Career comparison
Actuary vs. Financial Risk Specialist
Side-by-side pay, training, growth and day-to-day duties to help you choose between two related careers.
Actuaries earn more at the median ($130,000 vs. $117,330), while financial risk specialists usually get to work faster (Entry-level with strong quantitative skills of training). Actuaries use math and statistics to measure risk and price insurance. Financial risk specialists measure and manage the risks that could cost an organization money.
Pay data: BLS OEWS, May 2025 · Outlook: BLS 2025–35 · Checked October 15, 2026
| Actuary | Financial Risk Specialist | |
|---|---|---|
| Median pay | $130,000 ($62.50/hr) | $117,330 ($56.41/hr) |
| Pay range (10th–90th) | $78,570 – $215,100 | $64,820 – $196,110 |
| Job growth, 2025–35 | +9.2% (much faster than average) | +7.4% (much faster than average) |
| Openings per year | 1,500 | 4,800 |
| Typical entry education | Bachelor's degree | Bachelor's degree |
| Training time | Several years of exams while working | Entry-level with strong quantitative skills |
| Key credential | ASA or FSA | FRM |
| Work setting | Actuaries work in offices, and many work remotely.. | Risk specialists work in offices at banks, investment firms and corporations.. |
What each job does
Actuary
- Analyze risk data
- Price insurance products
- Set reserves
- Value pension plans
- Build models
Financial Risk Specialist
- Measure market and credit risk
- Build risk models
- Run stress tests
- Monitor risk limits
- Recommend hedges
How they’re similar
Both careers involve working with information, high-pay, in-demand, and desk work. Both are part of the business & office field, so many skills transfer between them.
Which should you choose?
Choose actuary if…
- I love math
- I’m persistent
- I like predicting outcomes
Choose financial risk specialist if…
- I love numbers and models
- I think about what could go wrong
- I can explain risk clearly
Still torn? Take the Actuary fit quiz and the Financial Risk Specialist fit quiz, or the full Career Match Quiz.
Quick comparisons
Which pays more, actuary or financial risk specialist?
Actuaries earn more at the median: $130,000 versus $117,330 for financial risk specialists, based on BLS May 2025 data.
Which takes less time to train for?
Financial Risk Specialists typically train faster (Entry-level with strong quantitative skills) than actuaries (Several years of exams while working).
Which career has better job growth?
BLS projects actuaries to grow +9.2% from 2025–35, compared with +7.4% for financial risk specialists.