Actuary vs Insurance Underwriter: 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.
Insurance Underwriter
Evaluate insurance applications and set policy terms and premiums.
Actuary earns more on average — the national median is $48,630/year (60%) higher than a Insurance Underwriter. However, salaries vary significantly by city, employer, and experience level — see the city-by-city breakdown below.
Actuary vs Insurance Underwriter — Salary by City
National median figures in USD across top cities.
| City | Actuary | Insurance Underwriter | Difference |
|---|---|---|---|
| San Francisco, CA | $189,793 | $116,321 | Actuary +$73,472 |
| New York, NY | $158,465 | $97,453 | Actuary +$61,012 |
| Seattle, WA | $180,437 | $112,876 | Actuary +$67,561 |
| Austin, TX | $142,664 | $91,022 | Actuary +$51,642 |
| Chicago, IL | $140,783 | $86,961 | Actuary +$53,822 |
| Boston, MA | $172,745 | $107,567 | Actuary +$65,178 |
| London, UK | £102,352 | £63,807 | Actuary +$38,545 |
| Toronto, Canada | CA$170,449 | CA$109,558 | Actuary +$60,891 |
Frequently Asked Questions
Does a Actuary or Insurance Underwriter earn more?+
A Actuary earns more on average. The national median salary for a Actuary is $130,000/year, compared to $81,370/year for a Insurance Underwriter — a difference of $48,630 (60%).
Which has better career growth — Actuary or Insurance Underwriter?+
Actuary roles are growing at 20% YoY while Insurance Underwriter demand is growing at 5% YoY. Actuary has stronger near-term demand growth.
Can you switch from Actuary to Insurance Underwriter?+
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 Insurance Underwriter?+
Actuary has a lower AI automation risk (45% vs 82%). Based on Oxford Martin School and McKinsey 2023 analysis.