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The differences between actuaries and finance 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 $69,887 average annual salary of a finance analyst.
The top three skills for an actuary include risk management, VBA and GAAP. The most important skills for a finance analyst are financial analysis, financial models, and financial data.
| Actuary | Finance Analyst | |
| Yearly salary | $88,255 | $69,887 |
| Hourly rate | $42.43 | $33.60 |
| Growth rate | 21% | 9% |
| Number of jobs | 13,566 | 138,600 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 83% | Bachelor's Degree, 76% |
| Average age | 39 | 40 |
| 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.
A finance analyst is responsible for evaluating a company's financial data and historical reports to assess investment opportunities and provide accurate financial statements in support of business strategies and company performance prediction. A financial analyst's duties also include suggesting recommendations to boost operations efficiency and grow revenues, researching the current market performance and economic trends to adjust budget goals as needed, and managing client portfolios. Finance analysts must have excellent critical and analytical thinking skills to identify the best actions for the company's profitability.
Actuaries and finance analysts have different pay scales, as shown below.
| Actuary | Finance Analyst | |
| Average salary | $88,255 | $69,887 |
| Salary range | Between $52,000 And $147,000 | Between $46,000 And $104,000 |
| Highest paying City | New York, NY | San Francisco, CA |
| Highest paying state | New York | Connecticut |
| Best paying company | PayPal | The Citadel |
| Best paying industry | Professional | Finance |
There are a few differences between an actuary and a finance analyst in terms of educational background:
| Actuary | Finance Analyst | |
| Most common degree | Bachelor's Degree, 83% | Bachelor's Degree, 76% |
| Most common major | Mathematics | Business |
| Most common college | University of Notre Dame | University of Pennsylvania |
Here are the differences between actuaries' and finance analysts' demographics:
| Actuary | Finance Analyst | |
| Average age | 39 | 40 |
| Gender ratio | Male, 74.3% Female, 25.7% | Male, 56.2% Female, 43.8% |
| 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, 5.6% Unknown, 4.5% Hispanic or Latino, 7.7% Asian, 14.1% White, 68.0% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 18% | 7% |