Actuarial technician vs pricing actuary

The differences between actuarial technicians and pricing actuaries can be seen in a few details. Each job has different responsibilities and duties. Additionally, an actuarial technician has an average salary of $79,409, which is higher than the $65,091 average annual salary of a pricing actuary.

The top three skills for an actuarial technician include projection, financial analysis and product development. The most important skills for a pricing actuary are product development, annuities, and level changes.

Actuarial technician vs pricing actuary overview

	Actuarial Technician	Pricing Actuary
Yearly salary	$79,409	$65,091
Hourly rate	$38.18	$31.29
Growth rate	21%	21%
Number of jobs	7,597	15,444
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 72%	Bachelor's Degree, 85%
Average age	39	39
Years of experience	-	-

Actuarial technician vs pricing actuary salary

Actuarial technicians and pricing actuaries have different pay scales, as shown below.

	Actuarial Technician	Pricing Actuary
Average salary	$79,409	$65,091
Salary range	Between $44,000 And $141,000	Between $31,000 And $132,000
Highest paying City	Hartford, CT	New York, NY
Highest paying state	New York	New York
Best paying company	Transamerica Corporation	AIG
Best paying industry	Professional	-

Differences between actuarial technician and pricing actuary education

There are a few differences between an actuarial technician and a pricing actuary in terms of educational background:

	Actuarial Technician	Pricing Actuary
Most common degree	Bachelor's Degree, 72%	Bachelor's Degree, 85%
Most common major	Mathematics	Mathematics
Most common college	University of Pennsylvania	University of Pennsylvania

Actuarial technician vs pricing actuary demographics

Here are the differences between actuarial technicians' and pricing actuaries' demographics:

	Actuarial Technician	Pricing Actuary
Average age	39	39
Gender ratio	Male, 40.2% Female, 59.8%	Male, 71.4% Female, 28.6%
Race ratio	Black or African American, 3.1% Unknown, 3.0% Hispanic or Latino, 5.1% Asian, 15.8% White, 73.1% 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%

Differences between actuarial technician and pricing actuary duties and responsibilities

Actuarial technician example responsibilities.

Evaluate capitation agreements between provider groups and manage care plans, including commercial and Medicare populations.
Design the migration of SAS datasets and other data to new UNIX box.
Develop and maintain statistical models to modify policy rates and coverages using SAS.
Compile, analyze and verify census data and information need in the calculation of reinsurance premiums.
Assist in the creation and preside over presentations, utilizing and maintaining the required projection equipment for meetings.
Take ownership of quarterly Medicaid cost benefit ratio dashboard by compiling several state's claim cost/utilization data and premium information.

Pricing actuary example responsibilities.

Project manage large work streams incorporating data and technology to support all business analytics used across the organization.
Support the sales team in conducting profitability analysis, analyzing options and developing customer ROI analyses
Manipulate select and ultimate mortality table to database formate by using VBA and producingexpect Motality base under best estimate assumption.
Administer payroll, conduct accounts reconciliations, and track all A/R and A/P.

Actuarial technician vs pricing actuary skills

Common actuarial technician skills

Projection, 20%
Financial Analysis, 16%
Product Development, 14%
Data Analysis, 9%
VBA, 8%
SQL, 7%

Common pricing actuary skills

Product Development, 69%
Annuities, 23%
Level Changes, 5%
Auto Liability, 2%
Loss Ratio, 1%