Actuary vs Risk Manager: 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.
Risk Manager
Identify, assess, and mitigate financial and operational risks for organisations.
Actuary earns more on average — the national median is $27,260/year (27%) higher than a Risk Manager. However, salaries vary significantly by city, employer, and experience level — see the city-by-city breakdown below.
Actuary vs Risk Manager — Salary by City
National median figures in USD across top cities.
| City | Actuary | Risk Manager | Difference |
|---|---|---|---|
| San Francisco, CA | $189,793 | $145,592 | Actuary +$44,201 |
| New York, NY | $158,465 | $120,107 | Actuary +$38,358 |
| Seattle, WA | $180,437 | $148,730 | Actuary +$31,707 |
| Austin, TX | $142,664 | $113,068 | Actuary +$29,596 |
| Chicago, IL | $140,783 | $113,339 | Actuary +$27,444 |
| Boston, MA | $172,745 | $131,487 | Actuary +$41,258 |
| London, UK | £102,352 | £78,848 | Actuary +$23,504 |
| Toronto, Canada | CA$170,449 | CA$137,878 | Actuary +$32,571 |
Frequently Asked Questions
Does a Actuary or Risk Manager 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 Risk Manager — a difference of $27,260 (27%).
Which has better career growth — Actuary or Risk Manager?+
Actuary roles are growing at 20% YoY while Risk Manager demand is growing at 16% YoY. Actuary has stronger near-term demand growth.
Can you switch from Actuary to Risk Manager?+
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 Risk Manager?+
Risk Manager has a lower AI automation risk (40% vs 45%). Based on Oxford Martin School and McKinsey 2023 analysis.