salaries as pension actuary

[Anonymous]

Hi, all,

I wonder what would be the appropriate salary range, say, in Philadelphia or New York, for an entry level (well, with a M.A., but no acturial experience) pension actuary with two exams taken. Thanks in advance. :smile:

[DW Simpson]

Our salary survey, http://www.dwsimpson.com/salary.html , indicates that with 1-2 years of experience and 2 courses passed. approximately 80% of actuaries are in the 46-58K range. If you extrapolate from there, if indeed by "exams taken" you're talking about "exams passed", an entry pension student with 2 exams would be in the mid to high forties, at least, in general. While we place a lot of entry level actuaries, we don't publish an explicit entry salary survey because it changes all the time based on demand. - Claude

[Anonymous]

Thanks, Claude. Yes, I do mean 2 exams passed with excellent scores, but with absolutely no actuarial experience though. I have been a financial analyst for two years before I persued a M.A. So in your opinion, what chance do I have if I negotiate for an above 50K salary?

[DW Simpson]

I think you have a shot, but I'd keep in mind that you don't want to price yourself out over a few thousand $, when over the long haul it won't really matter and your compensation will be tied to your exam progress and experience. With 2 exams before you're even being paid to take them, you've proven that you'll probably have good exam success with study support.

And companies may want to put any extra money into a signing bonus or relocation package, rather than raising your entry salary. It depends alot on the particular firm's established policies.