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What is the starting salary for someone in actuary science?

Interested in actuary science, might want to go into the field in the future. #actuary #science #business

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Jeff’s Answer

As with any career, it depends on many factors. I think the state of the job market is a pretty key piece. If tons of companies are short-staffed you have more leverage (so current conditions would warrant a little higher salary than a few years ago in my opinion). Also, if you have an internship and a couple exams under your belt, you will be able to ask for a higher number as well vs. someone who maybe has one exam and no internship. I have never heard of anyone taking as short as 2 years on the CAS side (there are 9 or 10 exams offered twice per year and nobody takes more than a couple in a sitting). I'd say 4-6 is more reasonable. Each exam usually falls around 40% of candidates passing. So it is not uncommon to have to take certain exams a couple times, which is what leads to a higher end to the range. It's hard to give you a precise number for starting salary since it is so company-specific, economic condition-specific, etc. DW Simpson has an annual salary survey with a range of general salary ranges for different types of actuaries if you google that and check it out, could be helpful.
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Andy’s Answer

Actuarial student can start around 60K and make six figure when fully credentialed. Generally it can take two to six years to pass all the exams and the process for threshold for passing is high.


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Lisa G.’s Answer

You might want to check out the website BeAnActuary (http://beanactuary.org) beanactuary. As you probably already know, as an actuary you are a business professional who evaluates risk, often in an insurance company. However, many actuaries instead have nontraditional roles because risk is so much a part of modern life. I work as a subject matter specialists for a large accounting firm. Therefore I deal more directly with businesses than behind the scenes in an insurance company. Depending on what you do, you may have different salary levels and career paths with a mix of how much time you must spend with work projects versus studying for exams versus having free time.


If you like what you see on the website you should know that you need to be a self starter as an actuary, so you can pass the exams required to get the credentials while you are also working in a business environment. But you don't have to go to school beyond an undergraduate degree to get these credentials.

Lisa G. recommends the following next steps:

Check out BeAnActuary.org
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