Find The Best Product Development Actuary Jobs For You

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Average Salary
$125,351
Average Salary
Job Growth Rate
20%
Job Growth Rate
Job Openings
40,203
Job Openings

Product Development Actuary Careers

There is more than meets the eye when it comes to being a product development actuary. For example, did you know that they make an average of $60.26 an hour? That's $125,351 a year!

Between 2018 and 2028, the career is expected to grow 20% and produce 5,000 job opportunities across the U.S.

What Does a Product Development Actuary Do

There are certain skills that many product development actuaries have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed computer skills, analytical skills and math skills.

When it comes to the most important skills required to be a product development actuary, we found that a lot of resumes listed 59.8% of product development actuaries included fsa, while 17.9% of resumes included administration system, and 15.1% of resumes included sql. Hard skills like these are helpful to have when it comes to performing essential job responsibilities.

When it comes to searching for a job, many search for a key term or phrase. Instead, it might be more helpful to search by industry, as you might be missing jobs that you never thought about in industries that you didn't even think offered positions related to the product development actuary job title. But what industry to start with? Most product development actuaries actually find jobs in the insurance and pharmaceutical industries.

How To Become a Product Development Actuary

If you're interested in becoming a product development actuary, one of the first things to consider is how much education you need. We've determined that 60.0% of product development actuaries have a bachelor's degree. In terms of higher education levels, we found that 30.0% of product development actuaries have master's degrees. Even though most product development actuaries have a college degree, it's impossible to become one with only a high school degree or GED.

You may find that experience in other jobs will help you become a product development actuary. In fact, many product development actuary jobs require experience in a role such as actuarial analyst. Meanwhile, many product development actuaries also have previous career experience in roles such as internship or research internship.

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Average Salary
$125,351
Average Salary
Job Growth Rate
20%
Job Growth Rate
Job Openings
40,203
Job Openings

Average Salary for a Product Development Actuary

Product Development Actuaries in America make an average salary of $125,351 per year or $60 per hour. The top 10 percent makes over $185,000 per year, while the bottom 10 percent under $84,000 per year.
Average Salary
$125,351
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Recently Added Salaries

Job TitleCompanyascdescCompanyascdescStart DateascdescSalaryascdesc
Actuary (Asa/Fsa)-Model Development/Axis-Remote
Actuary (Asa/Fsa)-Model Development/Axis-Remote
Mutual of Omaha Insurance Company
Mutual of Omaha Insurance Company
03/19/2021
03/19/2021
$85,00003/19/2021
$85,000
Actuary (Asa/Fsa)-Model Development/Axis Implementation-Remote
Actuary (Asa/Fsa)-Model Development/Axis Implementation-Remote
Mutual of Omaha Insurance Company
Mutual of Omaha Insurance Company
01/13/2021
01/13/2021
$85,00001/13/2021
$85,000
Assistant Actuary, Product Development
Assistant Actuary, Product Development
Legal & General America, Inc.
Legal & General America, Inc.
09/10/2019
09/10/2019
$112,00009/10/2019
$112,000
Product Development Actuary
Product Development Actuary
Smith Hanley Associates
Smith Hanley Associates
09/05/2019
09/05/2019
$140,00009/05/2019
$140,000
Education Product Developer, Actuarial
Education Product Developer, Actuarial
Salt Solutions, Dba Coaching Actuaries
Salt Solutions, Dba Coaching Actuaries
07/31/2019
07/31/2019
$82,51407/31/2019
$82,514

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Product Development Actuary Demographics

Gender

male

68.4 %

female

21.1 %

unknown

10.5 %

Ethnicity

White

79.3 %

Asian

14.4 %

Hispanic or Latino

2.7 %

Foreign Languages Spoken

French

100.0 %
See More Demographics

Product Development Actuary Education

Majors

Degrees

Bachelors

60.0 %

Masters

30.0 %

Associate

10.0 %

Top Colleges for Product Development Actuarys

1. University of Pennsylvania

Philadelphia, PA • Private

In-State Tuition
$55,584
Enrollment
10,764

2. Emory University

Atlanta, GA • Private

In-State Tuition
$51,306
Enrollment
6,975

3. Columbia University in the City of New York

New York, NY • Private

In-State Tuition
$59,430
Enrollment
8,216

4. Worcester Polytechnic Institute

Worcester, MA • Private

In-State Tuition
$50,530
Enrollment
4,571

5. Stanford University

Stanford, CA • Private

In-State Tuition
$51,354
Enrollment
7,083

6. SUNY at Albany

Albany, NY • Public

In-State Tuition
$10,011
Enrollment
13,434

7. University of California, Berkeley

Berkeley, CA • Public

In-State Tuition
$14,184
Enrollment
30,845

8. Northwestern University

Evanston, IL • Private

In-State Tuition
$54,568
Enrollment
8,451

9. University of Notre Dame

Notre Dame, IN • Private

In-State Tuition
$53,391
Enrollment
8,568

10. Boston University

Boston, MA • Private

In-State Tuition
$53,948
Enrollment
17,238
See More Education Info

Online Courses For Product Development Actuary That You May Like

Company Valuation & Financial Modeling
udemy
4.3
(1,756)

Learn comprehensive financial modeling, forecasting and business valuation techniques for Finance professionals...

Introduction to Actuarial Science
edX (Global)

You may have heard of actuarial science, or you might even know an actuary, but do you know what an actuary does? During the course you’ll hear from a wide variety of actuaries about their careers. And don’t be scared that the course will be “just a whole lot of mathematics”. Together, we will go beyond the math to learn how actuaries approach problems relating to risk, using examples from: Finance Investments Banking Insurance You will learn how actuarial science applies mathematical and...

Data Warehouse Development Process
udemy
4.3
(776)

Specific aspects of Data Warehouse Development Process...

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Top Product Development Actuary Employers

1. Nationwide Mutual Insurance ...
4.7
Avg. Salary: 
$129,661
Product Development Actuarys Hired: 
2+
2. Mutual of Omaha
4.8
Avg. Salary: 
$135,213
Product Development Actuarys Hired: 
2+
3. Smith Hanley Associates
4.3
Avg. Salary: 
$131,138
Product Development Actuarys Hired: 
1+
4. Legal & General America
4.8
Avg. Salary: 
$83,406
Product Development Actuarys Hired: 
1+
5. AXA
4.8
Avg. Salary: 
$143,977
Product Development Actuarys Hired: 
1+
6. Momentum
4.4
Avg. Salary: 
$83,404
Product Development Actuarys Hired: 
1+
Updated October 2, 2020