Actuaries
Also called: Actuarial Analyst, Actuarial Associate, Actuarial Consultant, Actuarial Mathematician, Actuarial Specialist, Actuary, Annuity Analyst, Consulting Actuary
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.
What actuaries do
Typical tasks
- Analyze data to determine premium rates required and cash reserves and liabilities necessary to ensure payment of future benefits.
- 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.
- 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.
- Provide advice to clients on a contract basis, working as a consultant.
- Determine, or help determine, company policy, and explain complex technical matters to company executives, government officials, shareholders, policyholders, or the public.
- Construct probability tables for events such as fires, natural disasters, and unemployment, based on analysis of statistical data and other pertinent information.
- Determine equitable basis for distributing surplus earnings under participating insurance and annuity contracts in mutual companies.
- Determine policy contract provisions for each type of insurance.
- Provide expertise to help financial institutions manage risks and maximize returns associated with investment products or credit offerings.
- Negotiate terms and conditions of reinsurance with other companies.
- Testify before public agencies on proposed legislation affecting businesses.
Typical path into the job (BLS)
Actuaries salary
The median annual wage for actuaries is $130,000 (BLS OEWS May 2025; BLS Employment Projections 2025–35, national). The lowest 10 percent earn less than $78,570 and the highest 10 percent earn more than $215,100. The mean annual wage is $141,480.
The mean hourly wage of $68.00 is 9.4× the federal minimum wage of $7.25. State minimums are higher in most large states. Minimum wage by state →
How does your pay compare with people your age?
Your numbers are not sent or stored. The comparison uses this occupation's BLS wage percentiles, adjusted for age with BLS median weekly earnings by age group (Q3 2026).
Pay by percentile
Annual wage percentiles from the BLS Occupational Employment and Wage Statistics (OEWS). Percentiles are a good proxy for pay by experience.
Projected pay for Actuaries (3, 5 and 10 years)est.
Today $130,000 → in 3 years $140,200 → in 5 years $147,400 → in 10 years $167,100 (10-year range $143,700–$194,000). The model assumes pay growth of +2.5% per year.
What drives the annual growth rate
Projected pay = current pay × (1 + annual growth)^years. The annual growth rate starts from a base wage-growth rate and adds or subtracts labor demand (BLS projected employment growth), wage momentum and AI replacement risk for each occupation. Projections are not guarantees. How it is calculated →
Outlook score for Actuaries
Each component is a percentile rank among all occupations in the same country (0–100). Weights: labor demand 25, wage momentum / openings 15, pay level 15, AI resistance 25, aging workforce 10 (Japan only), entry barrier 10.
Will AI replace Actuaries? AI replacement risk
How AI is changing this job
A written analysis for this occupation is being prepared.
AI replacement risk compares the parts of a job that are easy to hand to AI or software (processing information, documentation, repetitive computer work) with the parts that are hard to automate (physical work, working closely with people, judgment in unpredictable settings), using O*NET work activities, work context, skills and knowledge. The result is a relative position among all occupations in the country, scaled to 0–100%. Methodology →
Labor demand for Actuaries
Employment projections are from the BLS Employment Projections program (2025–35). Annual openings include both new jobs and replacement of workers who leave the occupation.
The same job in Japan
| Actuaries United States | アクチュアリー Japan | |
|---|---|---|
| Median / average pay | $130,000 | ¥11.35M ≈ $72,155 |
| Pay in 10 years (est.) | $167,100 | ¥12.41M |
| Outlook score | 57 | 40 |
| AI replacement risk | 74% High | 84% Very high |
| Workers | 27K | — |
Matched by occupation (SOC code). Yen converted at 157.25 JPY/USD for reference; Japanese figures are averages, U.S. figures are medians, and the surveys define occupations differently.
Skills, education and requirements for Actuaries
Key skills
O*NET skill level ratings (0–7).
Key knowledge areas
What the work involves
Important abilities
Training before entry
Related work experience
Job Zone 4 — considerable preparation needed (O*NET)
Difficulty of entry: ★★★☆☆ Moderate (from education, training, experience and Job Zone)
How to become actuaries
A step-by-step guide for this occupation is being prepared. The education, training and experience data above show the typical path.
Career path and how to earn more as actuaries
Career-path guidance is being prepared. Pay by percentile is shown in the Pay section.