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Actuarial analyst vs actuarial technician

The differences between actuarial analysts and actuarial technicians can be seen in a few details. Each job has different responsibilities and duties. Additionally, an actuarial technician has an average salary of $79,409, which is higher than the $75,593 average annual salary of an actuarial analyst.

The top three skills for an actuarial analyst include statistical analysis, SAS and statistical data. The most important skills for an actuarial technician are projection, financial analysis, and product development.

Actuarial analyst vs actuarial technician overview

Actuarial AnalystActuarial Technician
Yearly salary$75,593$79,409
Hourly rate$36.34$38.18
Growth rate21%21%
Number of jobs41,5117,597
Job satisfaction--
Most common degreeBachelor's Degree, 81%Bachelor's Degree, 72%
Average age3939
Years of experience--

Actuarial analyst vs actuarial technician salary

Actuarial analysts and actuarial technicians have different pay scales, as shown below.

Actuarial AnalystActuarial Technician
Average salary$75,593$79,409
Salary rangeBetween $55,000 And $103,000Between $44,000 And $141,000
Highest paying CitySeattle, WAHartford, CT
Highest paying stateWashingtonNew York
Best paying companyNationwide FinancialTransamerica Corporation
Best paying industryFinanceProfessional

Differences between actuarial analyst and actuarial technician education

There are a few differences between an actuarial analyst and an actuarial technician in terms of educational background:

Actuarial AnalystActuarial Technician
Most common degreeBachelor's Degree, 81%Bachelor's Degree, 72%
Most common majorMathematicsMathematics
Most common collegeUniversity of Notre DameUniversity of Pennsylvania

Actuarial analyst vs actuarial technician demographics

Here are the differences between actuarial analysts' and actuarial technicians' demographics:

Actuarial AnalystActuarial Technician
Average age3939
Gender ratioMale, 61.1% Female, 38.9%Male, 40.2% Female, 59.8%
Race ratioBlack or African American, 3.1% Unknown, 3.0% Hispanic or Latino, 4.7% Asian, 21.9% White, 67.4% American Indian and Alaska Native, 0.0%Black or African American, 3.1% Unknown, 3.0% Hispanic or Latino, 5.1% Asian, 15.8% White, 73.1% American Indian and Alaska Native, 0.0%
LGBT Percentage18%18%

Differences between actuarial analyst and actuarial technician duties and responsibilities

Actuarial analyst example 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.
  • Analyze GAAP financial statements including fair value assessment, shadow adjustments, embed derivatives and unlocking.
  • Integrate rating factors and other data used for GLM motor pricing model by SAS, SQL.
  • Show more

Actuarial technician example responsibilities.

  • Evaluate capitation agreements between provider groups and manage care plans, including commercial and Medicare populations.
  • Design the migration of SAS datasets and other data to new UNIX box.
  • Develop and maintain statistical models to modify policy rates and coverages using SAS.
  • Compile, analyze and verify census data and information need in the calculation of reinsurance premiums.
  • Assist in the creation and preside over presentations, utilizing and maintaining the required projection equipment for meetings.
  • Take ownership of quarterly Medicaid cost benefit ratio dashboard by compiling several state's claim cost/utilization data and premium information.
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Actuarial analyst vs actuarial technician skills

Common actuarial analyst skills
  • Statistical Analysis, 14%
  • SAS, 11%
  • Statistical Data, 11%
  • VBA, 6%
  • Actuarial Models, 5%
  • PowerPoint, 4%
Common actuarial technician skills
  • Projection, 20%
  • Financial Analysis, 16%
  • Product Development, 14%
  • Data Analysis, 9%
  • VBA, 8%
  • SQL, 7%

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