RADSearch Actuarial Salary Survey Results 2012

Salary Survey Methodology 

This survey began in early March 2012, and was closed the fourth week of March, 2012. The results were distributed to participants in June of 2012. 

The goal of the survey was to gather individual compensation information rather than company compensation policies.  The Survey population consisted of Life and Property Casualty Actuaries based in the United States with the following designations: FSA and FCAS receiving their designations between 2006 and 2011; ASA and ACAS receiving their designations between 2008 and 2011.

This data was collected from a national sample and the salary numbers cited are average amounts. Cost of living differences have not been factored into any of these numbers. In order to maintain the integrity of the data, outliers were removed, including responses from part-time or non-traditional actuaries.  

Due to recent changes in the Casualty Actuarial exam program, the number of new Casualty Associates (ACAS 2011) was abnormally low when compared to previous years, and as a result, we did not receive a statistically sound response that would allow for reliable data to be reported.

The tables below list the average base and average bonus reported by the actuaries surveyed.  Results are reported by the year the designation was achieved, allowing participants to compare themselves to their peers.  Copensation Information for consultants is reported separately from the information for company actuaries.

Compensation Data - Life Actuaries

 

Average base reported in 2012

Average bonus reported in 2012

ASA Company 2008

$95,048

$8,808

ASA Company 2009

$93,155

$9,785

ASA Company 2010

$91,081

$9,561

ASA Company 2011

$88,210

$6,136

 

 

 

ASA Consulting 2008

$101,178

$17,133

ASA Consulting 2009

$100,736

$14,815

ASA Consulting 2010

$87,665

$7,800

ASA Consulting 2011

$85,809

$6,555

 

 

 

FSA Company 2006

$141,170

$28,559

FSA Company 2007

$139,651

$24,236

FSA Company 2008

$131,887

$23,826

FSA Company 2009

$119,115

$19,085

FSA Company 2010

$114,899

$18,552

FSA Company 2011

$108,655

$11,149

 

 

 

FSA Consulting 2006

$149,233

$35,120

FSA Consulting 2007

$156,723

$37,572

FSA Consulting 2008

$125,780

$35,523

FSA Consulting 2009

$131,778

$22,178

FSA Consulting 2010

$112,363

$18,688

FSA Consulting 2011

$108,174

$19,983


Compensation Data - P&C Actuaries

 

Average base reported in 2012

Average bonus reported in 2012

ACAS Company 2008

$114,175

$9,925

ACAS Company 2009

$107,903

$4,400

ACAS Company 2010

$105,069

$5,600

ACAS Company 2011

$97,580

$5,750

 

 

 

ACAS Consulting 2008

*

*

ACAS Consulting 2009

$102,000

13,188

ACAS Consulting 2010

$109,700

$9,050

ACAS Consulting 2011

*

*

 

 

 

FCAS Company 2006

$151,536

$27,543

FCAS Company 2007

$140,823

$22,174

FCAS Company 2008

$133,352

$24,308

FCAS Company 2009

$123,331

$17,125

FCAS Company 2010

$114,461

$12,732

FCAS Company 2011

$108,596

$11,745

 

 

 

FCAS Consulting 2006

*

*

FCAS Consulting 2007

$137,003

$26,250

FCAS Consulting 2008

*

*

FCAS Consulting 2009

$131,560

$22,390

FCAS Consulting 2010

$122,800

$17,222

FCAS Consulting 2011

$108,745

$16,000


Additional Findings

Job Changes and Relocation

An average of 10% of respondents indicated that they had made a job change within the past two years. That is the same percentage reported in 2011; in 2010 it was 8%. Reasons for the job change were evenly divided: more money, responsibility, and better location.

When asked if they would relocate for a better job opportunity a little more than half of all respondents said no.

The average increase in base salary for making a job change was 15% for consulting actuaries, and 12% for company actuaries.

Job Market for Actuaries in 2012

 65% of the consulting firm respondents anticipate that their firm will be adding staff. 

87% of company respondents anticipate their firms adding actuarial staff. 

The number of anticipated layoffs has dropped from a reported high of 20% in 2009 for both groups, to 5% for company actuaries and 10% for consultants projected for this year.

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