A person working as Actuarial Analyst in Northern Ireland typically earns around 92,100 GBP. Salaries range from 47,900 GBP (lowest) to 141,000 GBP (highest).
This is the average salary including housing, transport, and other benefits. Actuarial Analyst salaries in Northern Ireland vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.
Minimum Salary 47,900 GBP |
Median 83,700 GBP |
Maximum 141,000 GBP |
Salaries for the position Actuarial Analyst in Northern Ireland range from 47,900 GBP (starting salary) to 141,000 GBP (maximum salary). It should be noted that the given figure is not the legally mandated minimum wage; rather, it represents the lowest figure reported in a salary survey that included thousands of participants and professionals from all regions of the country.
With a median salary of 83,700 GBP, half of the professionals who work as Actuarial Analyst in Northern Ireland earn less than this amount, and the other half earn more. The median salary denotes the middle value of salaries. Ideally, you would want to belong to the group earning more than the median salary, located on the right side of the salary distribution graph.
The median is closely associated with two other values known as the 25th and 75th percentiles. By examining the salary distribution chart, it can be determined that 25% of professionals employed as Actuarial Analyst in Northern Ireland earn less than 69,400 GBP, while 75% earn more. Similarly, the chart shows that 75% earn less than 95,000 GBP while 25% earn more.
To provide a better understanding of expected salaries, we categorized the frequently occurring salaries into different ranges. This approach provides a more precise representation of salary distribution for the job title Actuarial Analyst in Northern Ireland compared to simply calculating the average. The majority of reported salaries, approximately 65%, fall within the range of 54,200 GBP to 74,300 GBP. About 20% of salaries are below the 54,200 GBP mark, while 10% fall within the range of 74,300 GBP to 83,400 GBP. Only 5% of individuals have salaries exceeding 83,400 GBP.
0 - 2 Years | 54,400 GBP | |
2 - 5 Years | +34% | 73,000 GBP |
5 - 10 Years | +30% | 94,800 GBP |
10 - 15 Years | +21% | 115,000 GBP |
15 - 20 Years | +9% | 126,000 GBP |
20+ Years | +5% | 132,000 GBP |
The experience level is the most important factor in determining the salary. Naturally, the more years of experience the higher the wage. We broke down salaries by experience level for people working as Actuarial Analyst and this is what we found.
Employees with less than two years of experience earn approximately 54,400 GBP.
While someone with an experience level between two and five years is expected to earn 73,000 GBP, 34% more than someone with less than two year's experience.
Moving forward, an experience level between five and ten years lands a salary of 94,800 GBP, 30% more than someone with two to five years of experience.
Additionally, professionals whose expertise span anywhere between ten and fifteen years get a salary equivalent to 115,000 GBP, 21% more than someone with five to ten years of experience.
If the experience level is between fifteen and twenty years, then the expected wage is 126,000 GBP, 9% more than someone with ten to fifteen years of experience.
Lastly, employees with more than twenty years of professional experience get a salary of 132,000 GBP, 5% more than people with fifteen to twenty years of experience.
Certificate or Diploma | 64,600 GBP | |
Bachelor's Degree | +52% | 98,100 GBP |
Master's Degree | +42% | 139,000 GBP |
We all know that higher education equals a bigger salary, but how much more money can a degree add to your income? We broke down salaries by education level for the position Actuarial Analyst in order to make a comparison.
Employees at this education level have an average salary of 64,600 GBP.
At this level, the average salary becomes 98,100 GBP, 52% more than the previous level.
At this level, the average salary becomes 139,000 GBP, 42% more than the previous level.
A Master's degree program or any post-graduate program in United Kingdom costs anywhere from 29,700 GBP to 89,100 GBP and lasts approximately two years. That is quite an investment.
You can't really expect any salary increases during the study period, assuming you already have a job. In most cases, a salary review is conducted once education is completed and the degree has been attained.
Many people pursue higher education as a tactic to switch to a higher-paying job. The numbers seem to support the theory. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.
If you can afford the costs of higher education, the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.
Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? For the people who work as Actuarial Analyst in United Kingdom, the average difference between the salary of male and female employees is 5%.
Male | 95,300 GBP | |
Female | -5% | 90,900 GBP |
Individuals working as Actuarial Analyst in United Kingdom are likely to observe a salary increase of approximately % every months. The national average annual increment for all professions combined is 9% granted to employees every 15 months.
The term Annual Salary Increase usually refers to the increase in 12 calendar month period, but because it is rare that people get their salaries reviewed exactly on the one-year mark, it is more meaningful to know the frequency and the rate at the time of the increase.
The annual salary Increase in a calendar year (12 months) can be easily calculated as follows: Annual Salary Increase = Increase Rate x 12 / Increase Frequency
Not all compensation increases are reflected directly in the salary. Some companies offer upgraded packages to their staff instead of cash money. The figures displayed here account only for direct increments to the base salary.
100% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while % said that they received at least one form of monetary bonus.
Those who got bonuses reported rates ranging from % to % of their annual salary.
Received Bonus | % | |
No Bonus | 100% |
The most standard form of bonus, where the employee is awarded based on their exceptional performance.
Company Performance BonusesOccasionally, some companies like to celebrate excess earnings and profits with their staff collectively in the form of bonuses that are granted to everyone. The amount of the bonus will probably be different from person to person depending on their role within the organization.
Goal-Based BonusesGranted upon achieving an important goal or milestone.
Holiday / End of Year BonusesThese types of bonuses are given without a reason and usually resemble an appreciation token.
People tend to confuse bonuses with commissions. A commission is a prefixed rate at which someone gets paid for items sold or deals completed while a bonus is in most cases arbitrary and unplanned.
The main two types of jobs | |
Revenue Generators | Supporting Cast |
Employees that are directly involved in generating revenue or profit for the organization. Their field of expertise usually matches the type of business. | Employees that support and facilitate the work of revenue generators. Their expertise is usually different from that of the core business operations. |
Example: | Example: |
Revenue generators usually get more and higher bonuses, higher salaries, and more frequent salary increments. The reason is quite simple: it is easier to quantify your value to the company in monetary terms when you participate in revenue generation.
Top management personnel and senior employees naturally exhibit higher bonus rates and frequencies than juniors. This is very predictable due to the inherent responsibilities of being higher in the hierarchy. People in top positions can easily get double or triple bonus rates than employees down the pyramid.
The hourly wage is the salary paid in one worked hour. Usually, jobs are classified into two categories: salaried jobs and hourly jobs. Salaried jobs pay a fixed amount regardless of the hours worked. Hourly jobs pay per worked hour. To convert salary into hourly wage the above formula is used (assuming 5 working days in a week and 8 working hours per day which is the standard for most jobs). The hourly wage calculation may differ slightly depending on the worked hours per week and the annual vacation allowance. The figures mentioned above are good approximations and are considered to be the standard. One major difference between salaried employees and hourly paid employees is overtime eligibility. Salaried employees are usually exempt from overtime as opposed to hourly paid staff.
The minimum pay rate per hour for people working as Actuarial Analyst in Northern Ireland is 23 GBP. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.
Job Title | Average Salary |
Insurance | -100% | |
Actuarial Analyst | 92,100 GBP | +0% |
Actuarial Assistant | 60,500 GBP | -34% |
Actuarial Specialist | 63,300 GBP | -31% |
Actuary | 84,500 GBP | -8% |
Adjustment Insurance Clerk | 24,800 GBP | -73% |
Assistant Broker | 41,600 GBP | -55% |
Assistant Claims Manager | 74,500 GBP | -19% |
Associate Insurance Representative | 33,500 GBP | -64% |
Auditing Insurance Manager | 102,000 GBP | +11% |
Blockchain Insurance Auditor | 58,400 GBP | -37% |
Broker | 63,700 GBP | -31% |
Claim Advocacy Professional | 64,400 GBP | -30% |
Claims Adjuster | 23,900 GBP | -74% |
Claims Analyst | 34,500 GBP | -63% |
Claims Examiner | 35,600 GBP | -61% |
Claims Manager | 90,100 GBP | -2% |
Claims Processor | 24,500 GBP | -73% |
Claims Representative | 28,600 GBP | -69% |
Claims Resolution Specialist | 71,400 GBP | -22% |
Claims Supervisor | 67,300 GBP | -27% |
Complaints Specialist | 58,600 GBP | -36% |
Compliance Examiner | 61,400 GBP | -33% |
Compliance Officer | 50,700 GBP | -45% |
Compliance Reviewer | 62,500 GBP | -32% |
Consultant | 64,700 GBP | -30% |
Drone Claims Adjuster | 28,800 GBP | -69% |
Eligibility Interviewer | 69,300 GBP | -25% |
Eligibility Specialist | 63,600 GBP | -31% |
Insurance Account Manager | 84,600 GBP | -8% |
Insurance Accounts Executive | 72,800 GBP | -21% |
Insurance Adjuster | 64,400 GBP | -30% |
Insurance Agent | 39,500 GBP | -57% |
Insurance Analyst | 64,000 GBP | -30% |
Insurance Appraiser | 64,300 GBP | -30% |
Insurance Claims Clerk | 24,600 GBP | -73% |
Insurance Compliance Officer | 72,300 GBP | -21% |
Insurance Data Scientist | 60,900 GBP | -34% |
Insurance Examiner | 62,500 GBP | -32% |
Insurance Fraud Investigator | 56,700 GBP | -38% |
Insurance Investigator | 59,900 GBP | -35% |
Insurance Manager | 112,000 GBP | +22% |
Insurance Operations Manager | 114,000 GBP | +24% |
Insurance Policy Processing Clerk | 24,400 GBP | -74% |
Insurance Pricing Assistant | 52,800 GBP | -43% |
Insurance Product Manager | 74,600 GBP | -19% |
Insurance Program Manager | 89,300 GBP | -3% |
Insurance Project Manager | 82,500 GBP | -10% |
Insurance Quality Assurance Agent | 55,000 GBP | -40% |
Insurance Sales Agent | 40,300 GBP | -56% |
Insurance Sales Director | 105,000 GBP | +14% |
Insurance Sales Manager | 85,900 GBP | -7% |
Insurance Sales Representative | 32,900 GBP | -64% |
Insurance Team Leader | 71,600 GBP | -22% |
Insurance Underwriter | 47,700 GBP | -48% |
Insurtech Analyst | 60,400 GBP | -34% |
Loss Control Specialist | 63,100 GBP | -31% |
Loss Prevention Investigator | 70,100 GBP | -24% |
Loss Prevention Manager | 91,500 GBP | -1% |
Loss Prevention Specialist | 69,100 GBP | -25% |
Marine Underwriter | 50,500 GBP | -45% |
Medical Auditor | 66,100 GBP | -28% |
Monitoring and Performance Officer | 47,900 GBP | -48% |
Parametric Insurance Specialist | 63,000 GBP | -32% |
Payment Services Specialist | 67,600 GBP | -27% |
Peer-to-Peer Insurance Manager | 77,500 GBP | -16% |
Policy Change Director | 105,000 GBP | +14% |
Policy Change Supervisor | 67,800 GBP | -26% |
Policy Change Technician | 31,400 GBP | -66% |
Risk Analyst | 77,000 GBP | -16% |
Risk Management Director | 125,000 GBP | +36% |
Risk Management Supervisor | 83,100 GBP | -10% |
Risk Manager | 127,000 GBP | +38% |
Risk Modeling Manager | 119,000 GBP | +29% |
Social Media Risk Analyst | 66,600 GBP | -28% |
Title Insurance Typist | 58,600 GBP | -36% |
Training Manager | 72,500 GBP | -21% |
Underwriting Assistant | 34,300 GBP | -63% |
Where can you get paid more, working in a private company or the government? The difference between the public or government sector salaries and the private sector salaries in United Kingdom is 4% on average across all career fields.
Private Sector | 69,700 GBP | |
Public Sector | +4% | 72,800 GBP |
A good and competitive compensation would range anywhere between 83,700 GBP and 95,000 GBP. This is a very rough estimate. Experience and education play a very huge part in the final earnings.
All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salary after tax for every career.
The base salary for a careers like Actuarial Analyst in Northern Ireland ranges from 47,900 GBP to 69,400 GBP. The base salary depends on many factors including experience and education. It is not easy to provide a figure with very little information, so take this range with a grain of salt.
Both are indicators. If your salary is higher than both the average and the median then you are doing very well. If your salary is lower than both, then many people earn more than you and there is plenty of room for improvement. If your wage is between the average and the median, then things can be a bit complicated. We wrote a guide to explain all about the different scenarios. How to compare your salary
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