I love how wide the ranges are in the Ezra salary survey.
The range gap is like 60k for each category lol
Would love to know who are making in the high range of those.
For example, ACAS with with 4 years of experience (which I’m at), is making 109k-165k.
I’m in the middle of that but sheesh, who’s making that 165k?
Range looks right to me, but…
I’ve also been getting feedback from some (few, not most) candidates that they have offers at or near 6 figures. Don’t know if this is geography based or something not quite truly actuarial or maybe it’s more in the tech space, but I was a little flabbergasted.
Well in tech, a 26 year old is making 270k.
Of course with a large tech company.
So, one datum point?
In low CoL areas I’ve seen as low as 50k starting with 53-55k being common. (Total comp more like $54-$60k). Exams nudged it by some amount, but I didn’t know of an entry (typically 3 exams or fewer) getting over $60k. Data points - 2 companies, perhaps 6 people.
I know a person with 3 exams and 2 years of experience who got something like $117k base. Doesn’t surprise me that somebody out there is getting that, maybe in NYC or similar.
that’s some outlier. Is this actuarial or data science?
Actuarial, at one of the largest P&C companies in the US. Working remote from low CoL but company based in a high CoL area.
Wait so this person that’s making 117k base is living in a low COL area?
So on an adjusted basis, that’s like making 150k. lol
Yep. They’re like… 24-25ish y/o too.
Wait. I think you’re asking a question about the data. Your comment reads better when you see the question as rhetorical.
My son just started at Google for more than what my full time salary would be. (I’m part time.) My husband is a web developer, and earns about what i earn, now that I’m part time. There’s a big range within “tech”.
Not surprised. It’s interesting to see how big of a gap the salary range is for some other industries like tech and law.
I have two friends who are in law and one make almost double/triple the other guy’s salary just bc they went to different law schools. I’m sure it’s the same with tech. Most software engineers prob make close to what actuaries make but those that can break into top tech companies prob make a lot more.
Yeah, my brother started his own company at 12 and was making 6 figures before 18.
My sister works in programming for a start up and makes less than $75k a year.
My dad has worked at a name brand bank for almost 40 years in software programming and makes about what I do.
Do you guys think consulting actuaries make more and if so how much more?
I’m not sure if I want to work those consulting hours but I’m curious how much more I can make by being in consulting.
My experience in Health - for junior to mid to recent FSAs you’ll make about the same as at an insurance carrier, maybe slightly more (10K ish). If you are a billable hours rockstar you can make a little more. The real money in consulting comes when you are good at bringing in your own clients. So if you love wining and dining and networking and can sell your services, you can make bank. Otherwise the extra hours aren’t worth the small amount more (if any). FWIW I got a decent raise switching out of consulting, and my current target bonus is higher than any bonus I ever had from billable hours. YMMV obviously. I switched because I hated the networking/sales aspect.
Yes. But it depends a lot. The rainmakers will make a lot of money. Of course, the company actuary who becomes head of products will also make a lot of money, they just aren’t really working as an actuary any more.
Yeah I think you’re right. It just may not be worth it and to be honest, I personally don’t fit that type of a professional.
This was my experience as well, I got a bigger bonus from leaving consulting. I can see if you’re the guy bringing in all the clients though they’d start paying you the stereotype.
That was what I disliked most about consulting, and why I never looked back after switching to an insurance carrier. I felt like to get ahead, you had to prostitute your friendship, and that wasn’t something I wanted to do.
Of course, the people who get ahead the most at carriers also probably are closer to their work friends than to any other group of friends, but that feels more organic, people forming bonds with those they work with, rather than forming bonds in the hope of future time together.