How long does it take to become an actuarial analyst?

It takes 7 to 10 years to become an actuarial analyst. This time includes the time necessary to achieve the educational credentials and the time needed to pass the many exams needed to become an actuarial analyst.

Is an actuarial analyst an actuary?

No, an actuarial analyst is not an actuary. A person does not become an actuary until they have taken the right exams and become fully credentialed. An actuarial analyst is working to be an actuary but has not completed all of the exams required for certification.

Is an actuary a stressful job?

No, being an actuary is not a stressful job . Working as an actuary pays well, it's low stress, and it's a mentally stimulating and challenging career. There are not many disadvantages in the day-to-day work as an actuary.

Is being an actuarial analyst hard?

Yes, being an actuarial analyst is hard. The hardest part about being an actual analyst is balancing work with studying for the series of 10 exams you must take to become certified. Passing exams is about doing whatever it takes to pass. For some people, it takes 200 hours of studying. For others, it might take 400. And, of course, even if you study enough, you might fail.

Is it hard to become an actuarial analyst?

Yes, it's hard to become an actuarial analyst. The actuarial analyst is considered an entry-level position in the exciting world of becoming an actuary. To be considered for this position, most candidates must pass around 3 to 4 of the ten exams required for certification.

What is the highest-paid actuary?

The highest-paid actuary works in casualty insurance. The average salary for a casualty insurance actuary is $556,000 a year. Following in close second are actuaries in life insurance, which average $528,000 a year. Health insurance actuaries average $423,000 a year, and pension actuaries make approximately $364,000 a year.

What is an actuarial analyst and how to become one

Updated January 8, 2025

4 min read

Quoted Expert

Oliver Keys Jr

An actuarial analyst assesses the financial risks of events such as accidents or natural disasters. They work in industries like insurance, finance, and healthcare to gather and interpret data that helps organizations with risk management decisions. They also create models to forecast future events and financial outcomes, and provide risk mitigation recommendations. An actuarial analyst must possess strong analytical and problem-solving skills, as well as excellent communication skills to present findings to stakeholders.

What general advice would you give to an Actuarial Analyst?

Oliver Keys Jr

Assistant Professor, Website

The power of mentorships and networking early in your career will be beneficial in the long run. Also, understanding that professional skills can be half the battle. Showing up on time, dressing appropriately, and communicating effectively can be challenging for some students. Internships and externships are great for students to get technical and professional experience.

ScoreActuarial AnalystUS Average

Salary

5.9

Avg. Salary $75,593

Avg. Salary $59,228

Stability Level

6.6

Growth Rate 21%

Growth Rate 0.3%

Diversity

2.9

Race

American Indian and Alaska Native 0.00%

Asian 21.95%

Black or African American 3.05%

Hispanic or Latino 4.65%

Unknown 2.97%

White 67.38%

Gender

female 38.89%

male 61.11%

Age - 37

Race

American Indian and Alaska Native 3.00%

Asian 7.00%

Black or African American 14.00%

Hispanic or Latino 19.00%

White 57.00%

Gender

female 47.00%

male 53.00%

Age - 37

Stress Level

6.6

Stress level is high

7.1 - high

Complexity Level

8.7

Complexity Level is advanced

7 - challenging

Work Life Balance

5.8

Work Life balance is fair

6.4 - fair

What are the pros and cons of being an Actuarial Analyst?

Pros

High earning potential
Strong job security
Opportunities for travel and international work
Strong emphasis on work-life balance
Opportunities for remote work and flexible schedules

Cons

Long hours, especially during busy seasons
Highly competitive job market at entry level
Extensive education and certification requirements
Risk of becoming pigeonholed into a narrow area of specialization
Limited opportunities for networking outside of the actuarial profession

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Key steps to become an actuarial analyst

Explore actuarial analyst education requirements

Most common actuarial analyst degrees

Bachelor's

80.8 %

Master's

15.6 %

Associate

2.1 %

Start to develop specific actuarial analyst skills

Skills	Percentages
Statistical Analysis	13.94%
SAS	10.81%
Statistical Data	10.62%
VBA	6.21%
Actuarial Models	5.08%

Complete relevant actuarial analyst training and internships

Accountants spend an average of 4-10 years on post-employment, on-the-job training. New actuarial analysts learn the skills and techniques required for their job and employer during this time. The chart below shows how long it takes to gain competency as an actuarial analyst based on U.S. Bureau of Labor Statistics data and data from real actuarial analyst resumes.

Research actuarial analyst duties and responsibilities

Lead an experience study on morbidity assumptions to more accurately identify LTC rider risks.
Lead actuarial intern on automating internal reports, help intern write SQL queries and VBA macros.
Develop SAS programs to automate analysis correcting extant errors resulting from arduous manual processes.
Evaluate capitation agreements between provider groups and manage care plans, including commercial and Medicare populations.

Prepare your actuarial analyst resume

When your background is strong enough, you can start writing your actuarial analyst resume.

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