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The differences between operations research analysts 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 $74,424 average annual salary of an operations research analyst.
The top three skills for an operations research analyst include operations research, DOD and python. The most important skills for an actuary are risk management, VBA, and GAAP.
| Operations Research Analyst | Actuary | |
| Yearly salary | $74,424 | $88,255 |
| Hourly rate | $35.78 | $42.43 |
| Growth rate | 23% | 21% |
| Number of jobs | 154,380 | 13,566 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 67% | Bachelor's Degree, 83% |
| Average age | 45 | 39 |
| Years of experience | - | - |
Operations research analysts are responsible for assisting organizations in making better decisions. These professionals work to develop solutions that will aid businesses to operate more efficiently using advanced techniques such as data mining, optimization, and mathematical modeling. They work closely with key organizational stakeholders to stay up-to-date on short-term and long-term business goals. They also conduct research that will give them insights they need to guide decision-makers and develop solutions using predictive modeling, simulations, and statistical analysis.
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.
Operations research analysts and actuaries have different pay scales, as shown below.
| Operations Research Analyst | Actuary | |
| Average salary | $74,424 | $88,255 |
| Salary range | Between $48,000 And $113,000 | Between $52,000 And $147,000 |
| Highest paying City | Washington, DC | New York, NY |
| Highest paying state | Maine | New York |
| Best paying company | The Citadel | PayPal |
| Best paying industry | Professional | Professional |
There are a few differences between an operations research analyst and an actuary in terms of educational background:
| Operations Research Analyst | Actuary | |
| Most common degree | Bachelor's Degree, 67% | Bachelor's Degree, 83% |
| Most common major | Mathematics | Mathematics |
| Most common college | University of Southern California | University of Notre Dame |
Here are the differences between operations research analysts' and actuaries' demographics:
| Operations Research Analyst | Actuary | |
| Average age | 45 | 39 |
| Gender ratio | Male, 68.2% Female, 31.8% | Male, 74.3% Female, 25.7% |
| Race ratio | Black or African American, 13.9% Unknown, 5.9% Hispanic or Latino, 12.4% Asian, 12.9% White, 54.4% American Indian and Alaska Native, 0.6% | 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% |