As of August 01, 2026, the average salary for an Insurance Actuary III in the United States is $105,802 per year, which breaks down to an hourly rate of $51.
However, an Insurance Actuary III's salary can vary significantly. Here’s a look at the typical salary range:
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An Insurance Actuary III'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 III'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 |
| Actuarial Analyst II | 2-4 years | $90,099 |
| Insurance Actuary 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 IIIs. For example, consider the average annual salaries in these key locations:
Demanded Skills for the Role:
| Skills | Demand Percentage |
|---|---|
| Analysis | 9.3% |
| SQL | 2.26% |
| Collective Bargaining | 1.24% |
| Skill | Salary | Salary % Increase |
|---|---|---|
|
ISO
|
$115,324 |
9%
|
|
Coaching
|
$114,266 |
8%
|
|
Teamwork
|
$111,092 |
5%
|
|
Project Management
|
$110,034 |
4%
|
|
Listening
|
$108,976 |
3%
|
|
Leadership
|
$108,976 |
3%
|
Insurance Actuary III salary potential scales significantly with company size. Data shows that Enterprise companies (5,000+ employees) pay the highest average salary at around $118,439. While startup companies pay approximate $100,197.
| Company Size | Employees | Average Salary |
|---|---|---|
| Startup | 1~50 | $100,197 |
| Growth Stage | 51~500 | $105,970 |
| Established | 501~5000 | $114,374 |
| Enterprise | 5000+ | $118,439 |
For Insurance Actuary III roles, the industry you choose can affect earning potential by as much as 20% (the gap between the highest and lowest paying industries). Data shows that the Aerospace & Defense and Biotechnology sectors offer the strongest compensation, at 10% above the average. In contrast, Insurance Actuary positions in Transportation or Telecom typically offer lower base pay, as these industries often view Insurance Actuary III as a support function rather than a direct revenue driver.
| Industry Sector | Average Annual Salary | Average Hourly Rate | Pay vs.Avg |
|---|---|---|---|
| Aerospace & Defense | $116,382 | $56.0 | 10% |
Your level of education can impact your salary potential. While many Insurance Actuary IIIs 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 III with a Associate's Degree is between $108,670 and $114,926).
Insurance Actuary III Salaries by Degree Level
| Degree Level | % of user with this level of education |
|---|---|
| No Diploma | 2.7% |
| High School | 1.4% |
| Associates | 1.4% |
| Bachelors | 60.3% |
| Masters | 34.2% |
| Doctorate | 1.4% |
Understanding how an Insurance Actuary III'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, 2026For an Insurance Actuary III, the most direct path to higher earnings is advancing to the Actuarial Analyst IV role. This promotion typically comes with a significant pay increase, bringing the average annual salary to $140,900 - a projected growth of 33% over your current level.
Salaries for an Insurance Actuary III can change over time, reflecting shifts in market demand and the overall economy. The median salary decreased from $108,352 in 2023 to around $107,570 in 2025, reflecting changes in demand, location, experience, and the wider economy. For a detailed analysis of Insurance Actuary III salary trends, .
| Year | Average Annual Salary |
|---|---|
| 2022 |
View More
|
| 2023 | $108,352 |
| 2024 | $108,755 |
| 2025 | $107,570 |
| 2026 |
View More
|
| 2027 |
View More
|
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The Aerospace & Defense industry offers the highest average compensation for Insurance Actuary III roles, with salaries approximately 10% above the market median.
While actuaries are highly skilled professionals, the typical salary range for an Insurance Actuary is between $103,785 and $127,204. Achieving a salary of $300K is uncommon and may occur only in exceptional circumstances, such as in senior executive roles or specialized positions within the industry.
While the salary data for insurance actuaries shows a minimum of $103,785, a mid-range of $115,112, and a maximum of $127,204, reaching a salary of $200,000 is generally uncommon in this field. However, with significant experience, specialization, or in high-demand markets, it may be possible to exceed these figures.
Actuaries command high salaries due to their unique combination of advanced mathematical skills, business acumen, and strategic insight. With a minimum salary of $103,785, a mid-range salary of $115,112, and a maximum of $127,204, the demand for qualified actuaries far exceeds supply, driving up compensation significantly.
The lowest paid actuary, based on current salary data, earns a minimum salary of $103,785. Entry-level actuaries typically start around this figure, while mid-level actuaries with more experience can earn significantly more, with mid-salaries reaching $115,112 and maximum salaries up to $127,204.
Most actuaries hold a bachelor's degree in mathematics, statistics, actuarial science, or a related field. This educational background equips them with the analytical skills necessary for their role. In terms of salary, actuaries can expect to earn between $103,785 and $127,204, with a median salary around $115,112, reflecting their expertise and the demand for their skills.
According to recent data, actuaries in Switzerland earn competitive salaries, with entry-level positions starting at approximately $115,112. With experience, salaries can rise significantly, reflecting the high demand for skilled professionals in this field. The maximum salary can reach around $127,204, showcasing the lucrative nature of the profession.
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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