Whether you’re an actuarial student, a Chief Actuary, or anywhere in between, understanding your earning potential is an important part of career planning. The DW Simpson Salary Survey provides actuarial professionals with insights into compensation trends, helping them better understand how salary relates to experience, credentials, and industry.
To help you get the most out of our salary survey, we’ve compiled answers to some of the most frequently asked questions about our data, interactive graphs, and methodology.
Frequently Asked Questions
1. How do you define years of experience in the salary survey?
The X-axis on our scatter graphs represents an actuary’s total years of experience within the actuarial profession, starting with their first actuarial job and continuing through the current year.
A data point where x = 5 years in the ACAS graph, means that person
- Has 5 years of total experience
- Has achieved their ACAS, at some point within those 5 years.
This approach allows you to compare compensation against total time spent working in the actuarial profession.
2. How can I filter salary data by region, consultant status, designation, or industry?
Below the scatter graphs on our salary survey webpage, you’ll find interactive graphs that allow you to explore overall average compensation data.
You can filter the data by:
- Region: Compare compensation across five US regions.
- Consultant: View data for consulting actuaries.
- Designation: Explore compensation by actuarial credential level.
- Industry: Compare data across different industries.
- Years of Experience: Focus on specific experience levels.
We recommend selecting a range of years of experience rather than a single year when possible. A broader range can capture more data points and provide a more useful overview of compensation trends.
3. Does DW Simpson provide salary data by region?
Yes! Our interactive graphs allow you to explore compensation data across five US regions.
We use five regions to help maintain reliable results when filtering the data. Most data points within each region come from major metropolitan areas in that part of the country.
While regional data provides a helpful overview of geographic compensation trends, it may not reflect the specific market conditions in your city or state.
If you’re looking for more localized salary insights, connect with a DW Simpson recruiter. Our team can discuss the current job market in your area and provide real-time examples and opportunities relevant to your experience.
4. How can I view salary data for consulting actuaries?
Our interactive graphs include a filter for consultant compensation data.
To view it, scroll below the scatter graphs on our salary survey webpage and locate the interactive graph. Select Consultant: Yes to filter the results for consulting actuaries.
The resulting figures represent overall average compensation for the selected criteria. You can further refine your results using the available filters, including designation, industry, and years of experience.
5. Is Canadian actuarial salary data available?
Yes! We offer an interactive graph specifically for Canadian actuarial salary data.
You can find it below the US interactive graph on our salary survey webpage. The graph allows you to filter Canadian compensation data by:
- Consultant status
- Designation
- Industry
- Years of experience
These filters help you explore compensation trends within the Canadian actuarial market and compare data across different career stages and professional backgrounds.
6. What does the Y-axis represent on the salary survey scatter graphs?
The Y-axis represents the compensation range for the particular actuarial designation shown in the graph.
Our scatter graphs are zoomed in to provide a more detailed view of the majority of the data points. However, some higher-compensation outliers may fall outside the visible range.
Although these points may not appear on the graph, they can still influence the linear trend line equation.
As a result, the trend line may reflect data points that are not immediately visible in the displayed graph.
7. Why does each scatter graph have different ranges for the X-axis?
The X-axis represents total years of actuarial experience. We cap the X-axis to a certain number of years depending on the designation level.
For example, Fellow-level graphs may extend into the 40-year range, while student-level graphs generally cover approximately the first 10 years of experience.
We use these focused ranges to make each graph more useful for its intended audience. However, the different ranges can affect how trend lines appear when comparing graphs across designations.
It’s important to consider the experience range of each graph when interpreting the results.
8. What does the linear trend line mean?
The linear trend line illustrates the general relationship between years of actuarial experience and compensation.
On our scatter graphs, it shows the average direction and rate of compensation change as experience increases. It can help you identify broad salary trends throughout an actuarial career.
However, a trend line is not a guarantee of how much an individual’s salary should increase each year. Compensation is influenced by many factors beyond experience, including designation, industry, responsibilities, location, and individual circumstances.
If you feel your compensation is not increasing at an acceptable rate, reach out to your DW Simpson recruiter to discuss your experience, career goals, and current market opportunities.
9. Why don’t the scatter graphs exclude the top and bottom 10% of salary data?
Currently, our scatter graphs include all data points collected for the year rather than removing the highest- and lowest-paid observations.
We want to highlight the full range of compensation reported by working actuaries. Salary is influenced by a complex combination of factors, and displaying the complete dataset helps illustrate the variation that exists across the profession.
Because the scatter graphs display years of experience alongside compensation, they also provide a visual representation of the differences in pay among actuaries with similar levels of experience.
We may introduce an additional set of graphs excluding the top and bottom 10% of data points in the future. For now, our published graphs are designed to show the full range of reported compensation.
10. How current is the DW Simpson Salary Survey data?
Our salary survey graphs use compensation data collected during the year in which the graphs are published.
Each data point represents an actuary’s compensation for that year, rather than a salary figure carried forward from an older survey.
This annual approach helps us provide an up-to-date view of the actuarial compensation market. It also means that participating in the survey each year is important if you want your current compensation to be reflected in the published data.
We appreciate everyone who takes the time to participate and help us maintain this resource for the actuarial community.
11. How is DW Simpson’s salary data different from salaries listed in job postings?
Many online salary resources rely heavily on compensation figures included in job advertisements. However, a salary listed in a job posting does not necessarily reflect the compensation ultimately offered to or accepted by a successful candidate.
DW Simpson’s salary survey uses actual compensation data from confirmed working actuaries over the previous 12 month period.
This distinction provides a valuable perspective on real-world compensation rather than relying solely on advertised salary ranges.
By examining reported compensation alongside experience and other available filters, actuarial professionals can gain a more practical understanding of current salary trends.
12. Where does DW Simpson collect its salary data?
We gather compensation data from two primary sources:
- Internal records: Compensation information collected through our work with actuaries during the relevant year.
- Annual salary survey: A survey distributed to confirmed working actuaries, generally by email during the summer or fall.
Combining these sources helps us build a current picture of compensation across the actuarial profession. Want to participate?
Sign up to receive the DW Simpson Salary Survey.
Your participation helps us continue providing useful, current compensation insights to the actuarial community.
13. Do I need to complete the salary survey every year?
Yes!
Our published graphs reflect data collected for the relevant year, and previous survey responses do not automatically represent your current compensation.
Taking a few minutes to complete the survey helps us keep the data current and ensures that the published resource continues to reflect the experiences of working actuaries.
We appreciate your participation and the role you play in helping us provide valuable salary information to the profession.
14. Where can I find previous DW Simpson Salary Surveys?
You can explore previous editions of the salary survey in our Salary Survey Archive.
Reviewing historical surveys can help you understand how compensation trends have changed over time and provide additional context for the current data.
For the most relevant picture of today’s market, we recommend using the latest survey alongside previous editions.
Make the Most of the DW Simpson Salary Survey
The DW Simpson Salary Survey is designed to help actuaries better understand compensation trends throughout their careers. Whether you’re comparing salaries by experience, exploring regional differences, researching consulting compensation, or reviewing Canadian market data, our interactive graphs provide several ways to explore the information.
Remember that salary survey figures are a valuable starting point, not a complete assessment of anyone’s market value. Designation, responsibilities, industry, location, and other factors all contribute to compensation.
Have questions about your salary or the current actuarial job market? Connect with a DW Simpson recruiter to discuss your experience, career goals, and opportunities in today’s market.
And if you haven’t completed this year’s survey, sign up to participate. Your contribution helps us continue publishing current, relevant salary data for the actuarial community.
GROW YOUR CAREER! – WORK WITH THE LEADING ACTUARIAL RECRUITMENT FIRM!
DW Simpson has grown to become the largest actuarial recruiting firm because of our consistent results. Over the last 36+ years, DW Simpson has placed actuaries in jobs at all levels, and in all actuarial disciplines, and you can find current opportunities here DW Simpson. We are constantly growing and evolving as recruiters and industry knowledge leaders, with an eye towards becoming more effective, better educated, and continuing to drive success for our clients and candidates. DW Simpson also provides the industries’ most trusted actuarial salary survey Actuarial Salary Surveys – DW Simpson