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The differences between actuarial analysts and data scientists can be seen in a few details. Each job has different responsibilities and duties. Additionally, a data scientist has an average salary of $106,104, 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 a data scientist are python, data science, and visualization.
| Actuarial Analyst | Data Scientist | |
| Yearly salary | $75,593 | $106,104 |
| Hourly rate | $36.34 | $51.01 |
| Growth rate | 21% | 16% |
| Number of jobs | 41,511 | 106,973 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 81% | Bachelor's Degree, 51% |
| Average age | 39 | 41 |
| 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.
A Data Scientist analyzes information from multiple sources in order to gain maximum insight that can give the company a competitive advantage. They work in different domains, including manufacturing, healthcare, education, and finance.
Actuarial analysts and data scientists have different pay scales, as shown below.
| Actuarial Analyst | Data Scientist | |
| Average salary | $75,593 | $106,104 |
| Salary range | Between $55,000 And $103,000 | Between $75,000 And $148,000 |
| Highest paying City | Seattle, WA | Richmond, CA |
| Highest paying state | Washington | California |
| Best paying company | Nationwide Financial | The Citadel |
| Best paying industry | Finance | Start-up |
There are a few differences between an actuarial analyst and a data scientist in terms of educational background:
| Actuarial Analyst | Data Scientist | |
| Most common degree | Bachelor's Degree, 81% | Bachelor's Degree, 51% |
| Most common major | Mathematics | Computer Science |
| Most common college | University of Notre Dame | Columbia University in the City of New York |
Here are the differences between actuarial analysts' and data scientists' demographics:
| Actuarial Analyst | Data Scientist | |
| Average age | 39 | 41 |
| Gender ratio | Male, 61.1% Female, 38.9% | Male, 79.6% Female, 20.4% |
| 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, 4.2% Unknown, 5.4% Hispanic or Latino, 6.9% Asian, 18.8% White, 64.2% American Indian and Alaska Native, 0.6% |
| LGBT Percentage | 18% | 9% |