Actuary vs Mortgage 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.
Mortgage Banker
Originate and process mortgage loans for homebuyers and real estate investors.
Actuary earns more on average — the national median is $57,483/year (79%) higher than a Mortgage Banker. However, salaries vary significantly by city, employer, and experience level — see the city-by-city breakdown below.
Actuary vs Mortgage Banker — Salary by City
National median figures in USD across top cities.
| City | Actuary | Mortgage Banker | Difference |
|---|---|---|---|
| San Francisco, CA | $189,793 | $104,741 | Actuary +$85,052 |
| New York, NY | $158,465 | $87,738 | Actuary +$70,727 |
| Seattle, WA | $180,437 | $101,754 | Actuary +$78,683 |
| Austin, TX | $142,664 | $79,122 | Actuary +$63,542 |
| Chicago, IL | $140,783 | $78,874 | Actuary +$61,909 |
| Boston, MA | $172,745 | $96,439 | Actuary +$76,306 |
| London, UK | £102,352 | £56,974 | Actuary +$45,378 |
| Toronto, Canada | CA$170,449 | CA$95,718 | Actuary +$74,731 |
Frequently Asked Questions
Does a Actuary or Mortgage Banker earn more?+
A Actuary earns more on average. The national median salary for a Actuary is $130,000/year, compared to $72,517/year for a Mortgage Banker — a difference of $57,483 (79%).
Which has better career growth — Actuary or Mortgage Banker?+
Actuary roles are growing at 20% YoY while Mortgage Banker demand is growing at 4% YoY. Actuary has stronger near-term demand growth.
Can you switch from Actuary to Mortgage 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 Mortgage Banker?+
Mortgage Banker has a lower AI automation risk (40% vs 45%). Based on Oxford Martin School and McKinsey 2023 analysis.