Actuaries can earn well above the national median, but pay depends on credentials, industry, location, and responsibility. This 2026 refresh shows the official wage baseline and how to benchmark live roles.
2026 actuary pay benchmark
Short answer: actuaries make strong professional salaries, but there is a wide spread between entry-level analysts and credentialed leaders. The BLS reports a national median annual wage of $125,770 for actuaries, with the lowest 10 percent below $75,240 and the highest 10 percent above $206,430.
| Pay marker | BLS figure | How to interpret it |
|---|---|---|
| Lower 10 percent | Below $75,240 | Often closer to early-career, lower-cost, public-sector, or less credentialed roles. |
| Median actuary | $125,770 | A useful national midpoint, not a guarantee for a new graduate. |
| Top 10 percent | Above $206,430 | Usually reflects senior ownership, credentials, leadership, consulting, or scarce expertise. |
For a current market check, compare this national baseline with Acturhire salary insights and live actuarial job postings. Salary ranges on postings can move faster than official national datasets, especially for remote roles and hard-to-fill specialties.
If you're considering a career in actuarial science, one of the most important factors to consider is your potential earnings. Actuaries are highly valued professionals who analyze and manage risk across various industries and functions. But is an actuarial career worth it from a financial perspective? In this blog post, we'll explore the earnings potential of actuaries in different industries and help you determine whether you're being paid fairly based on your experience and qualifications.
Understanding Actuarial Salaries
Actuarial salaries can vary significantly depending on industry, location, years of experience, and level of education. There is also a difference in earning potential across roles in Property & Casualty (P&C) insurance, where actuaries typically hold a qualification through the Casualty Actuarial Society (CAS), and life, health insurance, and retirement where actuaries typically qualify through the Society of Actuaries (SOA).
DW Simpson produce data each year that summarizes salary and bonus data from many industries across different factors. Below we summarize some of the trends to help you understand your earning potential as an actuary.
Actuarial Salaries for Students
An actuary’s compensation can increase quite quickly in the first few years of an actuarial career. Below are expected base salaries for actuarial students.
|
Years of Experience |
Property & Casualty (P&C) |
Health Insurance |
Pensions |
|
0 |
$ 77,349 |
$ 75,486 |
$ 77,446 |
|
2 |
$ 85,271 |
$ 83,046 |
$ 81,487 |
|
4 |
$ 93,193 |
$ 90,606 |
$ 85,527 |
|
6 |
$ 101,114 |
$ 98,167 |
$ 89,568 |
|
8 |
$ 109,036 |
$ 105,727 |
$ 93,608 |
Key Takeaways
- Highest Earning Potential: P&C actuaries generally earn the highest, followed closely by health insurance actuaries.
- Exam Progression: Passing actuarial exams quickly is crucial to increasing earning potential, though many part-qualified actuaries still find lucrative roles.
Associate Level Actuarial Salaries
After achieving an ACAS (CAS) or ASA (SOA) designation, salaries increase significantly. Below are the expected base salaries for associate-level actuaries:
|
Years of Experience |
Property & Casualty (P&C) |
Health Insurance |
Pensions |
|
0 |
$ 77,349 |
$ 75,486 |
$ 77,446 |
|
2 |
$ 85,271 |
$ 83,046 |
$ 81,487 |
|
4 |
$ 93,193 |
$ 90,606 |
$ 85,527 |
|
6 |
$ 101,114 |
$ 98,167 |
$ 89,568 |
|
8 |
$ 109,036 |
$ 105,727 |
$ 93,608 |
There is also a significant bonus component to actuaries’ total compensation once they hit this level. Below is the typical bonus for an ACAS or ASA-credentialed actuary.
|
Years of Experience |
Property & Casualty ACAS |
Health Insurance ASA |
Pensions ASA |
Life Insurance ASA |
|
3 |
$ 9,151 |
$ 9,273 |
$ 2,464 |
$ 9,024 |
|
6 |
$ 14,273 |
$ 12,939 |
$ 9,029 |
$ 15,947 |
|
10 |
$ 21,102 |
$ 17,826 |
$ 17,783 |
$ 25,177 |
|
15 |
$ 29,638 |
$ 23,936 |
$ 28,725 |
$ 36,715 |
|
20 |
$ 38,175 |
$ 30,045 |
$ 39,667 |
$ 48,253 |
Key Takeaways
- Bonuses become a more significant part of total compensation as actuaries gain experience.
- P&C and Health insurance actuaries consistently earn higher bonuses than those in pensions or life insurance.
Fully Credentialed Actuarial Salaries
The final step on the way to becoming a fully fledged actuary is obtaining the FCAS or FSA qualification. Below are typical salaries for actuaries who have completed all exams and are fully credentialed.
|
Years of Experience |
Property & Casualty FCAS |
Health Insurance FSA |
Pensions FSA |
Life Insurance FSA |
|
5 |
$ 153,063 |
$ 141,400 |
$ 136,589 |
$ 149,610 |
|
8 |
$ 167,047 |
$ 155,678 |
$ 144,184 |
$ 159,509 |
|
10 |
$ 176,369 |
$ 165,197 |
$ 149,247 |
$ 166,109 |
|
15 |
$ 199,675 |
$ 188,995 |
$ 161,906 |
$ 182,609 |
|
25 |
$ 246,287 |
$ 236,590 |
$ 187,223 |
$ 215,608 |
Salaries are higher again than the ASA/ACAS level. This highlights the importance of passing exams but also the high demand for actuarial professional who have completed the exam process. Exams are often seen as providing a strong knowledge base from which actuaries can be trusted to contribute to a company’s financial success.
FCAS actuaries are the best paid with strong salaries in health and Life insurance. Pensions salaries are again considerably lower than the other disciplines.
Bonuses become an even more important part of an actuary’s compensation at the FSA/FCAS level. Below are the typical bonuses reported to DW Simpson.
|
Years of Experience |
Property & Casualty FCAS |
Health Insurance FSA |
Pensions FSA |
Life Insurance FSA |
|
5 |
$ 23,447 |
$ 22,596 |
$ 20,261 |
$ 26,293 |
|
8 |
$ 30,356 |
$ 28,479 |
$ 25,060 |
$ 34,309 |
|
10 |
$ 34,962 |
$ 32,402 |
$ 28,259 |
$ 39,654 |
|
15 |
$ 46,478 |
$ 42,209 |
$ 36,258 |
$ 53,016 |
|
25 |
$ 69,509 |
$ 61,822 |
$ 52,255 |
$ 79,739 |
Key Takeaways
- P&C actuaries lead in both base salary and bonuses.
- Life and Health insurance actuaries earn competitive compensation, while pensions lag slightly behind.
- Once fully qualified, actuaries can expect very strong bonuses across the board. This will depend on company performance but typically provides a larger proportion of the total compensation at senior levels.
SOA vs CAS Salary: Which Path Pays More?
When comparing SOA and CAS credentials, CAS actuaries often earn slightly more due to the demand for their expertise in P&C insurance. However, SOA actuaries in Life and Health insurance can also achieve strong earning potential, especially as they gain experience.
Other Drivers of Actuarial Salaries
Location
Salaries vary significantly by location. High-cost-of-living areas, like New York City, offer higher salaries but come with increased living expenses. Remote work trends may allow actuaries to earn big-city salaries while living in more affordable locations.
Performance-Based Bonuses
Many companies reward strong personal performance with transparent bonus structures, especially at senior levels.
Salary Transparency Laws
New pay transparency laws mean more companies are posting salary ranges in job listings. This gives actuaries an opportunity to benchmark their pay against others in the market.
Other Resources for Actuarial Salaries
In addition to salary surveys such as this one, new pay transparency laws mean that more companies than ever are posting salary ranges for their open job positions. This is great insight for actuaries who can benchmark their salary against similar roles being advertised at other companies. At Acturhire we are passionate about salary openness and we allow candidates to filter live jobs based on salary range to find the best paying roles to apply for.
For more up to date information on salaries available in 2023 and 2024, check out our analysis of Q3 2023 salaries and our predictive model on available salaries from the end of 2023.
By understanding these salary trends and leveraging resources like Acturhire, you can ensure you’re on track to maximize your earning potential as an actuary.