Do consulting actuaries make more?
As you gain expertise and advance in your career, compensation between insurance and consulting will become less equal. On average, consulting actuaries will earn more than their peers at insurance companies.
Do actuaries work in consulting?
Understanding Actuarial Consultants Actuaries are professionals who work in the financial sector. Actuarial consultants use these skills to dispense financial advice to their clients, manage risk, and help clients choose the proper insurance, pension, and investment plans to meet their specific goals.
What does a consulting actuary do?
Actuarial consultants provide financial advice to their clients to help inform their financial decision-making. They do this by communicating their analysis in a clear, non-technical way, ensuring their clients fully understand implications, and bearing in mind any limitations that may apply to their clients.
What type of actuaries get paid the most?
The highest-paid actuaries are:
- Chief Actuaries.
- Principal Actuaries.
- Partner Actuaries.
- Lead Consultants.
- Investment Actuaries.
Can actuaries make 500k?
In fact, actuary salaries in the range of $300,000, $400,000 or even $500,000 aren’t out of the question with the right experience and level of professional certification. Let’s dive in and do the math on how much money different types of actuaries earn.
Do consulting actuaries travel a lot?
“A consultant’s time is driven by external client needs, rather than internal project plans,” van Iwaarden says. “Consulting actuaries tend to work longer hours than those who work in insurance companies, but with more flexibility and travel.”
How many hours do consulting actuaries work?
They often work at least 40 hours a week. Some actuaries, particularly consulting actuaries, may travel to meet with clients. Consulting actuaries and actuaries who work in the investment banking field may experience a more unpredictable schedule and be expected to work more than 40 hours per week.
Can an actuary become a CFO?
We’ve seen actuaries move into chief risk officer and chief financial officer roles, as presidents of insurance and reinsurance companies as well as banks, and heading up analytics departments.