Pension Actuary Salary Survey

Pension Actuary Salary Survey

Pension Actuary Salary Survey


The DW Simpson Pension Actuarial Salary Survey is comprised of salary data we accumulate in our day-to-day operations. All of our pension 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 Pension FSA with 15 years of experience in New York, 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 York 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 Pension Actuary Salary Calculator


This interactive graph summarizes all of our pension actuary salary data into 3 non-linear regressions to make it as easy as possible to answer the question, “How much do pension 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 Pension page for information about current jobs & industry news.

Browse Pension Jobs & News

Pension Actuary Salary Survey

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

Pension< 1 yr1-3 yrs3-5 yrs5-7 yrs7-10 yrs10-15 yrs*15-20 yrs*20+ yrs*
1 Exam44-5650-6455-70
2 Exams46-6256-7058-7764-83
3 Exams48-6857-7461-8465-9172-99
4 Exams56-7563-8465-9174-10076-106
5 Exams66-8968-9475-10477-112
ASA78-9880-10787-11890-139108-175123-243152-260+
FSA112-151118-168131-237154-329164-369+

Know your market.


Pension jobs make up less than 10% of open actuarial jobs, however, the demand for actuaries to manage existing retirement funds remains constant with salaries rising for associates & fellows. In recent years, more companies and individuals have moved into 401Ks and other retirement options. This has led to slightly negative growth for the overall pension market, with the exception being public pensions.

Pension Actuary Salary by Location

We’ve got big data.


The pension market as a whole has fairly consistent salaries across the US, however, there are more outliers at the top and bottom end of the spectrum.  The lower number of jobs available in the pension market sometimes leads to lower than expected salaries accepted by actuaries tied down by location.  On the other end, pension actuaries with solid experience in investments, pension risk transfer and other high demand skills will often draw much higher salaries.

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 pension actuaries and employers are in the Northeast, with growing markets in the West and Midwest.

Pension Actuary Salary by State

Location, location, location.


These state-by-state pension 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.

Pension 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 Pension Actuarial Jobs

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



Well respected consulting client is in search for an ASA, EA, or FSA with 8+ years of relevant experience including retirement plan experience (DC, DB) with more than one provider organization. Candidate will be managing senior-level client relationships, developing financial plans, and organizing services on a cross-section of complex projects. Excellent leadership, problem-solving, and analytical skills are essential. Must be able to work independently and in a team environment. Proficiency in PowerPoint and Word required. (#49824)




A well known international client is in need of an EA, ASA, or FSA with at least 5 years of experience, and proficiency in IRS funding valuations, as well as the ability to oversee actuarial analysts in the preparation of benefit calculations, government forms, etc. Must have strong management skills. (HPJ #47847)




Growing pension consulting firm seeks FSA / EA pension actuary with 7+ years of employee benefits and/or retirement benefits experience.  Proficiency in ProVal a big plus, as well as strong public speaking skills.  Must be available to travel, multi-task, and meet deadlines.  (HPJ #47805)


Pension Actuary (Indiana #1215)



Our client in Indiana seeks a pension student actuary with 3+ years of experience who has passed at least 2+ exams, and is currently working towards an ASA designation. A new / near ASA or EA is strongly preferred, but not required. This role can also be located in Illinois, Missouri or Georgia. (#1215)

 




Top financial and actuarial services company seeks an Actuarial Associate & Texas native to provide employee retirement benefits to clients. You will support the consulting actuary and other members of the benefits team team. Part of your role will involve managing client relationships. Prepare valuation and compliance materials and assist in building presentation materials for clients. Solid benefits experience and 1+ exams is desired along with strong technical skills like IRS valuations. (#12023)


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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