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Actuary

$130,000
median / year
$78,570 – $215,100
what most earn per year (10th–90th percentile)

What the job actually is

Use math and statistics to measure financial risk, pricing insurance and pensions so they stay sound.

You may also see this posted as: Actuarial Analyst, Consulting Actuary, Pricing Actuary, Actuarial Associate, Actuarial Consultant, Corporate Actuary.

Where you work

Offices or remote; at a desk, deep in data and models.

The hours

Usually full-time; regular hours with study time for exams.

The day to day

What you'd actually spend time doing

  • Ascertain premium rates required and cash reserves and liabilities necessary to ensure payment of future benefits.
  • 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.
  • 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.
  • Determine, or help determine, company policy, and explain complex technical matters to company executives, government officials, shareholders, policyholders, or the public.

Good fit if you like…

Conventional

organizing information, following systems, and getting details right

Investigative

solving problems, analyzing evidence, and figuring out how things work

Enterprising

leading, persuading, selling, or turning an idea into action

O*NET job zone 4 of 5

High preparation—usually a four-year degree plus experience—is common.

Work styles that matter most

Attention to DetailCautiousnessDependabilityIntellectual Curiosity

Software that shows up in the work

Examples employers report—not a checklist you must already know.

Microsoft ExcelMicrosoft Office softwareMicrosoft Power BIMicrosoft PowerPointMicrosoft Visual Basic for Applications VBAPython

By the numbers

May 2025 BLS wage & employment data · 2024–34 BLS employment projections.

Median pay
$130,000
per year
Hourly median
$62.50
per hour
What most earn
$78,570–$215,100
yearly, 10th to 90th percentile
Openings a year
~2,400
projected, 2024–34
Outlook to 2034
+21.8%
Much faster than average
Working in the U.S.
26,670
people, nationwide

Openings a year counts new jobs plus the ones that open when people retire or move on — a truer picture of your odds than growth alone.

“Median” means half earn more and half earn less. Your city, employer, and years on the job move it a lot — that is what the 10th-to-90th range shows.

What it pays in your state

Statewide medians are a better starting point than the national number. Your city and experience still matter.

BLS state wage tables

How you get in

Typical starting education

Bachelor's degree

Training path: Math degree + an exam ladder — employers pay per exam passed.

Related work experience: None.

On-the-job training: Long-term on-the-job training.

License or certification

Advancement comes through a series of professional certification exams.

Check the path where you live

Licensing rules and available programs change by state. These federal tools take you to the current official listings.

What it takes

Math skillsAnalytical thinkingProblem solvingAttention to detail

The honest take

Exams instead of grad school: six figures with no debt beyond a bachelor's.

Standard Occupational Classification 15-2011. Pay and employment from the BLS May 2025 OEWS survey; outlook and openings from the 2024–34 employment projections; job context from the Occupational Outlook Handbook; tasks, interests, work styles, software examples, and job zone from O*NET 30.3. See something off? Tell us.