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The differences between actuaries and software engineers can be seen in a few details. Each job has different responsibilities and duties. Additionally, a software engineer has an average salary of $100,260, which is higher than the $88,255 average annual salary of an actuary.
The top three skills for an actuary include risk management, VBA and GAAP. The most important skills for a software engineer are java, python, and software development.
| Actuary | Software Engineer | |
| Yearly salary | $88,255 | $100,260 |
| Hourly rate | $42.43 | $48.20 |
| Growth rate | 21% | 21% |
| Number of jobs | 13,566 | 339,938 |
| Job satisfaction | - | 3.5 |
| Most common degree | Bachelor's Degree, 83% | Bachelor's Degree, 73% |
| 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.
A software engineer is a computer science professional who is responsible for the development of information systems, designing and building computer systems software and applications software. They often prefer to call themselves as a software developer or computer programmer. They have substantial knowledge of programming languages, software development, and computer operating systems, and other technologies. They use these to turn a plan into a final output. They can create a design, test, and develop software based on the needs of their clients.
Actuaries and software engineers have different pay scales, as shown below.
| Actuary | Software Engineer | |
| Average salary | $88,255 | $100,260 |
| Salary range | Between $52,000 And $147,000 | Between $73,000 And $136,000 |
| Highest paying City | New York, NY | San Bruno, CA |
| Highest paying state | New York | California |
| Best paying company | PayPal | The Citadel |
| Best paying industry | Professional | Start-up |
There are a few differences between an actuary and a software engineer in terms of educational background:
| Actuary | Software Engineer | |
| Most common degree | Bachelor's Degree, 83% | Bachelor's Degree, 73% |
| Most common major | Mathematics | Computer Science |
| Most common college | University of Notre Dame | Harvard University |
Here are the differences between actuaries' and software engineers' demographics:
| Actuary | Software Engineer | |
| Average age | 39 | 39 |
| Gender ratio | Male, 74.3% Female, 25.7% | Male, 78.0% Female, 22.0% |
| 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, 4.4% Unknown, 4.8% Hispanic or Latino, 8.1% Asian, 34.0% White, 48.5% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 18% | 8% |