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Actuary
Salary Survey
Property & Casualty Actuaries
U.S. Dollars ($ 000’s)
September 2007 |
| |
0-1
Year |
1-3 Years |
3-5 Years |
5-7 Years |
7-10 Years |
10-15 Years |
15-20 Years |
20+ Years |
| 1 Exam |
45-60 |
48-62 |
53-69 |
— |
— |
— |
— |
— |
| 2 Exam |
46-62 |
53-66 |
56-72 |
61-79 |
— |
— |
— |
— |
| 3 Exam |
49-64 |
56-70 |
61-79 |
64-85 |
69-95 |
53-104 |
— |
— |
| 4 Exams |
53-67 |
59-77 |
64-89 |
70-93 |
76-102 |
87-126 |
— |
— |
| 5 Exams |
— |
64-83 |
70-98 |
75-101 |
81-114 |
93-138 |
— |
— |
| 6 Exams |
— |
69-87 |
79-109 |
81-115 |
88-122 |
104-158 |
— |
— |
| 7-ACAS |
— |
75-100 |
84-116 |
90-131 |
100-148 |
115-180 |
125-240 |
140-260+ |
| 8-Exams |
— |
— |
87-124 |
99-141 |
105-160 |
125-193 |
— |
— |
| 9-FCAS |
— |
— |
— |
120-172 |
122-193 |
140-280 |
145-400 |
155-410+ |
Footnotes:
- Compensation packages include Base
Salary plus actual bonuses paid to Property & Casualty (P&C)
Actuaries. Employer contributions to 401-K plans and other similar
benefits are excluded.
- Compensation for less than 1 year of experience excludes sign-on
bonuses.
- This is a partial range of compensation packages; 75% of
Actuaries fall within these ranges. We have excluded both
the top and bottom ranges.
- The largest salary increases go to those who
pass Exams/Courses regularly (at least one per year). The
compensation gap between credentialed and non-credentialed Actuaries
can be significant after 10 to 15 years and even more dramatic
after 15 to 20+ years.
Life, Health and Pension Actuaries
vs. P&C Actuaries
- ActuarySalarySurvey.com does not track
Life, Health or Pension Actuary salaries. We track only Property & Casualty
Actuary compensation.
- Current entry-level salaries of all Actuaries
are almost identical and vary only slightly.
- After 5 years, Life, Health and Pension Actuary
salaries have fallen behind P&C Actuary salaries by 5% to
10%, on average.
- After 10 to 15 years of experience, the compensation
gap gets larger. Life, Health and Pension Actuary salaries
can lag behind P&C Actuary salaries by 15% to 20%.
- After 15 to 20+ years of Actuarial experience, F.S.A.
compensation trails FCAS compensation by as much as 20% to
25%.
Disclaimer:
The analysis of the current compensation gap
between P&C Actuaries
and Life, Health and Pension Actuaries is not intended
to imply that, if you are just starting your Actuarial career, you
will earn more if you choose the P&C career path.
The current salary gap is merely the result of the
salary differences between Fellows (FCAS’s or F.S.A.’s)
who, prior to 1997, chose one particular career path. Past
results are no assurance of future results.
Published with permission from ActuarySalarySurvey.com
Copyright © 2007 ActuarySalarySurvey.com
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