Actuary vs Investment Banker: 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.
Investment Banker
Advise corporations on capital raising, M&A, and strategic financial transactions.
Actuary earns more on average — the national median is $27,260/year (27%) higher than a Investment Banker. However, salaries vary significantly by city, employer, and experience level — see the city-by-city breakdown below.
Actuary vs Investment Banker — Salary by City
National median figures in USD across top cities.
| City | Actuary | Investment Banker | Difference |
|---|---|---|---|
| San Francisco, CA | $189,793 | $149,852 | Actuary +$39,941 |
| New York, NY | $158,465 | $121,600 | Actuary +$36,865 |
| Seattle, WA | $180,437 | $144,771 | Actuary +$35,666 |
| Austin, TX | $142,664 | $111,968 | Actuary +$30,696 |
| Chicago, IL | $140,783 | $110,184 | Actuary +$30,599 |
| Boston, MA | $172,745 | $137,220 | Actuary +$35,525 |
| London, UK | £102,352 | £80,088 | Actuary +$22,264 |
| Toronto, Canada | CA$170,449 | CA$138,977 | Actuary +$31,472 |
Frequently Asked Questions
Does a Actuary or Investment Banker earn more?+
A Actuary earns more on average. The national median salary for a Actuary is $130,000/year, compared to $102,740/year for a Investment Banker — a difference of $27,260 (27%).
Which has better career growth — Actuary or Investment Banker?+
Actuary roles are growing at 20% YoY while Investment Banker demand is growing at 8% YoY. Actuary has stronger near-term demand growth.
Can you switch from Actuary to Investment Banker?+
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 Investment Banker?+
Investment Banker has a lower AI automation risk (28% vs 45%). Based on Oxford Martin School and McKinsey 2023 analysis.