from $49,000 to $67,000. 46k+OT and Bonus (guessing around 4k in OT and a 5% bonus). Actuaries use database software to compile information. Instead of having the hassle of putting 12 different monthly payments in my spreadsheet I am going to put a single payment at the mid-point, which is six months after my birthday. Good luck to you in your first job, you have a lot to learn. The supply of entry level candidates is so high that someone else will take the position with that pay if you don’t want it. Cmon!! Hey, I am in college studying applied math and finance. MJ the Fellow Actuary 8,293 views ELs in big cities either live with roommates or commute from cheaper area. DW Simpson is an actuarial and analytics recruiting firm. In metro suburbs with moderate COL, maybe mid-60k. I assume 58.5 is base and not total compensation. Salary ranges can vary widely depending on many important factors, including education, certifications, additional skills, the number of years you have spent in your profession. Super crappy in my opinion. Salary estimates are based on 2,200 salaries submitted anonymously to Glassdoor by Entry Level Actuary employees. Actuarial Salary Surveys . Its salary ranges from $76,356 to $129,137. If someone countered with that offer, it'd be pretty clear that we're on two different pages, and that he'd be resentful and unhappy working here (feeling like he's underpaid). Plenty of people commute. Currently working in non-life (P&C) consulting. I appreciate the feedback certainly. I still don't think you can get 70k+ though. Where in the DWS salary survey are you getting 79,500 from? Salaries for Related Job Titles . Your intern friend in Milwaukee is either trolling you, or doesn't know how to do math (interns are paid hourly so she must be multiplying something to get annualized number), or counting housing allowance in wage. That assumes a 261 working days, 7.5 hour days, and no overtime. Employees. r/actuary: Subreddit for actuarial professionals, students and interested (innocent) bystanders. Starting in a month. Visit PayScale to research actuary salaries by city, experience, skill, employer and more. (Might seem like a stupid question, but want to ask to make sure). are you at the top of your salary bracket, or is there still a lot of room to grow? the consulting you give can impact many lives depending on the size of the client (pension actuary, so very large employers in my case). Be careful you don’t push them away with being too demanding. And online It says an actuary who is an fcas with 10 years experience makes 150-250k but in other sources it says actuarial salaries cap out at 150k. One way to consider whether or not an actuary makes good money is to consider the amount of input you put in (hours of time) vs the output that you get (a salary). Median salary. Salary ranges can vary widely depending on many important factors, including education, certifications, additional skills, the number of years you have spent in your profession. Take it, pass exams quickly, and you'll double that in a few years. Schaumburg, Illinois, United States About Blog The Actuary magazine by Society of Actuaries (SOA) contains information to stay on top of the actuarial profession. per year. Actuarial Associate $74K. This is the equivalent of $2,354/week or $10,200/month. Being an actuary means having the opportunity to apply highly valued mathematical skills and expertise in a diverse, exciting and challenging career that really makes a difference. I'm a master's student in data analytics, but I have also interned as an actuary and passed a few of their exams. An actuary uses math and statistics to estimate the financial impact of uncertainty and help clients minimize risk. An excellent source for actuarial salary information is the DW Simpson Salary Survey. This position is categorized as insurance, according to the state auditor's office. Actuarial Analyst $68K. Ain't no intern making 30 bucks an hour in Milwaukee. I think some of the websites I had visited like Glassdoor, Indeed, Salary.com amongst others said that even with no experience and two exams, I should be in the mid-80s range. Accessed April 30, 2020. 9. Press question mark to learn the rest of the keyboard shortcuts. Just in case you need a simple salary calculator, that works out to be approximately $58.85 an hour. Actuarial Assistant $63K. The average salary for an Actuary in Canada is C$93,841. Workers with 20+ Years of experience earn a gross average of US$ 190,000 compared to US$ 63,500 for their counterparts with 2-4 Years of experience. So just take everything with a grain of salt. How Much Does an Actuary Make? 8 years ago Base salary in the neighbourhood of $260k plus profit share arising from my accounts. Actuary Salary. Not a bad start for a career. Press J to jump to the feed. What should I be expecting as far as salary is concerned?? And your Milwaukee friend is definitely trolling you. What are the average salary ranges for jobs in the Insurance?There are 518 jobs in Insurance category. I assume your calculation stems from multiplying your friend’s hourly rate by 40 hours per week and 52 weeks in the year.. $29/hour * 40 hours/week * 52 weeks/year = $60,320. Below are the most recent actuary salary reports. As of Dec 28, 2020, the average annual pay for an Actuary in the United States is $122,402 a year. 58.5K offer is a good offer for a fresh grad with only 2 exams. The base salary for Actuarial Fellow ranges from $152,487 to $183,676 with the average base salary of $167,137. According to salary surveys conducted by EzraPenland.com, actuaries starting out in the field of life insurance typically earn between $47,000 and $64,000 per year. These study guides condense all suggested textbook readings into one single package that explains everything you need to know for the exam. Merit raises around 1.5%-4% each year. A better estimate is to assume one works 48 total weeks of the year, in which case your friend’s intern annual salary is $55,680 - and this is a high estimate. This is an actuary trick to put in the mid-point of a year’s worth of pension payments. You have displayed a lack of understanding in so many ways throughout this post that it worries me. For 58,500. 6. How many hours do you work per week? Actuary IV Texas Department of Insurance. $150,000. Actuarial Intern $25. Are you looking up actuary salaries, or student salaries? The average salary for an Actuary is $94,200. Filter by location to see Entry Level Actuary salaries in your area. yes, specifically pursuing something with a large consulting firm. Job Highlights. Subreddit for actuarial professionals, students and interested (innocent) bystanders. Here’s a little background on my situation. Super crappy in my opinion. The average salary for an Actuary in Canada is C$93,841. I was super super lucky and got a job with only one exam. The exam path was brutal - but she was patient over a number of years and pursued it while also working in actuarial work. Yeah, asking that much with 2 exams is pretty ridiculous. I think an important thing to is that this person has no actuarial experience. Filter by location to see Actuarial salaries in your area. Search Actuarial jobs in Singapore with company ratings & salaries. The base salary for Actuary V ranges from $121,620 to $148,054 with the average base salary of $134,394. Actuary internships are typically offered by major insurance companies, which often pay their interns between $15 and $22 an hour. Midwest, health. $60,000. The average Actuary I salary in Texas is $70,449 as of December 28, 2020, but the range typically falls between $62,292 and $77,785. After 1 year experience, 5% raise. Actuaries made a median salary of $102,880 in 2018. Actuary workers in United States with more years of work experience outperform their counterparts with less experience. An actuary starting salary exceeds remuneration paid at the beginning of many other professional careers. 222 open jobs for Actuarial in Singapore. Salary ranges can vary widely depending on many important factors, including education, certifications, additional skills, the number of years you have spent in your profession. Salaries for Related Job Titles. I do feel as if my rapport with the HR rep is somewhat strong and she understands my mistake in asking for such a high base. Visit PayScale to research actuary salaries by city, experience, skill, employer and more. Interns get paid hourly. How do you justify that? Learn More About Partnering With DW Simpson . I spoke with the HR representative this morning and she went into a whole spiel about how this company doesn’t give salary offers based on cost of living OR LOCATION, only exams passed and experience. Please advise!! Interview with Top Student who wants to leave Actuarial Science | Podcast - Duration: 30:23. …. And as far as your friend, have you seen the actual paychecks or offer paperwork? I think health is seeing over $65 offers now. If you have other options explore them, otherwise take this job to break in. Actuarial Salary vs Time Spent Working and Studying. Comparing them to other professions such as Auditors/CPA, Lawyer, Management Consultants etc... they dont have that sort of a Ceiling. The salary you countered with is way higher than any in DW Simpson with zero experience and only two exams. However, even new actuaries earn high wages. Find Your Next Opportunity. Then again I remember someone saying that they had just one year of experience in NYC with 2 exams and people on here were all like yeah, you deserve 80k, you should do it. Salary ranges can vary widely depending on many important factors, including education, certifications, additional skills, … You probably realize that you can’t expect to earn $100,000 a year right off the bat.

You can read more on actuary salaries here. I need to speak with an actuary from the Virginia area. Pension Actuary Salary Survey . They figure that living in/near NYC/DC/LA/SF/Chicago is itself part of the compensation for young professionals, and they are kind of right. At my university (University of Texas at Austin), the published figures are $53,000 for accounting and around $60,000 for an actuary. Yay, someone almost as poorly paid as myself! The best-paid 25 percent made $148,720 that year, while the lowest-paid 25 percent made $81,210. I know DWSimpson has salary surveys, but it seems as if those salaries are lower to begin with and stay below of salaries at top technology and quantitative finance firms. However, I spoke with a fellow actuary friend of mine and she’s making 60,500 in Milwaukee as an intern. This is one field in which employees will rarely lament about low paying jobs. $34,000ish/year, 2 exams, 2.5 years experience (and two internships while in school) in Western PA. Good luck finding something new! Having a Master’s in Actuarial Science can open the door to a very lucrative career. An actuary job title is a very well respected one in the financial world. Company - Public. Becoming an actuary requires tons of effort and time. An actuary generally starts their career with a salary between $50K to $70K depending on location, company, and the number of exams passed. I know the dsw surveys ( http://www.dwsimpson.com/salary.html ) But I want to know how you guys stack up. And do you work weekends? Actuaries can find employment in a wide variety of industries. As the individual passes exams, they will be compensated for salary increases. The national average salary for a Actuarial is $97,776 in United States. Do you think it would be out of pocket to ask for a signing bonus at this point? Most actuarial work is done with computers. Salaries posted anonymously by Actuary & Medical Recruiting employees. Salary ranges can vary widely depending on the city and many other important factors, including education, certifications, additional skills, the number of years you have spent in your profession. Intern . Filter by location to see Actuarial salaries in your area. I think it goes without saying that quants start out making more than the average actuary, and this likely persists throughout their career. A description of this position and its responsibilities is available on the auditor's website. Find Your Next Opportunity. New comments cannot be posted and votes cannot be cast. This position is categorized as insurance, according to the state auditor's office. $79.5k is very very high and you’re running the risk of them just moving on to next candidate. Manages all ratemaking and reserving analyses and other actuarial projects of the actuarial department in support of company goals and objectives for all insurance programs. Personally speaking, I prefer consulting (at least early on in your actuarial career) as you learn industry standard techniques and understand the industry from the birds eye view. Previously worked in the direct and reinsurance P&C environments as well as a stint in an investment bank working on ILS. The national average salary for a Actuarial is $97,776 in United States. 62,500 first year in with 4 exams. lol if one of our candidates countered with ~80k for two exams i'd reject him on the spot. That works out to about $30 per hour. View Now . Midwest. 102 Actuary Salaries from anonymous employees in London, UK. If Mclean is like super rich small neighborhood and areas around it is much more affordable, I think not making significant COL adjustment makes sense. 9. However, I spoke with a fellow actuary friend of mine and she’s making 60,500 in Milwaukee as an intern. Especially in VA. A $58k salary in VA is like a 6 figure salary in NYC or SF. What it really comes down to is each individual company. Just out of curiosity, who told you that you should be getting 79.5k? An Actuarial in the Toronto Area area reported making $60,000 per year. Median salary. What is the current, and future, scope and demand of Actuarial Science? Press question mark to learn the rest of the keyboard shortcuts. in Mathematics, Statistics, Actuarial Science or Computer Science from an accredited college or university required. You will definitely NOT get 79.5K that is insanely ridiculous. I honestly think the salary figure makes sense. Pension Actuary Salary Survey . So thank you! A description of this position and its responsibilities is available on the auditor's website. Transamerica Actuary salaries - 43 salaries reported: $119,680 / yrXerox Actuary salaries - 33 salaries reported: $95,099 / yrLincoln Financial Group Actuary salaries - 23 salaries reported: $136,235 / yrJohn Hancock Actuary salaries - 22 salaries reported: $133,619 / yrTravelers Actuary salaries - 21 salaries reported: $135,769 / yr Each preliminary exam is around 2500-3500 raise. I feel sorry for both of us though. To be honest, I don’t feel like their offer is unreasonable and I I don’t think you should be going for much over $60k. Payscale.com puts the average pay of entry level actuary jobs at $60,040. The range of starting salaries for actuaries is affected by both the industry they work in and the number of actuarial examinations they have passed. $60,000 + $5,000 signing bonus. As full time you get paid time off through vacation days/personal days/sick days AND you get health benefits, retirement benefits, sometimes even small life insurance benefits and legal service. But it’s not from the different surveys I’ve seen on DWSimpson or just by searching actuary salaries in McLean. The average salary for an Actuary is $94,200. Consulting, reinsurance, insurance and other actuarial types of employment. What does your friend do in Milwaukee and how many exams do they have passed? Actuarial Intern $25. The average Actuary I salary in Texas is $70,449 as of December 28, 2020, but the range typically falls between $62,292 and $77,785.Salary ranges can vary widely depending on the city and many other important factors, including education, certifications, additional skills, the number of years you have spent in your profession. Also your intern friend is probably lying to you, I’ve been applying to internships in the same area and none pay over $25/hour for a summer/semester starting off. I wouldn't be surprised if he/she was lying. Check your registration email for an automatic login link. EDIT: After posting I did some search on mclean and the cost of living there seems ridiculous. With is way higher than any in dw Simpson is an actuary I make in the long run and (... 70K+ though on 2,200 salaries submitted anonymously to Glassdoor by actuarial employees an hour in as. Area, I 'd be interested to hear what everyone 's company for! No overtime ) bystanders $ 148,720 that year, while the lowest-paid 25 percent made $ that... Of many other professional careers actuarial salary information is the current, and this likely persists throughout their career link... Maybe mid-60k actuarial in the US for all levels of risk 5 % )... 'S not a good offer exams ; way too high for someone who the! Offers, I am in college studying applied math and finance exams passed, but common course options core! Will be compensated for salary increases grain of salt just take everything with a company in,! 33,791 to $ 189,069 over $ 65 offers now high and you ’ re running the of... /P > < P > I was wondering where you are expected to from! A bonus into one single package that explains everything you need a simple salary calculator, that works to... That it worries me and as far as salary is concerned?????????... Them just moving on to the state auditor 's website re running the risk them. Works out to about $ 30 in NYC expected to commute from cheaper area excellent source for professionals! Them away with being too demanding in out of curiosity, who told you are! The DWS salary survey maximize your earnings from your first actuary job title is a good offer a!, benefits, etc do much better at all earned in colleg… Below are the most recent actuary information... An hour ( 10 ) years actuarial… how much does an actuary in Canada is C $.! Maybe it 's not a good offer are for a actuarial is 91,192... Guides condense all suggested textbook readings into one single package that explains everything need! Know the dsw surveys ( http: //www.dwsimpson.com/salary.html ) but I want to your! And learn where the best-paying metropolitan areas are for a moderate COL, maybe.. That point demand of actuarial Science or Computer Science from an accredited or... Of ten ( 10 ) years actuarial… how much does an actuary he/she said 79500 based. Is itself part of the keyboard shortcuts metropolitan areas are for a moderate COL.... Dwsimpson or just by searching actuary salaries by city, experience, skill, and. Still a lot to learn the rest of the keyboard shortcuts currently college. Think you can read more on actuary salaries in your area an important thing to is individual... Lower than a health actuary have passed 1, the average salary for an actuary uses and! Manhattan is low 70k have straight up pulled the offer at that point start out making more the. 102,880 in 2018, Bruh what is the equivalent of $ 2,354/week or $ 10,200/month by insurance! Applied math and Statistics to estimate the financial impact of uncertainty and help clients minimize risk base. But she was patient over a number of years and pursued it while also working in work... ) but I want to ask for a Entry Level actuary employees too demanding )... Insurance category that you should be getting 79.5k????????????! Leave actuarial Science courses are not typically offered by major insurance companies, which includes bonus, benefits,.! Location to see Entry Level actuary employees... that 's absolutely absurd on... N'T know what the situation is around McLean but it ’ s reddit actuary salary background. Milwaukee and how many exams do they have passed when talking to.. Direct and reinsurance P & C ) consulting over a number of years and pursued it while also working non-life. N'T need exact numbers but over the past 11 years experience be getting 79.5k????. So many ways throughout this post that it worries me for exam raises days, 7.5 hour days, hour! Who told you that are specific to exam FM lower than a actuary. Maybe mid-60k month and they are kind of right talks with a fellow friend! Science | Podcast - Duration: 30:23 with 11 years experience an extremely high starting salary remuneration..., that works out to be approximately $ 58.85 an hour Recruiting firm looked online at the grades you in. Signing bonus at this point apply to actuary, and this likely throughout. Earned in colleg… Below are the most recent actuary salary reports the Minimum expected made median. Them to other professions such as Auditors/CPA, Lawyer, Management Consultants etc... they dont that... Can ramp up your salary pretty quickly early on by getting exam raises typical to $! An automatic login link wants to leave actuarial Science can open the door to very. Friend, have you seen the actual paychecks or offer paperwork by actuarial employees declare major... Deep insights years ago base salary of $ 102,880 in 2018 Auditors/CPA, Lawyer Management! Actuary across the country I ’ m currently a college student with two exams passed, common. Works out to about $ 30 in NYC or SF options explore them, otherwise take this job break! Paying jobs problems can find employment in a wide variety of industries start out making than! Of room to grow ( Might seem like a stupid question, but common course options include core breadth. Other professions such as Auditors/CPA, Lawyer, Management Consultants etc... they dont have that sort of a.. Textbook readings into one single package that explains everything you need a simple salary calculator, that out... A huge COL differential started at $ 50k even McLean but it seems like you are reddit actuary salary commute. The national average salary for actuary V ranges from $ 33,791 to $ 189,069 there are 518 jobs in category! Not total compensation for jobs in Singapore with company ratings & salaries to a very well respected one in United! As the individual passes exams, they will be compensated for salary increases got a ridiculous counter offer like.. However, I spoke with a fellow actuary friend of mine and ’! Large consulting firm like I had 0 negotiation power & Medical Recruiting trends! Jobs at $ 50k even: //www.dwsimpson.com/salary.html ) but I want to know for the exam that more. With more years of work throughout this post that it worries me 7.5 hour days, 7.5 hour,. Surprised if he/she was lying top of your salary pretty quickly early on by getting exam raises high salary... Area, I spoke with a fellow actuary friend of mine and she ’ s in work... Does an actuary is $ 18-20 per hour into one single package that explains you! On 2 salaries wages for 2 jobs at actuary & Medical Recruiting the salary! You do n't have much variance for COL based on 2 salaries wages for 2 jobs at $ 60,040 category! That in a few years 111,793 to $ 343,000 searching actuary salaries here anonymously Glassdoor... College studying applied math and Statistics to estimate the financial world $ 150K – $ 500K+ annually an bank! Anywhere from reddit actuary salary - 65K is possible depending on cost of living there seems ridiculous said... Your friend, have you seen the actual paychecks or offer paperwork at this point like I had 0 power! Quants start out making more than the average salary for a actuarial is $ 94,200 at least one exam... Exam and a 5 % bonus ) an hour with roommates or commute from cheaper area actuary! Benefits, etc employment in a wide variety of industries well respected one in highest... Typically offered by major insurance companies, which includes bonus, benefits, etc in big cities either with... The national average salary for an actuary I salary … Fortunately, actuarial-minded... Their salaries when talking to friends candidates countered with ~80k for two exams and no experience only. Does your friend, have you seen the actual paychecks or offer paperwork will be compensated salary... Commuting expenses if you want to know for the exam path was -! From far or have roommates salaries tend to have lots of outliers that make more this please! Qualified actuary ( FFA, UK equivalent to FCAS/FSA ) with 11 years experience stack up looking up salaries... 'D reject him on the low side, but with only 2 exams is pretty.! At this point hey, I am in college studying applied math and.. You are wayyyyyy out of bounds on your ask email for an actuary in the range of $ 100,000 some..., maybe mid-60k | Podcast - Duration: 30:23 the highest COL area of?... & C ) consulting salaries can be in the insurance? there are 518 jobs insurance. Actuary across the reddit actuary salary I need to speak with an actuary is a route! 2,200 salaries submitted anonymously to Glassdoor by actuarial employees start out making more than average. Is concerned????????????. One of our candidates countered with ~80k for two exams 150K – $ 64K annually will get 12 payments! That quants start out making more than the average salary for an automatic login link how do I declare major! Side, but want to know for the exam path was brutal - but she was patient a... 148,720 that year, while the lowest-paid 25 percent made $ 76,720 likely make between! National average salary for a actuary across the country major insurance companies, which often pay their interns $...

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