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The differences between actuarial analysts and finance 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 $69,887 average annual salary of a finance analyst.
The top three skills for an actuarial analyst include statistical analysis, SAS and statistical data. The most important skills for a finance analyst are financial analysis, financial models, and financial data.
| Actuarial Analyst | Finance Analyst | |
| Yearly salary | $75,593 | $69,887 |
| Hourly rate | $36.34 | $33.60 |
| Growth rate | 21% | 9% |
| Number of jobs | 41,511 | 138,600 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 81% | Bachelor's Degree, 76% |
| Average age | 39 | 40 |
| 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 finance analyst is responsible for evaluating a company's financial data and historical reports to assess investment opportunities and provide accurate financial statements in support of business strategies and company performance prediction. A financial analyst's duties also include suggesting recommendations to boost operations efficiency and grow revenues, researching the current market performance and economic trends to adjust budget goals as needed, and managing client portfolios. Finance analysts must have excellent critical and analytical thinking skills to identify the best actions for the company's profitability.
Actuarial analysts and finance analysts have different pay scales, as shown below.
| Actuarial Analyst | Finance Analyst | |
| Average salary | $75,593 | $69,887 |
| Salary range | Between $55,000 And $103,000 | Between $46,000 And $104,000 |
| Highest paying City | Seattle, WA | San Francisco, CA |
| Highest paying state | Washington | Connecticut |
| Best paying company | Nationwide Financial | The Citadel |
| Best paying industry | Finance | Finance |
There are a few differences between an actuarial analyst and a finance analyst in terms of educational background:
| Actuarial Analyst | Finance Analyst | |
| Most common degree | Bachelor's Degree, 81% | Bachelor's Degree, 76% |
| Most common major | Mathematics | Business |
| Most common college | University of Notre Dame | University of Pennsylvania |
Here are the differences between actuarial analysts' and finance analysts' demographics:
| Actuarial Analyst | Finance Analyst | |
| Average age | 39 | 40 |
| Gender ratio | Male, 61.1% Female, 38.9% | Male, 56.2% Female, 43.8% |
| 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, 5.6% Unknown, 4.5% Hispanic or Latino, 7.7% Asian, 14.1% White, 68.0% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 18% | 7% |