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Insurance Actuary I Salary in the United States

How much does an Insurance Actuary I make in the United States?

As of October 01, 2026, the average salary for an Insurance Actuary I in the United States is $80,832 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:

  • Top Earners (90th percentile): $96,035
  • Majority Range (25th-75th percentile): $73,395 to $88,790
  • Entry-Level (10th percentile): $66,624
Salary Factors Salary-Boosting Skills Salary by Experience Related Job Salaries Top Paying Cities Explore Related Jobs

Key Factors That Influence Insurance Actuary I Salaries

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.

How Experience Level Affects Insurance Actuary Salaries?

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:

  • Insurance Actuary I (0-2 years): $80,842
  • Actuarial Analyst II (2-4 years): $93,186
  • Actuarial Analyst III (4-7 years): $107,943
  • Actuarial Analyst IV (7+ years): $140,854
  • Actuarial Analyst V (7-10 years): $164,975
Job Role Years of Experience Average Salary
Insurance Actuary I0-2 years$80,842
Actuarial Analyst II2-4 years$93,186
Actuarial Analyst III4-7 years$107,943
Actuarial Analyst IV7+ years$140,854
Actuarial Analyst V7-10 years$164,975
View as Graph

How Do Insurance Actuary I Salaries Vary from State to State?

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:
  • District of Columbia: $89,499.
  • California: $89,159.
  • Massachusetts: $87,971.

Top Paying Cities for Insurance Actuary Is

Salaries can also vary between different cities. Major metropolitan areas or cities with a high demand for technicians often offer more competitive pay. Here are a few examples of average annual salaries in different U.S. cities:

  • San Jose: $101,957
  • San Francisco: $100,840
  • Oakland: $98,715

What Skills Can Increase an Insurance Actuary I's Salary?

Demanded Skills for the Role:

  • Analysis (Mentioned in 9.91% Job Postings): Analysis is the process of considering something carefully or using statistical methods in order to understand it or explain it.
  • Economics (Mentioned in 2.2% Job Postings): Economics is a social science that focuses on the production, distribution, and consumption of goods and services, and analyzes the choices that individuals, businesses, governments, and nations make to allocate resources.
  • Collective Bargaining (Mentioned in 1.06% Job Postings): Collective bargaining is a process of negotiation between employers and a group of employees aimed at agreements to regulate working salaries, working conditions, benefits, and other aspects of workers' compensation and rights for workers. The interests of the employees are commonly presented by representatives of a trade union to which the employees belong. The collective agreements reached by these negotiations usually set out wage scales, working hours, training, health and safety, overtime, grievance mechanisms, and rights to participate in workplace or company affairs. The union may negotiate with a single employer (who is typically representing a company's shareholders) or may negotiate with a group of businesses, depending on the country, to reach an industry-wide agreement. A collective agreement functions as a labour contract between an employer and one or more unions. Collective bargaining consists of the process of negotiation between representatives of a union and employers (generally represented by management, or, in some countries such as Austria, Sweden and the Netherlands, by an employers' organization) in respect of the terms and conditions of employment of employees, such as wages, hours of work, working conditions, grievance procedures, and about the rights and responsibilities of trade unions. The parties often refer to the result of the negotiation as a collective bargaining agreement (CBA) or as a collective employment agreement (CEA).
Skills Demand Percentage
Analysis 9.91%
Economics 2.2%
Collective Bargaining 1.06%
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What skills can make your compensation higher?

Mastering certain specialized skills can lead to a significant increase in pay. Here are examples of skills and the potential impact they can have on an Insurance Actuary I's salary.

  • SAS/SQL: Can increase your salary by up to 7%.
  • Time Management: Can increase your salary by up to 6%.
  • Coaching: Can increase your salary by up to 6%.
Skill Salary Salary % Increase
SAS/SQL $86,490
7%
Time Management $85,682
6%
Coaching $85,682
6%
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Insurance Actuary I Salary by Company Size: Startups vs. Enterprise

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 $90,241. While startup companies pay approximate $76,411.

Insurance Actuary I Salary by Company Size

Company Size Employees Average Salary
Startup 1~50 $76,411
Growth Stage 51~500 $80,795
Established 501~5000 $87,134
Enterprise 5000+ $90,241

Insurance Actuary I Salary by Industry: Top Paying Sectors

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.

The top paying industries for an Insurance Actuary I

Industry Sector Average Annual Salary Average Hourly Rate Pay vs.Avg
Financial Services$113,165$54.040%
Pharmaceuticals$105,082$51.030%
Software & Networking$101,040$49.025%
Aerospace & Defense$92,957$45.015%
Energy & Utilities$88,915$43.010%

How Education impacts an Insurance Actuary I's Salary?

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

Typical Education for Insurance Actuary I
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%
View as Graph

Insurance Actuary I Salary: Hourly Rate, Weekly Pay, and Monthly Pay

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 October 01, 2026
$73,395
Average $80,832/year
$88,790
$6,116
Average $6,736/month
$7,399
$1,411
Average $1,554/week
$1,708
$35
Average $39/hour
$43
Annual Salary Monthly Pay Weekly Pay Hourly Wage
75th Percentile $88,790 $7,399 $1,708 $43
Average $80,832 $6,736 $1,554 $39
25th Percentile $73,395 $6,116 $1,411 $35

Insurance Actuary I Salary Growth & Career Path

Insurance Actuary I

Next Role

Advancement

Promotions 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 $93,200 15%
Actuarial Operations Assistant II $89,300 10%

Most common benefits for Insurance Actuary I

  • Social Security
  • 401 (k)
  • Disability
  • Healthcare
  • Pension
  • Time Off (days)

Common company salaries for Insurance Actuary I

Here are companies hiring for Insurance Actuary I and their salaries, click below for more details.

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FAQ about Insurance Actuary I

1. What industry pays the highest salary for Insurance Actuary I?

The Financial Services industry offers the highest average compensation for Insurance Actuary I roles, with salaries approximately 40% above the market median.

2. Is actuary a lot of math?

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.

3. Can you make 200K as an actuary?

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.

4. What jobs make $200,000 a month?

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.

5. Can an actuary make 500k?

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.

6. Is 30 too old to become an actuary?

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.

7. How much do IRS actuaries make?

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.

Where Does Our Salary Data Come From?

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.)

With the most extensive online, real-time compensation data available, Salary.com helps you pinpoint your exact pay target.

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