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The differences between actuarial analysts and actuaries can be seen in a few details. Each job has different responsibilities and duties. Additionally, an actuary has an average salary of $88,255, 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 actuary are risk management, VBA, and GAAP.
| Actuarial Analyst | Actuary | |
| Yearly salary | $75,593 | $88,255 |
| Hourly rate | $36.34 | $42.43 |
| Growth rate | 21% | 21% |
| Number of jobs | 41,511 | 13,566 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 81% | Bachelor's Degree, 83% |
| Average age | 39 | 39 |
| Years of experience | - | - |
Actuarial Analysts use statistical formulas to assess the probability and costs of certain events such as accidents, property damages, injuries, and deaths. They are usually specialized in finance, general insurance, health and care, life insurance, and savings/investment.
An actuary specializes in performing research and analysis to assess risks and help companies prepare for any financial disadvantages or impact it may bring. Their responsibilities revolve around coordinating with different departments to gather accurate data, maintain records of all transactions, evaluate the data through various processes, and develop new strategies to cut down costs and risks. An actuary is also responsible for performing clerical tasks such as producing reports through graphs and charts, preparing presentations, answering inquiries and concern, all while adhering to the company's policies and regulations.
Actuarial analysts and actuaries have different pay scales, as shown below.
| Actuarial Analyst | Actuary | |
| Average salary | $75,593 | $88,255 |
| Salary range | Between $55,000 And $103,000 | Between $52,000 And $147,000 |
| Highest paying City | Seattle, WA | New York, NY |
| Highest paying state | Washington | New York |
| Best paying company | Nationwide Financial | PayPal |
| Best paying industry | Finance | Professional |
There are a few differences between an actuarial analyst and an actuary in terms of educational background:
| Actuarial Analyst | Actuary | |
| Most common degree | Bachelor's Degree, 81% | Bachelor's Degree, 83% |
| Most common major | Mathematics | Mathematics |
| Most common college | University of Notre Dame | University of Notre Dame |
Here are the differences between actuarial analysts' and actuaries' demographics:
| Actuarial Analyst | Actuary | |
| Average age | 39 | 39 |
| Gender ratio | Male, 61.1% Female, 38.9% | Male, 74.3% Female, 25.7% |
| Race ratio | Black 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, 17.3% White, 71.4% American Indian and Alaska Native, 0.0% |
| LGBT Percentage | 18% | 18% |