Actuary III Salary in Farmington, Michigan
Actuary III Salary in Farmington, MI
How much does an Actuary III make in Farmington, MI? The average Actuary III salary in Farmington, MI is $113,280 as of April 24, 2024, but the range typically falls between $102,131 and $125,174. Salary ranges can vary widely depending on many important factors, including education, certifications, additional skills, the number of years you have spent in your profession. With more online, real-time compensation data than any other website, Salary.com helps you determine your exact pay target.
| Percentile | Salary | Location | Last Updated |
| 10th Percentile Actuary III Salary | $91,980 | Farmington,MI | April 24, 2024 |
| 25th Percentile Actuary III Salary | $102,131 | Farmington,MI | April 24, 2024 |
| 50th Percentile Actuary III Salary | $113,280 | Farmington,MI | April 24, 2024 |
| 75th Percentile Actuary III Salary | $125,174 | Farmington,MI | April 24, 2024 |
| 90th Percentile Actuary III Salary | $136,002 | Farmington,MI | April 24, 2024 |
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What skills does an Actuary III need?
Each competency has five to ten behavioral assertions that can be observed, each with a corresponding performance level (from one to five) that is required for a particular job.
Analysis: Analysis is the process of considering something carefully or using statistical methods in order to understand it or explain it.
Life Insurance: Life Insurance can be defined as a contract between an insurance policy holder and an insurance company, where the insurer promises to pay a sum of money in exchange for a premium, upon the death of an insured person or after a set period
Programming: Executing logic to facilitate computing operations and functionality in one or more languages.
Job Description for Actuary III
Actuary III utilizes statistical analysis and modeling to assess and manage risk and estimate financial outcomes. Compiles, prepares, and analyzes data to develop statistical models, probability tables, and actuarial studies and evaluate the likelihood and financial impact of various risks. Being an Actuary III assists with product design and development by analyzing risk groups and calculating appropriate insurance rates, premium levels, and rating systems and structures. Records and tracks accruals, claims, and settlements and prepares documents for input into regulatory filings, financial budgets, forecasts, and other financial projections. Additionally, Actuary III applies knowledge of mathematics, probability, statistics, principles of finance and business to calculations in life, health, social, and casualty insurance, annuities, and pensions. Requires a bachelor's degree. Typically reports to a manager. The Actuary III work is generally independent and collaborative in nature. Contributes to moderately complex aspects of a project. To be an Actuary III typically requires 4-7 years of related experience. (Copyright 2024 Salary.com)... View full job description
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ECU Health Medical Center - Greenville, NCECU Health. About ECU Health Medical Center. ECU Health Medical Center, one of four academic medical centers in North Carolina, is the 974-bed flagship hos...- 6 Days Ago
Career Path for Actuary III
A career path is a sequence of jobs that leads to your short- and long-term career goals. Some follow a linear career path within one field, while others change fields periodically to achieve career or personal goals.
For Actuary III, the upper level is Actuary IV and then progresses to Actuary V.
What does an Actuary III do?
Are you an HR manager or compensation specialist?
Salary.com's CompAnalyst platform offers:
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- Job and employee pricing reports
- Compensation data tools, salary structures, surveys and benchmarks.
Actuary III Pay Difference by Location
Actuary III salary varies from city to city. Compared with national average salary of Actuary III, the highest Actuary III salary is in San Francisco, CA, where the Actuary III salary is 25.0% above. The lowest Actuary III salary is in Miami, FL, where the Actuary III salary is 3.5% lower than national average salary.
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About Farmington, Michigan
Similar Jobs to Actuary III
| Job Title | Experience | EDUCATION | Salary Compared to This Job |
|---|---|---|---|
| Job Title Actuary I | Experience 0 - 2 | EducationBachelors | Salary Compared to This Job |
| Job Title Actuary II | Experience 2 - 4 | EducationBachelors | Salary Compared to This Job |
| Job Title Actuary IV | Experience 7 + | EducationBachelors | Salary Compared to This Job |
| Job Title Actuary V | Experience 10 + | EducationBachelors | Salary Compared to This Job |
| Job Title Attorney III | Experience 4 - 7 | EducationJD | Salary Compared to This Job |
Level of Education for Actuary III
Jobs with different levels of education may pay very differently. Check the Actuary III salary of your education level.
Actuary III Salary by Global Country
Actuary III salary varies from country to country. There are several factors that mainly impact the Actuary III salary, including cost of living, economic conditions, market rates and legal differences. Click below to Actuary III salary of the other country.
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About Farmington, Michigan Farmington is a city in Oakland County of the U.S. state of Michigan. It is one of the northern suburbs of Detroit. As of the 2010 census, the city po....More
Farmington, Michigan area prices were up 1.2% from a year ago View the Cost of Living in Farmington, Michigan
Actuary III Salary in popular cities: Detroit, Grand Rapids, Warren
Skills associated with Actuary III: Forecasting, Regulatory Reporting, Academic Focus: Mathematics, Probability Analysis ...More
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