Actuarial analyst vs statistician

The differences between actuarial analysts and statisticians can be seen in a few details. Each job has different responsibilities and duties. Additionally, a statistician has an average salary of $84,726, 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 statistician are data analysis, statistical methods, and statistical techniques.

Actuarial analyst vs statistician overview

	Actuarial Analyst	Statistician
Yearly salary	$75,593	$84,726
Hourly rate	$36.34	$40.73
Growth rate	21%	31%
Number of jobs	41,511	17,782
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 81%	Bachelor's Degree, 63%
Average age	39	37
Years of experience	-	-

What does an actuarial analyst do?

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.

What does a statistician do?

A statistician is an individual who gathers data and uses mathematical techniques to analyze and interpret data and draw conclusions. Statisticians are required to develop survey questionnaires or reporting forms so that they can collect the data they needed. Once the data are available, statisticians must analyze those data by calculating averages, reliabilities, and other specifics to identify trends and relationships. Statisticians must also write reports to explain their findings and recommend how to improve the design of future surveys or experiments.

Actuarial analyst vs statistician salary

Actuarial analysts and statisticians have different pay scales, as shown below.

	Actuarial Analyst	Statistician
Average salary	$75,593	$84,726
Salary range	Between $55,000 And $103,000	Between $60,000 And $119,000
Highest paying City	Seattle, WA	San Francisco, CA
Highest paying state	Washington	California
Best paying company	Nationwide Financial	The Citadel
Best paying industry	Finance	Pharmaceutical

Differences between actuarial analyst and statistician education

There are a few differences between an actuarial analyst and a statistician in terms of educational background:

	Actuarial Analyst	Statistician
Most common degree	Bachelor's Degree, 81%	Bachelor's Degree, 63%
Most common major	Mathematics	Statistics
Most common college	University of Notre Dame	University of Pennsylvania

Actuarial analyst vs statistician demographics

Here are the differences between actuarial analysts' and statisticians' demographics:

	Actuarial Analyst	Statistician
Average age	39	37
Gender ratio	Male, 61.1% Female, 38.9%	Male, 63.2% Female, 36.8%
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, 5.1% Unknown, 5.0% Hispanic or Latino, 7.6% Asian, 22.7% White, 59.4% American Indian and Alaska Native, 0.2%
LGBT Percentage	18%	9%

Differences between actuarial analyst and statistician duties and responsibilities

Actuarial analyst example responsibilities.

Lead an experience study on morbidity assumptions to more accurately identify LTC rider risks.
Lead actuarial intern on automating internal reports, help intern write SQL queries and VBA macros.
Develop SAS programs to automate analysis correcting extant errors resulting from arduous manual processes.
Evaluate capitation agreements between provider groups and manage care plans, including commercial and Medicare populations.
Analyze GAAP financial statements including fair value assessment, shadow adjustments, embed derivatives and unlocking.
Integrate rating factors and other data used for GLM motor pricing model by SAS, SQL.

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Statistician example responsibilities.

Manage Medicaid fraud and abuse portfolios by analyzing medical and pharmacy claims data.
Conduct analysis and large data management using SAS, SQL on UNIX.
Develop advanced statistical analysis using SPSS on quantitative and qualitative data
Conduct statistical analysis including sampling, multivariate analysis, factor analysis, time-series modeling, regression and logistic analysis.
Assist in the preparation of the NDA of Ambien.
Analyze extreme outputs of experimental tests for formulation chemists with JMP.

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Actuarial analyst vs statistician skills

Common actuarial analyst skills

Statistical Analysis, 14%
SAS, 11%
Statistical Data, 11%
VBA, 6%
Actuarial Models, 5%
PowerPoint, 4%

Common statistician skills

Data Analysis, 9%
Statistical Methods, 9%
Statistical Techniques, 7%
Statistical Data, 6%
Logistic Regression, 5%
Research Projects, 5%

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Updated January 8, 2025

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