Being an actuary can be quite a financially rewarding job; learn more about actuarial salaries and what you should expect to be earning as an actuary…
What can I earn?
XpertHR publish salary surveys for a number of professions annually; the following results come from their findings from ‘Salary Survey of Actuaries and Actuarial Students’ October 2012.
Actuaries have continued to defy the economic gloom, with basic salaries rising by an average of 4.5% in 2012. Although this was a fall from the 5.5% increase in 2011, actuaries are still seeing pay rises higher than those in most other professions.
Actuaries at all levels of the profession commonly receive an annual bonus, with 88% receiving a bonus in 2011, averaging £10,818. These are obviously skewed towards more senior staff and partners, but if you push yourself and perform well you can progress quickly, getting your hands on that bonus in the longer term.
We are pleased to report that 100% of the consultancies and companies who took part in the XpertHR survey were recruiting qualified actuaries during Sept ’11 – Sept ’12. So, get your CV up to scratch and investigate your options by looking over the Actuarial Employer Directory.
ACTUARIAL SALARIES BY SENIORITY
|Responsibility level||Average basic salary|
|Senior Actuary/Junior Consultant||£61,552|
|Section Manager/Senior Consultant||£85,178|
|Department Manager/Managing Consultant||£90,846|
|Function Head/Practice Head||£114,950|
|Senior Function Head/Practice Director||£135,742|
|Chief Actuary/Senior Partner||£215,720|
Source: Salary Survey of Actuaries and Actuarial Students 2012-2013, published by XpertHR Salary Surveys