Career comparison
Actuary vs. Insurance Underwriter
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. $81,370), while insurance underwriters usually get to work faster (Moderate on-the-job training of training). Actuaries use math and statistics to measure risk and price insurance. Insurance underwriters decide whether to insure people and businesses, and on what terms.
Pay data: BLS OEWS, May 2025 · Outlook: BLS 2025–35 · Checked October 15, 2026
| Actuary | Insurance Underwriter | |
|---|---|---|
| Median pay | $130,000 ($62.50/hr) | $81,370 ($39.12/hr) |
| Pay range (10th–90th) | $78,570 – $215,100 | $55,530 – $145,160 |
| Job growth, 2025–35 | +9.2% (much faster than average) | -3.8% (a projected decline) |
| Openings per year | 1,500 | 6,800 |
| Typical entry education | Bachelor's degree | Bachelor's degree |
| Training time | Several years of exams while working | Moderate on-the-job training |
| Key credential | ASA or FSA | CPCU |
| Work setting | Actuaries work in offices, and many work remotely.. | Underwriters work in insurance company offices, and many work remotely.. |
What each job does
Actuary
- Analyze risk data
- Price insurance products
- Set reserves
- Value pension plans
- Build models
Insurance Underwriter
- Review applications
- Assess risk
- Set premiums and terms
- Approve or decline coverage
- Work with agents and brokers
How they’re similar
Both careers involve working with information, high-pay, remote-friendly work, 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 insurance underwriter if…
- I like analyzing risk
- I make decisions confidently
- I like rules with judgment
Still torn? Take the Actuary fit quiz and the Insurance Underwriter fit quiz, or the full Career Match Quiz.
Quick comparisons
Which pays more, actuary or insurance underwriter?
Actuaries earn more at the median: $130,000 versus $81,370 for insurance underwriters, based on BLS May 2025 data.
Which takes less time to train for?
Insurance Underwriters typically train faster (Moderate on-the-job training) 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 -3.8% for insurance underwriters.