Actuaries Salary In South Africa

Actuaries Salary In South Africa

The average actuaries salary in South Africa is R 7 800 000 per year or R 4 000 per hour. Entry-level positions start at R 1 020 000 per year, while most experienced workers make up to R 10 800 000 per year.

What Is The Role Of An Actuary In South Africa ?

An actuary is a professional who applies analytical, statistical and mathematical skills to financial and business problems. … This ability to quantify that which is unclear helps individuals and businesses to safeguard their future, confidently and at a fair price, in an ever-changing world.

Where do actuaries work in South Africa?

Most actuaries are employed in the insurance industry, specializing in life and health insurance or property and casualty insurance.

How long does it take to become an actuary in South Africa?

It takes, on average, 9 years to qualify as an actuary, of which 4 are normally full-time University studies and 5 years part-time studies while the candidate is working. Most employers offer study leave to their actuarial students as well as some form of subsidy towards the cost of further studies.

What does actuarial scientist earn in South Africa?

The average actuarial science salary in South Africa is R 10 016 484 per year or R 5 137 per hour. Entry-level positions start at R 6 104 121 per year, while most experienced workers make up to R 10 800 000 per year.

How much do actuarial analysts earn in South Africa?

The average actuarial analyst salary in South Africa is R 6 600 000 per year or R 3 385 per hour. Entry-level positions start at R 780 000 per year, while most experienced workers make up to R 9 600 000 per year.

Which type of actuary gets paid the most?

While insurance actuaries are the most common type of actuaries, their salaries tend to be lower than property and casualty actuaries. In fact, the highest paid position in this field is an actuary fellow in casualty insurance—which can earn you over $550,000 per year.

Is actuary in demand in South Africa?

The demand for actuaries is not unique to South Africa – the United States Bureau of Labour Statistics recently predicted a 20percent growth rate in the employment of actuaries from 2018 to 2028, which far exceeds the growth expectations for all other professions,” it said.

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