Actuary vs Financial Planner (CFP): Which Pays More?
Side-by-side salary comparison by city, experience level, and career growth outlook. Data reflects current market rates.
Actuary
Use statistics and mathematics to assess financial risk in insurance and finance.
Financial Planner (CFP)
Provide holistic financial planning for individuals and families across all life stages.
Actuary earns more on average — the national median is $46,606/year (56%) higher than a Financial Planner (CFP). However, salaries vary significantly by city, employer, and experience level — see the city-by-city breakdown below.
Actuary vs Financial Planner (CFP) — Salary by City
National median figures in USD across top cities.
| City | Actuary | Financial Planner (CFP) | Difference |
|---|---|---|---|
| San Francisco, CA | $189,793 | $122,237 | Actuary +$67,556 |
| New York, NY | $158,465 | $102,449 | Actuary +$56,016 |
| Seattle, WA | $180,437 | $119,967 | Actuary +$60,470 |
| Austin, TX | $142,664 | $93,002 | Actuary +$49,662 |
| Chicago, IL | $140,783 | $88,809 | Actuary +$51,974 |
| Boston, MA | $172,745 | $108,411 | Actuary +$64,334 |
| London, UK | £102,352 | £65,795 | Actuary +$36,557 |
| Toronto, Canada | CA$170,449 | CA$110,012 | Actuary +$60,437 |
Frequently Asked Questions
Does a Actuary or Financial Planner (CFP) earn more?+
A Actuary earns more on average. The national median salary for a Actuary is $130,000/year, compared to $83,394/year for a Financial Planner (CFP) — a difference of $46,606 (56%).
Which has better career growth — Actuary or Financial Planner (CFP)?+
Actuary roles are growing at 20% YoY while Financial Planner (CFP) demand is growing at 15% YoY. Actuary has stronger near-term demand growth.
Can you switch from Actuary to Financial Planner (CFP)?+
Yes. Many professionals transition between these roles, especially since both are in the same category. Shared skills include: analytical thinking, communication, and industry knowledge.
Which is harder to automate — Actuary or Financial Planner (CFP)?+
Financial Planner (CFP) has a lower AI automation risk (28% vs 45%). Based on Oxford Martin School and McKinsey 2023 analysis.