As of August 01, 2026, the average salary for an Insurance Actuary I in the United States is $80,818 per year, which breaks down to an hourly rate of $39.
However, an Insurance Actuary I's salary can vary significantly. Here’s a look at the typical salary range:
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An Insurance Actuary I's salary isn't a fixed number. It's shaped by several important factors. Below, we'll explore how your years of experience, geographic location, education, and company size can directly affect your earning potential.
Experience is a primary driver of an Insurance Actuary I's salary. As you build your skills and take on more complex tasks, your compensation generally increases. Here's how the average salary grows at different career stages:
| Job Role | Years of Experience | Average Salary |
|---|---|---|
| Insurance Actuary I | 0-2 years | $80,828 |
| Actuarial Analyst II | 2-4 years | $90,099 |
| Actuarial Analyst III | 4-7 years | $105,812 |
| Actuarial Analyst IV | 7+ years | $140,833 |
| Actuarial Analyst V | 7-10 years | $164,965 |
What Am I Worth?
Your salary can change significantly depending on where you work. States with a higher cost of living and strong industrial sectors often pay more to attract Insurance Actuary Is. For example, consider the average annual salaries in these key locations:
Demanded Skills for the Role:
| Skills | Demand Percentage |
|---|---|
| Analysis | 9.91% |
| Economics | 2.2% |
| Collective Bargaining | 1.06% |
| Skill | Salary | Salary % Increase |
|---|---|---|
|
SAS/SQL
|
$86,475 |
7%
|
|
Time Management
|
$85,667 |
6%
|
|
Coaching
|
$85,667 |
6%
|
|
Communication Skills
|
$83,243 |
3%
|
|
Reinsurance
|
$83,243 |
3%
|
|
Products and Services
|
$83,243 |
3%
|
Insurance Actuary I salary potential scales significantly with company size. Data shows that Enterprise companies (5,000+ employees) pay the highest average salary at around $90,471. While startup companies pay approximate $76,536.
| Company Size | Employees | Average Salary |
|---|---|---|
| Startup | 1~50 | $76,536 |
| Growth Stage | 51~500 | $80,946 |
| Established | 501~5000 | $87,366 |
| Enterprise | 5000+ | $90,471 |
For Insurance Actuary I roles, the industry you choose can affect earning potential by as much as 80% (the gap between the highest and lowest paying industries). Data shows that the Financial Services and Pharmaceuticals sectors offer the strongest compensation, at 40% above the average. In contrast, Insurance Actuary positions in Edu., Gov't. & Nonprofit or Hospitality & Leisure typically offer lower base pay, as these industries often view Insurance Actuary I as a support function rather than a direct revenue driver.
| Industry Sector | Average Annual Salary | Average Hourly Rate | Pay vs.Avg |
|---|---|---|---|
| Financial Services | $113,145 | $54.0 | 40% |
| Pharmaceuticals | $105,063 | $51.0 | 30% |
| Software & Networking | $101,022 | $49.0 | 25% |
| Aerospace & Defense | $92,941 | $45.0 | 15% |
| Energy & Utilities | $88,900 | $43.0 | 10% |
Your level of education can impact your salary potential. While many Insurance Actuary Is enter the field with a Associate's Degree degree, higher education can lead to more specialized and higher-paying roles.
According to our 100% employer-reported salary data, the median salary for an Insurance Actuary I with a Associate's Degree is between $75,165 and $80,126).
Insurance Actuary I Salaries by Degree Level
| Degree Level | % of user with this level of education |
|---|---|
| No Diploma | 0.7% |
| High School | 8.9% |
| Associates | 3.9% |
| Bachelors | 64.0% |
| Masters | 20.5% |
| Doctorate | 2.1% |
Understanding how an Insurance Actuary I's annual salary breaks down can help with budgeting. Below, you can see the average hourly rate, weekly pay, and monthly pay for this role. Use the buttons to switch between different pay periods.
Last Updated on August 01, 2026Promotions are the fastest way to increase your earnings. As an Insurance Actuary I, you have the following paths for advancement. The table below compares the salary raises for common next-step roles. By comparing these figures, you can choose the career path that best meets your financial goals.
| Next Step Role | Estimate Salary | Projected Raise |
|---|---|---|
| Actuarial Analyst II | $90,100 | 11% |
| Actuarial Operations Assistant II | $88,900 | 10% |
Salaries for an Insurance Actuary I can change over time, reflecting shifts in market demand and the overall economy. The median salary decreased from $75,691 in 2023 to around $74,763 in 2025, reflecting changes in demand, location, experience, and the wider economy. For a detailed analysis of Insurance Actuary I salary trends, .
| Year | Average Annual Salary |
|---|---|
| 2022 |
View More
|
| 2023 | $75,691 |
| 2024 | $75,756 |
| 2025 | $74,763 |
| 2026 |
View More
|
| 2027 |
View More
|
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The Financial Services industry offers the highest average compensation for Insurance Actuary I roles, with salaries approximately 40% above the market median.
Yes, being an actuary involves a significant amount of math, probability, and statistics. This analytical aspect is a major draw for many in the profession. Additionally, actuaries can expect a competitive salary, with a minimum of $72,776, a mid-range of $81,407, and a maximum of $89,785, reflecting the value of their expertise in the field.
While the average salary for an insurance actuary ranges from $72,776 to $89,785, reaching a salary of $200,000 is possible but typically requires significant experience, a role in consulting, or an executive position. Many actuaries can achieve this level of compensation through career advancement and specialization.
Jobs that typically earn high salaries include Director of Cybersecurity, Project Planner in Sales, and Merchant Cash Advance Sales roles, which can offer commission-based earnings exceeding $200,000. However, for those considering a career as an Insurance Actuary, salaries range from $72,776 to $89,785, with a mid-salary of $81,407, providing a solid income in the finance sector.
While the average salary for an insurance actuary ranges from $72,776 to $89,785, experienced actuaries can earn between $125,000 and $190,000 after passing all exams and gaining 6-7 years of experience. With over 20 years in the field, some actuaries may indeed reach salaries of $500,000 or more.
It's never too late to become an actuary, even at 30. Many professionals transition into this field later in life. With dedication and the right qualifications, you can enjoy a rewarding career with competitive salaries ranging from approximately $72,776 to $89,785, with a median around $81,407. Your age can bring valuable experience to the role.
As of now, the salary for an Insurance Actuary ranges from a minimum of $72,776 to a maximum of $89,785, with a mid-range salary of $81,407. This reflects the typical earnings for actuaries in the insurance sector, which may differ from those in other fields like the IRS.
Salary.com provides salary estimates, histograms, trends, and comparisons using data from employer job postings and third-party sources.
We offer detailed salary information across multiple percentiles for your reference. (Click here to learn Why the Salary Midpoint Formula Is Crucial for Achieving Pay Equity.)
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