<p>If you&rsquo;re exploring a career in actuarial science, you&rsquo;ve probably noticed two roles popping up everywhere: Actuarial Analyst and Actuary. At first, they might sound similar. But in reality, these roles are quite different&mdash;and understanding how they fit together is key to mapping out your own career.</p>
<p>Maybe you&rsquo;re a recent graduate wondering where to start, or maybe you&rsquo;re already working on your first actuarial exams and want to know what comes next. Wherever you are, this guide will break down the differences in plain language, so you can confidently choose your next step.</p>
<h2><strong>What Does an Actuarial Analyst Do?</strong></h2>
<p>Actuarial analysts are often just starting out in the actuarial world. This job is a great entry point, letting you put your education into practice, learn industry tools, and work side by side with experienced actuaries.</p>
<p>As an actuarial analyst, you&rsquo;ll:</p>
<ul>
<li>Work with data, spreadsheets, and numbers almost every day</li>
<li>Help prepare calculations and reports for insurance, pensions, or financial risk projects</li>
<li>Double-check data for errors and make sure everything is accurate</li>
<li>Use tools like Excel, SQL, R, or Python to analyze information</li>
<li>Support the work of credentialed actuaries, learning from them as you go</li>
</ul>
<p>Most actuarial analysts have a degree in math, statistics, actuarial science, or something similar. They&rsquo;re usually working on passing their first actuarial exams.</p>
<h2><strong>What Does an Actuary Do?</strong></h2>
<p>Actuaries are professionals who have passed a series of tough exams and earned credentials from an actuarial society. They&rsquo;re the decision-makers of the team, responsible for designing models, making key business recommendations, and signing off on important projects.</p>
<p>As an actuary, your job includes:</p>
<ul>
<li>Creating and reviewing the calculations that analysts prepare</li>
<li>Making important assumptions for projects and strategies</li>
<li>Signing official documents and reports</li>
<li>Explaining complex results to managers, clients, or company boards</li>
<li>Taking responsibility for the accuracy and reliability of all actuarial work</li>
</ul>
<p>Becoming an actuary takes dedication. It usually means passing multiple exams over several years, building up experience, and developing strong communication skills.</p>
<h2><strong>Key Differences in Everyday Work</strong></h2>
<ul>
<li>Actuarial analysts are hands-on with data and numbers. Their days involve analyzing information, running models, and learning from their managers.</li>
<li>Actuaries focus on the big picture&mdash;reviewing the work, making decisions, explaining results, and leading the team.</li>
<li>Analysts are usually supervised, while actuaries have more independence and responsibility.</li>
</ul>
<h2><strong>How to Become an Actuarial Analyst</strong></h2>
<ol>
<li>Get a degree in math, statistics, actuarial science, or a related field.</li>
<li>Pass at least one actuarial exam (Exam P, FM, or similar).</li>
<li>Apply for <a href="https://www.actuarylist.com/experience-levels/graduate" class="link underline">entry-level roles</a> like &ldquo;actuarial analyst&rdquo; or &ldquo;junior actuary.&rdquo;</li>
<li>Build your skills with tools like Excel and basic programming.</li>
<li>Try to get an actuarial internship&mdash;it really helps your chances!</li>
</ol>
<h2><strong>How to Move Up to Actuary</strong></h2>
<ul>
<li>Keep passing more actuarial exams and work toward credentials like ASA, FSA, ACAS, or FCAS.</li>
<li>Take on extra projects and look for opportunities to present your work or take on responsibility.</li>
<li>Learn from senior actuaries&mdash;ask questions, get feedback, and keep improving.</li>
<li>Build your <a href="https://www.actuarylist.com/blog/essential-soft-skills-for-actuaries" class="link underline">communication skills</a> so you can explain technical results in a simple way.</li>
</ul>
<p>Most people start as analysts and, as they pass exams and gain experience, work their way up to full actuary roles.</p>
<h2><strong>Salary Differences</strong></h2>
<ul>
<li>Actuarial analysts usually start between $60,000&ndash;$80,000 USD per year, with salaries increasing as you pass more exams.</li>
<li>Actuaries (with credentials) can earn $90,000&ndash;$150,000 USD or more, especially in senior positions.</li>
</ul>
<h2><strong>Which Path Is Right for You?</strong></h2>
<p>If you&rsquo;re starting out, an actuarial analyst position is the perfect first step. As you pass exams and gain experience, you can aim for a full actuary role&mdash;where you&rsquo;ll take on more responsibility, earn a higher salary, and have a bigger impact on your company or clients.</p>
<p>Both roles offer strong job security, great growth, and the chance to work on interesting, real-world problems.</p>
<h2><strong>Final Thoughts</strong></h2>
<p>Almost every actuary began their career as an analyst&mdash;learning, growing, and building the foundation for a successful future. If you&rsquo;re curious, motivated, and willing to put in the work, you can do the same. Start as an analyst, keep learning, and soon you&rsquo;ll be the one making the big decisions as an actuary.</p>
<p>Ready to explore actuarial analyst or actuary jobs? <a href="https://www.actuarylist.com/" class="link underline">See the latest openings here!</a></p>
<h2><strong>Frequently Asked Questions</strong></h2>
<ol>
<li><strong> What does an actuarial analyst do?<br /></strong>An actuarial analyst prepares data, runs calculations, and supports actuaries with technical analysis and reporting.</li>
<li><strong> What is the difference between an actuarial analyst and an actuary?<br /></strong>An actuarial analyst works under supervision, while an actuary is fully credentialed and makes key decisions.</li>
<li><strong> What is the career path from actuarial analyst to actuary?<br /></strong>Start as an actuarial analyst, pass exams, and move up to credentialed actuary roles as you gain experience.</li>
<li><strong> Is it worth becoming an actuary?<br /></strong>If you love math, problem-solving, and want a career with good pay and stability, yes&mdash;it&rsquo;s a rewarding path.</li>
</ol>

Discover the main differences between actuarial analyst and actuary roles. Learn about job responsibilities, career paths, exam requirements, and salary expectations for each in 2025.

Actuarial Analyst vs. Actuary: What&rsquo;s the Real Difference?

Actuarial Analyst vs. Actuary: What’s the Real Difference?