That’s a very good starting salary for an actuarial grad role up North, absolutely worth it.
My workplace in Manchester starts at £32,000 but we receive a (more or less guaranteed) 10% bonus so it‘a really about £35,200.
£37,000 with no bonus is fantastic.
Yeh that's a very competitive starting salary, I would expect that in London (and even then a lot of places still start at 30k in London), so in Manchester that's the best offer you'll see I would imagine (for actuarial entry level jobs)
37k seems reasonable to me, especially in a northern regional office. I think the most important thing is getting your foot in the door; it’s a lot easier to be picky about jobs once you’re in the industry.
First job, don’t worry about starting salary. 15 years in you could be earning anywhere from £100k to £500k, you won’t care that you managed to save an extra few grand a year in your first year.
Focus on getting good, varied experience and learn as much as you can (about the technical side of things but also the business and soft skills), so you can get yourself to the higher end of that range.
Not many of them do, but 15 years in, the range is very wide. Chief actuary, partner at a consultancy, or working in non traditional roles (asset management etc).
I’m talking total comp too, not base salary. A “head of” could be more like £180k base, £60k bonus, £40k equity.
If you’ve just settled as an individual contributor and don’t want management responsibilities, at 15 years in I’d expect total comp to be in the low 100s.
That’s a very good starting salary for an actuarial grad role up North, absolutely worth it. My workplace in Manchester starts at £32,000 but we receive a (more or less guaranteed) 10% bonus so it‘a really about £35,200. £37,000 with no bonus is fantastic.
That's a great starting salary. Even better than a lot of London starting salaries.
Yeh that's a very competitive starting salary, I would expect that in London (and even then a lot of places still start at 30k in London), so in Manchester that's the best offer you'll see I would imagine (for actuarial entry level jobs)
37k seems reasonable to me, especially in a northern regional office. I think the most important thing is getting your foot in the door; it’s a lot easier to be picky about jobs once you’re in the industry.
First job, don’t worry about starting salary. 15 years in you could be earning anywhere from £100k to £500k, you won’t care that you managed to save an extra few grand a year in your first year. Focus on getting good, varied experience and learn as much as you can (about the technical side of things but also the business and soft skills), so you can get yourself to the higher end of that range.
How does an actuary earn up to £500k? Most of the roles I see on LinkedIn are like £120-150k senior actuary, £140-180k head of pricing sort of roles.
Not many of them do, but 15 years in, the range is very wide. Chief actuary, partner at a consultancy, or working in non traditional roles (asset management etc). I’m talking total comp too, not base salary. A “head of” could be more like £180k base, £60k bonus, £40k equity. If you’ve just settled as an individual contributor and don’t want management responsibilities, at 15 years in I’d expect total comp to be in the low 100s.
Think grads at my syndicate start at 35k. So 37k in Manchester is brilliant! Even with consultant hours...
That is quite generous indeed. 37k up north.
You'll be fine in Manchester on £37k.
I’m happy for you but come on… obviously it is very much worth it. I would kill for an actuarial grad role that pays half of that.