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The differences between actuaries and data analysts 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 $74,342 average annual salary of a data analyst.
The top three skills for an actuary include risk management, VBA and GAAP. The most important skills for a data analyst are data analysis, python, and power bi.
| Actuary | Data Analyst | |
| Yearly salary | $88,255 | $74,342 |
| Hourly rate | $42.43 | $35.74 |
| Growth rate | 21% | 11% |
| Number of jobs | 13,566 | 167,520 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 83% | Bachelor's Degree, 65% |
| Average age | 39 | 44 |
| Years of experience | - | 4 |
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.
Data analysts are responsible for interpreting the company's statistics and providing sound recommendations to the organization. They manage the organization's data sets, usually related to market performance, finance, or human resources. They are in charge of studying the available data, spotting trends, interpreting what the data and the trends mean, and recommending suggestions that will help the organization perform better. Their recommendations should also be relevant and backed up with strong analyses. Data analysts are expected to have a good grasp of the current market trends in the industry.
Actuaries and data analysts have different pay scales, as shown below.
| Actuary | Data Analyst | |
| Average salary | $88,255 | $74,342 |
| Salary range | Between $52,000 And $147,000 | Between $53,000 And $103,000 |
| Highest paying City | New York, NY | Richmond, CA |
| Highest paying state | New York | New Jersey |
| Best paying company | PayPal | The Citadel |
| Best paying industry | Professional | Finance |
There are a few differences between an actuary and a data analyst in terms of educational background:
| Actuary | Data Analyst | |
| Most common degree | Bachelor's Degree, 83% | Bachelor's Degree, 65% |
| Most common major | Mathematics | Business |
| Most common college | University of Notre Dame | Northwestern University |
Here are the differences between actuaries' and data analysts' demographics:
| Actuary | Data Analyst | |
| Average age | 39 | 44 |
| Gender ratio | Male, 74.3% Female, 25.7% | Male, 50.2% Female, 49.8% |
| 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, 7.5% Unknown, 4.4% Hispanic or Latino, 8.5% Asian, 14.5% White, 64.9% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 18% | 12% |