As of August 01, 2026, the average salary for an Insurance Actuary II in the United States is $90,080 per year, which breaks down to an hourly rate of $43.
However, an Insurance Actuary II's salary can vary significantly. Here’s a look at the typical salary range:
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An Insurance Actuary II'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 II'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 |
|---|---|---|
| Actuarial Analyst I | 0-2 years | $80,828 |
| Insurance Actuary 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 IIs. For example, consider the average annual salaries in these key locations:
Demanded Skills for the Role:
| Skills | Demand Percentage |
|---|---|
| Analysis | 9.58% |
| Economics | 2.26% |
| Collective Bargaining | 1.45% |
| Skill | Salary | Salary % Increase |
|---|---|---|
|
Coaching
|
$94,584 |
5%
|
|
Data Science
|
$94,584 |
5%
|
|
Consulting
|
$92,782 |
3%
|
|
Collaboration
|
$91,882 |
2%
|
|
Project Management
|
$91,882 |
2%
|
|
Reinsurance
|
$91,882 |
2%
|
Insurance Actuary II salary potential scales significantly with company size. Data shows that Enterprise companies (5,000+ employees) pay the highest average salary at around $100,839. While startup companies pay approximate $85,308.
| Company Size | Employees | Average Salary |
|---|---|---|
| Startup | 1~50 | $85,308 |
| Growth Stage | 51~500 | $90,223 |
| Established | 501~5000 | $97,378 |
| Enterprise | 5000+ | $100,839 |
For Insurance Actuary II roles, the industry you choose can affect earning potential by as much as 40% (the gap between the highest and lowest paying industries). Data shows that the Financial Services and Internet sectors offer the strongest compensation, at 20% above the average. In contrast, Insurance Actuary positions in Edu., Gov't. & Nonprofit or Retail & Wholesale typically offer lower base pay, as these industries often view Insurance Actuary II as a support function rather than a direct revenue driver.
| Industry Sector | Average Annual Salary | Average Hourly Rate | Pay vs.Avg |
|---|---|---|---|
| Financial Services | $108,096 | $52.0 | 20% |
| Internet | $103,592 | $50.0 | 15% |
| Energy & Utilities | $99,088 | $48.0 | 10% |
| Insurance | $97,286 | $47.0 | 8% |
| Aerospace & Defense | $96,386 | $46.0 | 7% |
Your level of education can impact your salary potential. While many Insurance Actuary IIs 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 II with a Associate's Degree is between $87,019 and $91,752).
Insurance Actuary II Salaries by Degree Level
| Degree Level | % of user with this level of education |
|---|---|
| No Diploma | 9.0% |
| High School | 9.0% |
| Associates | 2.6% |
| Bachelors | 47.4% |
| Masters | 37.2% |
| Doctorate | 3.8% |
Understanding how an Insurance Actuary II'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 II, 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 III | $105,900 | 18% |
| Actuarial Operations Assistant III | $97,800 | 9% |
Salaries for an Insurance Actuary II can change over time, reflecting shifts in market demand and the overall economy. The median salary increased from $88,286 in 2023 to around $88,772 in 2025, reflecting changes in demand, location, experience, and the wider economy. For a detailed analysis of Insurance Actuary II salary trends, .
| Year | Average Annual Salary |
|---|---|
| 2022 |
View More
|
| 2023 | $88,286 |
| 2024 | $89,264 |
| 2025 | $88,772 |
| 2026 |
View More
|
| 2027 |
View More
|
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The Financial Services industry offers the highest average compensation for Insurance Actuary II roles, with salaries approximately 20% above the market median.
The lowest paid actuary typically earns a minimum salary of $83,480. Entry-level actuaries with 0–1 years of experience can expect to start around this figure, while mid-level actuaries with 5–10 years of experience earn significantly more, with salaries reaching up to $101,380.
The highest paid type of actuary is typically the Actuarial Director, with salaries ranging from $142,500 to $211,500 per year. Other high-paying roles include Pricing Actuary ($120,000-$188,000) and Actuarial Manager ($131,500-$155,000). For a standard Insurance Actuary, salaries range from $83,480 to $101,380, with a mid-salary of $91,880.
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 $83,480 to $101,380, depending on experience and location. Embrace the opportunity!
So, Can Actuaries Be Millionaires? Yes, and many already are. With salaries ranging from $83,480 to $101,380, actuaries have the potential to accumulate wealth through smart investments and side hustles. Their financial acumen and earning potential can certainly help them reach that millionaire milestone.
While actuaries are well-compensated, with salaries ranging from $83,480 to $101,380, reaching a $200K salary is uncommon in this field. Most actuaries earn between $91,880 and $101,380, depending on experience and specialization. Higher salaries may be possible in senior roles or specialized sectors, but $200K is not typical.
No, being an actuary is not generally a stressful job. With a salary range from $83,480 to $101,380, actuaries enjoy good compensation while facing minimal stress. The role offers mental stimulation and daily challenges, making it a rewarding career with very few disadvantages in day-to-day work.
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