You are here

Best salary prospects

Actuaries usually do well when it comes to their pay slips. In the ranking of the best-paid professions in Germany, they regularly appear in the top 10.
Written on 8/4/20

Actuaries usually do well when it comes to their pay slips. In the ranking of the best-paid professions in Germany, they regularly appear in the top 10.
After a long and complex degree course, every graduate is probably looking forward to their first salary. Actuaries do particularly well when they check their bank balances. In the ranking of the best paid professions in Germany, actuaries are regularly in the top 10.

In the 2019 pay and benefits survey conducted by gehalt.de, the profession comes in 7th place with a median salary of 71,042 euros. And starting salaries are already good at between 50,149 and 68,618 euros, as the salary survey reports. This puts young actuaries at the top of the list of starting salaries. After more than 10 years of professional experience, their monthly gross income can then rise to up to 118,172 euros. In 2017, the German Association of Actuaries (DAV), together with Deloitte, surveyed its members and found average salaries ranged from 72,040 to 252,300 euros, depending on professional experience and the duties and responsibilities.

With these figures, actuaries are in good company in the financial sector. Related professional fields such as fund and asset management, risk management and management consultancy, jobs which are often also done by mathematicians, boast similar top salaries.

Incidentally, international salary prospects are also very good. The US Bureau of Labor Statistics calculated a median salary of 108,350 US dollars in May 2019 for the US market. The British actuarial association IFoA cites an average salary of £51,594 for an actuary with the prospect of over £200,000 for senior executives and it promotes the profession as one of the best-paid careers ever.

"Wherever you go in the world, you'll find that actuarial work is one of the highest paid careers."
(Institute and Faculty of Actuaries)

Sources:
https://aktuar.de/politik-und-presse/pressemeldungen/Seiten/Pressemeldun...
https://www2.deloitte.com/de/de/pages/human-capital/articles/dav-gehalts...
https://cdn.personalmarkt.de/cms/gehaltsatlas-2019.pdf 
https://gehaltsreporter.de/gehaelter-von-a-bis-z/banken-finanzdienstleis...
https://www.hays.de/documents/10192/118775/hays-studie-finance-gehaltsre...
https://www.investopedia.com/ask/answers/011315/whats-average-salary-act...
https://www.actuaries.org.uk/become-actuary/why-become-actuary/how-much-...