Actuary
Salary, job outlook, education and requirements
Analyze statistical data, such as mortality, accident, sickness, disability, and retirement rates and construct probability tables to forecast risk and liability for payment of future benefits. May ascertain insurance rates required and cash reserves necessary to ensure payment of future benefits.
Also called: Actuarial Analyst · Actuarial Associate · Actuarial Consultant · Actuary · Consulting Actuary · Health Actuary · Life Actuary · Pricing Actuary
O*NET-SOC 15-2011.00 (Actuaries)
Actuary salary
Wages for actuaries across all employers, 2025 data. The 10th percentile is typical entry-level pay; the 90th percentile reflects the most experienced and highest-paid workers.
National median hourly wage: $62.50.
Actuary pay by state
Ten largest states by population, annual wages.
| State | 10th percentile | Median | 90th percentile |
|---|---|---|---|
| California | $83,510 | $130,510 | $219,490 |
| Texas | $62,870 | $105,020 | $189,320 |
| Florida | $80,450 | $132,110 | $206,700 |
| New York | $82,250 | $156,480 | $277,800 |
| Pennsylvania | $78,050 | $125,040 | $201,820 |
| Illinois | $77,790 | $115,430 | $202,160 |
| Ohio | $77,110 | $110,980 | $175,190 |
| North Carolina | $72,420 | $128,730 | $193,830 |
| Michigan | $65,240 | $100,640 | $170,450 |
Actuary job outlook
- Employment is projected to go from 31,200 jobs in 2025 to 34,100 in 2035 (9% change).
- About 1,500 openings are projected each year, including jobs that open up as workers retire or change occupations.
- CareerOneStop outlook rating: Bright (Rapid Growth).
How to become an actuary
- Typical entry education
- Bachelor's degree
- Work experience
- No work experience
- On-the-job training
- More than 1 year on-the-job training
Education level of current workers
- Some college, no degree.8%
- Associate's degree.3%
- Bachelor's degree64.8%
- Master's degree23.3%
- Doctoral or professional degree10.8%
Related training programs
- Actuarial Science
- Applied Mathematics, General
- Applied Statistics, General
- Computational and Applied Mathematics
- Mathematical Statistics and Probability
- Mathematics and Statistics
- Risk Management
- Statistics, General
- Statistics, Other
What does an actuary do?
Common tasks
- Analyze data to determine premium rates required and cash reserves and liabilities necessary to ensure payment of future benefits.
- Analyze statistical information to estimate mortality, accident, sickness, disability, and retirement rates.
- Design, review, and help administer insurance, annuity and pension plans, determining financial soundness and calculating premiums.
- Collaborate with programmers, underwriters, accounts, claims experts, and senior management to help companies develop plans for new lines of business or improvements to existing business.
- Provide advice to clients on a contract basis, working as a consultant.
- Determine, or help determine, company policy, and explain complex technical matters to company executives, government officials, shareholders, policyholders, or the public.
- Construct probability tables for events such as fires, natural disasters, and unemployment, based on analysis of statistical data and other pertinent information.
- Determine equitable basis for distributing surplus earnings under participating insurance and annuity contracts in mutual companies.
- Determine policy contract provisions for each type of insurance.
- Provide expertise to help financial institutions manage risks and maximize returns associated with investment products or credit offerings.
Most important skills
- Mathematics
- Using math to solve problems.
- Reading Comprehension
- Reading work-related information.
- Critical Thinking
- Thinking about the pros and cons of different ways to solve a problem.
- Active Listening
- Listening to others, not interrupting, and asking good questions.
- Judgment and Decision Making
- Thinking about the pros and cons of different options and picking the best one.
- Complex Problem Solving
- Noticing a problem and figuring out the best way to solve it.
- Speaking
- Talking to others.
- Systems Evaluation
- Measuring how well a system is working and how to improve it.
Actuary certifications
8 of 11 certifications CareerOneStop maps to this occupation. Requirements vary by employer and state.
- LOMA · Advanced
- Casualty Actuarial Society · Advanced
- Society of Actuaries · Core · In demand
- Casualty Actuarial Society · Advanced
- International Foundation of Employee Benefit Plans · Core
- American Society of Pension Professionals and Actuaries · Advanced
- American Society of Pension Professionals and Actuaries · Advanced
- LOMA · Core
See all 11certifications in CareerOneStop's Certification Finder
Actuary jobs
Current federal openings from USAJOBS. For more economics & statistics jobs, including private-sector listings, see the Economics & Statistics jobs hub.
Job data from USAJOBS.gov. Careers.org is not affiliated with or endorsed by OPM.
Related careers
- Personal Financial Advisors
- Financial Risk Specialists
- Financial Analyst
- Compensation and Benefits Specialist
- Accountant
- Economist
- Insurance Underwriter
- Statistical Assistants
- Financial Examiners
- Financial Manager
More economics & statistics careers
This page includes information from CareerOneStop, sponsored by the U.S. Department of Labor, Employment and Training Administration (DOLETA), and the Minnesota Department of Employment and Economic Development (DEED).
Source: CareerOneStop occupation profile for Actuaries. Wages are from the BLS Occupational Employment and Wage Statistics program; projections are national long-term projections.