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The differences between actuaries and requirements engineers 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 $87,170 average annual salary of a requirements engineer.
The top three skills for an actuary include risk management, VBA and GAAP. The most important skills for a requirements engineer are java, software development, and powerpoint.
| Actuary | Requirements Engineer | |
| Yearly salary | $88,255 | $87,170 |
| Hourly rate | $42.43 | $41.91 |
| Growth rate | 21% | 21% |
| Number of jobs | 13,566 | 166,444 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 83% | Bachelor's Degree, 64% |
| Average age | 39 | 39 |
| 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.
Requirements engineers are responsible for the analysis, documentation, coordination, and management of requirements regarding new software projects. They identify and understand the customer's project-specific demands and document them in a clear and binding way. Their duties and responsibilities also include preparing well-written and detailed documentation of the project and ensuring the project is designed and built within the legal parameters.
Actuaries and requirements engineers have different pay scales, as shown below.
| Actuary | Requirements Engineer | |
| Average salary | $88,255 | $87,170 |
| Salary range | Between $52,000 And $147,000 | Between $62,000 And $120,000 |
| Highest paying City | New York, NY | San Francisco, CA |
| Highest paying state | New York | California |
| Best paying company | PayPal | The Citadel |
| Best paying industry | Professional | Technology |
There are a few differences between an actuary and a requirements engineer in terms of educational background:
| Actuary | Requirements Engineer | |
| Most common degree | Bachelor's Degree, 83% | Bachelor's Degree, 64% |
| Most common major | Mathematics | Electrical Engineering |
| Most common college | University of Notre Dame | Stanford University |
Here are the differences between actuaries' and requirements engineers' demographics:
| Actuary | Requirements Engineer | |
| Average age | 39 | 39 |
| Gender ratio | Male, 74.3% Female, 25.7% | Male, 64.5% Female, 35.5% |
| 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, 4.6% Unknown, 4.8% Hispanic or Latino, 8.3% Asian, 29.8% White, 52.3% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 18% | 8% |