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Product development actuary vs product development engineer

The differences between product development actuaries and product development engineers can be seen in a few details. Each job has different responsibilities and duties. Additionally, a product development actuary has an average salary of $116,008, which is higher than the $86,075 average annual salary of a product development engineer.

The top three skills for a product development actuary include FSA, administration system and SQL. The most important skills for a product development engineer are CAD, solidworks, and product development.

Product development actuary vs product development engineer overview

Product Development ActuaryProduct Development Engineer
Yearly salary$116,008$86,075
Hourly rate$55.77$41.38
Growth rate21%2%
Number of jobs102,481202,155
Job satisfaction--
Most common degreeBachelor's Degree, 60%Bachelor's Degree, 75%
Average age3941
Years of experience-6

Product development actuary vs product development engineer salary

Product development actuaries and product development engineers have different pay scales, as shown below.

Product Development ActuaryProduct Development Engineer
Average salary$116,008$86,075
Salary rangeBetween $75,000 And $178,000Between $64,000 And $113,000
Highest paying City-Sunnyvale, CA
Highest paying state-California
Best paying company-Amazon
Best paying industry-Technology

Differences between product development actuary and product development engineer education

There are a few differences between a product development actuary and a product development engineer in terms of educational background:

Product Development ActuaryProduct Development Engineer
Most common degreeBachelor's Degree, 60%Bachelor's Degree, 75%
Most common majorMathematicsMechanical Engineering
Most common collegeUniversity of PennsylvaniaMichigan Technological University

Product development actuary vs product development engineer demographics

Here are the differences between product development actuaries' and product development engineers' demographics:

Product Development ActuaryProduct Development Engineer
Average age3941
Gender ratioMale, 76.2% Female, 23.8%Male, 86.8% Female, 13.2%
Race ratioBlack or African American, 2.9% Unknown, 2.9% Hispanic or Latino, 3.4% Asian, 16.5% White, 74.3% American Indian and Alaska Native, 0.0%Black or African American, 3.1% Unknown, 4.5% Hispanic or Latino, 7.8% Asian, 16.7% White, 67.9% American Indian and Alaska Native, 0.1%
LGBT Percentage18%5%

Differences between product development actuary and product development engineer duties and responsibilities

Product development actuary example responsibilities.

  • Manage design control including FMEA risk analysis, surgeon clinical input documentation, design verification and validation activities.
  • Generate nutrition information and ingredient statements for each product, according to FDA and international labeling regulations.
  • Design and develop aircraft seal devices through engineering analysis, prototyping, risk assessment and appropriate qualification testing with customer expectation.
  • Manage the design, implementation and oversight of all insurance and reinsurancepricing functions and processes for corporation.

Product development engineer example responsibilities.

  • Manage design control including FMEA risk analysis, surgeon clinical input documentation, design verification and validation activities.
  • Manage project from conceptual design through final debugging and animal/clinical testing resulting in a new business unit within the company.
  • Create java test template design to vary equation specs and loop pattern bursts.
  • Develop and maintain websites in HTML, CSS and JAVA script by writing, debugging, and testing.
  • Set up, troubleshot and maintain the Linux and Unix machines used in the development, build and test of ADINA.
  • Participate in engineering DFMEA activities.
  • Show more

Product development actuary vs product development engineer skills

Common product development actuary skills
  • FSA, 51%
  • Administration System, 14%
  • SQL, 13%
  • Annuities, 11%
  • Life Insurance Products, 6%
  • Projection, 3%
Common product development engineer skills
  • CAD, 6%
  • Solidworks, 5%
  • Product Development, 5%
  • Project Management, 4%
  • Data Analysis, 4%
  • Product Design, 4%

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