How Much Does an Entry Level Actuary Make? (2025)
Entry-level actuaries, often referred to as aspiring actuaries, play a critical role in analyzing data, developing predictive modeling techniques, and preparing reports under the supervision of experienced actuaries.
The entry level actuary salary is competitive, making it an attractive career for those with strong analytical skills. The Bureau of Labor Statistics projects a 22% growth in demand for actuaries from 2023 to 2033, driven by the need for expertise in managing risk across various industries. According to Salary.com, the average actuary starting salary as of July 1, 2025, is $80,801, with salary expectations influenced by key factors like geographic location, actuarial exams passed, and internship experience.
Keep reading this salary guide to explore the entry level actuary salary, the impact of actuarial exams, the highest-paying cities, and answers to common questions about the job and career path for actuaries.
What is the Entry Level Actuary’s Salary?
As of July 1, 2025, the average entry level actuary salary in the United States is $80,801 per year or $39 per hour, according to Salary.com. The salary range for an entry level actuary is between $67,619 and $96,085, with most actuarial salaries falling between $73,901 and $88,801 annually.
2025 Average Salary for Entry Level Actuary: $80,801 per year ($39 per hour)
The average entry level actuary monthly salary is $6,733 and a weekly pay of $1,554. The hourly pay for an entry level actuary is $39, reflecting the competitive earning potential for candidates entering this field.
| Percentile | By Hour | By Week | By Month | By Year |
|---|---|---|---|---|
| 10th Percentile | $33 | $1,300 | $5,635 | $67,619 |
| 25th Percentile | $36 | $1,421 | $6,158 | $73,901 |
| 50th Percentile (Median) | $39 | $1,554 | $6,733 | $80,801 |
| 75th Percentile | $43 | $1,708 | $7,400 | $88,801 |
| 90th Percentile | $46 | $1,848 | $8,007 | $96,085 |
Apart from base pay, entry-level actuaries often receive additional cash compensation, health benefits, and paid time off, contributing to a robust total compensation package. The average total compensation for an entry level actuary is $122,809 per year.
Entry Level Actuary Salaries State by State
Actuarial salaries vary significantly by state due to factors such as cost of living, local economies, and the presence of insurance companies, consulting firms, or other industries like finance.
The table below highlights that the highest-paying states for entry-level actuaries are the District of Columbia ($89,501), California ($89,101), and Massachusetts ($88,001). Conversely, the lowest average salaries are found in Mississippi ($72,101), West Virginia ($72,801), and Arkansas ($73,001).
| State | Average Annual Salary |
|---|---|
| Alaska | $87,501 |
| Alabama | $74,301 |
| Arkansas | $73,001 |
| Arizona | $78,801 |
| California | $89,101 |
| Colorado | $82,501 |
| Connecticut | $86,401 |
| District of Columbia | $89,501 |
| Delaware | $81,901 |
| Florida | $76,501 |
| Georgia | $78,001 |
| Hawaii | $84,501 |
| Iowa | $77,401 |
| Idaho | $75,501 |
| Illinois | $82,401 |
| Indiana | $77,601 |
| Kansas | $77,001 |
| Kentucky | $76,101 |
| Louisiana | $76,901 |
| Massachusetts | $88,001 |
| Maryland | $83,301 |
| Maine | $78,801 |
| Michigan | $79,601 |
| Minnesota | $82,701 |
| Missouri | $76,801 |
| Mississippi | $72,101 |
| Montana | $76,301 |
| North Carolina | $76,801 |
| North Dakota | $79,801 |
| Nebraska | $76,101 |
| New Hampshire | $81,701 |
| New Jersey | $87,601 |
| New Mexico | $74,901 |
| Nevada | $80,001 |
| New York | $85,901 |
| Ohio | $78,701 |
| Oklahoma | $74,701 |
| Oregon | $82,101 |
| Pennsylvania | $80,501 |
| Rhode Island | $83,801 |
| South Carolina | $75,701 |
| South Dakota | $73,501 |
| Tennessee | $75,501 |
| Texas | $78,801 |
| Utah | $77,401 |
| Virginia | $81,401 |
| Vermont | $79,301 |
| Washington | $87,601 |
| Wisconsin | $79,501 |
| West Virginia | $72,801 |
| Wyoming | $77,501 |
What are the Best-Paying Cities for Entry Level Actuaries?
Entry level actuary salaries also vary by city due to differences in cost of living, local demand, and the presence of insurance companies, consulting firms, and reinsurance employers.
California cities like San Jose and San Francisco lead with average salaries of $101,901 and $100,901, respectively, for entry-level actuaries.
| Cities | Average Pay |
|---|---|
| San Jose, CA | $101,901 |
| San Francisco, CA | $100,901 |
| Oakland, CA | $98,701 |
| New York, NY | $93,701 |
| Queens Village, NY | $93,101 |
| Paramus, NJ | $92,401 |
How Does Experience Affect Entry Level Actuary Salaries?
The salary for an entry level actuary grows as candidates gain experience and progress through actuarial exams. According to a Salary.com survey, entry-level actuaries with less than 1 year of experience earn an average of $80,379 per year, while experienced actuaries with over 8 years of experience earn an average of $83,462 per year. Internship experience and the number of actuarial exams passed are key factors in determining pay.
| Level | Average Pay |
|---|---|
| Entry Level Actuary | $80,379 |
| Intermediate Level Actuary | $81,134 |
| Senior Level Actuary | $82,880 |
| Specialist Level Actuary | $83,229 |
| Expert Level Actuary | $83,462 |
How to Increase Salary as an Entry Level Actuary?
Actuaries typically require a bachelor’s degree in mathematics, business, actuarial science, or some other analytical field, along with passing a series of actuarial exams administered by organizations like the Society of Actuaries (SOA) or Casualty Actuarial Society (CAS).
The earning potential for actuaries increases with exam progress, specialized skills, and experience in fields like casualty, life, health, or pension insurance.
Entry Level Actuary Advancements
- Build a strong portfolio: Employers, including insurance companies and consulting firms, value candidates with a proven track record in data analysis, predictive modeling, and risk assessment. A portfolio showcasing successful projects, such as pricing models for annuities or risk evaluations for casualty insurance, can lead to better job offers and higher pay by a few thousand dollars.
- Promotion: Entry-level actuaries can advance to roles like associate actuary, senior actuary, or even chief risk officer. These roles offer significantly higher pay and greater responsibilities. For example, Salary.com reports that actuarial directors earn between $142,500 and $211,500 per year, depending on the industry and geographic location.
- Specialization: Focusing on high-demand areas like actuarial modeling, data science, or financial analysis can boost salaries. For instance, life insurance actuaries or pension actuaries with expertise in predictive modeling may command higher pay. Certifications such as Associate of the Society of Actuaries (ASA) or Fellow of the Society of Actuaries (FSA) enhance credentials and attract competitive job offers.
- Education: Earning a master’s degree in mathematics, business, actuarial science, or some other analytical field can lead to senior roles. Ongoing education in areas like statistics or finance also builds skills that support career and salary growth. Most employers provide support for study materials and exam fees to encourage exam progress.
Entry Level Actuary Skills
Entry-level actuaries with in-demand skills can significantly increase their salaries. According to a Real-time Job Posting Salary Data Report, actuaries with actuarial modeling skills can earn a +10.98% salary increase, while those proficient in programming languages like Python see a +7.42% increase.
| Skill | Demand | Salary Increase |
|---|---|---|
| Actuarial Modeling | 4.90% | +10.98% |
| Programming Languages | 5.01% | +8.03% |
| Python | 9.77% | +7.42% |
| Financial Analysis | 6.89% | +5.30% |
| Financial Reporting | 7.20% | +5.04% |
| Actuarial Function | 57.20% | +5.02% |
What are the FAQs About Entry Level Actuary Salaries?
Here are some common questions about entry level actuary salaries:
How much do entry-level actuaries get paid?
As of July 1, 2025, the average entry level actuary in the U.S. earns $80,801 per year or $39 per hour, according to Salary.com. In contrast, experienced actuaries, such as those in senior roles, earn between $142,500 and $211,500 annually, depending on factors like industry and location.
What does an entry-level actuary do?
An entry-level actuary analyzes data, develops predictive models, and prepares reports under the supervision of senior actuaries. They work closely with life insurance actuaries, casualty insurance actuaries, or pension actuaries to assess risks and ensure accurate financial projections for products like life and health insurance or annuities. Their work often involves collaboration with statisticians and auditors to align with industry standards.
How long does it take to become an entry-level actuary?
To become an entry-level actuary, candidates typically need a bachelor’s degree in mathematics, business, actuarial science, or some other analytical field, along with 1–2 years of internship experience or entry-level work. Passing one or two actuarial exams (e.g., SOA or CAS exams) is also required by most employers. Advancing to senior roles or other fields like data science often requires additional exams and certifications.
