Are you considering a career as an actuarial analyst and wondering what kind of salary comes with the role? You're not alone. Salary is one of the biggest factors influencing career decisions&mdash;especially in a profession that demands rigorous exams and technical skills like actuarial science.
The actuarial analyst position is often the first professional step for students and recent graduates entering the field. But unlike many entry-level roles, actuarial analysts don&rsquo;t just start with competitive pay&mdash;they also have a clear path for steady income growth, largely driven by how many actuarial exams they've passed, the technical tools they master, and even the city they work in.
So if you're asking, &ldquo;How much can I realistically earn in my first few years?&rdquo; or &ldquo;Will my salary double if I pass more exams or relocate?&rdquo;&mdash;you&rsquo;re in the right place.
In this guide, we go beyond just average numbers. You&rsquo;ll learn:
<ul>
<li>What the typical actuarial analyst earns in 2025 based on experience, exams, and skills</li>
<li>How each actuarial exam you pass can directly boost your income</li>
<li>What cities, industries, and technical skills unlock higher salaries</li>
<li>Real data from our job listings to show where top-paying opportunities are</li>
</ul>
Whether you're just beginning your journey or already partway through the exam process, this breakdown will help you understand your true earning potential&mdash;and how to accelerate it.
<h2>What&rsquo;s the Average Salary of an Actuarial Analyst in 2025?</h2>
Most actuarial analysts in the U.S. earn between $60,000 and $85,000 per year, with several key factors pushing salaries above the $100K mark over time.
<h3>Quick Ranges Based on Experience:</h3>
<ul>
<li>0&ndash;1 Years (No Exams): $60,000 &ndash; $65,000</li>
<li>1&ndash;2 Exams Passed: $70,000 &ndash; $75,000</li>
<li>3&ndash;4 Exams Passed: $75,000 &ndash; $85,000</li>
<li>5+ Exams or Near ASA: $90,000 &ndash; $110,000+</li>
</ul>
<h2>Salary Growth by Exam Progression</h2>
One of the most predictable ways to grow your income as an actuarial analyst is to pass more exams. Many companies offer pay bumps of $5,000&ndash;$10,000 per exam, especially early on.
Here&rsquo;s a visual breakdown:
<table width="624">
<tbody>
<tr>
<td width="312">
Exams Passed
</td>
<td width="312">
Average Salary (USD)
</td>
</tr>
<tr>
<td width="312">
0 Exams
</td>
<td width="312">
$60,000 &ndash; $65,000
</td>
</tr>
<tr>
<td width="312">
1 Exam
</td>
<td width="312">
$65,000 &ndash; $70,000
</td>
</tr>
<tr>
<td width="312">
2 Exams
</td>
<td width="312">
$70,000 &ndash; $75,000
</td>
</tr>
<tr>
<td width="312">
3&ndash;4 Exams
</td>
<td width="312">
$75,000 &ndash; $85,000
</td>
</tr>
<tr>
<td width="312">
5+ Exams
</td>
<td width="312">
$90,000 &ndash; $110,000
</td>
</tr>
</tbody>
</table>
Based on jobs posted on <a href="https://www.actuarylist.com/" class="link underline">ActuaryList.com</a>, candidates with 3+ exams tend to earn $10,000&ndash;$15,000 more than those with no exams.
<h2>What Impacts an Actuarial Analyst&rsquo;s Salary?</h2>
Several key factors shape how much you&rsquo;ll earn in this role. Let&rsquo;s break them down:
<h3>1. Exam Progress</h3>
Your exam progress is the single biggest driver of salary in the early stages. Employers often reward each passed exam with raises or bonuses.
Want to get ahead faster? Read our actuarial exam strategy guide to learn how to accelerate your progress.
<h3>2. Technical Skills</h3>
Actuarial work today goes far beyond Excel.
If you have experience with:
<ul>
<li>Python, R, or SQL</li>
<li>Tableau or Power BI</li>
<li>Actuarial software like GGY AXIS or MoSes</li>
</ul>
&hellip;you&rsquo;ll be seen as more valuable and get better offers.
<h3>3. Location</h3>
Salaries are heavily influenced by geography. High-cost cities pay more&mdash;but also cost more to live in.
<table width="624">
<tbody>
<tr>
<td width="312">
City
</td>
<td width="312">
Salary Range (USD)
</td>
</tr>
<tr>
<td width="312">
New York, NY
</td>
<td width="312">
$88,000 &ndash; $110,000
</td>
</tr>
<tr>
<td width="312">
Chicago, IL
</td>
<td width="312">
$75,000 &ndash; $95,000
</td>
</tr>
<tr>
<td width="312">
Dallas, TX
</td>
<td width="312">
$70,000 &ndash; $90,000
</td>
</tr>
<tr>
<td width="312">
San Francisco, CA
</td>
<td width="312">
$90,000 &ndash; $115,000
</td>
</tr>
<tr>
<td width="312">
Atlanta, GA
</td>
<td width="312">
$68,000 &ndash; $85,000
</td>
</tr>
</tbody>
</table>
<h3>4. Industry</h3>
Most analysts start in insurance or consulting, but other industries like finance, healthcare, and tech often offer higher compensation for actuarial skill sets.
<h2>Career Path: How Much Can You Make Over Time?</h2>
The actuarial field rewards consistency. Here's how your income could grow with time and credentials:
<table width="624">
<tbody>
<tr>
<td width="208">
Career Stage
</td>
<td width="208">
Typical Title
</td>
<td width="208">
Salary Range (USD)
</td>
</tr>
<tr>
<td width="208">
0&ndash;2 years
</td>
<td width="208">
Actuarial Analyst
</td>
<td width="208">
$60,000 &ndash; $75,000
</td>
</tr>
<tr>
<td width="208">
3&ndash;5 years
</td>
<td width="208">
Senior Analyst / Associate
</td>
<td width="208">
$80,000 &ndash; $100,000
</td>
</tr>
<tr>
<td width="208">
5&ndash;7 years + ASA/FSA
</td>
<td width="208">
Actuary / Senior Actuary
</td>
<td width="208">
$100,000 &ndash; $140,000+
</td>
</tr>
<tr>
<td width="208">
8+ years
</td>
<td width="208">
Manager / Director / VP
</td>
<td width="208">
$140,000 &ndash; $200,000+
</td>
</tr>
</tbody>
</table>
<h2>How to Boost Your Salary Faster</h2>
Here are some practical steps to raise your earnings:
<ul>
<li>Pass More Exams: Each exam is a ticket to a better paycheck.</li>
<li>Specialize Early: Pick a niche (pensions, life, health, pricing) and build deep expertise.</li>
<li>Leverage Job Mobility: Strategic job changes often come with big salary jumps.</li>
<li>Go Global or Remote: Remote roles or international employers (like in Canada or UK) may offer competitive packages.</li>
<li>Master Actuarial Tools: Excel is basic. Python + machine learning? Now we&rsquo;re talking.</li>
</ul>
<h2>Real Data From Our Job Board</h2>
As of April 2025, over 40% of actuarial analyst roles listed on <a href="https://www.actuarylist.com" class="link underline">Actuary List</a> offer salaries above $75,000. Positions that mention 2+ exams passed as a requirement are typically tied to higher-paying employers&mdash;especially in consulting and financial services.
<h2>FAQs &ndash; Actuarial Analyst Salary Questions</h2>
Q1: What&rsquo;s the starting salary for an actuarial analyst with no exams? Most entry-level analysts without exams earn $60,000&ndash;$65,000, depending on location and degree.
Q2: How many exams should I pass to reach $100K? Typically, analysts who pass 5&ndash;6 exams and gain 3&ndash;4 years of experience can cross the $100,000 mark, especially in large metro areas.
Q3: Which industry pays actuarial analysts the most? Consulting, healthcare analytics, and finance tend to offer higher salaries than traditional life insurance roles.
Q4: Can actuarial analysts work remotely in 2025? Yes&mdash;many employers now support hybrid or fully remote actuarial roles, expanding your geographic flexibility.
Q5: Are international actuarial analyst roles better paid? In some countries (e.g., Switzerland, UK), analysts with U.S. or Canadian credentials may command premium salaries, but visa/work restrictions can apply.
<h2>Final Thoughts</h2>
Becoming an actuarial analyst is more than just a job&mdash;it&rsquo;s the first step in a well-defined, highly rewarding career path. With a strategic approach to passing exams, building technical skills, and choosing the right roles, your earning potential can grow fast&mdash;even before you earn a full actuarial credential.
If you&rsquo;re currently in the early stages of your journey and want to understand how your salary and responsibilities evolve with each step, check out our dedicated page on <a href="https://www.actuarylist.com/experience-levels/part-qualified" class="link underline">actuary analyst actuary roles</a>. It breaks down what employers expect at this level and what kind of compensation you can aim for as you move toward ASA or FSA status.

Discover how much actuarial analysts earn in 2025. See salary growth by exams, skills, industry, and location with real-world data insights.

Actuarial Analyst Salary Guide 2025: How Much Can You Really Earn?