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The differences between actuarial managers and bank managers can be seen in a few details. Each job has different responsibilities and duties. It typically takes 6-8 years to become both an actuarial manager and a bank manager. Additionally, a bank manager has an average salary of $96,910, which is higher than the $75,827 average annual salary of an actuarial manager.
The top three skills for an actuarial manager include medicaid, financial analysis and financial results. The most important skills for a bank manager are bank products, financial services, and business development.
| Actuarial Manager | Bank Manager | |
| Yearly salary | $75,827 | $96,910 |
| Hourly rate | $36.46 | $46.59 |
| Growth rate | 17% | 17% |
| Number of jobs | 59,285 | 66,136 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 63% | Bachelor's Degree, 64% |
| Average age | 46 | 46 |
| Years of experience | 8 | 8 |
Actuarial managers supervise all the actuary employees and the actuary department. They meet the clients and get to know the type of data and statistics they need. Besides reviewing the actuaries' performance and predictions and analysis accuracy, actuarial managers also prepare reports featuring all the information and ensure each data's accuracy before submission. Other duties performed by actuarial managers include meeting with company heads from time to time and updating them on matters relating to the actuarial figures.
A bank manager is responsible for supervising banking operations and monitoring staff performance in providing the best customer service for clients with their banking needs and financial transactions. Bank managers assist the staff with the complexities of processes, train new hires, and strategize the development of services that would contribute to the bank's success. They also conduct fund audits and create accounts receivable reports at the end of the day. A bank manager responds to clients' inquiries and concerns, resolve complaints, and manage account disputes.
Actuarial managers and bank managers have different pay scales, as shown below.
| Actuarial Manager | Bank Manager | |
| Average salary | $75,827 | $96,910 |
| Salary range | Between $39,000 And $144,000 | Between $65,000 And $142,000 |
| Highest paying City | Bridgeport, CT | San Francisco, CA |
| Highest paying state | Connecticut | California |
| Best paying company | Prudential Financial | Accenture |
| Best paying industry | Insurance | Finance |
There are a few differences between an actuarial manager and a bank manager in terms of educational background:
| Actuarial Manager | Bank Manager | |
| Most common degree | Bachelor's Degree, 63% | Bachelor's Degree, 64% |
| Most common major | Mathematics | Business |
| Most common college | University of Notre Dame | University of Pennsylvania |
Here are the differences between actuarial managers' and bank managers' demographics:
| Actuarial Manager | Bank Manager | |
| Average age | 46 | 46 |
| Gender ratio | Male, 65.2% Female, 34.8% | Male, 48.9% Female, 51.1% |
| Race ratio | Black or African American, 5.7% Unknown, 4.0% Hispanic or Latino, 10.2% Asian, 7.9% White, 71.9% American Indian and Alaska Native, 0.3% | Black or African American, 7.5% Unknown, 4.1% Hispanic or Latino, 14.3% Asian, 10.0% White, 63.7% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 11% | 11% |