How much does an Actuary I make in Alabama? The average Actuary I salary in Alabama is $72,182 as of February 26, 2024, but the range typically falls between $63,810 and $79,705. Salary ranges can vary widely depending on the city and many other important factors, including education, certifications, additional skills, the number of years you have spent in your profession.

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Actuary I Salaries by Percentile
Percentile Salary Location Last Updated
10th Percentile Actuary I Salary $56,188 AL February 26, 2024
25th Percentile Actuary I Salary $63,810 AL February 26, 2024
50th Percentile Actuary I Salary $72,182 AL February 26, 2024
75th Percentile Actuary I Salary $79,705 AL February 26, 2024
90th Percentile Actuary I Salary $86,555 AL February 26, 2024
25% $63,810 10% $56,188 90% $86,555 75% $79,705 $72,182 50%(Median) Didn’t find job title? Click
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Financial Risk Analyst

Yamaha Motor Corporation, USA - Cypress, CA

Life New Business Specialist I

Fidelity & Guaranty Life Insurance Company - Des Moines, IA

Summer Intern - Human Resources

Bankers Financial Corp - Saint Petersburg, FL

What skills does an Actuary I need?

Each competency has five to ten behavioral assertions that can be observed, each with a corresponding performance level (from one to five) that is required for a particular job.

1.

Analysis: Analysis is the process of considering something carefully or using statistical methods in order to understand it or explain it.

2.

Underwriting: Underwriting services are provided by some large financial institutions, such as banks, or insurance or investment houses, whereby they guarantee payment in case of damage or financial loss and accept the financial risk for liability arising from such guarantee. An underwriting arrangement may be created in a number of situations including insurance, issue of securities in a public offering, and bank lending, among others. The person or institution that agrees to sell a minimum number of securities of the company for commission is called the underwriter. The name derives from the Lloyd's of London insurance market. Financial bankers, who would accept some of the risk on a given venture (historically a sea voyage with associated risks of shipwreck) in exchange for a premium, would literally write their names under the risk information that was written on a Lloyd's slip created for this purpose.

3.

Collective Bargaining: Collective bargaining is a process of negotiation between employers and a group of employees aimed at agreements to regulate working salaries, working conditions, benefits, and other aspects of workers' compensation and rights for workers. The interests of the employees are commonly presented by representatives of a trade union to which the employees belong. The collective agreements reached by these negotiations usually set out wage scales, working hours, training, health and safety, overtime, grievance mechanisms, and rights to participate in workplace or company affairs. The union may negotiate with a single employer (who is typically representing a company's shareholders) or may negotiate with a group of businesses, depending on the country, to reach an industry-wide agreement. A collective agreement functions as a labour contract between an employer and one or more unions. Collective bargaining consists of the process of negotiation between representatives of a union and employers (generally represented by management, or, in some countries such as Austria, Sweden and the Netherlands, by an employers' organization) in respect of the terms and conditions of employment of employees, such as wages, hours of work, working conditions, grievance procedures, and about the rights and responsibilities of trade unions. The parties often refer to the result of the negotiation as a collective bargaining agreement (CBA) or as a collective employment agreement (CEA).

Analysis 9.02%
Underwriting 2.04%
Collective Bargaining 0.96%
Others 87.98%

Job Description for Actuary I

Actuary I conducts analysis, pricing and risk assessment to estimate financial outcomes. Applies knowledge of mathematics, probability, statistics, principles of finance and business to calculations in life, health, social, and casualty insurance, annuities, and pensions. Being an Actuary I develops probability tables regarding fire, natural disasters, death, unemployment, etc. based on analysis of statistical data and other pertinent information. Typically requires a bachelor's degree. Additionally, Actuary I typically reports to a supervisor or manager. The Actuary I works on projects/matters of limited complexity in a support role. Work is closely managed. To be an Actuary I typically requires 0-2 years of related experience. (Copyright 2024 Salary.com)... View full job description

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Job Openings for Actuary I in Alabama

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Location Avg. Salary Date Updated
Location Georgiana, AL Avg. Salary $69,833 Date Updated February 26, 2024
Location Tanner, AL Avg. Salary $72,965 Date Updated February 26, 2024
Location Abbeville, AL Avg. Salary $67,065 Date Updated February 26, 2024
Location Abernant, AL Avg. Salary $73,292 Date Updated February 26, 2024
Location Adamsville, AL Avg. Salary $74,154 Date Updated February 26, 2024
Location Addison, AL Avg. Salary $71,720 Date Updated February 26, 2024
Location Adger, AL Avg. Salary $73,373 Date Updated February 26, 2024
Location Akron, AL Avg. Salary $73,075 Date Updated February 26, 2024
Location Alabaster, AL Avg. Salary $73,735 Date Updated February 26, 2024
Location Alberta, AL Avg. Salary $71,433 Date Updated February 26, 2024

Career Path for Actuary I

A career path is a sequence of jobs that leads to your short- and long-term career goals. Some follow a linear career path within one field, while others change fields periodically to achieve career or personal goals.

For Actuary I, the upper level is Actuary II and then progresses to Actuary IV.

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Actuary I Salary in Alabama
Actuary I Salary Graph, Regional Distribution and Summary