Salary distribution
Where Richmond actuaries fall on the wage curve.
Distribution not available
The Bureau of Labor Statistics suppresses wage percentiles for this occupation and state when the surveyed cell has too few employers to publish without revealing individual firm pay. National figures and adjacent states below remain a useful reference.
Typical entry
Education
Bachelor's degree
Experience
None
On-the-job training
Long-term on-the-job training
Top skills (O*NET)
- 4.9 / 5
Mathematics
Knowledge
- 4.6 / 5
Mathematical Reasoning
Ability
- 4.3 / 5
Judgment and Decision Making
Technical
- 4.3 / 5
Reading Comprehension
Basic skill
- 4.3 / 5
Mathematics
Basic skill
- 4.3 / 5
Critical Thinking
Cross-functional
- 4.1 / 5
Inductive Reasoning
Ability
- 4.1 / 5
Number Facility
Ability
Common tasks (O*NET)
- 01
Ascertain premium rates required and cash reserves and liabilities necessary to ensure payment of future benefits.
- 02
Collaborate with programmers, underwriters, accounts, claims experts, and senior management to help companies develop plans for new lines of business or improvements to existing business.
- 03
Analyze statistical information to estimate mortality, accident, sickness, disability, and retirement rates.
- 04
Design, review, and help administer insurance, annuity and pension plans, determining financial soundness and calculating premiums.
- 05
Determine, or help determine, company policy, and explain complex technical matters to company executives, government officials, shareholders, policyholders, or the public.
- 06
Construct probability tables for events such as fires, natural disasters, and unemployment, based on analysis of statistical data and other pertinent information.
- 07
Provide advice to clients on a contract basis, working as a consultant.
- 08
Determine equitable basis for distributing surplus earnings under participating insurance and annuity contracts in mutual companies.
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Explore coursesFrequently asked questions
- What is the median salary for Actuaries in Richmond, Virginia?
- According to BLS Occupational Employment and Wage Statistics, the median annual wage for Actuaries in the Richmond metropolitan area is $130,360.
- Does Richmond pay more than the Virginia state average for Actuaries?
- The Richmond metro median is -4.1% versus the Virginia state median of $135,880.
- How does Richmond compare to the national median for Actuaries?
- The Richmond metro median is +7.0% versus the BLS national figure of $121,794.
- What education is required for Actuaries?
- BLS lists the typical entry-level education as Bachelor's degree. Many employers also weigh prior experience and credentials.
Information on this page is for general educational purposes only. It is not career, financial, or tax advice. BLS metro estimates reflect the Richmond CBSA boundary for the reference year shown and may not match individual offers, employer-specific ranges, or current market conditions. Confirm with a licensed professional before making career or compensation decisions.