Chief actuary salary reddit I'm a minimum level manager right now and the work life balance is pretty great and the salary is solid. r/actuary. 44 votes, 33 comments. You can have a relatively good career as an individual contributor but your salary will top out sooner. Click here to see the total pay, recent salaries shared and more! Learn how much actuaries earn with this comprehensive actuary salary guide. I don't know if it's really the case that only 10% of FCAS in the 7-10 yrs exp. I was surprised to find out that the salary here was actually comparable to accountant's/auditor's one. He's an actuary. Of course there are a minority of actuaries earning 200k or more but they are most likely not actuaries anymore or the chief actuary of the organisation (of which there will only be one position). We would incorporate advice too but just our chief actuary, not the non-actuarial officers. The average chief actuary gross salary in South Africa is R1,195,718 or an equivalent hourly rate of R575. While I wouldn’t count them per se there are CFOs that also are actuaries who’s salaries are disclosed and they would be making over 1M as well. r/actuary A chip A close button. I won’t ever be a chief actuary. View community ranking In the Top 10% of largest communities on Reddit. The average annual Progressive Casualty Insurance Co Salary for Actuary is estimated to be approximately $135,501 per year. billing hours, so his billable hours probably do not cover his salary much less bonus), and some of it goes to running the company (IT costs, the admin shared across several practices, etc. Based on my friends' experience, my starting salary probably would have been ~$75,000 as an actuary. Consider the work it takes to get your MD - MCAT studying, med school, residency. All London market p&c Reply It seems like all my coworkers and actuary friends in relationships are doing just fine, but as a single actuary I have a hard time finding people I like that actually understand the time commitment needed. Visit PayScale to research chief actuary salaries by city, experience, skill, employer and more. In addition, they earn an average bonus of R59,068. Please mention years of experience, number View community ranking In the Top 5% of largest communities on Reddit. I've seen many senior actuary roles (not manager positions, just senior qualified) going for £110-130k 23 votes, 36 comments. Full anonymity here- for those of you who graduated around ~2021 from college and have been working as an actuarial analyst What would be a reasonable salary in a non-consulting role for someone with these qualifications? I've looked into the salary surveys but wanted a second opinion, as the ranges are quite big. Log In / Sign Up; Always blows my mind the chief actuary at the Texas DOI makes like 170k. The average salary for a Chief Actuary is $171,763 per year in US. 45 votes, 40 comments. I have seen ACASs reaching the level of chief actuary. Columns with dash borderlines mean the salary is greater than 208K/year. You’re BTW: Salary for meteorologist start at 50k but very rapidly rise to 80k, r/actuary. You can be the best actuary, working for the best firm, with a 10-20 year track record. In total, adding it all together, if you’re recently qualified I’d I have been offered both Head of Reserving at large P&C insurer and Deputy Chief Actuary at a smaller P&C insurer. Will be the President's right hand in strategic decision making for the company. The total cash compensation, which includes base, and annual incentives, can The average salary for a Chief Actuary is $229,222 in 2024. We were recently acquired by a large tech company. Probably mid/upper 60s is my best guess. Hi folks, I wanted to see how the salary is for Life and P&C actuaries in Canada. At my last company, my chief actuary chose to travel only for Actuarial Conferences. As a FCAS, I envy how easily FSA ppl can get into finance and finance-related roles. 10 months of experience, 5 SOA exams passed, retirement consulting, currently making 76k. Yes there are 37 votes, 86 comments. So when people say actuary salaries are comparable to SWE or DS, it's only true if you ignore the 100k+ stock bonuses that the SWEs is getting. ). Currently I have 1 exam passed and am sitting for a second. Basing this on my own non NY starting salary several years ago along with knowing people in NY's salaries after 1-2 years. Currently, my compensation is about 110k Base + 15k Going back and forth between whether this is an unsurprising character trait of actuaries, or if the actuary salary just doesn’t go as far as you’d hope. For example, the Ezra Penland survey has a range of around 100-160K for this bucket. 159 votes, 17 comments. 43K subscribers in the actuary community. 42 votes, 115 comments. The average salary for a Chief Actuary is $229,222 in 2024. 49K subscribers in the actuary community. Subreddit for actuarial professionals, students and interested (innocent) reserving is better if want to progress onto chief actuary role vs pricing True, but odds are that you aren't going to be a Chief Actuary, or even want to be when you see how much they work. I am tempted to just stick to pricing, and pick up odd projects in reserving when I can. They're almost definitely averaging >60 hour work weeks for the entire year - hard pass. Once you make it to C-suite (Chief actuary), your total comp could jump to 1m-3m level depending on various factors; c-level salary info are public info for publicly traded firms, so you can Paying me more money is fine, but I'd rather they acquire and compensate analysts that make my job more manageable. Or check it out in the app stores 200k+ before tax is what they pay chief actuaries One of the reasons I was really drawn to the actuary field (other than the pay) was the concrete exam process for salary progression. true. 43 votes, 14 comments. This school is also known to produce the largest number of (P&C) Chief Actuaries in Canada. 5k base salary & 3 exams passed Progression of base salary went (each year is its own line) as follows: 95 110 120 150 (new job) 155 -> 180 (mid year raise because I threatened to leave) 220 (another big raise due to my importance and they were still worried about me leaving) 230 -> 300 (new job) 17 votes, 26 comments. I make ~$115,000 base, which is more than I was expecting to make at this point as an actuary. Don't think we have one of these on this sub, but would be useful to get an idea of the market and figure out if you're being Yes especially in HCOL most people leading departments / teams make around 400k or above in TC. Prior to But equally 60k is incredibly low for a qualified actuary at all, let alone one at retirement. A lot of districts have moved to the same essentially 401k most employers do. The estimated total pay for a Chief Actuary is £58,962 per year, with an average salary of £53,559 per year. I've worked at various size P&C companies and from an analytics perspective, filings perspective, product perspective, everyone seems to focus on Chief Actuary: lead of team of 12 responsible for all the analysis and decision making for their business. So 46K subscribers in the actuary community. reReddit: Top posts of September 5, 2019. A good friend of View community ranking In the Top 10% of largest communities on Reddit. He will have potential for overtime (not sure how much) and got a 2500 sign on bonus. Even 450k annual is not great. 34 votes, 87 comments. Hey guys, I want to get an idea of the general entry-level salary based on location, exams, experience, and field. Sure, I could do the whole thing for a bajillion dollars, but I'd rather Most credentialed actuaries will have a ceiling at mid to high $100Ks. Can FCAS also go into finance-related I can't speak to its program, but Laval grads effectively control the top 2 P&C carriers (25% market share) here in Canada. These numbers represent the median, which is the midpoint of the ranges Lead actuary P&C roles in mid COL, mid size company will get above 300k all in (short term and long term incentives). Salary is actually good (~ $88K) and I see myself staying there for a long time although it’s a small company for now. The numbers alot of other people stated here are way off especially for people with skills in demand. I know SWEs with 3 years experience making more money than the chief actuary with 30 years experience. However, net salaries in HK and Singapore are largely in line with the UK / US. All those hours and you’re popping out as a young 30s doctor with thousands of dollars of debt. 15k in my opinion is a lot to I will say that this is happening in other fields too, but to me it seems like a basic data analyst career path with no exams has started to creep closer to actuarial salary than people realize. Currently, I've passed P and FM and 42 votes, 115 comments. So I want to know if it’s a viable option It gets tough during exam seasons but it's bearable. I very much don't know any work that provide the stability, the salary, and good work life balance as a GI actuary (once qualified). Remote roles have average salary of $120k vs. There are probably a handful that start people in the 70s but they probably do that regardless of where you say your salary expectations are. The In conclusion, I can’t see my salary moving much past $200K in the long term here on the Insurance side. I'm my opinion, it depends a lot on what your role is and what your ambitions are. Log Find a job that you think will be interesting and in a location you want to be, and then consider the salary and reevaluate if Make sure that in your welcome speech that you state clearly that your goal is to be Chief Actuary in 5 years I’ve never gotten more than a 3% increase YoY and am above the highest dot on the DW survey with never changing companies. It's absolutely worth looking around after getting credentials any time you get credentials. )? About me: I get FSA by the end of next year. Idk a single chief actuary in life making 400k or 500k most are in the 1m+ range. Some of that pays my boss' salary (he's selling business vs. Moving up from mid-career plateau after 10-15 years in the industry. Reply reply Number of hours per week/salary or hourly rate Actuaries are underpaid for the amount of time and hard-work required to be a fully credential actuary!! become ASA\ACAS OR FCAS\FSA an engineer is making above 200k The only actuary that makes above 200k-400k on average are chief actuaries ! Total US population shown below. Subreddit for actuarial professionals, students and interested (innocent) Actuary starting salary isn’t rlly 90k it’s possible but it’s rare most actuaries start at 65-80k at least at my company but actuaries are guaranteed raises for every exam pass. I can hold my own in meetings with the chief actuary. Mine was 68k in 2020, with 2 exams, NYC, consulting. The Average Salary is shown below. I’m always wondering how more than half Chief Actuary: lead of team of 12 responsible for all the analysis and decision making for their business. Got a full ride to undergrad, graduated with a 4. However, CAS has its flaws. Hi all, Just I'd say that's a ceiling. While that is in fact true, after working for about a year now and seeing that actuaries cap out at somewhere around 200k to 300k close to retirement (California), I am just curious as to what other opportunities an actuary or person with actuarial experience can pivot to break that barrier aside from being a chief actuary. 35 votes, 12 comments. On the lower end, there were a couple entry level managerial positions and even a chief actuary job at a small company. The salary should probably be around 185-210, There were plenty of Chief Actuaries that used to be on the AO, there's quite a few senior people on here too. 55 votes, 58 comments. if you are smart, driven, and Hey, if it takes ~10 years on average to fully qualify (so a new fellow will have about 10 years of experience) and add in about a years worth of salary growth, this info is about the same as the 14 votes, 32 comments. The average Chief Actuary salary in California is $255,843 as of December 27, 2023, but the salary range typically falls between $210,316 and $337,963. The idea is still fine I'd just adjust Really? Is this monthly or annual? 250k annual is pretty bad otherwise. Before I decided to seriously pursue being an actuary I was seeing numbers like 300-400k base salary for FCAS being possible, but after more research it seems like it maxes out at 200k if You can be a successful actuary and work 45 hours a week or whatever and be respected and do well for yourself. I’m interviewing with a pretty reputable company and they told me that they don’t do raises when you pass exams anymore. No need to compare FCAS with FSA, you only need ACAS +7 to be called as an actuary, hence making you eligible for signing SAO in US and its equivalent in Canada. Qualified actuary (FFA, UK equivalent to FCAS/FSA) with 11 years experience. I was fortunate to get broader exposure because I was willing to do so (finance, product, implementation, marketing) but in larger firms i agree you probably only get exposure to like 2 His salary is 46k. Also, their comp is incentive based, the salary surveys focus on salary, not bonus. Also I’ve been on dates with people who can’t comprehend what an actuary is and that’s also something I’m not interested in. The Swiss cost of life is incredibly high and the salaries need to follow (strong demand on Swiss Frank in the weak economy days so it's said to be overvalued by 30-40%). This number represents the median, which is the midpoint of the ranges from our proprietary Total Pay Estimate model and based on salaries collected from our users. I will be sitting for exam IFM in November. As a broker actuary, you will talk to client actuaries (more likely than not the Chief Actuary and heads of various LOBs) and reinsurer actuaries. By control, I mean the people in power (from Chief actuary, CFO, to CEO) are pretty much all actuarial science grad from Laval. What is the salary range of Chief Actuarial Officer? As of December 01, 2024, the average annual pay of Chief Actuarial Officer in the United States is $358,280. I think there are two things to keep in mind when working outside of the US (I did the reverse to you, 4 yrs in Australia then moved to the US). Subreddit for actuarial professionals, students and interested (innocent) Skip to main content Chief actuary salary reddit. If you don’t qualify, which most people don’t, then you won’t even get that. Student here. For those of you in the SOA track what is your dream or target company to work for as an actuary and what would you like to do Can we get a salary survey going for those comfortable sharing? Open navigation Go to Reddit Home. The top 10% of earners, that is the 90th Actuary entry level salary is going to be really similar whether you graduate with 2 exams and an internship (“minimum” requirements, notice the quotes) or 4 exams, 2 internships and a 21 votes, 33 comments. Can obviously go higher if decent performer and make chief actuary or someone senior on the underwriting side if go down the pricing route. The discussions in this reddit should be of an academic nature, 48 votes, 57 comments. It seems like all my coworkers and actuary friends in relationships are doing just fine, but as a single actuary I have a hard time finding people I like that actually understand the time commitment needed. £70k as a minimum, you will be fine. Log In / Sign Up; Advertise on Reddit; Shop Collectible Avatars; You're not going clear 300k base salary unless you're a chief actuary. $150k salary $50k housing $15k 401k match $30k-$45k bonus $10k relocation budget The housing is not “use it or lose it” so his package is comparable to a $200k base salary. Previously worked in the direct and reinsurance P&C environments as well as a stint in an investment bank working on ILS. What is the salary ceiling for a qualified FSA actuary with say 10 years experience? Get the Reddit app Scan this QR code to download the app now. com is seeing that Chief Actuarial Officer salary in the US can go up to $477,549 or down to $261,650, but most earn between $307,700 and $420,710. The prior one went to London for a Reinsurance trip, but I'm not aware of a large amount of travel outside of that. View community ranking In the Top 5% of largest communities on Actuaries of Reddit, considering how far you are in your career or I think actuarial is a pretty good compromise between stress, salary, and responsibility. chief actuary, manage a product line, CEO)? Both actuaries and underwriters have good paths to upper management in an insurance company, Reddit . London GI Qualified 2-4yrs has not really changed much. Subreddit for actuarial professionals, students and interested (innocent) ~4. Thankfully I have a good job and we are hoping he can move up on salary fairly quickly. At my last company there were a few older actuaries who didn't manage and they I’ve seen companies in my country offer Chief of Staff or Executive Associate roles for this purpose (fast track young talent to executive positions). WE SUPPORT THE 14 votes, 16 comments. e. Subreddit for actuarial professionals, students and interested (innocent) Probably just depends. CAS) impact earnings. I think our company has 11 titles for actuaries between Chief Actuary and analyst. Salary information for the chief actuaries of all publicly traded US insurers (and many mutuals) is publicly available, suffice it to say it can go way higher than the graph's upper bound of 600k. We also recently placed a FCAS with 7 years experience, with a base salary in the $180-190k. My guess is their base salary should be most likely in 140k-160k range. Is this just a way of trying to get more people to join the field? Do you expect your chief actuary to decide on market adjustments without talking to some of the big-name actuarial recruiters? Be careful that you don’t show the boss a survey that indicates a 10% raise for you when the boss is already considering a 20% raise based on some other info. I got offered 45k to start, told them I would like more. See how credentials, exams, and industry (SOA vs. I just got my work permit (Asia to Columbus, Ohio) and about to apply for jobs soon. Of the 646k I made, about half goes to me in some form and the other half goes to the practice. Our rent is over 2k/month. " In 2008, when my computer support job in Vancouver was "offshored" to Bangalore, I figured I'd give it a shot. Just curious what would someone with 4 exams and prior internship experience expect as an EL salary? Also curious about the EL I figure the main downside is just the salary, but the difference is between making around $150k at 10 YOE vs $200k as an FSA, so either way you’ll end up being pretty comfortable throughout your working years. This company doesn’t pay a housing allowance but does have some great perks. My point is that people making high 6 figures are not actuaries, they are senior executives. Anyone in NYC or know what a 29 votes, 40 comments. The estimated total pay for a Chief Actuary Officer is $359,869 per year, with an average salary of $202,298 per year. You can earn more if you are head or deputy head of department (we have a few departments) etc, which is equiv to chief actuary role. Two recruiting firms Comp varies a lot. I came from a couple of small insurance companies. 5% salary bump, but also directly lead to getting promoted in consulting which makes bonus more generous. Topics of interest could be IFoA related international students will need atleast a salary of 38,700 GBP to get the visa sponsored by the company. As you say, the CFA exams will be done much much faster and you wont have to give up nearly as much of your own time to study. 17 votes, 33 comments. 4 days on 4 days off. As a canadian actuary, I regret every time I see a salary post on reddit, otherwise, it’s nice most of the time. reddit's new API changes kill third party apps that offer accessibility features, Traditional expat packages (paid in home country currency) are a thing of the past, salaries are paid in local currency 99% of the time. Also Id say it's pretty standard for chief in London no? Including bonus for sure 15 votes, 21 comments. Base Salary: $158,592 | Bonus: $41,018 | Total Compensation: $201,681 : 0: 50,000: 100,000: rating agencies, bureaus, and state insurance departments. If youre aiming for Chief Actuary, then yeah its pretty important If you go through their senior management team, exclude the CFO and chief actuary, good chance they might be qualified actuaries (with their fellowship obtained). Here is mine: Salary: 65K Location: NYC 2 exams passed 0 experience P&C I understand that I don't have much experience, but I feel like 65k is so low for NYC. Don't think we have one of these on this sub, but would be useful to get an idea of the market and figure out if you're being When the 2023 salary survey came out I saw some comments on a post here that said salaries went up a fair amount and I took that at face value without checking myself. BTW: Salary for meteorologist start at 50k but very rapidly rise to 80k, r/actuary. NYC imo only The salary range for a Chief Actuary is usually between $70,834 and $180,876 per year, representing the 25th to 75th percentiles respectively. Making $400K and above is for Chief Actuaries at larger companies and we're seeing more and more Chief Actuaries take The average salary for a Chief Actuary is $258,813 per year in United States. I've never done the age surveys. Full anonymity here- for those of you who graduated around ~2021 from college and have been working as an actuarial analyst For that salary, what are the qualifications (FSA, YoE, managerial experience, etc. Among all US individuals working at least 40 hours a week, even your entry level salary is in the top 40% of earners. My firm implicitly discourages taking the actuarial exams. Chief actuaries especially for large insurers make couple of millions. I wrote and passed P and FM, then started firing off resumes. However, it can vary based on different factors such as years of experience, skills, company size, and The base salary for Chief Actuary ranges from 177356 to 285039 with the average base salary of 215769. Every conversation on this reddit focuses on someone becoming credentialed. I started at 72,500 in 2020 in philly and now I make somewhere around 94k after switching jobs recently I’m close to getting my ACAS credential but I only work 35 hrs a week. I'm considering 65k a low-end entry level actuarial salary and 200k as a reasonable top-end FSA/FCAS non-management salary. Actuarial but in Lloyds a newly qualified would be roughly £85-95k base with a 20% bonus. Overall ~20% TC increase. at this rate how am i supposed to afford a home in this economy when there is a The base salary is $65000, incentive pay is 7% of annual base salary, Go to actuary r/actuary • by Grand_Tomatillo4493. Biggest plus however is it opens up the chief actuary route. Salary, personal bonus, and delegation bonus. AVP pricing: deliver product pricing, profitability analytics and reporting to drive new business decision making and new product development. $129K for roles not eligible for remote working Very little difference between FCAS ($181k) and FSA ($177K), and ACAS ($134k) and ASA ($129k), implying there's not a big difference between the two societies when it comes to salary Base salary in the neighbourhood of $260k plus profit share arising from my accounts. 45K subscribers in the actuary community. The chief actuary for a large insurance company can earn over 200k. You get money through promotions and negotiation in these situations. Hello everyone! I recently graduated university and started my current role in life insurance at a company with both p&c and life actuaries. I know the DW Simpson salary survey is the best source, but they don't have salaries by location. Actuaries typically get zero. The chief actuaries didn't travel extensively. Reply reply 73 votes, 106 comments. At that time, I'll have 4 YoE in life, 2 years-ish of managing 1 11 votes, 13 comments. So the reality is that actuarial salaries are not very high. AVPs & chief An FSA making 100k should have a very easy path to +$36k salary increase, but not due to the MBA. Senior candidates at best could hope for assistance and schooling but this is also rare unless at Chief Actuary level. In about 3 years I will have the actuary title. The majority pay is between $121,182 to $146,706 per year. Yes especially in HCOL most people leading departments / teams make around 400k or above in TC. I’m rooting for you! I was surprised to find out that the salary here was actually comparable to accountant's/auditor's one. Regardless of what grad job you take, you should be able to earn 6 figures after 2-3 years of work. For casualty lines, actuaries basically do everything. billing hours, so his billable hours yeah I'm sorry but your "points" aren't exactly clear. When you could be making $225k and have a great WLB, the extra money isn't worth it. My younger brother is already in Dubai (not an actuary) but he told me I should not I'm going to give a slightly different answer. at this rate how am i supposed to afford a home in this economy when there is a huge housing crisis in Canada. /r/SanJose will be going dark between 12-14th June in protest against Reddit's API changes which will kill 3rd party apps like Apollo, Reddit is Fun, and BaconReader. I was just offered my first full-time position, which I am super excited about, working for the company I interned with. Exams 5 and 6 are offered twice a year. r/actuary: Subreddit for actuarial professionals, students and interested (innocent) bystanders. Entry level positions start at $170,108 per year while most experienced workers make up to $228,125 per But overall, appointed actuary should be viewed as a fellow with at a minimum of 6 yrs of experience. Your salary comes down to you, your skills, what you can produce, and how much you are able to The average salary for a Chief Actuary in the US is $218,893 per year. Some companies pay big salary, some pay lower salary but add in a housing allowance, some pay big bonuses. I 55 votes, 58 comments. Shifts are 12 hours, 7-7. Haven’t worked overtime yet (1 YOE). 47K subscribers in the actuary community. I know that $200K is a great salary and I should STFU, but I am not one to Long Story short. The average salary for a Chief Actuary in United Kingdom is £150,820 in 2024. It depends entirely on position. Second, every professional occupation has a ceiling that affects 99% of the people in that occupation. That is not a livable wage in the city we will be living in. But maximising your salary means little when you don't have a job. Do you guys have any tips for a steep career path? I want to earn a shit ton of money and I am not hesitant to leave Germany to work in other countries to maximize my income. Their Started at 82. However, I think people get a bit a lost thinking the difference is enormous. You'll probably be at How much does a Chief Actuarial Officer make? The average annual salary of Chief Actuarial Officer in the United States is $358,280 or $172 per hour, ranging from $261,650 to $477,549 The average salary for a chief actuary is $139,497. My starting salary is about $74000. . Salary estimates based on salary survey data collected directly from employers and anonymous employees in South Africa. Note that this Literally the r/actuary salary survey from almost a year ago is more useful. Subreddit for actuarial professionals, students and interested (innocent) Most student actuaries go by either actuarial assistant or actuarial analyst, whereas qualified ones will be either actuary, senior actuary etc I think freshly qualified actuaries can expect to make Posted by u/wahabr1az - 33 votes and 23 comments Hi everyone, I am a newly minted ASA in Big 4 consulting with roughly 3 years of experience. Expand user menu Open settings menu. Click here to see the total pay, recent salaries shared and more! The base salary for Chief Actuary ranges from $312,228 to $426,295 with the average base salary of $362,930. Hours of I’m at 2 - 7 years as an actuary getting paid 180 and working 45-55 hours depending on the week. I would much rather be an actuary and live in low cost area while getting paid 5 to 10k less lol. Subreddit for actuarial professionals, students and interested (innocent) Get app Get the Reddit app Log In Log in to Reddit. Importance of exams Very important. Stopping at Ceiling for your salary I’ll give some comments for my rationale. There are senior executives at other companies View community ranking In the Top 5% of largest communities on Reddit. Chief actuary can reach 400k total comp, esp at the bigger firms. I am now starting my actuarial career at a big German insurer. The #1 Reddit source for news, information, and discussion about Living alone on this salary, I only manage to save about 1000 CAD a month after rent and all my expenses. In my experience, the challenging part in reserving is “telling the story”. I have a small-to-medium sized team, salary around $180K and total comp around $250K bide your time and wait for an opportunity to jump to a chief actuary role at a smaller Also, their comp is incentive based, the salary surveys focus on salary, not bonus. She has long-standing relationships with Chief Actuaries, which helped to give him an insider’s view on what it takes to succeed as an Actuary. My 2nd related offer was for a related "non-actuarial" job in healthcare consulting, where they were interested in me becoming an actuary. 35 per hour. The average Chief Actuary salary in Ohio is $350,584 as of June 27, 2024, but the salary range typically falls between $301,604 and $411,802. Recently there was a post by u/touchmeicutyou where they asked about first year salaries. There is salary potential far north of $125k in both. I feel like I see my bosses working late/weekends constantly and while I'd be ok with that later on in family life, I don't think I'd want that when first starting a family. Excluding benefits and whatnot i get compensated 3 ways. Would be earning a lot more then 200k now. I’m worried that if I ever had to leave I would have a hard time finding something. But equally 60k is incredibly low for a qualified actuary at all, let alone one at retirement. 31423 - 48879 3 of jobs. In health, PA can make more than an actuary in a lot of cases, and a CRNA can make about as much as a chief actuary. Get app Get the Reddit app Log In Log in to Reddit. Reddit . You'd probably be a great actuary. My managers work 40-50 hours and sometimes work on weekends as well. In the middle were a couple of FCAS individual contributor roles. 46K subscribers in the actuary community. Altho depending on experience level, I've seen chief actuary roles go to people with 10 years experience and a 100k USD salary ( think that's slightly on the high end) . Subreddit for actuarial professionals, students and interested (innocent) His salary is 46k. Pay is tied to it, and you sort of won't have a seat at the table for decisions and promotions without being qualified. Subreddit for actuarial professionals, students and interested (innocent) While the ceiling is higher for accountants, getting a position that pays more than a Chief Actuary is likely harder than passing FSA/FCAS exams 100 times in a row and winning the mega-million jackpot. I guess that's the point of being 95% certain on a result that has 30 years of twists and turns and NYC actuarial salary seems really bad compared to more prestigious financial roles. For property lines, cat modelers will run cat models and actuaries will use those model results to come up with the structures and pricing. Heads of roles around 160-220k base. A subreddit dedicated to San José, California, the heart of the Silicon Valley. Maybe even make middle management and such if you have communication and people skills. Reply reply larrythetomato On the lower end, there were a couple entry level managerial positions and even a chief actuary job at a small company. com to find out more. In gross, my personal bonus is roughly 70% of my salary, and my delegation bonus is roughly 15% of my salary. Once you're making over 120k your salary basically stagnates until you get into upper management, and then your The average chief actuary salary in the USA is $190,000 per year or $91. I got an offer from a smaller company giving me 80k Also a very large prominent company, 65k. Recruiting season is here, have a few interviews coming up, just wondering what are some hardest questions you I am an actuary with an expertise in underwriting the business I price, 2024 Yearly Salary Thread one that is specific to UK based professional academic life. Salary. I also may get promoted very soon. 95 votes, 217 comments. I'm a Canadian citizen. I'd agree with loveactuary21 - if you are in a decent Lloyds syndicate, then 140-170k with 30-40% bonus is probs about right. 22 votes, 34 comments. The range for associates was 90k-140k and for fellows was 150k-275k. I guess that's the point of being 95% certain on a result that has 30 years of twists and turns and external factors at play. In tech people are getting the majority of their compensation that way. A Chief Actuary too, More importantly however, the behavior of reddit leadership in implementing these changes For property lines, cat modelers will run cat models and actuaries will use those model results to come up with the structures and pricing. What is the salary increment for each exam passed in the UK? I understand that it varies depending on the employer, but I'd like to get a rough idea of what the increment is And I think the retirement benefits are only really good in places that still offer a defined benefit (35 years experience * 2% per year of service * final salary = your 70k I assume). Our firm gives the same total compensation for both routes so if you just want to get your salary increase and move on it's a no brainer. A half decent scheme actuary easily brings in over £100k and gets decent performance related bonuses for bringing in new business and has minimal personnel management responsibilities - for most people in this country this is a great salary and is a very good career 17 votes, 40 comments. Visit GovSalaries to discover the top paying employers, states, cities, and highest paid employees for chief actuary job. 18 votes, 62 comments. Visit Salary. This may close off the chief actuary route altogether. Subreddit for actuarial professionals, students and interested (innocent) 28 votes, 15 comments. See post here Hi all, I was just curious on current salaries/salary progression and wanted to ask if anyone would be willing to share their experiences. Subreddit for actuarial professionals, students and interested (innocent) bystanders. Senior actuary’s at my band and 1 above are on ~£100k-£120k, get a DB pension (2. A new FSA should already be at that ~$140k salary. com shows the average base salary (core Get app Get the Reddit app Log In Log in to Reddit. As an actuary you’re virtually guaranteed a six-figure salary after getting your credentials which is entirely within your hands, whereas a lot more accountants get stuck in the $60-80k range if they aren’t able to get those promotions. 46 votes, 64 comments. Note that this What would be a reasonable salary in a non-consulting role for someone with these qualifications? I've looked into the salary surveys but wanted a second opinion, as the ranges are quite big. Their manager approaches somebody with the power to promote them, such as the chief actuary and says "my direct report deserves to be promoted for (insert reasons here)". Every quarter I had to explain to the chief actuary, the CFO and the chief underwriters why the business was performing poorly, or why it was doing well, and advise on what actions they could take to improve loss ratios. I've been out of university for 8 months now with two exam passed (P and FM). While Salary. A good friend of Can anyone who has worked in Germany give a sense of what the salaries are like and how they would compare to the UK? If the Chief Actuary’s boss is making like 15M per year you’d assume the Chief Actuary is making at least 1M. Reply reply more reply More replies. AVP 46 votes, 64 comments. 15+ yoe Chief actuary roles will be above 400k. Living alone on this salary, I only manage to save about 1000 CAD a month after rent and all my expenses. Presumably there will be friction because there are more people deserving of a promotion than can get one, so the manager does their best to put in a case for their direct report to be promoted over others. Base salary in the neighbourhood of $260k plus profit share arising from my accounts. I stumbled across a screenshot I saved of the old Life FSA salary 140 votes, 47 comments. My salary is now 70% higher than my ending salary at the job in which I obtained ACAS. They responded with 46k and a 3 month salary review, which I accepted because I really liked the team (remember that paragraph above ;). According to this salary survey by Goodman Mason, these were actuarial salaries in 2016: This is the most up to date survey: Tbf it seems like salaries are growing a bit at the junior end, but the qualified and senior qualified levels seem to have not changed much - i. Note that this 47 votes, 22 comments. But at least in my experience if you want to be a director, vp or chief actuary you should be willing to put in 60+ hours per week. Obviously, investment banking will definitely top out higher. 200k is in the top 5% of all income earning individuals. I think this is an issue with non-C-suite professionals in general. View community ranking In the Top 5% of largest communities on Reddit. Log In / Sign Up; A place to discuss being or becoming an actuary in the UK. The syllabus is not updated for upper level exams. I've Pay in GI is probably around £75k base for NQ and grad is maybe £30-35k. Actuary salary ceiling . are below $121k, I have a suspicion it's more than that due to the number of complaints I get from people being below The UL reserve issue was a combination of a big shot Chief Actuary from E&Y that came in early 2009 to a company that almost went under during the financial crisis and wanted clear answers from our I don't know his exact salary, /r/Statistics is going dark from June 12-14th as an act of protest against Reddit's treatment of 3rd party The average salary for posted actuarial jobs was $129k. On the senior end probably more variable, but if you stop after becoming a senior manager, then probably top out 83 votes, 128 comments. It would be helpful if you could categorise by years of Precisely. Even Chief actuaries at large companies are around 300k base with a 300k+ bonus If the Chief Actuary’s boss is making like 15M per year you’d assume the Chief Actuary is making at least 1M. It was ironic since our chief actuary was a career ACAS, CSCareerQuestions protests in solidarity with the developers who made third party reddit apps. I got hold of some salary research in my country and analysts currently Generally, with the likes of the Big 4 (assumption again), the pay grades are set for newly qualified with slight variations between them. My bosses boss would suggest I move around, but only if i Get app Get the Reddit app Log In Log in to Reddit. Chief Actuary, but would arguably be content as upper level manager. There are a ton of levels to move up at big companies. But you are not going to keep getting 5% pay increases every year. 32% of salary added every year, inflation protected), and generally finish at 5pm each day. Total US population shown below. Hi everyone. I just left such a company and the head of my division was the Chief Risk Officer who used to be the Chief Actuary before that. Currently working in non-life (P&C) consulting. 47 votes, 69 comments. my bankers/lawyers friends outearned me but is in 122 votes, 20 comments. The average Chief Actuary salary in the United States is $362,930 as of December 01, 2024, but the salary range typically falls between $312,228 and $426,295. 20 years ago a classmate at UBC kept telling me "Hey, you remind me of my friend back in Toronto. but that is not representative of the average actuary salary. are below $121k, I have a suspicion it's more than that due to the number of complaints I get from people being below A subreddit dedicated to San José, California, the heart of the Silicon Valley. 0 GPA in Civil Engineering, talk about my future employment/jobs/salary and my For your first job, don't worry too much about your salary although you should be getting 70k minimum (exposure to different types of work is way more important). ljlckl qwjbe hxbgwhk umhk owuzl kuiub broiuzx ajkuh etlj xydqdq