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The differences between auditors and actuaries 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 $54,853 average annual salary of an auditor.
The top three skills for an auditor include audit reports, customer service and financial statements. The most important skills for an actuary are risk management, VBA, and GAAP.
| Auditor | Actuary | |
| Yearly salary | $54,853 | $88,255 |
| Hourly rate | $26.37 | $42.43 |
| Growth rate | 6% | 21% |
| Number of jobs | 20,325 | 13,566 |
| Job satisfaction | 3 | - |
| Most common degree | Bachelor's Degree, 55% | Bachelor's Degree, 83% |
| Average age | 44 | 39 |
| Years of experience | - | - |
An auditor is responsible for reviewing financial statements and making sure that the reports align with the accounting principles and legislative standards. Some of the important duties of an auditor are verifying the company's account statements, ensuring that the business is free from fraud and other unusual activities, providing recommendations to boost operations' performance, and creating financial reports for the board. An auditor should have excellent analytical and decision-making skills to spot inaccuracies of financial statements and resolve financial issues immediately.
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.
Auditors and actuaries have different pay scales, as shown below.
| Auditor | Actuary | |
| Average salary | $54,853 | $88,255 |
| Salary range | Between $35,000 And $84,000 | Between $52,000 And $147,000 |
| Highest paying City | Washington, DC | New York, NY |
| Highest paying state | New Jersey | New York |
| Best paying company | Microsoft | PayPal |
| Best paying industry | Professional | Professional |
There are a few differences between an auditor and an actuary in terms of educational background:
| Auditor | Actuary | |
| Most common degree | Bachelor's Degree, 55% | Bachelor's Degree, 83% |
| Most common major | Accounting | Mathematics |
| Most common college | University of Pennsylvania | University of Notre Dame |
Here are the differences between auditors' and actuaries' demographics:
| Auditor | Actuary | |
| Average age | 44 | 39 |
| Gender ratio | Male, 44.9% Female, 55.1% | Male, 74.3% Female, 25.7% |
| Race ratio | Black or African American, 8.8% Unknown, 4.0% Hispanic or Latino, 11.1% Asian, 12.1% White, 63.5% American Indian and Alaska Native, 0.5% | 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% |
| LGBT Percentage | 7% | 18% |