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The differences between biostatisticians 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 $85,645 average annual salary of a biostatistician.
The top three skills for a biostatistician include data analysis, patients and data management. The most important skills for an actuary are risk management, VBA, and GAAP.
| Biostatistician | Actuary | |
| Yearly salary | $85,645 | $88,255 |
| Hourly rate | $41.18 | $42.43 |
| Growth rate | 31% | 21% |
| Number of jobs | 17,972 | 13,566 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 47% | Bachelor's Degree, 83% |
| Average age | 37 | 39 |
| Years of experience | 2 | - |
A biostatistician specializes in gathering and analyzing data for medical and biological research. Typically, their responsibilities revolve around devising the ideal questionnaire or survey for significant results, maintaining accurate records of data, developing conclusions and research papers, contributing findings to publications, and even collaborating with other scientists. There are also instances where biostatisticians may train junior statisticians, conduct corrective measures on inconsistencies and data error, and develop new strategies for scientific outcomes. Most importantly, a biostatistician must adhere to the laws and regulations on data gathering processes.
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.
Biostatisticians and actuaries have different pay scales, as shown below.
| Biostatistician | Actuary | |
| Average salary | $85,645 | $88,255 |
| Salary range | Between $60,000 And $120,000 | Between $52,000 And $147,000 |
| Highest paying City | San Francisco, CA | New York, NY |
| Highest paying state | California | New York |
| Best paying company | Meta | PayPal |
| Best paying industry | Pharmaceutical | Professional |
There are a few differences between a biostatistician and an actuary in terms of educational background:
| Biostatistician | Actuary | |
| Most common degree | Bachelor's Degree, 47% | Bachelor's Degree, 83% |
| Most common major | Statistics | Mathematics |
| Most common college | Johns Hopkins University | University of Notre Dame |
Here are the differences between biostatisticians' and actuaries' demographics:
| Biostatistician | Actuary | |
| Average age | 37 | 39 |
| Gender ratio | Male, 55.8% Female, 44.2% | Male, 74.3% Female, 25.7% |
| Race ratio | Black or African American, 5.1% Unknown, 5.0% Hispanic or Latino, 7.6% Asian, 22.7% White, 59.4% American Indian and Alaska Native, 0.2% | 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 | 9% | 18% |