Portfolio Manager vs Actuary: Which Pays More?
Side-by-side salary comparison by city, experience level, and career growth outlook. Data reflects current market rates.
Portfolio Manager
Manage investment portfolios to maximise returns for clients.
Actuary
Use statistics and mathematics to assess financial risk in insurance and finance.
Actuary earns more on average — the national median is $27,260/year (27%) higher than a Portfolio Manager. However, salaries vary significantly by city, employer, and experience level — see the city-by-city breakdown below.
Portfolio Manager vs Actuary — Salary by City
National median figures in USD across top cities.
| City | Portfolio Manager | Actuary | Difference |
|---|---|---|---|
| San Francisco, CA | $151,713 | $189,793 | Portfolio $38,080 |
| New York, NY | $123,694 | $158,465 | Portfolio $34,771 |
| Seattle, WA | $146,467 | $180,437 | Portfolio $33,970 |
| Austin, TX | $113,384 | $142,664 | Portfolio $29,280 |
| Chicago, IL | $109,474 | $140,783 | Portfolio $31,309 |
| Boston, MA | $136,585 | $172,745 | Portfolio $36,160 |
| London, UK | £78,248 | £102,352 | Portfolio $24,104 |
| Toronto, Canada | CA$138,044 | CA$170,449 | Portfolio $32,405 |
Frequently Asked Questions
Does a Portfolio Manager or Actuary earn more?+
A Actuary earns more on average. The national median salary for a Portfolio Manager is $102,740/year, compared to $130,000/year for a Actuary — a difference of $27,260 (27%).
Which has better career growth — Portfolio Manager or Actuary?+
Portfolio Manager roles are growing at 12% YoY while Actuary demand is growing at 20% YoY. Actuary has stronger near-term demand growth.
Can you switch from Portfolio Manager to Actuary?+
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 — Portfolio Manager or Actuary?+
Portfolio Manager has a lower AI automation risk (42% vs 45%). Based on Oxford Martin School and McKinsey 2023 analysis.