What level of salary can an Actuary reasonably expect?
According to the U.S. Department of Labor, Bureau of Labor Statistics, Occupational Outlook Handbook, median annual earnings of actuaries were $66,590 in 2000. The middle 50 percent earned from $47,260 to $93,140. The lowest 10 percent had earnings of less than $37,130, while the top 10 percent earned over $127,360. The average salary for actuaries employed by the Federal Government was $78,120 in 2001. According to the National Association of Colleges and Employers, annual starting salaries for bachelor’s degree graduates in actuarial science averaged $45,753 in 2001. Insurance companies and consulting firms give merit increases to actuaries as they gain experience and pass examinations. Some companies also offer signing bonuses for entry level actuaries and/or cash bonuses for each professional designation achieved.
