Being an actuary has many benefits and one those being excellent financial reward. Here we, along with Hays, have provided an overview of the expected earnings for actuaries, from graduates through to senior partners.

Throughout 2021, salaries have risen by a similar rate at all levels. Hiring has remained steady, and the starting pay for graduates is higher than the UK average salary. This rises as you become qualified and, as you can see, for more senior levels, salaries can get into the six figure bracket.

There is more of a need for insurance in the current climate. With the rise of environmental and cyber security issues, this has led to an increased demand for actuaries and a wide range of opportunities to work in different areas. For example, an actuarial consultant can progress to a senior risk management role with a steady salary increase as they work their way up.

An actuarial career can be quite demanding as you begin, however it is bolstered by excellent pay and benefits packages, on-the-job training and generous support from your employer. Also, in the past decade, actuaries at all levels of the profession, particularly more senior roles, can also receive a generous annual bonus depending on the company.

A career as an actuary is a desirable one and is often referred to as one of the best professions to work in. There are many reasons for this (many we have already outlined) including salary, job security and satisfaction. That’s not to mention that many finance companies tend to offer extensive benefits such as private health care, gym memberships and life assurance.

Actuarial Salaries by Experience Level
Level Average Salary
Graduate £35,500
Actuarial Analyst/Consultant £43,000
Senior Actuarial Analyst/Consultant £75,500
Manager £75,500
Senior Manager £102,500
Director £145,000
Chief Actuary £163,000
Chief Risk Officer £199,000
Associate Partner £214,000
Partner £276,000

Source: Hays UK Salary & Recruiting Trends 2022 Guide

About the Author

  • Name: Hays

Hays is the leading global specialist recruitment group, and the market leader in places such as the UK, Germany and Australia. They are the experts in recruiting qualified, professional and skilled people across a wide range of specialised industries and professions.

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