Actuary salary in 2019: remuneration by country

The salary of an actuary varies from one country to another and from one area of expertise to another. High levels of remunerations are accounted for by several factors:
  • The profile which is demanded by not only insurers but also by all banking and financial management institutions.
  • The demand which is above supply.
  • The knowledge which is essential to finance and insurance companies.
  • In the insurance sector, the new prudential standards imposed notably by Solvency II made these experts the preferred players in the area of corporate governance (underwriting, reserve management, control, etc).

actuaire salaireIn France, the average annual salary of a junior actuary is 63 000 USD. In Germany, this salary can amount to 76 000 USD. With 10 to 15 years of experience, these amounts can exceed 90 000 USD in France and 110 000 USD in Germany and double or even triple that amount in team leader positions.

In the United States, the average remuneration is approximately 121 000 USD. With an experience of more than 15 years, the annual salary can well exceed 150 000 USD.

According to Salary Expert website, actuaries in Switzerland receive the highest remunerations. Recently-hired staff kick start their career with an income of 95 000 USD. After a few years of experience, their salary exceeds 137 000 USD, reaching 170 000 USD after more than 20 years of professional experience.

Discover our article on insurance professions.

Annual actuary salary per country

In USD

CountrySalary of abeginner actuaryAverage salarySalary of aconfirmed actuaryAveragecompensation per hour
Switzerland
95 370137 439170 38566
United States
84 575121 542151 09758
Japan
78 618113 150140 45554
Australia
78 730112 960140 65654
Germany
76 721110 256137 06653
Belgium
76 174109 632136 08953
Holland
73 788106 103131 82852
Hong Kong
73 600105 367131 49051
Canada
66 69295 842119 14846
Singapore
66 00094 486117 91145
Ireland
64 80393 102115 77545
Italy
63 21090 930112 94044
France
63 14090 800112 80044
United Kingdom
62 19089 380111 11043
Sweden
55 04079 14098 33038
Greece
44 73064 48079 90031
Spain
41 38059 57073 90029
South Korea
39 22056 08070 08027
Portugal
33 17047 79059 27023
China
31 77045 18056 77022
Malaysia
29 29041 80052 33020
Brazil
25 70036 65045 91018
Indonesia
20 90029 68037 36014
Thailand
20 74029 59037 05014
Vietnam
17 59024 91031 43012
Turkey
15 96022 69028 51011
Russia
13 48019 17024 1009
Pakistan
11 70016 56021 0008
India
11 12015 75019 8708
Philippines
9 66013 76017 2607

(1) Annual compensation excluding bonuses
Sources: www.salaryexplorer.com et www.salaryexpert.com

Actuary salary in the Middle East

In USD
CountrySalary of abeginner actuaryAverage salarySalary of aconfirmed actuaryAveragecompensation per hour
United ArabEmirates
71 000101 500127 00049
Qatar
30 00061 10089 20029
Saudi Arabia
42 50060 80076 00029
Kuwait
26 50059 20088 90030
Bahrain
24 20056 25085 50026
Oman
31 10055 20095 33031
Jordan
19 64040 90060 17020
Lebanon
15 85034 45051 30017

In the Middle East, actuaries are the highest paid in the United Arab Emirates. They are paid an average of almost 102 000 USD per year, 2 to 3 times more than the average wage in other countries of the region.

Actuary salary in Africa

in USD
CountrySalary of abeginner actuaryAverage salarySalary of aconfirmed actuaryAverage compensation per hour
South Africa
24 59035 03043 93017
Gabon
16 44031 00053 000-
Côte d’Ivoire
14 80027 90047 700-
Cameroon
13 90026 00045 500-
Senegal
13 30025 11042 630 
Tunisia
10 23024 35037 26012
Kenya
-20 130--
Morocco
13 51019 34024 1309
Nigeria
9 12018 60027 1609
Namibia
8 75017 86026 0809
Mauritius
7 93017 23025 6808
Ghana
-13 730--
Burkina Faso
-12 320--
Egypt
4 0108 40012 2704
Tanzania
-8 120--
Ethiopia
-4 480--

In South Africa, actuaries have the highest salaries on the continent. Gabon comes second with an average annual salary of 31 000 USD.

Sources: www.salaryexplorer.com et www.salaryexpert.com

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