Actuaries
May 2005 employment and annual earnings distribution, wage and salary workers
Actuaries: 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 premium rates required and cash reserves necessary to ensure payment of future benefits.
Actuaries held about 18,000 jobs in 2004, with 6 out of 10 employed in the insurance industry. A growing number of actuaries work for firms providing a variety of corporate services, especially management and public relations, or for firms offering consulting services. A relatively small number of actuaries are employed by security and commodity brokers or by government agencies.
Median annual earnings of actuaries were $76,340 in May 2004. The middle 50 percent earned between $54,770 and $107,650. According to the National Association of Colleges and Employers, annual starting salaries for graduates with a bachelor’s degree in actuarial science averaged $52,741 in 2005. Insurance companies and consulting firms give merit increases to actuaries as they gain experience and pass examinations. Some companies also offer cash bonuses for each professional designation achieved.
(from the Occupational Outlook Handbook: Actuaries)
See more recent statistics for employed workers below.
May 2005 employment and annual earnings distribution, wage and salary workers
National Occupational Employment and Earnings by Industry (NAICS sector and 3-digit industry group)
| Actuaries | |||||
| Percentile earnings distribution | |||||
| 10th | 25th | 50th | 75th | 90th | |
| Manufacturing employment: 50 mean earnings: $101,460 (EC) (def) (IG) | $39,900 | $58,850 | $114,630 | $139,720 | >$145K |
| Information employment: 80 mean earnings: $99,090 (EC) (def) (IG) | $54,840 | $67,560 | $96,130 | $118,270 | >$145K |
| Finance and Insurance employment: 9,620 mean earnings: $88,540 (EC) (def) (IG) | $45,880 | $57,510 | $81,090 | $109,780 | $144,360 |
| Credit Intermediation and Related Activities employment: 60 mean earnings: $68,910 | $32,840 | $43,460 | $59,930 | $84,040 | $126,410 |
| Securities, Commodity Contracts, and Other Financial Investments and Related Activities employment: 60 mean earnings: n.a. | n.a. | n.a. | n.a. | n.a. | n.a. |
| Insurance Carriers and Related Activities employment: 9,220 mean earnings: $88,310 | $45,810 | $57,410 | $80,900 | $109,490 | $143,940 |
| Funds, Trusts, and Other Financial Vehicles employment: 280 mean earnings: $94,530 | $50,160 | $64,650 | $86,290 | $116,710 | >$145K |
| Professional, Scientific, and Technical Services employment: 3,710 mean earnings: $106,220 (EC) (def) (IG) | $49,680 | $65,620 | $94,080 | $137,750 | >$145K |
| Professional, Scientific, and Technical Services employment: 3,710 mean earnings: $106,220 | $49,680 | $65,620 | $94,080 | $137,750 | >$145K |
| Management of Companies and Enterprises employment: 1,230 mean earnings: $79,060 (EC) (def) (IG) | $43,610 | $53,250 | $70,380 | $99,340 | $128,490 |
| Management of Companies and Enterprises employment: 1,230 mean earnings: $79,060 | $43,610 | $53,250 | $70,380 | $99,340 | $128,490 |
| Administrative and Support and Waste Management and Remediation Services employment: 260 mean earnings: $49,200 (EC) (def) (IG) | $32,160 | $35,830 | $46,150 | $59,290 | $70,000 |
| Administrative and Support Services employment: 260 mean earnings: n.a. | n.a. | n.a. | n.a. | n.a. | n.a. |
| Health Care and Social Assistance employment: 40 mean earnings: $82,380 (EC) (def) (IG) | $48,610 | $61,530 | $71,880 | $93,680 | $122,130 |
| Hospitals employment: 40 mean earnings: $83,700 | $48,270 | $61,840 | $72,400 | $95,350 | $128,670 |
| Federal, State, and Local Government (OES Designation) employment: 690 mean earnings: $76,720 (def) (IG) | $43,450 | $54,120 | $73,040 | $97,200 | $114,190 |
| Federal, State, and Local Government (OES Designation) employment: 690 mean earnings: $76,720 | $43,450 | $54,120 | $73,040 | $97,200 | $114,190 |
source: Occupational Employment Statistics Program; about these estimates
The (EC) links lead to data from the Economic Census from the Census Bureau.
The (def) links lead to 2002 NAICS industry definitions from the Census Bureau.
The (IG) links lead to Industry at a Glance industry profiles from the Bureau of Labor Statistics.