Construction Managers
Median wage · national
$114,990
Range: $89K – $152K
Employed
380K
Openings/yr
47K
Typically: bachelor's degree
STEM
Actuaries
Actuaries is one of the fastest-growing occupations in the country, projected to grow +21.8% through 2034. Median pay sits at $130,000 nationally, a strong return for the training investment.
About Actuaries
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
- 2,400
- 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?
Actuaries earn $130,000 nationally, well above the national median for college graduates. The middle 50% of earners fall between $97,680 and $170,650. Actual pay varies by employer, specialization, and location.
$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?
O*NET data identifies 5 core activities and 5 measurable skills for Actuaries roles. Use this section to judge whether the day-to-day reality aligns with what you actually want to spend time doing.
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?
The BLS projects +21.8% employment change for Actuaries through 2034, well above the national average of +5%. About 2,400 openings per year keep the field accessible to new entrants.
↗ +21.8%
10-Year Growth (2024–2034)
Much faster than average.
2,400
Annual Openings
New positions plus replacements for retirees and career-changers.
27K
Currently Employed
Total US employment as of BLS May 2024.
Source: BLS Employment Projections 2024–2034 and Occupational Employment and Wage Statistics May 2024.
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 | 3,090 | $133,730 | +2.9% |
| 2 | Illinois | 2,120 | $121,960 | -6.2% |
| 3 | Pennsylvania | 1,980 | $107,530 | -17.3% |
| 4 | Texas | 1,800 | $100,260 | -22.9% |
| 5 | Florida | 1,740 | $123,220 | -5.2% |
Source: BLS Occupational Employment and Wage Statistics, May 2024. Employment figures rounded. Read our methodology →
How to Get Here
Most Actuaries positions require a bachelor's degree to qualify. The 5 programs below are the most common academic pathways into this field, ranked by how many graduates they produce each year.
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.
- Exceptional job growth The BLS projects +21.8% employment growth through 2034, one of the fastest rates across all occupations. Demand for qualified candidates should remain elevated for a decade.
- 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?
The national median annual wage for Actuaries is $130,000, well into the top quartile of US wages. The middle 50% of earners fall between $97,680 and $170,650. Pay varies by employer size, industry sector, specialization, and geography. National figures are a starting point, not a guarantee.
Is Actuaries a good career?
Yes, the data is strong. A $130,000 median with +21.8% projected growth through 2034 is a combination most career fields can't 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 become a 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.
How fast is the Actuaries field growing?
Very fast. The BLS projects +21.8% growth for Actuaries through 2034, well above the roughly 5% national average and among the fastest rates across all occupations. Demand is being driven by structural forces, not cyclical ones. About 2,400 job openings per year are expected as the field expands and existing workers move on. From a current base of 27K workers, sustained growth creates real hiring volume, though fast-growing fields also attract more new graduates competing for entry-level roles.
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?
O*NET data identifies the core skills employers consistently prioritize for Actuaries roles: Judgment and Decision Making, Critical Thinking, Mathematics, Reading Comprehension, and Systems Evaluation. These develop through formal education and hands-on work. Programs with internship or co-op requirements give you a meaningful head start on the ones that take time to build.
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 95 of 385 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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