Actuary vs certified public accountant

The differences between actuaries and certified public accountants can be seen in a few details. Each job has different responsibilities and duties. Additionally, an actuary has an average salary of $88,255, which is higher than the $76,693 average annual salary of a certified public accountant.

The top three skills for an actuary include risk management, VBA and GAAP. The most important skills for a certified public accountant are CPA, customer service, and IRS.

Actuary vs certified public accountant overview

	Actuary	Certified Public Accountant
Yearly salary	$88,255	$76,693
Hourly rate	$42.43	$36.87
Growth rate	21%	6%
Number of jobs	13,566	78,792
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 83%	Bachelor's Degree, 69%
Average age	39	44
Years of experience	-	4

What does an actuary do?

An actuary specializes in performing research and analysis to assess risks and help companies prepare for any financial disadvantages or impact it may bring. Their responsibilities revolve around coordinating with different departments to gather accurate data, maintain records of all transactions, evaluate the data through various processes, and develop new strategies to cut down costs and risks. An actuary is also responsible for performing clerical tasks such as producing reports through graphs and charts, preparing presentations, answering inquiries and concern, all while adhering to the company's policies and regulations.

What does a certified public accountant do?

A certified public accountant (CPA) acts as an advisor to small businesses and chief financial officers to Fortune 500 companies. They typically work for both small and large public accounting firms. They offer advice on many issues, such as accounting and taxation. They aid businesses and individuals to plan and achieve their financial goals. There are several requirements to become a CPA, including having a degree in accounting, passing the CPA examination, and obtaining a CPA license to practice.

Actuary vs certified public accountant salary

Actuaries and certified public accountants have different pay scales, as shown below.

	Actuary	Certified Public Accountant
Average salary	$88,255	$76,693
Salary range	Between $52,000 And $147,000	Between $49,000 And $119,000
Highest paying City	New York, NY	Washington, DC
Highest paying state	New York	New Jersey
Best paying company	PayPal	Applied Materials
Best paying industry	Professional	Finance

Differences between actuary and certified public accountant education

There are a few differences between an actuary and a certified public accountant in terms of educational background:

	Actuary	Certified Public Accountant
Most common degree	Bachelor's Degree, 83%	Bachelor's Degree, 69%
Most common major	Mathematics	Accounting
Most common college	University of Notre Dame	University of Pennsylvania

Actuary vs certified public accountant demographics

Here are the differences between actuaries' and certified public accountants' demographics:

	Actuary	Certified Public Accountant
Average age	39	44
Gender ratio	Male, 74.3% Female, 25.7%	Male, 43.2% Female, 56.8%
Race ratio	Black or African American, 3.1% Unknown, 3.0% Hispanic or Latino, 5.1% Asian, 17.3% White, 71.4% American Indian and Alaska Native, 0.0%	Black or African American, 8.5% Unknown, 4.0% Hispanic or Latino, 10.8% Asian, 12.4% White, 64.0% American Indian and Alaska Native, 0.5%
LGBT Percentage	18%	7%

Differences between actuary and certified public accountant duties and responsibilities

Actuary example responsibilities.

Support the development and implementation of manually-rate renewal strategies, lead by a season FSA.
Manage the design, implementation and oversight of all insurance and reinsurancepricing functions and processes for corporation.
Complete several health and group annuities projects.
Administer payroll, conduct accounts reconciliations, and track all A/R and A/P.
Update duration calculation formula to deliver more reasonable behavior of A/E ratio in Alteryx.
Extract and analyze data by state using SAS in order to analyze and project Medicaid costs.

Certified public accountant example responsibilities.

Mentor highly skil accounting and tax management team to achieve establish objectives including conformity with GAAP compliance.
Maintain monthly client bookkeeping including bank reconciliations, account payable and prepare preliminary financial statements for CPA review.
Conduct bookkeeping, bank reconciliations and generate general ledgers as well as raise concerns about expenditure classifications and revenue recognition.
Prepare and review month-end close, including journal entries, general ledger account reconciliations, and financial statement supporting documentation.
Gain a working knowledge of audit objectives and procedures in compliance with GAAP and GAAS.
Prepare and monitor audit programs, assist management in design and monitoring of SOX compliance programs.

Actuary vs certified public accountant skills

Common actuary skills

Risk Management, 13%
VBA, 9%
GAAP, 5%
SAS, 5%
Health Insurance, 5%
Financial Reports, 5%

Common certified public accountant skills

CPA, 48%
Customer Service, 22%
IRS, 7%
State Tax Returns, 5%
Payroll Tax Returns, 2%
Financial Statement Preparation, 1%

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Actuary vs Certified Public Accountant

Updated January 8, 2025

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