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The differences between actuarial analysts and pricing actuaries 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 $65,091 average annual salary of a pricing actuary.
The top three skills for an actuarial analyst include statistical analysis, SAS and statistical data. The most important skills for a pricing actuary are product development, annuities, and level changes.
| Actuarial Analyst | Pricing Actuary | |
| Yearly salary | $75,593 | $65,091 |
| Hourly rate | $36.34 | $31.29 |
| Growth rate | 21% | 21% |
| Number of jobs | 41,511 | 15,444 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 81% | Bachelor's Degree, 85% |
| 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.
Pricing Actuaries are statisticians who work in either the financial or insurance industries. This position uses extensive math skills to determine the price of products by analyzing data and calculating risks. Pricing actuaries' goal is to ensure the coverage of the company's expenses includes employee retirement or claims. Their job is to estimate claim payout probabilities, handle state filing requirements, and collect statistical data. Also, they contribute to policies for new products and maximize returns. These actuaries must have a bachelor's degree in statistics, math, and actuarial science.
Actuarial analysts and pricing actuaries have different pay scales, as shown below.
| Actuarial Analyst | Pricing Actuary | |
| Average salary | $75,593 | $65,091 |
| Salary range | Between $55,000 And $103,000 | Between $31,000 And $132,000 |
| Highest paying City | Seattle, WA | New York, NY |
| Highest paying state | Washington | New York |
| Best paying company | Nationwide Financial | AIG |
| Best paying industry | Finance | - |
There are a few differences between an actuarial analyst and a pricing actuary in terms of educational background:
| Actuarial Analyst | Pricing Actuary | |
| Most common degree | Bachelor's Degree, 81% | Bachelor's Degree, 85% |
| Most common major | Mathematics | Mathematics |
| Most common college | University of Notre Dame | University of Pennsylvania |
Here are the differences between actuarial analysts' and pricing actuaries' demographics:
| Actuarial Analyst | Pricing Actuary | |
| Average age | 39 | 39 |
| Gender ratio | Male, 61.1% Female, 38.9% | Male, 71.4% Female, 28.6% |
| 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, 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% |