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Actuarial consultants provide financial advice to their clients to help inform their financial decision-making. They do this by communicating their analysis in a clear, non-technical way, ensuring their clients fully understand implications, and bearing in mind any limitations that may apply to their clients. They utilize a wide array of statistics, contingency plans, and large amounts of data to formulate a plan best suited to each client. Actuarial consultants earn a median sum of $81,000 annually or $39 per hour.

Actuarial consultants complete risk and cost analysis to determine financial uncertainties using the skills of a statistician, economist, and probabilities forecaster. They help clients choose the proper insurance, pension, and investing plans to meet their goals, and they work with insurance companies or with clients in the investment world. They spend an ample amount of time crunching numbers and running hypothetical scenarios containing current trends.

Actuarial consultants typically have a bachelor's degree in finance, economics, statistics, business, or other related fields. They are expected to pass an extensive series of examinations before becoming actuarial consultants. Also, actuarial consultants hoping to excel in the field often pursue a higher academic degree.

What Does an Actuarial Consultant Do

There are certain skills that many actuarial consultants have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed analytical skills, communication skills and computer skills.

Learn more about what an Actuarial Consultant does

How To Become an Actuarial Consultant

If you're interested in becoming an actuarial consultant, one of the first things to consider is how much education you need. We've determined that 79.6% of actuarial consultants have a bachelor's degree. In terms of higher education levels, we found that 16.1% of actuarial consultants have master's degrees. Even though most actuarial consultants have a college degree, it's impossible to become one with only a high school degree or GED.

Learn More About How To Become an Actuarial Consultant

Career Path For an Actuarial Consultant

In addition to switching up your job search, it might prove helpful to look at a career path for your specific job. Now, what's a career path you ask? Well, it's practically a map that shows how you might advance from one job title to another. Our career paths are especially detailed with salary changes. So, for example, if you started out with the role of actuary you might progress to a role such as consultant eventually. Later on in your career, you could end up with the title senior human resources manager.

Actuarial Consultant

Average Salary for an Actuarial Consultant

Actuarial Consultants in America make an average salary of $91,160 per year or $44 per hour. The top 10 percent makes over $135,000 per year, while the bottom 10 percent under $61,000 per year.
Average Actuarial Consultant Salary
$91,160 Yearly
$43.83 hourly

What Am I Worth?


Roles and Types of Actuarial Consultant

The role of an actuarial consultant includes a wide range of responsibilities. These responsibilities can vary based on an individual's specific job, company, or industry.Here are some general actuarial consultant responsibilities:

  • Prepare bids submitted to cms annually conduct data analysis
  • Conduct analysis in support of actuarial staff. Interprets data
  • 1. Compiles, categorizes & analyzes data leads in illustrating/reproposals for products

There are several types of actuarial consultant, including:



Consultants are essential to businesses that want to improve their performance. Typically, consultants advise these businesses in many areas such as operations, profitability, management, and even structure.

Consultants have their work cut out for them because their advice can stretch over so many different areas. You may need some expertise in management, strategy, human resources, finance, and IT (just to name a few fields).

In addition to having all of this knowledge, consultants typically work long hours, we're talking an average of 56 hours a week, but many work even beyond that, to around 70-80 hours. Spending that many hours at the office, you'll probably end up with some good friends, at least.

  • Average Salary: $78,912
  • Degree: Bachelor's Degree

Benefits Consultant


Benefits consultants advise companies and manage employee benefits such as health insurance, retirement plans, and many more. They assist employees in creating the optimal version of their benefits packages.

As a benefits consultant, you might work for a consulting firm and earn your salary on a commission basis. Your job will include handling the paperwork and documentation of the benefits plans, renewing them when necessary.

You will be helping out business owners in managing the time-consuming task of establishing benefits packages. You will help them decide on the type of benefits to offer with an insight into what the competitors in the area tend to offer. You will also possess tools to poll employees and have valuable information regarding their preferences.
  • Average Salary: $79,068
  • Degree: Bachelor's Degree

Actuarial Analyst


An actuarial analyst who works in the insurance industry uses the statistics process to calculate the probability and cost of certain events, such as accidents, death and damages properties, and analysis data. An actuarial Analyst often is employed by the insurance industry and specializes in a particular area, such as health or life insurance. Therefore, you will work with insurance professionals such as market research analysts and businesses. You will be in charge of performing statistical modeling, presenting your findings to the senior management, and data analysis. You are also in charge of compiling important data and writing reports.

Depending on your area of specialization or where you are working, you may be involved in pension plans, designing investments, and helping to lower insurance premiums by reducing their risk exposure. You will estimate the likelihood of catastrophic events, such as pandemics, earthquakes, and terrorist attacks.

An outstanding knowledge of mathematics, written and oral communication skills, strong analytical and problem-solving skills, general knowledge of finance and business are all essential skills. The average salary of an actuarial Analyst annually is $108,000. A bachelor's degree in Statistics or other related fields will get you the job.
  • Average Salary: $75,593
  • Degree: Bachelor's Degree

States With The Most Actuarial Consultant Jobs

Mouse over a state to see the number of active actuarial consultant jobs in each state. The darker areas on the map show where actuarial consultants earn the highest salaries across all 50 states.

Average Salary: Job Openings:

Number Of Actuarial Consultant Jobs By State

RankStateNumber of JobsAverage Salary
2South Carolina572$59,910
8New York257$113,807
9West Virginia238$87,715
16New Jersey153$89,664
17South Dakota152$58,103
18North Carolina151$91,612
38New Hampshire27$98,037
42Rhode Island21$96,215
45New Mexico19$85,860
47North Dakota12$82,823

Actuarial Consultant Education

Actuarial Consultant Majors

Actuarial Consultant Degrees


79.6 %


16.1 %


1.8 %

Top Colleges for Actuarial Consultants

1. University of Notre Dame

Notre Dame, IN • Private

In-State Tuition




2. Columbia University in the City of New York

New York, NY • Private

In-State Tuition




3. Carnegie Mellon University

Pittsburgh, PA • Private

In-State Tuition




4. Emory University

Atlanta, GA • Private

In-State Tuition




5. Georgia Institute of Technology

Atlanta, GA • Private

In-State Tuition




6. University of Pennsylvania

Philadelphia, PA • Private

In-State Tuition




7. University of Michigan - Ann Arbor

Ann Arbor, MI • Private

In-State Tuition




8. University of California - Los Angeles

Los Angeles, CA • Private

In-State Tuition




9. University of California, Berkeley

Berkeley, CA • Private

In-State Tuition




10. Boston University

Boston, MA • Private

In-State Tuition




Top Skills For an Actuarial Consultant

The skills section on your resume can be almost as important as the experience section, so you want it to be an accurate portrayal of what you can do. Luckily, we've found all of the skills you'll need so even if you don't have these skills yet, you know what you need to work on. Out of all the resumes we looked through, 10.9% of actuarial consultants listed project management on their resume, but soft skills such as analytical skills and communication skills are important as well.

Choose From 10+ Customizable Actuarial Consultant Resume templates

Zippia allows you to choose from different easy-to-use Actuarial Consultant templates, and provides you with expert advice. Using the templates, you can rest assured that the structure and format of your Actuarial Consultant resume is top notch. Choose a template with the colors, fonts & text sizes that are appropriate for your industry.

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Actuarial Consultant diversity

Actuarial Consultant Gender Distribution


After extensive research and analysis, Zippia's data science team found that:

  • Among actuarial consultants, 34.0% of them are women, while 66.0% are men.

  • The most common race/ethnicity among actuarial consultants is White, which makes up 72.8% of all actuarial consultants.

  • The most common foreign language among actuarial consultants is Spanish at 30.8%.

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Best States For an Actuarial Consultant

Some places are better than others when it comes to starting a career as an actuarial consultant. The best states for people in this position are New York, Maine, Massachusetts, and Alaska. Actuarial consultants make the most in New York with an average salary of $113,807. Whereas in Maine and Massachusetts, they would average $103,190 and $102,894, respectively. While actuarial consultants would only make an average of $100,957 in Alaska, you would still make more there than in the rest of the country. We determined these as the best states based on job availability and pay. By finding the median salary, cost of living, and using the Bureau of Labor Statistics' Location Quotient, we narrowed down our list of states to these four.

1. Maine

Total Actuarial Consultant Jobs: 193
Highest 10% Earn:
Location Quotient:

2. New York

Total Actuarial Consultant Jobs: 257
Highest 10% Earn:
Location Quotient:

3. Vermont

Total Actuarial Consultant Jobs: 19
Highest 10% Earn:
Location Quotient:
Full List Of Best States For Actuarial Consultants

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Top Actuarial Consultant Employers

We've made finding a great employer to work for easy by doing the hard work for you. We looked into employers that employ actuarial consultants and discovered their number of actuarial consultant opportunities and average salary. Through our research, we concluded that Mercer was the best, especially with an average salary of $94,217. Milliman follows up with an average salary of $90,180, and then comes UnitedHealth Group with an average of $80,784. In addition, we know most people would rather work from home. So instead of having to change careers, we identified the best employers for remote work as an actuarial consultant. The employers include Nationwide, COMMUNITY BANCORP INC, and Smith Hanley Associates

Most Common Employers For Actuarial Consultant

RankCompanyAverage SalaryHourly RateJob Openings
1Oliver Wyman$119,694$57.5514
2JPMorgan Chase & Co.$113,824$54.728
5Ernst & Young$106,118$51.027
6AIR Worldwide$102,217$49.146
9The Hartford$100,397$48.2712
10USI Consulting Group$98,686$47.456