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The differences between actuarial analysts and health actuaries can be seen in a few details. Each job has different responsibilities and duties. Additionally, a health actuary has an average salary of $99,496, 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 health actuary are FSA, term care, and GAAP.
| Actuarial Analyst | Health Actuary | |
| Yearly salary | $75,593 | $99,496 |
| Hourly rate | $36.34 | $47.83 |
| Growth rate | 21% | 21% |
| Number of jobs | 41,511 | 48,396 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 81% | Bachelor's Degree, 71% |
| 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.
Health Actuaries are responsible for assessing financial risk and calculating premium costs for healthcare and insurance companies. They are involved in analyzing statistical data and marketplace trends, reviewing plan reserves, preparing rate files, and creating aggregated health data-based monthly reports. A Health Actuary will study and interpret medical patterns to uncover opportunities to manage risk. They must keep abreast of current legislation to ensure the company abides by legal guidelines. A good Actuary uses a combination of professional judgment, logical reasoning, and mathematical modeling.
Actuarial analysts and health actuaries have different pay scales, as shown below.
| Actuarial Analyst | Health Actuary | |
| Average salary | $75,593 | $99,496 |
| Salary range | Between $55,000 And $103,000 | Between $49,000 And $201,000 |
| Highest paying City | Seattle, WA | - |
| Highest paying state | Washington | - |
| Best paying company | Nationwide Financial | - |
| Best paying industry | Finance | - |
There are a few differences between an actuarial analyst and a health actuary in terms of educational background:
| Actuarial Analyst | Health Actuary | |
| Most common degree | Bachelor's Degree, 81% | Bachelor's Degree, 71% |
| Most common major | Mathematics | Mathematics |
| Most common college | University of Notre Dame | Stanford University |
Here are the differences between actuarial analysts' and health actuaries' demographics:
| Actuarial Analyst | Health Actuary | |
| Average age | 39 | 39 |
| Gender ratio | Male, 61.1% Female, 38.9% | Male, 93.3% Female, 6.7% |
| 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, 2.9% Unknown, 2.9% Hispanic or Latino, 3.4% Asian, 16.5% White, 74.3% American Indian and Alaska Native, 0.0% |
| LGBT Percentage | 18% | 18% |