Health Actuary Salary Survey
The DW Simpson Health Actuarial Salary Survey is comprised of salary data we accumulate in our day-to-day operations. All of our health actuary salary information is listed below for student, ASA & FSA actuaries by years of experience, region, state & gender.
To calculate your expected salary & bonus, it is best to plot your experience level on each graph you fit into. If you are an FSA with 15 years of experience in Illinois, first locate the FSA graph and plot the intersection of your years of experience and the trend lines. From there, you can do the same using our Midwest FSA graph and Illinois graph to create an accurate salary range based on National, Regional and State salary estimates.
For 30 years, DW Simpson has gathered salary information from thousands of actuaries we have placed in actuarial jobs worldwide. As the largest actuarial recruitment firm, we place more actuaries in jobs than any other company. Through our continued relationship with actuaries and employers, we gather thousands of data points on salaries, bonus packages, total yearly compensation, career level, discipline, location, country and many other factors. Our experienced recruiters use this information to help you get the best job offer the market will provide.
The data in each salary table reflects total compensation (base + bonus) of the 5th and 95th percentiles. Each salary graph has a Green line which reflects Total Compensation, a Blue line which solely represents Salary, and a Red line which solely reflects Bonus.
Please contact us if you have any questions about our survey, your actuarial career or if you would like a customized compensation analysis based on your background. Our experienced actuarial recruiters can provide you with the best information so you can make the right decisions about your next career move.
Quick Health Actuary Salary Calculator
This interactive graph summarizes all of our health data into 3 non-linear regressions to make it as easy as possible to answer the question, “How much do health actuaries make?” This includes the Student, ASA and FSA career levels. Continue scrolling down the page to see our underlying data and salary charts separated by career level & location.
Health Actuary Salary Survey
A passing grade for exams P, FM, IFM, MLC and C each equal 1 exam.
|Health||< 1 yr||1-3 yrs||3-5 yrs||5-7 yrs||7-10 yrs||10-15 yrs*||15-20 yrs*||20+yrs*|
We’ve got big data.
The health market has seen the fastest growth in salaries along with the highest demand for experienced actuaries. With the implementation of the Affordable Care Act, the demand for health actuaries has dramatically increased at all experience levels, from student to Chief Actuaries.
Health Actuary Salary by Location
We’ve got big data.
The health market as a whole has consistent salaries across the US. In low cost of living areas, employers still compete nationwide for talent, and because of this, employers will often pay actuaries on par with the national average, while pointing to the low cost of living as an added bonus. This is not always true at the entry level, because high cost of living areas can be burdensome for entry & associate level actuaries. In these cases, you will often see slightly higher salaries to offset the difference. Overall, the short supply of experienced actuaries keeps salaries growing in large markets, while smaller markets must be creative to attract talent from outside of their local pool of candidates.
The graphs below also show how actuaries are distributed nationwide by career level and region. The majority of actuaries and employers are in the Northeast and Midwest, with growing markets in the Southeast, and insurtechs driving growth in the West.
Health Actuary Salary by State
Location, location, location.
These state-by-state health actuary salary surveys help give you an idea of how the market is spread out across the US, and the distribution of actuaries across various skill levels in each state. If you would like to see any state broken out by career level or industry, please contact us. If you do not see your state listed below, it is usually due to limited data. In that case, please see our regional salary surveys or contact us and we would be happy to share any data we may have.
Entry Level Actuarial Salary Survey
Health Actuary Salary Survey by Gender
Is there an actuarial gender pay gap?
Due to the actuarial exam process, pay raises in the actuarial field typically follow a very rigid pay scale. Because of this, it is unlikely to see pay discrimination that may be present in other industries. With the increasing number of women entering the actuarial profession, we expect to see these two linear regressions to get closer and closer as the ratio nears 50:50. Currently, women make up roughly 35% of the actuarial workforce across the board, while at the entry level it is almost 50:50.
Open Health Actuarial Jobs
National Life and Health reinsurance company has an exciting opportunity for a FSA with data analytics experience or a data scientist with actuarial knowledge including 7 years’ experience within an insurance setting. This individual should be familiar with Life insurance products, be highly organized, and possess strong analytical & problem-solving skills. Must have strong working knowledge of statistical and database languages, work well in a collaborative environment, and able to analyze large amounts of data including understanding and dealing with informational gaps. This opportunity is available in North Carolina, Colorado, Florida, or Remote. Some travel is required. (#49936)
Growing Georgia seeks a student actuary with 3+ years of actuarial experience including 2 years of Commercial or Medicare Advantage pricing experience. Must be proficient in Microsoft Office, able to work on multiple projects simultaneously, and contribute to client projects through building and/or updating spreadsheets, programming and checking code. Having Medicare Advantage bid experience and ACA pricing experience is a plus. Progression toward FSA designation is strongly encouraged. (#49907)
Well respected client in the Southeast is in search for an ASA with 3+ years of actuarial health experience. The ideal candidate would have a background in Medicare Advantage bid and ACA pricing. Must be able to work in a fast-paced environment, possess strong collaboration skills, and be a sharp critical thinker. Proficiency with spreadsheets and database applications (Microsoft Office products) is required. (#49906)
Growing Health client has a great opportunity for a student actuary or ASA with 5+ years of actuarial or healthcare data analysis experience. Candidate will be responsible for supporting the analysis, reporting and savings calculations for various customers within the Strategic Market Segment. Ideal qualities include: Excellent Excel skills, strong communication, ability to manage multiple projects, and a team player mentality. Salary up to $95K. (#49899)
Northeast Health client has a great opportunity for an ASA or FSA with 8-10 years health insurance experience. The ideal individual would have 3 years of prior people or project management experience, strong analytics and Excel skills, and solid communication abilities. Candidate should frequently contribute to the development of new theories and methods, employs expertise as a generalist or specialist, and be able to work in a Labor/Management Partnership environment. Must be qualified to sign the NAIC Statement of Actuarial Opinion. Salary: $132-155K. (#49890)
Pennsylvania Health client is in search for an ASA or FSA with 8 or more years of actuarial experience, including 5 years’ management experience. This individual will be responsible for the overall management and technical oversight of an actuarial staff where activities are concerned with pricing and rate development. Candidate must be well organized, possess excellent communication, and strong project management skills. Demonstrated knowledge in any of the following: premium rate calculations, required reserves, plan design, trend analysis, rate table construction, actuarial research, or systems development is essential. Some travel required. (#49881)
Well known insurance client is in search for a self-motivated actuarial leader to head the Individual Accident and Health modeling and valuation team. The ideal candidate would have 5+ years of actuarial experience, a FSA designation, and familiarity with modeling, valuation and financial reporting and analysis. This individual should possess strong leadership, communication and human relations skills. Knowledge in the following products including individual disability income, hospital indemnity, critical illness, accidental death, cancer, major medical, and Medicare Supplement is preferred. (#49869)
Northeast Health client has a great opportunity for a NON, ASA or FSA with 10+ years of actuarial or healthcare analysis experience. This individual will be working in a growing, fast paced environment and will have to possess excellent analytical skills and strong presentation skills. Must be a great communicator, able to manage multiple priorities and projects, and proficient in Microsoft Excel, PowerPoint, and SQL. Familiarity with Medical Economics, Medical Cost Analysis, or Claims Data Mining experience would be preferred. Some travel required. (#49866)
Well known reinsurance client is seeking a talented ASA or FSA with 10+ years of actuarial experience including 5 years focused on Employers Stop Loss or Medical Reinsurance. The ideal individual would have excellent communication and leadership skills, the ability to meet defined deliverable dates, and an innovative attune and willingness to think about actuarial problems in new ways. Candidate will also offer opinions regarding strategic direction and will join other executives in providing insights to brokers and clients. Strong data science techniques and coding languages preferred. Position available in Connecticut, Kansas, Illinois, or New York. Salary $150-200K. (#49861)
Well known healthcare provider has a great opportunity for an ASA with 5+ years of experience leading Medicare Advantage bids. The ideal individual would be well organized, able to work on multiple projects simultaneously with minimal supervision, and well experienced with actuarial forecasting models and projections. Candidate will be managing the Medicare Advantage bid from an actuarial perspective, presenting financial projects, and developing dashboards. Must be proficient in Microsoft Office and possess basic programming skills in SQL, SAS or R. (#49859)
Colorado Healthcare provider has a great opportunity for a student actuary with 2 or more years of relevant actuarial experience in the health insurance industry and successful completion of at least 3 SOA exams. Candidate will be applying actuarial underwriting principles to value-based contracting efforts, including baseline and trend calculations and annual financial reconciliations. Strong project management skills and the ability to communicate effectively with cross-functional teams is required. Must be proficient in Excel and SQL. (#49802)
Healthcare service provider in the Southeast is seeking a certified coder, medical auditor, or administrator by the AAPC or AHIMA. This individual must have 2+ years of experience in Risk Adjustment methodology and 3+ years of experience in a management position in the healthcare field. Candidate will be responsible for the operational management of Medicare and Medicaid Risk Adjustment coding and should possess strong knowledge of managed care industry or care management trends and disease management operational process. Must be self-motivated, possess excellent communication skills, and able to work independently. Some travel required. (#49781)
Meet Our Recruiters
DW Simpson is headquartered in Chicago, IL, and we have US locations in Milwaukee, WI; DelRay Beach, FL; Pacific Palisades, CA; and Atlanta, GA. You can learn more about our company here.
Internationally, we work in all of the major markets, including London, Frankfurt, Zurich, Hong Kong, Sydney, Singapore, Seoul, Dubai.
Click here for a full list of recruiter bios and contact information.
Questions? Contact us.
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We work with actuaries at all career levels from Entry Level to Chief Actuary. Our recruiters attend actuarial meetings world wide and recruit actuaries in all disciplines including P&C, Health, Life, Pension and Non-Traditional actuarial roles.
Address: 4121 N Ravenswood Ave, Chicago, IL 60613
Phone: (800) 867 - 2300
About Our Survey
COPYRIGHT 2019 – This survey may NOT be systematically duplicated on any website or other media.
- Updated Actuary Salary Surveys (US dollars, in thousands)
- Each Salary Matrix figure includes BASE SALARY + TOTAL BONUS (Passed Exams, Target, Stock, Auto, Housing, etc)
- Salary Ranges represent the 5th and 95th percentiles
- All Salary Data comes from actual job placements, updated salary information from previous placements, prior job compensation before placement, and turned down salary offers.
This is not a full range of compensation packages. We find that the salaries + bonuses of 90% of the actuaries that we speak with fall within these ranges (the top and bottom 5% are excluded). These ranges are for entry level actuaries, students, associates and fellows who are serving in more or less traditional actuarial roles. Compensation packages for this purpose include salary plus bonus. Years of experience begins with first full-time actuarial experience. All types of actuarial employment – insurance, consulting, reinsurance and other employers – are combined. The graphs and linear regressions include 98% of all salary data collected. These salary surveys are segmented by location, gender, discipline, career level, general insurance, consulting and reinsurance. If you would like customized salary reports, please contact us for more information.