GITNUXREPORT 2025

Actuarial Statistics

Actuarial field is rapidly growing, highly paid, with diverse, evolving opportunities worldwide.

Jannik Lindner

Jannik Linder

Co-Founder of Gitnux, specialized in content and tech since 2016.

First published: April 29, 2025

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Key Statistics

Statistic 1

The global actuarial market size was valued at approximately $80 billion in 2022

Statistic 2

The number of CAAs (Chartered Actuary Associates) globally is over 3,000, representing a significant portion of credentialed professionals

Statistic 3

The Societies of Actuaries worldwide collaborate through joint initiatives like the IAI (International Actuarial Association), representing over 80 countries

Statistic 4

The actuarial profession is projected to grow 18% from 2020 to 2030, much faster than the average for all occupations

Statistic 5

Approximately 40% of actuaries work in the insurance industry

Statistic 6

The number of actuaries in the United States is estimated to be around 24,000

Statistic 7

The demand for actuaries is driven by the need to analyze complex financial risks, especially in insurance, pensions, and investment sectors

Statistic 8

About 60% of actuaries work full-time, with many working beyond standard hours during busy periods

Statistic 9

The average age of employed actuaries is approximately 45 years old, indicating a mature workforce

Statistic 10

Actuaries contribute to climate change risk modeling and sustainability initiatives within the financial sector

Statistic 11

The growth in data science and big data has increased the demand for actuaries with advanced analytical skills

Statistic 12

The median age for new actuaries entering the profession is around 28 years old, reflecting recent graduates and early career professionals

Statistic 13

The Society of Actuaries reported a 10% increase in exam participation during the past five years, reflecting growing interest in the field

Statistic 14

Actuarial work helps in designing pension plans that are sustainable for decades, with pension actuaries playing a crucial role

Statistic 15

Nearly 25% of actuaries work outside traditional insurance roles, including in consulting, government, and technology sectors

Statistic 16

The Society of Actuaries reports that under 10% of actuaries are women, highlighting ongoing diversity challenges in the field

Statistic 17

The rise of health insurance and healthcare analytics has created new opportunities for actuaries in the healthcare sector

Statistic 18

The global demand for actuarial consultants in emerging markets increased by approximately 12% between 2020 and 2023

Statistic 19

The use of blockchain technology in actuarial roles is an emerging trend, especially for secure data management

Statistic 20

Technology firms are increasingly hiring actuaries to develop risk models for emerging fields such as insurtech and fintech, creating new job opportunities

Statistic 21

The actuarial profession is actively involved in climate risk forecasting, helping limit financial impacts of climate-related events

Statistic 22

The U.S. has approximately 600 universities offering actuarial programs or courses, supporting industry demand

Statistic 23

Actuaries are increasingly involved in regulatory compliance and financial reporting, such as Solvency II and IFRS 17, impacting global standards

Statistic 24

The global actuarial services market is expected to expand at a CAGR of 7% from 2023 to 2028, driven by increased demand for risk management solutions

Statistic 25

Actuaries are required to pass a series of professional exams, with at least 7 exams typically needed to become fully credentialed

Statistic 26

Over 50% of actuaries hold the ASA (Associate of the Society of Actuaries) credential

Statistic 27

The Society of Actuaries (SOA) offers multiple credentialing pathways including ASA, ACAS, and others, with over 8,000 credentialed members worldwide

Statistic 28

Approximately 20% of actuaries hold advanced degrees such as a master’s or PhD in mathematics, statistics, or finance

Statistic 29

The actuarial field has one of the highest pass rates among professional exams in the finance sector, with exam pass rates often exceeding 50%

Statistic 30

Continuous professional development (CPD) is mandatory for actuaries to maintain their credentials, with most requiring at least 30 hours annually

Statistic 31

The Society of Actuaries has launched initiatives to improve diversity, equity, and inclusion, aiming for at least 25% diversity in new credentialed members by 2025

Statistic 32

The number of women pursuing actuarial certification has increased by 15% over the past decade, yet gender disparity remains

Statistic 33

The average time to become fully credentialed as an actuary is approximately 4 to 6 years, depending on the exam pass rate and study pace

Statistic 34

Continuing education and specialization are crucial for actuaries to stay relevant, with many pursuing certifications in data science, machine learning, and cybersecurity

Statistic 35

The median annual wage for actuaries was $108,350 in May 2020

Statistic 36

The average starting salary for an entry-level actuary in the U.S. is approximately $66,000

Statistic 37

The highest paying industry for actuaries in the U.S. is securities and commodities businesses, with average wages over $125,000

Statistic 38

Actuaries in the UK earn an average salary of approximately £60,000-£70,000, depending on experience and specializations

Statistic 39

The median annual bonus for actuaries can range from 10% to 20% of their base salary, dependent on performance and sector

Statistic 40

Actuaries working in investment companies often earn higher bonuses due to performance-based incentives, with average total compensation exceeding $120,000

Statistic 41

Actuarial salaries tend to rise faster than the average for other finance-related professions once credentialed, with high earners exceeding $200,000 annually

Statistic 42

The use of predictive modeling and AI is increasingly integrated into actuarial work, enhancing risk assessment accuracy

Statistic 43

Firms investing in actuarial analytics have seen up to a 15% reduction in underwriting losses, demonstrating the professional’s impact on profitability

Statistic 44

The COVID-19 pandemic accelerated the adoption of digital tools within the actuarial profession, improving remote working capabilities

Statistic 45

Actuarial data analytics tools can process millions of records in seconds, facilitating real-time risk assessment

Statistic 46

The adoption of cloud computing has significantly improved data storage and access for actuaries, increasing efficiency

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Key Highlights

  • The actuarial profession is projected to grow 18% from 2020 to 2030, much faster than the average for all occupations
  • The median annual wage for actuaries was $108,350 in May 2020
  • Approximately 40% of actuaries work in the insurance industry
  • The number of actuaries in the United States is estimated to be around 24,000
  • Actuaries are required to pass a series of professional exams, with at least 7 exams typically needed to become fully credentialed
  • The average starting salary for an entry-level actuary in the U.S. is approximately $66,000
  • Over 50% of actuaries hold the ASA (Associate of the Society of Actuaries) credential
  • The global actuarial market size was valued at approximately $80 billion in 2022
  • The highest paying industry for actuaries in the U.S. is securities and commodities businesses, with average wages over $125,000
  • The demand for actuaries is driven by the need to analyze complex financial risks, especially in insurance, pensions, and investment sectors
  • About 60% of actuaries work full-time, with many working beyond standard hours during busy periods
  • The average age of employed actuaries is approximately 45 years old, indicating a mature workforce
  • The Society of Actuaries (SOA) offers multiple credentialing pathways including ASA, ACAS, and others, with over 8,000 credentialed members worldwide

With an impressive projected growth of 18% by 2030 and median salaries exceeding $100,000, the actuarial profession is rapidly evolving into a vital cornerstone of risk management, financial stability, and innovative analytics across global industries.

Global and Regional Market Data

  • The global actuarial market size was valued at approximately $80 billion in 2022
  • The number of CAAs (Chartered Actuary Associates) globally is over 3,000, representing a significant portion of credentialed professionals
  • The Societies of Actuaries worldwide collaborate through joint initiatives like the IAI (International Actuarial Association), representing over 80 countries

Global and Regional Market Data Interpretation

With an $80 billion market size and over 3,000 Chartered Actuary Associates orchestrating global risk analysis through international alliances like the IAI spanning 80+ countries, the actuarial profession proves that even in a world of uncertainty, careful number-crunching and collaboration are invaluable assets.

Market Trends and Industry Growth

  • The actuarial profession is projected to grow 18% from 2020 to 2030, much faster than the average for all occupations
  • Approximately 40% of actuaries work in the insurance industry
  • The number of actuaries in the United States is estimated to be around 24,000
  • The demand for actuaries is driven by the need to analyze complex financial risks, especially in insurance, pensions, and investment sectors
  • About 60% of actuaries work full-time, with many working beyond standard hours during busy periods
  • The average age of employed actuaries is approximately 45 years old, indicating a mature workforce
  • Actuaries contribute to climate change risk modeling and sustainability initiatives within the financial sector
  • The growth in data science and big data has increased the demand for actuaries with advanced analytical skills
  • The median age for new actuaries entering the profession is around 28 years old, reflecting recent graduates and early career professionals
  • The Society of Actuaries reported a 10% increase in exam participation during the past five years, reflecting growing interest in the field
  • Actuarial work helps in designing pension plans that are sustainable for decades, with pension actuaries playing a crucial role
  • Nearly 25% of actuaries work outside traditional insurance roles, including in consulting, government, and technology sectors
  • The Society of Actuaries reports that under 10% of actuaries are women, highlighting ongoing diversity challenges in the field
  • The rise of health insurance and healthcare analytics has created new opportunities for actuaries in the healthcare sector
  • The global demand for actuarial consultants in emerging markets increased by approximately 12% between 2020 and 2023
  • The use of blockchain technology in actuarial roles is an emerging trend, especially for secure data management
  • Technology firms are increasingly hiring actuaries to develop risk models for emerging fields such as insurtech and fintech, creating new job opportunities
  • The actuarial profession is actively involved in climate risk forecasting, helping limit financial impacts of climate-related events
  • The U.S. has approximately 600 universities offering actuarial programs or courses, supporting industry demand
  • Actuaries are increasingly involved in regulatory compliance and financial reporting, such as Solvency II and IFRS 17, impacting global standards
  • The global actuarial services market is expected to expand at a CAGR of 7% from 2023 to 2028, driven by increased demand for risk management solutions

Market Trends and Industry Growth Interpretation

With an 18% projected growth—outpacing most careers—and a workforce balancing mature expertise with fresh talent, the actuarial profession stands at the crossroads of traditional risk assessment and cutting-edge innovations like big data, blockchain, and climate forecasting, all while grappling with diversity challenges, illustrating that in the world of risk, the future is both data-driven and critically diverse.

Professional Development and Credentials

  • Actuaries are required to pass a series of professional exams, with at least 7 exams typically needed to become fully credentialed
  • Over 50% of actuaries hold the ASA (Associate of the Society of Actuaries) credential
  • The Society of Actuaries (SOA) offers multiple credentialing pathways including ASA, ACAS, and others, with over 8,000 credentialed members worldwide
  • Approximately 20% of actuaries hold advanced degrees such as a master’s or PhD in mathematics, statistics, or finance
  • The actuarial field has one of the highest pass rates among professional exams in the finance sector, with exam pass rates often exceeding 50%
  • Continuous professional development (CPD) is mandatory for actuaries to maintain their credentials, with most requiring at least 30 hours annually
  • The Society of Actuaries has launched initiatives to improve diversity, equity, and inclusion, aiming for at least 25% diversity in new credentialed members by 2025
  • The number of women pursuing actuarial certification has increased by 15% over the past decade, yet gender disparity remains
  • The average time to become fully credentialed as an actuary is approximately 4 to 6 years, depending on the exam pass rate and study pace
  • Continuing education and specialization are crucial for actuaries to stay relevant, with many pursuing certifications in data science, machine learning, and cybersecurity

Professional Development and Credentials Interpretation

Becoming a credentialed actuary demands navigating a marathon of rigorous exams, advanced degrees, and lifelong learning—an elite calculus that combines high pass rates, a growing but still gender-unequal diversity drive, and a commitment to staying sharp in a data-driven world.

Salary and Compensation Insights

  • The median annual wage for actuaries was $108,350 in May 2020
  • The average starting salary for an entry-level actuary in the U.S. is approximately $66,000
  • The highest paying industry for actuaries in the U.S. is securities and commodities businesses, with average wages over $125,000
  • Actuaries in the UK earn an average salary of approximately £60,000-£70,000, depending on experience and specializations
  • The median annual bonus for actuaries can range from 10% to 20% of their base salary, dependent on performance and sector
  • Actuaries working in investment companies often earn higher bonuses due to performance-based incentives, with average total compensation exceeding $120,000
  • Actuarial salaries tend to rise faster than the average for other finance-related professions once credentialed, with high earners exceeding $200,000 annually

Salary and Compensation Insights Interpretation

While a career as an actuary offers a solid and escalating financial forecast—median wages soaring past six figures, bonuses that can double the base pay, and specialized industries yielding exceptional remuneration—it's also a reminder that thorough risk assessment and numerical mastery are the true actuarial premiums paid to those who forecast the future with precision.

Technological Advancements and Innovation

  • The use of predictive modeling and AI is increasingly integrated into actuarial work, enhancing risk assessment accuracy
  • Firms investing in actuarial analytics have seen up to a 15% reduction in underwriting losses, demonstrating the professional’s impact on profitability
  • The COVID-19 pandemic accelerated the adoption of digital tools within the actuarial profession, improving remote working capabilities
  • Actuarial data analytics tools can process millions of records in seconds, facilitating real-time risk assessment
  • The adoption of cloud computing has significantly improved data storage and access for actuaries, increasing efficiency

Technological Advancements and Innovation Interpretation

As AI and cloud-powered analytics become the actuarial industry’s new crystal balls, insurers are not only sharpening their risk assessments and slashing underwriting losses but also transforming their workplace into a high-tech fortress, proving that in the world of numbers, innovation is the ultimate policy for profitability.