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Actuary
Salary Survey
Property & Casualty Actuaries
U.S. Dollars ($ 000’s)
February 2010 |
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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 |
46-61 |
50-63 |
54-70 |
— |
— |
— |
— |
— |
| 2 Exams |
48-63 |
54-68 |
59-74 |
63-80 |
— |
— |
— |
— |
| 3 Exams |
51-65 |
57-77 |
63-80 |
66-86 |
72-97 |
70-105 |
— |
— |
| 4 Exams |
54-68 |
60-80 |
66-89 |
71-95 |
74-105 |
90-130 |
— |
— |
| 5 Exams |
— |
65-85 |
71-99 |
76-103 |
81-119 |
94-140 |
— |
— |
| 6 Exams |
— |
70-88 |
79-111 |
85-120 |
92-130 |
108-163 |
— |
— |
| ACAS |
— |
80-105 |
84-119 |
90-135 |
101-155 |
120-185 |
130-255 |
145-275+ |
| 8 Exams |
— |
— |
89-127 |
105-155 |
108-168 |
130-205 |
— |
— |
| FCAS |
— |
— |
— |
114-175 |
127-200 |
145-290 |
155-415 |
160-440+ |
Footnotes:
- During the period of September 2007 to February 2010, the average
earnings of P&C Actuaries increased by 2.36% on an annualized basis. The
annualized increases for Entry-Level Analysts (1-4 Exams) increased by only
1.49%, while comparable earnings figures for FCAS's with 20+ years of experience
increased by 3.80%.
- The downturn in the U.S. employment market began in early
2008. As the downturn has intensified, Actuarial earnings have moderated,
especially bonuses. If the trend should continue, earnings could show very
low or no increases in 2010 and 2011. Also, entry-level earnings could remain
flat or actually decline slightly in 2010 and 2011, because of the reduced
demand for entry-level Actuarial Analysts.
- 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 Actuarial fields (Life, Health, Pension and P&C) 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,
FSA 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 or FSA)
who, prior to 2000, chose one particular career path. Past
results are no assurance of future results.
Copyright © 2009-2010 ActuarySalarySurvey.com |
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