Actuary salary: 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 67 598 USD. In Germany, this salary can amount to 117 116 USD. With 10 to 15 years of experience, these amounts can exceed 77 000 USD in France and 145 595 USD in Germany and double or even triple that amount in team leader positions.

In the United States, the average remuneration is approximately 116 000 USD. With an experience of more than 15 years, the annual salary can well exceed 198 000 USD.

According to Salary Expert website, actuaries in Switzerland receive the highest remunerations. Recently-hired staff kick start their career with an income of 116 618 USD. After a few years of experience, their salary exceeds 168 060 USD, reaching 208 345 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 actuaryAverage compensation per hour
Switzerland116 618168 060208 34584.37
Netherlands90 077129 524160 92765.02
Australia88 249126 617157 66263.56
Germany81 495117 116145 59558.79
United States87 762116 050198 90758.26
Ireland78 692114 057142 29657.26
United Kingdom73 836108 208146 39854.32
Hong Kong74 121106 114132 42253.27
Spain61 79488 963110 39744.66
Sweden61 77288 824110 35944.59
Japan55 12879 34298 48939.83
Canada45 26075 434113 15137.87
South Korea51 50573 63792 01736.97
Belgium55 18271 73788 29136.01
China49 29570 08688 06835.18
Portugal47 80068 86185 39634.57
France59 32167 59877 25533.93
Singapore36 36162 874121 96131.56
Greece35 67450 39762 14825.3
Brazil29 86042 57853 34721.37
Malaysia29 17142 01452 74921.09
Italy34 21338 62761 80419.39
Thailand25 52236 42045 59618.28
Vietnam21 64930 65638 67615.39
India20 41828 89636 47714.51
Russia17 07424 27630 50412.19
Philippines15 34922 06427 75611.08
Indonesia6 30712 38419 0806.22
Pakistan8 24011 65214 7215.85
Turkey6 0167 8609 5843.95

Sources: salaryexpert.com, glassdoor.com et worldsalaries.com

Actuary salary in the Middle East

In USD
CountrySalary of abeginner actuaryAverage salarySalary of aconfirmed actuaryAverage compensation per hour
United Arab Emirates78 453112 188140 16056.32
Qatar37 44768 762104 46534.52
Kuwait39 02168 239104 53334.26
Saudi Arabia34 03265 612100 95032.94
Bahrain26 20661 007104 50830.63
Oman20 98154 65588 27627.44
Jordan13 31528 01141 12814.06
Lebanon1 3442 6294 0571.32

Sources: worldsalaries.com et salaryexpert.com

In the Middle East, actuaries are the highest paid in the United Arab Emirates. They are paid an average of almost 112 000 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 Africa30 28743 15454 11021.66
Morocco19 94828 55835 63914.34
Algeria12 38324 85038 46312.48
Seychelles10 88621 07632 04710.58
Djibouti9 32020 27632 23010.18
Tunisia8 80120 21531 44010.15
Mauritius8 41316 53825 4868.3
Namibia8 68716 09124 1508.08
Kenya7 30715 87825 2197.97
Togo6 97615 18224 1937.62
Gabon6 73114 63923 1827.35
Botswana7 55114 16021 2927.11
Guinea6 56612 38418 8646.22
Uganda5 30411 51318 3145.78
Comoros4 89410 64516 9385.34
Mozambique5 07610 43216 2105.24
Cameroon4 71610 24316 2885.14
Lesotho4 98910 10615 6375.07
Benign5 1849 57314 4564.81
Burkina Faso4 6369 27114 3714.65
Rwanda4 7119 24314 2214.64
Senegal4 4969 17614 2954.61
Guinea-Bissau4 5568 93113 7474.48
Niger4 1938 93114 1154.48
Ivory Coast4 1938 75113 7474.39
Central African Republic2 1948 73238 9074.38
Tanzania4 2968 59113 2964.31
Mauritania4 4368 33212 7284.18
Libya4 1427 87111 6663.95
Zimbabwe3 4507 46711 9063.75
Eritrea3 5917 35611 7873.69
Mali3 3277 24011 5093.63
Burundi3 1636 59410 3323.31
Liberia2 9686 3139 9413.17
Nigeria3 3696 2329 4173.13
Somalia2 6455 7389 1252.88
Angola2 7425 4908 5072.76
Egypt2 5505 1267 9232.57
Ghana2 2364 7287 4682.37
Madagascar2 4004 7007 2332.36
Sierra Leone2 2264 2786 5402.15
Zambia1 6643 5515 7451.78
Gambia1 7593 5205 5431.77
Ethiopia1 3722 6203 9881.32
Malawi8141 6642 5980.84
Sudan5241 0421 6200.52

In South Africa, actuaries have the highest salaries on the continent. Gabon comes second with an average annual salary of 28 558 USD.

Sources: worldsalaries.com

0
Your rating: None
Advertising Program          Terms of Service          Copyright          Useful links          Social networks          Credits