How to hire an actuarial analyst

How to hire an actuarial analyst, step by step

Here's a step-by-step actuarial analyst hiring guide:

• Step 1: Identify your hiring needs
• Step 2: Create an ideal candidate profile
• Step 3: Make a budget
• Step 4: Write an actuarial analyst job description
• Step 5: Post your job
• Step 6: Interview candidates
• Step 7: Send a job offer and onboard your new actuarial analyst
• Step 8: Go through the hiring process checklist

What does an actuarial analyst do?

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1. Identify your hiring needs

   First, determine the employments status of the actuarial analyst you need to hire. Certain actuarial analyst roles might require a full-time employee, whereas others can be done by part-time workers or contractors.

   Determine employee vs contractor status

   Is the person you're thinking of hiring a US citizen or green card holder?

   Yes

   No

   An actuarial analyst's background is also an important factor in determining whether they'll be a good fit for the position. For example, actuarial analysts from different industries or fields will have radically different experiences and will bring different viewpoints to the role. You also need to consider the candidate's previous level of experience to make sure they'll be comfortable with the job's level of seniority.

   Here's a comparison of actuarial analyst salaries for various roles:

   Type of Actuarial Analyst	Description	Hourly rate
   Actuarial Analyst	Actuaries analyze the financial costs of risk and uncertainty. They use mathematics, statistics, and financial theory to assess the risk that an event will occur, and they help businesses and clients develop policies that minimize the cost of that risk... Show more	$26-49
   Statistician	A statistician is a professional 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... Show more	$28-57
   Data Scientist	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.	$36-71

   Show more

2. Create an ideal candidate profile

   Common skills:

   • Statistical Analysis
   • SAS
   • Statistical Data
   • VBA
   • Actuarial Models
   • PowerPoint
   • Actuarial Analysis
   • Medicaid
   • Math
   • Strong Analytical
   • Data Analysis
   • Product Development
   • Analyze Data
   • GAAP

   Check all skills

   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.

   More actuarial analyst duties

3. Make a budget

   Including a salary range in your actuarial analyst job description is a great way to entice the best and brightest candidates. An actuarial analyst salary can vary based on several factors:

   • Location. For example, actuarial analysts' average salary in south dakota is 46% less than in washington.
   • Seniority. Entry-level actuarial analysts earn 47% less than senior-level actuarial analysts.
   • Certifications. An actuarial analyst with a few certifications under their belt will likely demand a higher salary.
   • Company. Working for a prestigious company or an exciting start-up can make a huge difference in an actuarial analyst's salary.

   Average actuarial analyst salary

   $75,593yearly

   $36.34 hourly rate

   ---

   Entry-level actuarial analyst salary

   $55,000 yearly salary

   Updated January 16, 2026

   Average actuarial analyst salary by state

   Rank	State	Avg. salary	Hourly rate
   1	Washington	$95,869	$46
   2	New York	$93,972	$45
   3	Connecticut	$89,457	$43
   4	Massachusetts	$87,486	$42
   5	California	$86,581	$42
   6	New Jersey	$86,396	$42
   7	Maryland	$85,665	$41
   8	Virginia	$83,197	$40
   9	Missouri	$77,349	$37
   10	Pennsylvania	$75,854	$36
   11	Wisconsin	$74,759	$36
   12	Texas	$74,120	$36
   13	Florida	$72,992	$35
   14	Illinois	$72,926	$35
   15	Georgia	$72,888	$35
   16	Colorado	$72,445	$35
   17	Arizona	$70,795	$34
   18	Nebraska	$69,777	$34
   19	Indiana	$68,660	$33
   20	Michigan	$68,528	$33

   Average actuarial analyst salary by company

   Company

   Rank	Company	Average salary	Hourly rate	Job openings
   1	Nationwide Financial	$101,416	$48.76
   2	Lyft	$100,139	$48.14	2
   3	AIG	$98,568	$47.39	30
   4	Uber Technologies	$97,604	$46.92	1
   5	Palo Alto Networks	$93,954	$45.17	2
   6	W. R. Berkley	$93,532	$44.97	11
   7	Watson Wyatt	$91,380	$43.93
   8	Aetna	$91,003	$43.75
   9	Chubb	$90,334	$43.43	16
   10	Arch Capital Group	$90,032	$43.28	10
   11	Metromile	$89,977	$43.26
   12	The Hanover Insurance Group	$88,017	$42.32
   13	Zurich	$87,993	$42.30	24
   14	Berkshire Hathaway	$87,838	$42.23	12
   15	BlueCross BlueShield of South Carolina	$87,831	$42.23
   16	CareFirst BlueCross BlueShield	$87,551	$42.09	4
   17	Kemper	$87,269	$41.96	35
   18	Texas Mutual Insurance	$87,010	$41.83	1
   19	EMC Insurance	$86,577	$41.62	7
   20	Sentry	$86,570	$41.62	6

4. Writing an actuarial analyst job description

   A job description for an actuarial analyst role includes a summary of the job's main responsibilities, required skills, and preferred background experience. Including a salary range can also go a long way in attracting more candidates to apply, and showing the first name of the hiring manager can also make applicants more comfortable. As an example, here's an actuarial analyst job description:

   Actuarial analyst job description example

   FIND YOUR FUTURE
   We're excited about the potential people bring to our organization. You can grow your career here while enjoying first-class perks, benefits and commitment to diversity and inclusion.
   
   Overview
   Under the supervision of the Manager-Actuarial Services, the candidate will provide a full scope of actuarial and statistical analyses. Such projects will support both internal and external customers. The position requires working collaboration with other team members and business units throughout the organization. This role requires strong analytical skills.
   
   Qualifications
   Bachelor's degree required in Mathematics, Statistics, Actuarial Sciences, or related field. Master's degree preferred.Three (3) years of Actuarial or related experience required OR two (2) years of actuarial experience and ASA designation required.Completion of at least one Society of Actuaries exam preferred.Strong understanding of Actuarial concepts, functions, and processes.Detailed understanding of health care concepts and products, and general understanding of the health care environment.Proficient PC skills in a Windows environment. Advanced knowledge of Excel, SAS and other analytic or query tools required. Programming and coding experience required.Proven ability to handle data sources, filter and assess data quality, and recognize data patterns required. Strong problem solving skills required. Must be able to develop information derived from multiple and varied inputs.Demonstrated project management skills. Able to support complex projects.Excellent oral and written communication skills. Demonstrated self-motivation and initiative, as well as an ability to perform under pressure. Strong interpersonal skills. Strong organizational skills and ability to prioritize, multitask, and work in fast paced environment.Proven examples of displaying the IH values: Passionate, Caring, Respectful, Trustworthy, Collaborative and Accountable.
   
   Essential Accountabilities
   Support budget development process including forecasting and actual to budget comparison. Communicate with external departments to support budget preparation.Support development and forecasting of accruals for Finance and Accounting for various financial statement items.Provide analysis and reporting for financial and regulatory requirements including but not limited to MCR, ROI, product performance, provider and vendor relationships, and audit support.Perform actuarial analysis and modeling including but not limited to reserves, pricing, and forecasting.Develop ad hoc reports as a supplement to routine management reports through query building and data extraction.Assist in development of process improvements and automation within the department.Manage complex projects. Responsible for development, support, and improvement of departmental projects.Perform peer review as needed.Understand multiple sources of data; is able to identify and utilize most relevant source to complete task. Ensure overall data integrity. Draw together facts and input from a variety of sources; make recommendations to management.
   
   As an Equal Opportunity / Affirmative Action Employer, Independent Health and its affiliates will not discriminate in its employment practices due to an applicant's race, color, creed, religion, sex (including pregnancy, childbirth or related medical conditions), sexual orientation, gender identity or expression, transgender status, age, national origin, marital status, citizenship, physical and mental disability, criminal record, genetic information, predisposition or carrier status, status with respect to receiving public assistance, domestic violence victim status, a disabled, special, recently separated, active duty wartime, campaign badge, Armed Forces service medal veteran, or any other characteristics protected under applicable law. Click here for additional EEO/AAP or Reasonable Accommodation information.
   
   Current Associates must apply internally via their Career Worklet.

   Copy this example

   

5. Post your job

   There are various strategies that you can use to find the right actuarial analyst for your business:

   • Consider promoting from within or recruiting from your existing workforce.
   • Ask for referrals from friends, family members, and current employees.
   • Attend job fairs at local colleges to find candidates who meet your education requirements.
   • Use social media platforms like LinkedIn, Facebook, and Twitter to reach potential job candidates.

   Post your job online:

   • Post your actuarial analyst job on Zippia to find and recruit actuarial analyst candidates who meet your exact specifications.
   • Use field-specific websites.
   • Post a job on free websites.

6. Interview candidates

   During your first interview to recruit actuarial analysts, engage with candidates to learn about their interest in the role and experience in the field. During the following interview, you'll be able to go into more detail about the company, the position, and the responsibilities.

   Remember to include a few questions that allow candidates to expand on their strengths in their own words. Asking about their unique skills might reveal things you'd miss otherwise. At this point, good candidates can move on to the technical interview.

   Sometimes, it's not enough to interview actuarial analyst candidates, so you can ask them to do a test project. If you are not a technical person and don't know what a test project should be, you can use these websites:

   • TestDome
   • CodeSignal
   • Testlify
   • BarRaiser
   • Coderbyte

   The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.

7. Send a job offer and onboard your new actuarial analyst

   Once you've decided on a perfect actuarial analyst candidate, it's time to write an offer letter. In addition to salary, it should include benefits and perks available to the employee. Qualified candidates may be considered for other positions, so make sure your offer is competitive. Candidates may wish to negotiate. Once you've settled on the details, formalize your agreement with a contract.

   It's equally important to follow up with applicants who don't get the job with an email letting them know that the position has been filled.

   Once that's done, you can draft an onboarding schedule for the new actuarial analyst. Human Resources should complete Employee Action Forms and ensure that onboarding paperwork is completed, including I-9s, benefits enrollment, federal and state tax forms, etc. They should also ensure that new employee files are created for internal recordkeeping.

8. Go through the hiring process checklist

   • Determine employee type (full-time, part-time, contractor, etc.)
   • Submit a job requisition form to the HR department
   • Define job responsibilities and requirements
   • Establish budget and timeline
   • Determine hiring decision makers for the role
   • Write job description
   • Post job on job boards, company website, etc.
   • Promote the job internally
   • Process applications through applicant tracking system
   • Review resumes and cover letters
   • Shortlist candidates for screening
   • Hold phone/virtual interview screening with first round of candidates
   • Conduct in-person interviews with top candidates from first round
   • Score candidates based on weighted criteria (e.g., experience, education, background, cultural fit, skill set, etc.)
   • Conduct background checks on top candidates
   • Check references of top candidates
   • Consult with HR and hiring decision makers on job offer specifics
   • Extend offer to top candidate(s)
   • Receive formal job offer acceptance and signed employment contract
   • Inform other candidates that the position has been filled
   • Set and communicate onboarding schedule to new hire(s)
   • Complete new hire paperwork (i9, benefits enrollment, tax forms, etc.)

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