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The differences between actuarial analysts and analysts can be seen in a few details. Each job has different responsibilities and duties. Additionally, an actuarial analyst has an average salary of $75,593, which is higher than the $73,007 average annual salary of an analyst.
The top three skills for an actuarial analyst include statistical analysis, SAS and statistical data. The most important skills for an analyst are customer service, troubleshoot, and data analysis.
| Actuarial Analyst | Analyst | |
| Yearly salary | $75,593 | $73,007 |
| Hourly rate | $36.34 | $35.10 |
| Growth rate | 21% | 11% |
| Number of jobs | 41,511 | 253,138 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 81% | Bachelor's Degree, 67% |
| Average age | 39 | 44 |
| Years of experience | - | 4 |
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.
Analysts are employees or individual contributors with a vast experience in a particular field that help the organization address challenges. They help the organization improve processes, policies, and other operations protocol by studying the current processes in place and determining the effectiveness of those processes. They also research industry trends and data to make sound inferences and recommendations on what the company should do to improve their numbers. Analysts recommend business solutions and often help the organization roll out these solutions. They ensure that the proposed action plans are effective and produce the desired results.
Actuarial analysts and analysts have different pay scales, as shown below.
| Actuarial Analyst | Analyst | |
| Average salary | $75,593 | $73,007 |
| Salary range | Between $55,000 And $103,000 | Between $53,000 And $99,000 |
| Highest paying City | Seattle, WA | Jersey City, NJ |
| Highest paying state | Washington | New Jersey |
| Best paying company | Nationwide Financial | The Citadel |
| Best paying industry | Finance | Technology |
There are a few differences between an actuarial analyst and an analyst in terms of educational background:
| Actuarial Analyst | Analyst | |
| Most common degree | Bachelor's Degree, 81% | Bachelor's Degree, 67% |
| Most common major | Mathematics | Business |
| Most common college | University of Notre Dame | Northwestern University |
Here are the differences between actuarial analysts' and analysts' demographics:
| Actuarial Analyst | Analyst | |
| Average age | 39 | 44 |
| Gender ratio | Male, 61.1% Female, 38.9% | Male, 52.4% Female, 47.6% |
| 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, 7.4% Unknown, 4.4% Hispanic or Latino, 8.5% Asian, 14.3% White, 65.2% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 18% | 12% |