How to hire an actuary

How to hire an actuary, step by step

Here's a step-by-step actuary hiring guide:

• Step 1: Identify your hiring needs
• Step 2: Create an ideal candidate profile
• Step 3: Make a budget
• Step 4: Write an actuary job description
• Step 5: Post your job
• Step 6: Interview candidates
• Step 7: Send a job offer and onboard your new actuary
• Step 8: Go through the hiring process checklist

What does an actuary do?

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1. Identify your hiring needs

   The actuary hiring process starts by determining what type of worker you actually need. Certain roles might require a full-time employee, whereas part-time workers or contractors can do others.

   Determine employee vs contractor status

   Is the person you're thinking of hiring a US citizen or green card holder?

   Yes

   No

   An actuary's background is also an important factor in determining whether they'll be a good fit for the position. For example, actuaries from different industries or fields will have radically different experiences and will bring different viewpoints to the role. You also need to consider the candidate's previous level of experience to make sure they'll be comfortable with the job's level of seniority.

   Here's a comparison of actuary salaries for various roles:

   Type of Actuary	Description	Hourly rate
   Actuary	Actuaries analyze the financial costs of risk and uncertainty. They use mathematics, statistics, and financial theory to assess the risk that an event will occur, and they help businesses and clients develop policies that minimize the cost of that risk... Show more	$25-70
   Actuarial Internship	The job of actuarial interns involves the roles of graduate actuaries featuring the challenges of a full-time actuary. Interns are given opportunities to work on projects from the offices of the firm or client... Show more	$27-66
   Actuarial Consultant	An actuarial consultant is a financial professional who is responsible for advising clients on investments, insurance, and pension-related decisions using a variety of measurements. Actuarial consultants must apply an extensive use of statistics and large amounts of data to formulate a plan that is best suited to clients... Show more	$29-64

   Show more

2. Create an ideal candidate profile

   Common skills:

   • Risk Management
   • VBA
   • GAAP
   • SAS
   • Health Insurance
   • Financial Reports
   • Term Care
   • Product Development
   • Projection
   • LTC
   • Portfolio
   • Liability Management
   • Data Analysis
   • PC

   Check all skills

   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.

   More actuary duties

3. Make a budget

   Including a salary range in the actuary job description is a good way to get more applicants. An actuary salary can be affected by several factors, such as the location of the job, the level of experience, education, certifications, and the employer's prestige.

   For example, the average salary for an actuary in Louisiana may be lower than in New York, and an entry-level engineer typically earns less than a senior-level actuary. Additionally, an actuary with lots of experience in the field may command a higher salary as a result.

   Average actuary salary

   $88,255yearly

   $42.43 hourly rate

   ---

   Entry-level actuary salary

   $52,000 yearly salary

   Updated December 5, 2025

   Average actuary salary by state

   Rank	State	Avg. salary	Hourly rate
   1	New York	$114,375	$55
   2	Connecticut	$107,566	$52
   3	Maine	$105,380	$51
   4	New Jersey	$105,357	$51
   5	Delaware	$105,325	$51
   6	Massachusetts	$103,436	$50
   7	North Carolina	$102,093	$49
   8	Virginia	$100,718	$48
   9	Washington	$98,936	$48
   10	Maryland	$96,427	$46
   11	District of Columbia	$95,544	$46
   12	California	$95,382	$46
   13	Wisconsin	$88,256	$42
   14	Pennsylvania	$87,162	$42
   15	Missouri	$86,155	$41
   16	Colorado	$85,315	$41
   17	Iowa	$85,059	$41
   18	Illinois	$82,684	$40
   19	Indiana	$82,266	$40
   20	Texas	$81,691	$39

   Average actuary salary by company

   Company

   Rank	Company	Average salary	Hourly rate	Job openings
   1	PayPal	$137,675	$66.19	6
   2	Google	$136,065	$65.42	61
   3	McKinsey & Company Inc	$134,487	$64.66	23
   4	Uber Technologies	$126,946	$61.03
   5	AIG	$121,421	$58.38	44
   6	Oliver Wyman	$120,799	$58.08
   7	JPMorgan Chase & Co.	$119,354	$57.38	44
   8	Credit Suisse	$118,237	$56.84
   9	W. R. Berkley	$116,515	$56.02	10
   10	Aetna	$116,196	$55.86
   11	MetLife	$113,412	$54.52	14
   12	Genworth	$112,838	$54.25
   13	Ameriprise Financial	$112,012	$53.85	1
   14	F&G	$111,961	$53.83	2
   15	MassMutual	$111,289	$53.50	7
   16	Western & Southern Financial Group	$110,421	$53.09	1
   17	Affiliated Computer Services	$109,993	$52.88
   18	Watson Wyatt	$109,512	$52.65
   19	Chubb	$109,253	$52.53	8
   20	Riverstone Holdings	$109,175	$52.49

4. Writing an actuary job description

   An actuary job description should include a summary of the role, required skills, and a list of responsibilities. It's also good to include a salary range and the first name of the hiring manager. To help get you started, here's an example of an actuary job description:

   Actuary job description example

   The Automobile Club of Southern California is seeking an Actuary Trainee .Please Note: These are hybrid roles and will require three days in the office per week. You must reside within driving distance of our corporate office in Costa Mesa CA.
   Responsibility:
   Perform data gathering, calculations and report preparation to support actuarial projects.Learn new systems and in general perform activities that expand knowledge of actuarial science and the insurance business.Progress toward professional designation by developing mathematical and statistical expertise as evidenced by passing actuarial exams.Perform other duties and responsibilities as assigned or required.
   
   Qualification:
   4 year college degree in mathematics, statistics, or related field, or equivalent combination of education and experience required.Advanced background in mathematics and statistics required.Moderate PC skills, including Microsoft Word, Excel, Access, and ability to learn and use other database programs.Must have completed at lease one of the exams of the Casualty Actuarial Society.
   
   Remarkable benefits:• Health coverage for medical, dental, vision• 401(K) saving plan with company match AND Pension• Tuition assistance• PTO for community volunteer programs• Wellness program• Employee discounts
   
   The Automobile Club of Southern California is part of the largest federation of AAA clubs in the nation. We have 14,000 employees in 21 states helping 17 million members. The strength of our organization is our employees. Bringing together and supporting different cultures, backgrounds, personalities, and strengths creates a team capable of delivering legendary, lifetime service to our members. When we embrace our diversity - we win. All of Us! With our national brand recognition, long-standing reputation since 1902, and constantly growing membership, we are seeking career-minded, service-driven professionals to join our team.
   
   “Through dedicated employees we proudly deliver legendary service and beneficial products that provide members peace of mind and value.”
   
   AAA is an Equal Opportunity Employer
   
   The Automobile Club of Southern California will consider for employment all qualified applicants, including those with criminal histories, in a manner consistent with the requirements of applicable federal, state and local laws, including the City of Los Angeles' Fair Chance Initiative for Hiring Ordinance.

   Copy this example

   

5. Post your job

   To find the right actuary for your business, consider trying out a few different recruiting strategies:

   • Consider internal talent. One of the most important sources of talent for any company is its existing workforce.
   • Ask for referrals. Reach out to friends, family members, and current employees and ask if they know or have worked with actuaries they would recommend.
   • Recruit at local colleges. Attend job fairs at local colleges to recruit actuaries who meet your education requirements.
   • Social media platforms. LinkedIn, Facebook and Twitter now have more than 3.5 billion users, and you can use social media to reach potential job candidates.

   Post your job online:

   • Post your actuary job on Zippia to find and recruit actuary candidates who meet your exact specifications.
   • Use field-specific websites.
   • Post a job on free websites.

6. Interview candidates

   During your first interview to recruit actuaries, engage with candidates to learn about their interest in the role and experience in the field. During the following interview, you'll be able to go into more detail about the company, the position, and the responsibilities.

   You should also ask about candidates' unique skills and talents to see if they match the ideal candidate profile you developed earlier. Candidates good enough for the next step can complete the technical interview.

   While interviews are great, you will only sometimes learn enough from a conversation with an actuary applicant. In those cases, having candidates complete a test project can go a long way in figuring out who's the most likely to succeed in the role. If you aren't a technical person and don't know how to design an appropriate test, you can ask someone else on the team to create it or take a look at these websites to get a few ideas:

   • TestDome
   • CodeSignal
   • Testlify
   • BarRaiser
   • Coderbyte

   The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.

7. Send a job offer and onboard your new actuary

   Once you have selected a candidate for the actuary position, it is time to create an offer letter. In addition to salary, the offer letter should include details about benefits and perks that are available to the employee. Ensuring your offer is competitive is vital, as qualified candidates may be considering other job opportunities. The candidate may wish to negotiate the terms of the offer, and it is important to be open to discussion and reach a mutually beneficial agreement. After the offer has been accepted, it is a good idea to formalize the agreement with a contract.

   It's also good etiquette to follow up with applicants who don't get the job by sending them an email letting them know that the position has been filled.

   After that, you can create an onboarding schedule for a new actuary. Human Resources and the hiring manager should complete Employee Action Forms. Human Resources should also ensure that onboarding paperwork is completed, including I-9s, benefits enrollment, federal and state tax forms, etc., and that new employee files are created.

8. Go through the hiring process checklist

   • Determine employee type (full-time, part-time, contractor, etc.)
   • Submit a job requisition form to the HR department
   • Define job responsibilities and requirements
   • Establish budget and timeline
   • Determine hiring decision makers for the role
   • Write job description
   • Post job on job boards, company website, etc.
   • Promote the job internally
   • Process applications through applicant tracking system
   • Review resumes and cover letters
   • Shortlist candidates for screening
   • Hold phone/virtual interview screening with first round of candidates
   • Conduct in-person interviews with top candidates from first round
   • Score candidates based on weighted criteria (e.g., experience, education, background, cultural fit, skill set, etc.)
   • Conduct background checks on top candidates
   • Check references of top candidates
   • Consult with HR and hiring decision makers on job offer specifics
   • Extend offer to top candidate(s)
   • Receive formal job offer acceptance and signed employment contract
   • Inform other candidates that the position has been filled
   • Set and communicate onboarding schedule to new hire(s)
   • Complete new hire paperwork (i9, benefits enrollment, tax forms, etc.)

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How much does it cost to hire an actuary?