Financial Manager
Median wage · national
$166,570
Range: $125K – $220K
Employed
842K
Openings/yr
66K
Typically: bachelor's degree
STEM
Actuaries
With a national median of $130,000 and +9.2% projected job growth through 2035, Actuaries offers both strong financial return and stable long-term demand.
About Actuaries
This page sets out what the federal data says about working as a actuaries: what the job pays, how fast it is growing, and what it takes to get in. Most people arrive through a degree in Business Administration and what it leads to, though it is not the only route.
Analyze statistical data, such as mortality, accident, sickness, disability, and retirement rates and construct probability tables to forecast risk and liability for payment of future benefits. May ascertain insurance rates required and cash reserves necessary to ensure payment of future benefits.
- Median Wage
- $130,000
- Employed Nationally
- 27K
- Openings / Year
- 1,500
- Entry Education
- Bachelor's degree
- Job Zone
- Zone 4: Considerable Preparation
Also known as:
Actuarial Analyst
Actuarial Associate
Actuarial Consultant
Actuarial Intern
Actuarial Mathematician
How Much Do Actuaries Make?
Most actuaries take home around $130,000 a year, well above what most college graduates make. Half earn somewhere between $97,680 and $170,650, so where you land depends a lot on employer, specialty and city. Worth weighing against how long the training takes. Source: BLS.
A wage on its own says nothing about whether the degree behind it pays for itself, which is a question of lifetime earnings set against the total cost of getting there.
$130,000
National Median (Annual)
Well above average for college graduates.
$98K–$171K
Middle 50% Range
25th to 75th percentile. Most workers earn within this band.
Earnings Range
$97,680
Entry-level
$130,000
Median
$170,650
Experienced
What Do Actuaries Do?
This is what the job actually looks like on a Tuesday: 5 core activities and 5 skills the work depends on. Read it before the salary, because pay matters less than whether you would want to spend your days doing this. Source: O*NET.
What You'll Do
- Ascertain premium rates required and cash reserves and liabilities necessary to ensure payment of future benefits.
- Collaborate with programmers, underwriters, accounts, claims experts, and senior management to help companies develop plans for new lines of business or improvements to existing business.
- Analyze statistical information to estimate mortality, accident, sickness, disability, and retirement rates.
- Design, review, and help administer insurance, annuity and pension plans, determining financial soundness and calculating premiums.
- Determine, or help determine, company policy, and explain complex technical matters to company executives, government officials, shareholders, policyholders, or the public.
Core Skills Employers Look For
Judgment and Decision Making
Critical Thinking
Mathematics
Reading Comprehension
Systems Evaluation
Who Thrives Here
C
Conventional
Success depends on precision and structured processes, where detail-oriented people who work consistently within established systems perform best.
I
Investigative
This career demands analytical thinking: researching problems, interpreting data, and applying logical reasoning to find practical solutions.
E
Enterprising
Leadership, influence, and business acumen are rewarded here, where managing teams, driving decisions, or persuading others shapes career outcomes.
Where Do Actuaries Work?
What the physical and mental conditions of this job actually look like day to day, based on O*NET Work Context data collected from people working in this occupation.
Work Setting
Mixed
Split between indoor and outdoor or field settings.
Physical Demands
Light
Mix of sitting and movement throughout the day.
Stress Level
Moderate
Moderate pressure. Regular deadlines exist but are generally manageable with experience.
What Is the Job Outlook for Actuaries?
Through 2035 the BLS expects this field to change by +9.2%, meaning it is growing faster than most occupations, so jobs should be easier to find over time. Around 1,500 roles open up each year, which is the number that matters most if you are starting out. Source: BLS.
Growth rates are only meaningful next to other occupations, and the full list of careers with their projected growth puts this one in context.
↗ +9.2%
10-Year Growth (2025–2035)
Faster than average.
1,500
Annual Openings
New positions plus replacements for retirees and career-changers.
27K
Currently Employed
Total US employment as of BLS May 2025.
Source: BLS Employment Projections 2025–2035 and Occupational Employment and Wage Statistics May 2025.
Where the Jobs Are
The five states below employ the most Actuaries professionals nationwide. State-level wages can differ significantly from the $130,000 national median. Research your specific market before committing to a program.
| # | State | Jobs | Median Wage | vs. National |
|---|---|---|---|---|
| 1 | New York | 2,630 | $156,480 | +20.4% |
| 2 | Illinois | 2,280 | $115,430 | -11.2% |
| 3 | Texas | 1,750 | $105,020 | -19.2% |
| 4 | Pennsylvania | 1,710 | $125,040 | -3.8% |
| 5 | Georgia | 1,470 | — | — |
Source: BLS Occupational Employment and Wage Statistics, May 2025. Employment figures rounded. Read our methodology →
How to Get Here
To get hired here you will usually need a bachelor's degree. The 5 programs below are the most common routes in, ordered by how many people actually graduate from each one.
The next most common path is a Management Sciences program and the colleges offering it, which suits a different kind of applicant.
Typical Entry Education
Bachelor's degree
Job Zone
Zone 4: Considerable Preparation
These positions typically require a bachelor's degree and several years of related experience before advancing into senior roles.
Degree Programs That Lead Here
| # | Program | Graduates/yr | 4yr Median | Colleges |
|---|---|---|---|---|
| 1 | Business Administration | 395,227 | $68,257 | 2,611 |
| 2 | Management Sciences | 56,747 | $86,176 | 593 |
| 3 | Applied Mathematics | 11,635 | $91,532 | 417 |
| 4 | Statistics | 9,944 | $92,425 | 281 |
| 5 | Applied Statistics | 541 | — | 31 |
Top Colleges for Aspiring Actuaries
Colleges offering the degree programs that lead to this career, ranked by UCD Score. A strong program plus solid outcomes is a good place to begin your search.
| # | College | UCD Score | Net Price | Salary 10yr |
|---|---|---|---|---|
| 1 | United States Coast Guard Academy New London, CT | 96 | — | — |
| 2 | United States Air Force Academy USAF Academy, CO | 96 | — | — |
| 3 | United States Military Academy West Point, NY | 96 | — | — |
| 4 | Princeton University Princeton, NJ | 94 | $6,128 | $110,066 |
| 5 | CUNY Bernard M Baruch College New York, NY | 93 | $3,033 | $75,971 |
| 6 | University of California-Los Angeles Los Angeles, CA | 93 | $12,548 | $82,511 |
Plan Your Path
Once you've sized up Actuaries, these tools turn the numbers into a plan. Estimate the real cost of a degree that leads here, weigh the long-term payoff, compare specific colleges side-by-side, and find programs that match your profile.
College ROI Calculator
See if the degree that leads to Actuaries pays off. Weighs each college's cost against the earnings graduates see.
College Cost Calculator
Enter a budget and see the colleges whose net price fits, with the out-of-pocket cost and likely loan load for each.
Compare Colleges
Put any 2–4 colleges side-by-side. Admissions, cost, outcomes, and earnings, all on one screen, no tab-hopping.
College Match Quiz
Answer six quick questions and see your best-fit colleges ranked by budget, field of study, and what matters most to you.
Actuaries Pros & Cons
Strong earnings and growing demand make Actuaries a compelling path. The 3 strengths and 1 trade-offs below are drawn from BLS wage data and employment projections.
PROS
- Very high median salary The national median of $130,000 places this career well above average for college graduates, with significant upside at the 75th percentile.
- Fast-growing field At +9.2% projected growth through 2035, this career grows faster than the national average of about +5%. A strong signal for long-term demand.
- High earning ceiling Top earners (75th percentile) reach $170,650 annually. Strong performers, specialists, and those in high-cost markets have significant upside beyond the median.
CONS
- Multi-year ramp before career-level pay This is a Job Zone 4 occupation, these positions typically require a bachelor's degree and several years of related experience before advancing into senior roles. Most workers in this field spend their first several years at entry-level pay well below the $130,000 median while building the experience employers require.
Actuaries Frequently Asked Questions
How much do Actuaries professionals earn?
Around $130,000 a year for the typical worker, well into the top quartile of US wages. The middle 50% of earners fall between $97,680 and $170,650. Treat the national figure as a starting point rather than a promise: employer size, industry and city all move it.
Is Actuaries a good career?
Yes, the data is strong. Median pay of $130,000 with +9.2% projected growth through 2035 is a combination most fields cannot match. The real variable is early career: workers around the 25th percentile earn $97,680, so your first employer and location will shape your trajectory more than the national number suggests.
How long does it take to work as Actuaries?
Expect 4 years of undergraduate education followed by 2 or more years of field experience before most employers consider you qualified for career-level positions. A bachelor's degree is the typical minimum credential. Degree programs like Business Administration are typical entry paths. Early-career pay during this ramp-up period will be meaningfully below the $130,000 national median. Factor that gap into any program ROI calculation.
What is the job outlook for Actuaries?
Employment is projected to change by +9.2% through 2035, faster than average compared with other occupations. Around 1,500 roles open each year once you count people retiring and moving on, which matters more to someone starting out than the growth rate does. 27K people do this job nationwide today, so it is an established field rather than a niche one. Source: BLS May 2025.
Why do Actuaries salaries vary so widely?
The $72,970 gap between the 25th ($97,680) and 75th ($170,650) percentile reflects how much employer type, industry, specialization, and geography affect pay. Entry-level roles and lower-demand markets cluster near the bottom; senior, specialized, or high-cost-metro positions push the top. In fields with this much spread, where you work and what you specialize in often matters more than years of experience.
What skills do Actuaries professionals need?
Mainly Judgment and Decision Making, Critical Thinking, Mathematics, Reading Comprehension, and Systems Evaluation. Notice how many of those are habits rather than facts: they come from doing the work, not from a lecture. That is why programs with an internship or co-op requirement put you ahead of people who only studied the theory. Source: O*NET.
Related Findings
-
10 Six-Figure Careers That Do Not Need a Bachelor's Degree
Air traffic controllers earn more than the typical bachelor's-degree career, with an associate degree. The occupations that pay six figures without four years of college.
- No bachelor degree
- High paying careers
- Associate degree
- Trades
- Median wage
-
Does a Master's Degree Pay Off? Barely, on Average
Group every career by the degree it requires and master's-level jobs pay a median of about $91,000, statistically tied with bachelor's-level work. The premium hides in a few fields.
- Master's degree
- Bachelor's degree
- Median wage
- Graduate school
- Career outcomes
-
Growing and Paying $80K Plus: The Careers That Do Both
Only 106 of 393 federal careers both pay a median above $80,000 and grow faster than the typical job. Here is the rare set that clears both bars.
- Career growth
- Median wage
- High-paying careers
- Job outlook
- Career change
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