Life Actuary Salary Survey

Life Actuary Salary Survey

Life Actuary Salary Survey


The DW Simpson Life Actuarial Salary Survey is comprised of salary data we accumulate in our day-to-day operations. All of our life 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 a Life FSA with 15 years of experience in New Jersey, 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 Northeast FSA graph and New Jersey 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.

For a personal salary evaluation, please contact us and submit your resume.

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Quick Life Actuary Salary Calculator


This interactive graph summarizes all of our life actuary salary data into 3 non-linear regressions to make it as easy as possible to answer the question, “How much do life 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.

Visit our Life page for information about current jobs & industry news.

Browse Life Jobs & News

Life Actuary Salary Survey

A passing grade for exams P, FM, IFM, MLC and C each equal 1 exam.

Life< 1 yr1-3 yrs3-5 yrs5-7 yrs7-10 yrs10-15 yrs*15-20 yrs*20+ yrs*
1 Exam51-6154-7056-76
2 Exams52-6455-7758-8363-90
3 Exams55-6958-8163-9469-100
4 Exams57-7664-9268-10074-10476-117
5+ Exams68-10372-10976-12085-130
ASA75-11781-13083-14393-161109-188109-225125-258+
FSA100-152120-200124-247135-288151-364160-504+

We see the trends.


The life actuarial market typically has the highest outliers with salaries well into the six figures. These high paid actuaries usually have backgrounds in investments, consulting and international business. The highest concentration of life actuarial jobs are in the Northeastern US, however, demand for life actuaries is strong across the US and internationally.

Life Actuary Salary by Location

We’ve got big data.


The life 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 life actuaries and employers are in the Northeast and Midwest, with growing markets in the Southeast, and insurtechs driving growth in the West.

Life Actuary Salary by State

Location, location, location.


These state-by-state life 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

Aspiring Actuaries


We are the only actuarial recruitment firm with a full dedicated entry level team. Please visit our entry level actuarial jobs page for current actuarial jobs & news.

Life 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 Life Actuarial Jobs

Browse our open Life Actuary Jobs below, and contact us for more information about the employer, location, job requirements and salary.



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)




Reinsurance client in the Midwest is seeking a recent FSA/FCIA who can perform pricing, modeling, analysis, and structuring activities related to specific new business development opportunities for the Global Financial Solutions business unit. This individual should be familiar with the reinsurance industry, have annuity product knowledge, and experience with product design/pricing or ALM/risk management. Must be able to manage multiple projects and/or teams simultaneously. Expertise in Moody’s AXIS, FIS Prophet or MG-ALFA is preferred. Proficiency in VBA, Access, and SQL required. (#49895)


Actuarial Associate, Life (Oregon or Remote #49893)

  • Date: November 9, 2020
  • Category: Life
  • Location: Oregon


Oregon insurance company has a great opportunity that can also be Remote for the right candidate. The ideal individual would be an ASA with 3+ years of experience and in pursuit of FSA designation. Candidate should be familiar with Group Benefits products, possess GGY Axis experience, and have strong attention to detail & good organizational skills. Technical aptitude in Excel, SAS, and other programming languages is desired. (#49893)




Great opportunity in Oregon or Remotely for a FSA who can lead the Asset Management Group (AMG) modeling team. This individual will support three asset management businesses: Individual Annuities, Retirement Plans and FHLB. The team will be responsible for managing all GGY AXIS models which are used for enterprise-wide actuarial reporting as well as business line valuation. Candidate must possess extensive project management experience, excellent analytical skills, and proficiency in Excel. Axis experience is a plus. Salary $150-190K. (#49892)




Growing insurance company seeks a talented modeling actuary (FSA) to join their Individual Annuities group. This highly motivated individual will be responsible for product development, product filing, rate setting, and ALM Strategies for the Individual Annuities division. Candidate should possess strong communication, expert Excel skills, and prior modeling experience. Must have at least 3 years of actuarial experience and familiarity with GGY Axis. Salary: $140-165k. (#49891)




Insurance client in the Midwest is in search for a student actuary with strong modeling, quantitative, and programming abilities. This individual will be performing model validations and working with members of the model risk management team to organize work and move projects forward. Must possess a willingness to learn and have some knowledge of the insurance industry and its products. Advanced degree and successful completion of actuarial exams towards designation is preferred. Programming languages including C#, R, SQL, VisMoses/RiskAgilityFM are a plus. (#49887)




Leading global reinsurance company has an exciting opportunity for a person who has been working in the re/insurance industry and is looking to make the next steps in developing their career in this industry. This individual will be part of a team that supports the Head of Business Development as well as the Client Partners in Hong Kong. Must have an actuarial or highly technical background with 2-4 years’ experience in insurance in the Asia market. Strong communication skills and fluency in English, Cantonese and Mandarin is required. (#49886)


Actuarial Director, Health (Nebraska #49869)



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)




Midwestern insurance company is in search for a designated FSA with 4+ years of actuarial experience, including a deep understanding of life insurance product impacts on statutory and GAAP basis. The ideal individual would be familiar with product pricing and possess advanced knowledge on hedging concepts, general account investments and asset/liability management. Candidate should be highly analytical and possess strong researching and problem-solving skills. (#49862)




Life client in the Northeast is seeking a talented ASA or near FSA with 3+ years life of insurance experience, including strong knowledge of pricing and underwriting. The ideal individual would be proficient in data manipulation (R, Excel, Tableau) and in drafting documents (Word, PowerPoint). Must be a team player with excellent communication skills. Experience with actuarial modeling software MGALFA and GGY-AXIS is a plus. (#49812)




Well respected Life insurance company has a great opportunity for a FSA with 8+ years of actuarial experience, including 5+ years of life insurance experience. The ideal candidate will have experience of how pricing and underwriting interact in life insurance, including protective value studies, and optimizing outcomes in automated underwriting programs. Must be a strong communicator, able to multi-task in a deadline orientated environment, and work effectively on cross-functional teams. MGALFA and GGY-AXIS experience is preferred. (#49811)


AVP, Pricing Actuary (Maryland #49800)



Well established Life client is seeking an ASA or FSA who is well experienced with actuarial/product development including an emphasis on universal life, traditional life and annuity product pricing. The ideal individual would be a critical thinker with excellent project management skills, valuation experience, and a strong understanding of the life insurance industry, including insurance accounting. Management experience as well as familiarity with ALFA software is strongly preferred. (#49800)


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.

View our 2019 Actuarial Meeting Schedule to see which DWS recruiters will be attending your next conference.

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As an actuary, it’s important to stay in touch with your DW Simpson recruiter. We can keep you up to date on the latest job openings, actuarial news & and other valuable market information.

Contact us to learn more about actuarial salaries, in demand skills & market trends. If you’re an actuarial employer looking to hire an actuary, we can help with that, too.

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.

Company Information

Address: 4121 N Ravenswood Ave, Chicago, IL 60613
Phone: (800) 867 - 2300
Email: actuaries@dwsimpson.com

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.

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