As of April 01, 2025, the average annual salary for an Actuary V in Elgin, IL is $167,124. Salary.com reports that pay typically ranges from $149,036 to $183,250, with most professionals earning between $132,568 and $197,932.
| Annual Salary |
Monthly Pay |
Weekly Pay |
Hourly Wage |
|
| 75th Percentile | $180,311 | $15,026 | $3,468 | $87 |
| Average | $164,444 | $13,704 | $3,162 | $79 |
| 25th Percentile | $146,646 | $12,221 | $2,820 | $71 |
An entry-level Actuary V with under 1 year experience makes about $158,025. With less than 2 years of experience, a mid-level Actuary V makes around $159,306. After 2-4 years, the Actuary V pay rises to about $159,818. Those senior Actuary V with 5-8 years of experience earn roughly $162,380, and those Actuary V having 8 years or more experience are expected to earn about $170,096 on average.
| Levels | Salary |
|---|---|
| Entry Level Actuary V | $158,025 |
| Intermediate Level Actuary V | $159,306 |
| Senior Level Actuary V | $159,818 |
| Specialist Level Actuary V | $162,380 |
| Expert Level Actuary V | $170,096 |
| Entry Level | 4% |
| Mid Level | 3% |
| Senior Level | 3% |
| Top Level | 1% |
| Experienced | 3% |
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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.
Underwriting: Underwriting services are provided by some large financial institutions, such as banks, or insurance or investment houses, whereby they guarantee payment in case of damage or financial loss and accept the financial risk for liability arising from such guarantee. An underwriting arrangement may be created in a number of situations including insurance, issue of securities in a public offering, and bank lending, among others. The person or institution that agrees to sell a minimum number of securities of the company for commission is called the underwriter. The name derives from the Lloyd's of London insurance market. Financial bankers, who would accept some of the risk on a given venture (historically a sea voyage with associated risks of shipwreck) in exchange for a premium, would literally write their names under the risk information that was written on a Lloyd's slip created for this purpose.
Programming: Executing logic to facilitate computing operations and functionality in one or more languages.
| Skill | Salary | Demand |
|---|---|---|
|
Time Management
|
$193,864 |
16%
|
|
Teamwork
|
$193,864 |
16%
|
|
Consulting
|
$193,864 |
16%
|
|
Planning
|
$185,508 |
11%
|
|
Problem Solving
|
$183,837 |
10%
|
|
Coaching
|
$182,166 |
9%
|
