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The differences between actuarial analysts and data 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 $74,342 average annual salary of a data analyst.
The top three skills for an actuarial analyst include statistical analysis, SAS and statistical data. The most important skills for a data analyst are data analysis, python, and power bi.
| Actuarial Analyst | Data Analyst | |
| Yearly salary | $75,593 | $74,342 |
| Hourly rate | $36.34 | $35.74 |
| Growth rate | 21% | 11% |
| Number of jobs | 41,511 | 167,520 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 81% | Bachelor's Degree, 65% |
| 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.
Data analysts are responsible for interpreting the company's statistics and providing sound recommendations to the organization. They manage the organization's data sets, usually related to market performance, finance, or human resources. They are in charge of studying the available data, spotting trends, interpreting what the data and the trends mean, and recommending suggestions that will help the organization perform better. Their recommendations should also be relevant and backed up with strong analyses. Data analysts are expected to have a good grasp of the current market trends in the industry.
Actuarial analysts and data analysts have different pay scales, as shown below.
| Actuarial Analyst | Data Analyst | |
| Average salary | $75,593 | $74,342 |
| Salary range | Between $55,000 And $103,000 | Between $53,000 And $103,000 |
| Highest paying City | Seattle, WA | Richmond, CA |
| Highest paying state | Washington | New Jersey |
| Best paying company | Nationwide Financial | The Citadel |
| Best paying industry | Finance | Finance |
There are a few differences between an actuarial analyst and a data analyst in terms of educational background:
| Actuarial Analyst | Data Analyst | |
| Most common degree | Bachelor's Degree, 81% | Bachelor's Degree, 65% |
| Most common major | Mathematics | Business |
| Most common college | University of Notre Dame | Northwestern University |
Here are the differences between actuarial analysts' and data analysts' demographics:
| Actuarial Analyst | Data Analyst | |
| Average age | 39 | 44 |
| Gender ratio | Male, 61.1% Female, 38.9% | Male, 50.2% Female, 49.8% |
| 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, 7.5% Unknown, 4.4% Hispanic or Latino, 8.5% Asian, 14.5% White, 64.9% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 18% | 12% |