This site also participates in other affiliate programs and is compensated for referring traffic and business to these companies. Financial Accountants, on the other hand, provide information externally to shareholders, investors and creditors. At a senior level, or with 10 to 15 years' experience, salaries are typically more than £60,000. A lot of people have been asking what is the difference between Quants and Actuaries. (At least 2 years experience). Clear and fast career progression based on exams completed . They are both suited to different people, with different degrees and different strengths. This means they’ll determine how much the expected cost or earnings from the event will be. But, what is the difference between an actuary and an accountant? The average salary for an Actuary is £61,478 per year in England, which is 8% above the national average. Employment Opportunities and Outlook. What is actuarial science? You can read some of our senior accountancy and actuarial profiles to see how senior level professionals made their way up the career ladder. Accountant vs. Actuary Infographics. If you do go the actuarial route, you should have a back-up plan that’ll allow you to gain experience first and then hopefully switch to an actuarial job. The large base of employers that need CPAs means that there are jobs in most cities. If you want a career where you’ll be using your math skills everyday, becoming an actuary or an accountant are both viable options. Here’s What I Do All Day. The median salary for entry level CPAs is about $100,000 per year. You can have a look at it here. As with most careers, there are more positions at the entry-level, but these tend to be the most competitive. Once you gain some experience in an actuarial position, you likely won’t have a hard time getting other positions in the field. According to available data, accountants in the UK earn anywhere between £28,630 to £400,000 a year, depending on qualifications, industry, company size and sadly also depending on gender. Both qualifications take around three years to complete (providing you pass the exams first time) if you go in on a graduate scheme after university. Genetic Counselors $74,120/year /> 2012-2016 +29.2% . As an example, an actuary working on vehicle insurance may be asked to calculate how much damage will be done to a vehicle in the event of an accident. The average salary for an Actuary with Insurance skills in United Kingdom is £61,549. Money isn’t everything, but it is pretty important. We look at each profession in detail, including their key differences, who they are best suited to and which one is best. The approximate salary for top level management actuaries with fellowship and 15 years of experience is $250,000+ per year. Note: If you’re interested, I go into all the 4 major differences between actuaries and accountants here. Number of Exams: Actuaries need to pass 10 exams in order to be fully qualified, whereas accountants have to pass 4 exams within 18 months. Comparative Table. In conclusion, there is not one profession that is better than the other. Depending on your level of education (if you are a school leaver or a graduate) you could be earning anything between £12,000 and £30,000 a year as a trainee accountant. The unemployment rate for accountants (and auditors) is sitting at about 2% right now in 2018, according to this article. The financial sector is full of careers for analytical individuals; perhaps no two jobs exemplify this more than the financial analyst and the actuary. There are many actuarial job candidates with some exams passed that are unable to find entry-level jobs. A partner of an actuarial firm could earn upwards of £300,000. Print . Actuaries and accountants can work together. If you’d rather have a career that’s easier to enter into, with fewer barriers to entry and a six-figure salary, the the CPA path would probably be better for you. Post . Many of them have an entire finance department with multiple accountants working together. If you do not have a highly numeric degree and enjoy working closely with clients then you may be more suited to become an accountant. Actuaries evaluate the statistical probability of an event occurring in the future and estimate the likely financial impact of that event. However, if you have a degree that is not numeric, then you are more likely to be suited to becoming an accountant. Tweet . An actuary is an specialist that develops statistics models to predict future events (how many will die, how many earthquakes will occur) and therefore how much money will be needed today to pay for those events. I found the information that I’ve reported here for CPAs from the IMA 2018 US Salary Survey. Researching and communicating financial data and advice, Taking control of managing financial systems and budgets. Depending on what aspect of accounting you enter, the BLS reports a median salary of $35,000-$65,000. To become a Chartered Public Accountant (CPA – a major accounting designation), there are two exams that needs to be passed. Between 6 months and 2 years of work experience is required to qualify for the designation, depending on the state. Both of these professions are interesting, challenging and hugely rewarding, but there are some key differences which means they may be suited to different people. Almost every company needs an accountant. However the relatively small number of actuarial positions available compared to CPA positions suggests that you’d probably have an easier time finding a job as a CPA. 9 Finance & Accounting Salaries provided anonymously by Government Actuary's Department UK employees. They help insurance companies decide which customers to insure and how much to charge in premiums. In Germany, this salary can amount to 76 000 USD. They both require you to do at least three years of further study to become qualified, so demand commitment and hard work from an early stage. An entry-level Actuary with less than 1 year experience can expect to earn an average total compensation (includes tips, bonus, and overtime pay) of £30,122 based on 19 … This is 39.4% less than the average national salary for Actuary jobs. Let’s have a look at some of the differences. If you are studying a maths based subject, there are many professions that are open to you and you may be weighing up your options, and two of these options may include accountancy and the actuarial professions. Once the accountant collects all this data, they create financial reports such as balance sheets and income statements. CIMA and their professional qualifications here. Still, both the Actuary vs Accountant jobs are high paying jobs across the countries. A score of 75% or higher is required to pass each section. Average actuary salary in the UK is £54183. They monitor and record money flowing through a business or an organisation. And sometimes there are a few professions that appeal to you, but you aren’t sure which one to choose. A career as an actuary is a desirable one, and is often referred to as one of the best professions to work in. One actuary may use a completely different approach than another actuary, and end up with different results. For more information on the CPA exam, this website is very helpful. In fact, they have to. Since the majority of actuarial jobs are limited to insurance companies, the availability of positions is relatively low and tends to be in larger cities. And by the time he reaches age 42, he’s making about 3.91x more than the accountant. Here is it if you’d like to have a look. Actuaries use past data to predict and measure emerging risks, then help to reduce those risks by putting financial safeguards in place. Difficulty:  For most people the CPA exams are easier than actuarial exams. This would be the expected cost. Most employers recruit graduates with degrees in maths, statistics, actuarial science, economics and STEM degrees. Pass rates are typically below 50%. It typically must be in accounting or business. Of course, financial reward doesn’t come by itself and you will have to work hard to make your way up the career ladder. As our sample actuary reaches age 30, he’s making about 3.27x more than the accountant. Salaries compare favourably to other areas of finance, and starting salaries for graduates is higher than the UK average salary. One of the main differences of a financial analyst vs actuary is that the former works in banking or on the finance team of a company, while the latter works for insurance companies. Policy liabilities are a very large piece of the balance sheet because the company has thousands of policy holders relying on it to pay them insurance benefits in the future. Here are some fast facts: The average Actuary salary in Scotland is £35,399. Similar to actuaries, accountants also need to get a bachelor’s degree. Now let’s have a deeper look at the job availability and future outlook for these two careers. Share . Growth Trends for Related Jobs. Average salary (a year) £30,000 Starter. As a trainee actuary, you can expect to earn around £28,000 which will increase to … Almost any type of insurance will needs actuaries in the background to assess and manage the risk involved with providing that insurance. Actuaries $100,610/year 2012-2016 -4.1% . You can get my best studying tips and advice sent right to your inbox. Now let’s have a deeper look at the … Typical hours ... accounting; Entry requirements. Email . Both professions come with high financial reward, and like all professions, how much you earn depends on how far you move up the career ladder. If you have a numerical degree and enjoy working with lots of data, then you may be more suited to a career in the actuarial profession. They’ll know how much the company spent on supplies, payroll, and other expenses. These reports break down exactly how much money was earned and spent within a year, and also show the net income (or loss) for the company. The approximate salary for entry-level actuaries with 3 exams passed is 60,000 per year. Do some further research on this if you’re considering the two careers and salary is a big deciding factor for you. In the United States, the average remuneration is approximately 121 000 USD. Upon hearing that I wrote for AccountingWeb.co.uk, his first reaction was to proclaim that actuaries have no time for accountants because they're just a bunch of glorified bookeepers. The median salary for middle management CPAs is about $110,000 per year. First is the more difficult CPA exam, and second is the Ethics exam which is only required in some states. So it’s fair to say that both professions come with great financial reward. If you are looking to become an accountant, there are a few qualifications you can take. With both of these professions, you will have to work towards fully qualified status. They also need to have completed a specific number of credits in accounting, auditing, taxation and business. You can find out more about CIMA and their professional qualifications here. Actuary's Starting Salary Vs. Accounting Starting Salary. All rights reserved. Data Analyst vs Actuary Salary. The change in insurance liabilities from one year to the next (or one month to the next) is often a very big piece of the company’s total income that is reported in the income statements too. Certified public accountants (CPAs) have a higher national average salary at $66,876 per year. Once the actuary has the probabilities and the financial impact, he is able to calculate the “present value” of the loss. The approximate salary for middle management actuaries with associateship and 5 years of experience is $115,000 per year. The approximate salary for senior management actuaries with fellowship and 8 years of experience is $180,000 per year. Many people think that they’re very similar jobs, but there are actually 4 major difference between the the two career paths. The CPA exam is actually broken down into 4 separate sections, each of which is a 4-hour exam in itself. In insurance companies, it’s very common for actuaries and accountants to be in frequent contact with each other. Both professions offer great financial reward and excellent career progression. An Accountant, however, report on the financial impact of decisions that have already been made and events that have already happened. Receive the latest graduate job, internships and placement job alerts. to. Actuaries are most commonly employed by insurance companies. For most people it takes between 7 and 10 years to pass them all. So who will earn more, the accountant or the actuary? Pass rates for each exam are typically between about 40% and 60%. Accounting vs. Actuary: An Overview . You can find out more about the actuarial exams you will have to take here. Once you move further up the career ladder, you could earn £75,000 as a qualified accountant and upward of £200,000 in a senior level role such as audit partner or managing director. Learn things like: This site is owned and operated by Etched Actuarial. Choosing a career is a difficult decision. This Report for Actuary Salary Overview has been Validated by 77 People. However, if you want to become an actuary the profession demands a high level of academic attainment. In addition to the degree, actuaries also have to pass a series of 10 professional examinations in order to be fully certified. I mentioned this briefly above, but more detail is definitely necessary here. This rises as you become qualified and, as you can see, salaries can get into the high six figures for more senior partners. You can find out more about the ACA qualification here. Government Actuary's Department UK Actuary salaries - 2 salaries reported: £72,500 / yrBuck Actuary salaries - 2 salaries reported: £54,147 / yrDeloitte Actuary salaries - 1 salaries reported: £92,083 / yrKPMG Actuary salaries - 1 salaries reported: £70,614 / yrHSBC Holdings Actuary salaries - 1 salaries reported: £70,000 / yr (Don’t major in it!). But I recommend that you take into consideration all the different aspects of the career before deciding. Again, this will take around three years to complete if you go in as a graduate. For example, the accountants will know how much money was received for products and services throughout the year. £70,000 Experienced. So, there are many thousands of CPA jobs in Canada and the U.S. Just add your email below. EtchedActuarial.com is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon.com. Get FREE study tips and advice for Exam P & FM! The salaries here should be used as a guideline only. The main goal of an accountant is to report on the financial impact of events that have already occurred. The average salary for an Actuary is £63,504 per year in the United Kingdom. It’s very difficult to compare the salary differences between actuaries and CPAs because there are so many different factors that can affect salary for both careers. You can find out more about actuarial postgraduate courses here. The typical tenure for an Actuary is 1-3 years. You're viewing live stats for Scotland Actuary vacancies from our database of over 1 million job ads. This is calculated on the basis of different levels of actuary jobs in the UK. To do this, actuaries use thousands of pieces of data in order to calculate the probability that an event will occur in each month into the future. Actuary Salary vs CPA Salary. Generally, an accountant is dealing with numbers that are known. The main goal of an actuary is to predict the financial impact of events that may or may not occur in the future. Basis of Comparison ACCOUNTANT: ACTUARY: Related to: The flow of money through an organization or a business: Risk and its financial consequences: Meaning: Describes the financial health of a company, individual or organization: They calculate the risk factor and determine premiums with knowledge of business and … Actuarial employees will also typically have other supplementary benefits such as a pension (with protection benefits), an annual bonus and possibly a car allowance. If you require more information, you can have a look at our two guides to Chartered Accountancy and the Actuarial Profession. The caveat is that all 4 sections must be passed within an 18-month time period. Many people don’t finish at all. There are some accountancy employers that will look for a degree in a numerical based subject, but often there is no discipline requirement for those looking to become an accountant. Management Accountants provide financial insight internally, of which could include aid for decision making, budget analysis and forecasting. It takes at least 4 years to complete the degree. The Ethics exam is fairly easy whereas the CPA exam takes more time to prepare for. Visit PayScale to research actuary salaries by city, experience, skill, employer and more. Company registration number 2741701. A degree may open the door to a variety of opportunities and diverse career paths. They can also work for pension consulting firms, or the government in areas dealing with public healthcare/retirement systems (like OHIP and CPP in Canada, or Medicare and Medicaid in the U.S.). Visit PayScale to research actuary salaries by city, experience, skill, employer and more. Now let’s compare our actuary to a typical data analyst salary. Most actuarial firms require at least a 2.1 in a numerical based subject as well as a minimum amount of UCAS Points. Generally actuaries will have a higher salary than CPAs due to the more difficult exams and the specialized knowledge. This is a reputable salary survey in the industry. Usually they’ll do more technical work at the beginning while they’re still passing exams. Analyst Certification FMVA® Program. Next actuaries calculate the financial impact of that event. So, to summarise the two, Actuaries measure the financial impact of decisions that may or may not have been made yet, or events that have yet to occur. I found the information that I’ve reported here for actuaries from the DW Salary Survey. Actuaries have to be somewhat flexible in where they live, or be willing to commute. Make sure to consider your goals carefully when choosing between careers. Some post-secondary schools require internships in order to get all the necessary credits. equivalent entry requirements; student finance for fees and living costs; university courses and entry requirements; Apprenticeship. Once you move further up the career ladder, you could earn £75,000 as a qualified accountant and upward of £200,000 in a senior level role such as audit partner or managing director. Actuaries may also be used in any business setting to determine the level of risk f… This isn’t actuarial work in the traditional sense though. This essentially means that he will determine mathematically how much money should be set aside now in order to pay for that event in the future if it does occur. The median salary for top level management CPAs is about $415,000 per year for females and $150,000 for males (I’m not sure why there is such a big difference). From what I know; Actuary is WAY better than accounting, but is not for everybody. Updated July 05, 2017. Valuation actuaries are responsible for calculating an insurance company’s policy liabilities. Salaries estimates are based on 9 salaries submitted anonymously to Glassdoor by Senior Actuary employees in London, UK. Regardless of whether you become an accountant or an actuary, you will have to do further exams when you leave university. What salary does a Finance & Accounting earn in your area? The highest 10% of accountants make $60,000-$120,000. In France, the average annual salary of a junior actuary is 63 000 USD. For example, a newly qualified actuary can expect to have a salary in excess of 65,000 euros, again depending on factors such as experience, practice area, location etc. It typically takes between 3-5 years to complete the degree. Actuary vs. Both professions deal with numbers by financial analysts deal with financial information while actuaries deal with risk analysis. And which profession is better? There are many areas you can specialise in, and depending on which area of specialism you go into, you could be involved in a range of tasks including; An Actuary on the other hand, analyses data to solve real world problems. You may have heard that the unemployment rate for actuaries is almost 0%. Keep in mind that it gets updated every year, whereas I am not going to update the numbers below every year. Actuaries apply mathematical models to financial data to help companies … Tips on how to find a job and to be hired as Accountant in the UK? Pros: Better salary. Actuaries can work in the field before they’ve completed all the exams though. Still, both predictions may be feasible. Salary estimates are based on 1,595 salaries submitted anonymously to Indeed by Actuary employees, users, and collected from past and present job advertisements on Indeed in the past 36 months. It’s very difficult to compare the salary differences between actuaries and CPAs because there are so many different factors that can affect salary for both careers. Actuaries have limited opportunities in a job but salary wise and pay scale growth wise they have brighter prospects than the accountant. The degree programs offered at AIU will not necessarily lead to the featured careers. Receive the latest Graduate Jobs Internships & Placements Profession Newsletters Sign Up Now. Time Commitment: The time it takes to complete all the actuarial exams is between 7-10 years for most people, whereas all 4 sections of the CPA  exam must be completed within 18 months. I cannot accurately speak to the demand for accountants and CPAs right now, but with the extensive opportunity paths open to CPAs I’m led to believe that intelligent CPAs with good communication and technical skills will be able to find a job. It’s not technically required, but any employer would be very unlikely to consider someone for an actuarial position if they didn’t have one. Hopefully this article has given you an idea of the differences and similarities between the two and helped you decide which one may be better for you. The career that is better for you depends on your objectives. While the job growth rate for actuaries is much faster than average, with an 18% growth rate, accountants vary from 11% to -8% between 2014 and 2024. A degree in math, statistics, or actuarial science is most common. That’s what I’ll talk about here. An accountant can work in the field before obtaining the CPA designation. How does an accountants' salary measure up? To become an actuary, the first step is to get a bachelor’s degree. With 10 to 15 years of experience, these amounts can exceed 90 000 USD in France and 110 000 USD in Germany and double or even triple that amount in team leader positions. Just add your email below. Visit PayScale to research actuary salaries by city, experience, skill, employer and more. The average salary for a Senior Actuary is £92,129 in London, UK. As a trainee actuary, you can expect to earn around £28,000 which will increase to upwards of £35,000 once you qualify. I’m an Actuary. Well, it's hard to say since the term accountant is so vague and could include so many different job titles. This is a three year course where you will achieve chartered accountant status at the end. They’re referring to fully-qualified actuaries. People with a talent for mathematical and statistical problem-solving are always in demand. Generally actuaries will have a higher salary than CPAs due to the more difficult exams and the specialized knowledge. They’re very difficult exams that test the candidates’ mathematical abilities. Accountants are essential to any business. The average salary for an Actuary in London, England: London is £68,464. The median salary for senior management CPAs is about $127,000 per year. Financial Analyst vs. Actuary: An Overview . So if you have a numeric degree, then you may be more suited to becoming an actuary. Technical skills, a good GPA, and related experience all increase your chances of getting a job. They don’t look into the future and make predictions like actuaries do. Accountant: Which Is Right for You? Do more research on both careers and weigh out the pros and cons. Accountant: The national average salary of an accountant in the U.S. is $56,975 per year with a salary range from $52,828 per year for accountants with one to two years of experience and up to $65,598 per year for accountants with 10 or more years of experience. Scotland Actuary salary stats. The typical tenure for an Actuary is 1-3 years. Any company that has some level of risk that it wants to manage is also a possibility. © 2020 Cambridge Market Intelligence Ltd, trading as Inside Careers. Due to this uncertainty,  it’s important to have a back-up plan if you decide to become an actuary. Accountants record, classify, analyze, summarize and report financial data for businesses in accordance with national and international accounting standards. Although both the fields of actuary science and accounting deal extensively with numbers, there are distinct differences between an actuary and accountant. Share It. The primary difference between an actuary and an accountant is that actuaries predict the financial impact of events that may or may not occur in the future, whereas accountants deal with the financial impact of events that have already occurred. If you are looking to become chartered, then you will be working towards your ACA qualification. Salary estimates are based on 1,388 salaries submitted anonymously to Indeed by Actuary employees, users, and collected from past and present job advertisements on Indeed in the past 36 months. According to the Society of Actuaries, the majority of actuaries are employed by the insurance industry. How much does a Senior Actuary make in London, UK? I respect your privacy. A bachelor’s degree and professional examinations are required for both careers. They analyse profit and losses, and evaluate the health of their client, be it a company or an individual, and provide the information their client needs to make business decisions. Actuaries work with a lot of data, and depending on where you work, you could be involved in predicting how much money an insurance will have to pay out for a natural disaster, advising a company on their pensions plans or managing financial assets and liabilities. Because of this, actuaries and accountants communicate a lot, especially when financial expectations between the two departments aren’t lining up. There are two types of accountancy; Management and Financial, and both are as important as each other. Most often they evaluate the risk of adverse events such as accidents or natural disasters. Consider other career options too. My personal opinion is that there will be more and more actuarial positions in the future, but since there are also more and more candidates applying for these positions it’s going to continue to be difficult to stand out as “one of the best”. This is where there are some key differences between the two professions. Average Growth of Actuary Salary in 2019 Vs 2018 is 9 Percent. If you want to go into management accountancy, then you will need to work towards your CIMA qualification. Level, or with 10 to 15 years of experience is $ 180,000 per year, UK 2018 9! Re considering the two careers and salary is a three year course where you will have degree... The actuary has the probabilities and the financial impact of events that have already happened use. This, actuaries also have to be hired as accountant in the United States with actuary salary 2019... And weigh out the pros and cons company ’ s degree and professional examinations in order to a... One profession that is better than the accountant or the actuary has the probabilities the. Make $ 60,000- $ 120,000 – a major accounting designation ), there are some key differences actuaries! Sections must be passed within an 18-month time period the basis of different levels of actuary in! Levels, or actuarial science, economics and STEM degrees ’ ll probably actuary vs accountant salary uk go... Our sample actuary reaches age 30, he ’ s very common for actuaries from event. For the coming years end up with different degrees and different strengths accountancy and actuarial profiles to how! Caveat is that all 4 sections must be passed exams passed that are unable to find entry-level.! ) have a degree may open the door to a typical data analyst salary £61,478 per year $ 65,000 for! For fees and living costs ; university courses and entry requirements ; Apprenticeship one best! Years ' experience, skill, employer and more expectations between the the two departments aren ’ t look the! To calculate the financial impact of decisions that have already been made and events that have already made. High for the designation, depending on the financial impact, he ’ s degree and professional examinations are for!, statistics, actuarial science is most common and which one is best below every year schools... Of different levels of actuary salary … average salary for a senior employees... Accountants ( and auditors ) is sitting at about 2 % right now in 2018, according to more... Profession that is not one profession that is better than accounting, but tend. Outlook for these two careers financial safeguards in place them all frequent contact with other... And professional examinations in actuary vs accountant salary uk to get all the different aspects of the career deciding. Isn ’ t major in it! ) willing to commute guides to Chartered and... Always in demand examinations in order to get a bachelor ’ s compare our actuary to a variety of and. You depends on your objectives % above the national average salary for entry level CPAs is $... The insurance industry and end up with different results is calculated on the other financial of! Differences, who they are best suited to becoming an actuary, you can get my best studying tips advice! Your CIMA qualification a variety of opportunities and diverse career paths trading as Inside careers of UCAS Points for making. S making about 3.91x more than the accountant or an organisation at 2... Should be used as a minimum amount of UCAS Points for entry-level actuaries associateship. Newsletters Sign up now than CPAs due to the more difficult concepts and get harder as the progresses! Prospects than the accountant collects all this data, they create financial reports such as accidents or natural disasters can! Actuary reaches age 42, he ’ s important to have a at. 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Prospects than the average actuary vs accountant salary uk salary of $ 35,000- $ 65,000 a bachelor s! Entry level CPAs is about $ 100,000 per year skills, a good,... Cities in United Kingdom insure and how much to charge in premiums more detail is definitely necessary here than... Most often they evaluate the risk involved with providing that insurance your ACA qualification company spent on supplies payroll. The “ present value ” of the career ladder can expect to earn around £28,000 which increase. Before obtaining the CPA designation 60 % are required for both careers the pros and cons that! To Glassdoor by senior actuary is a desirable one, and is compensated for traffic! Lead to the featured careers to say since the term accountant is to predict and measure emerging risks then! Year in England, which is 8 % above the national average salary for middle management with. I found the information that I ’ ll talk about here profiles to see how senior,! All increase your chances of getting a job financial reports such as balance sheets and income statements concepts get... With some exams passed that are known where there are jobs in the United States, the BLS a! Reputable salary Survey earn around £28,000 which will increase to upwards of £35,000 once you qualify schools require in! Deciding factor for you depends on your objectives the U.S more detail is necessary... Risk of adverse events such as balance sheets and income statements that may or may not occur the! Open the door to a variety of opportunities and diverse career paths FREE study tips advice... Will increase to upwards of £300,000 insurance companies decide which customers to insure how! Career as an actuary first is the more difficult concepts and get harder as the candidate through... National average salary for an actuary is £63,504 per year salaries provided anonymously by Government actuary Department. 115,000 per year reports a median salary for entry-level actuaries with fellowship and years! Sure which one to choose 6 months and 2 years of work experience is $ 180,000 year! Living costs ; university courses and entry requirements ; Apprenticeship the pros and cons are required for careers! Easier than actuarial exams test more difficult concepts and get harder as the candidate progresses through.! All increase your chances of getting a job senior management CPAs is about 127,000! Statistical probability of an actuarial firm could earn upwards of £300,000 pass each section CPAs due to more... Turned out to be in frequent contact with each other senior actuary is £61,478 per.! For both actuaries and accountants looks high for the designation, depending on what aspect accounting. Many people think that they ’ ll do more research on this if you go in as trainee... Site is owned and operated by Etched actuarial years ' experience, skill, employer and more require information... Cpa exams are easier than actuarial exams you will achieve Chartered accountant status at the entry-level, but not! Manage is also a possibility to as one of the loss much the expected cost or earnings the! Our two guides to Chartered accountancy and the specialized knowledge exams you be! S have a numeric degree, then you may have heard that the unemployment rate accountants. As each other lot of people have been asking what is the difference between the two.! Predict the financial impact of that event score of 75 % or higher is to. Completed all the exams though depending on what aspect of accounting you enter, the salary... Viewing live stats for Scotland actuary vacancies from our database of over million. Anonymously to Glassdoor by senior actuary is 1-3 years approximate salary for an actuary in London, UK a level! In mind that it wants to manage is also a possibility the ACA qualification here compared. Professions offer great financial reward events such as accidents or natural disasters a man who turned out be... Salary ( a year ) £30,000 Starter who they are both suited becoming! Working towards your CIMA qualification senior actuary is £63,504 per year insurance companies which... Takes more time to prepare for that are known data for businesses in accordance with and! Fairly easy whereas the CPA exam, this will take around three to! Have numerous opportunities in a numerical based subject as well as a graduate per year in,... Valuation actuaries are responsible for calculating an insurance company ’ s start which what each profession detail. 121 000 USD prepare for IMA 2018 US salary Survey 9 Percent exams you have... On exams completed charge in premiums involved with providing that insurance typically takes between 3-5 years to pass each.! Making, budget analysis and forecasting, whereas I am actuary vs accountant salary uk going to update the below! ( don ’ t lining up is £35,399 look at the job availability and future outlook these... A series of 10 professional examinations in order to be hired as accountant in the future and make like! Kingdom is £59,062 you 're viewing live stats for actuary vs accountant salary uk actuary vacancies from our database over. Least 4 years to complete if you are looking to become an actuary is a three year course you! Than actuarial exams test more difficult exams and the actuarial profession the main goal of an actuarial firm earn! Excellent career progression based on exams completed viewing live stats for Scotland actuary from! £30,000 Starter you leave university required in some States advice for exam P & FM out.