Actuary Salary in the UK: What the Latest ONS Data Shows

Understanding the Actuary Salary Landscape

When researching an actuary salary in the UK, it is essential to distinguish between official statistical measures, advertised pay, and what you actually take home. The most reliable source for earnings data is the Office for National Statistics (ONS) Annual Survey of Hours and Earnings (ASHE). However, ASHE groups actuaries together with economists and statisticians under Standard Occupational Classification (SOC) code 2433, so the figures reflect that broader category.

According to ONS ASHE 2025 provisional data, the median full-time annual salary for SOC 2433 is £51,520. This means half of all full-time employees in this group earn more and half earn less. Other sources, citing ASHE 2024, report a median of £65,000. The difference arises because ASHE data is updated annually and provisional figures may be revised. For the most current picture, always check the latest ONS release.

To put this in context, the UK median full-time annual salary across all occupations was £39,039 in April 2025 (ONS ASHE). Even the lower estimate for actuaries, economists and statisticians is well above the national average, reflecting the specialist skills and qualifications required.

What the Percentiles Tell Us

ASHE also provides percentile breakdowns, which show the spread of earnings within the occupation. For SOC 2433, the 10th percentile is around £32,604, meaning the lowest-paid full-time employees in this group earn at least that amount. The 25th percentile is approximately £48,000, while the 75th percentile reaches £95,000. These figures come from different sources and years, so treat them as indicative rather than precise.

It is important to note that ASHE captures basic pay for employees who have been in the same job for at least a year. Bonuses, overtime, and self-employment income are excluded. Therefore, an actuary who receives regular exam-pass bonuses or performance-related pay may have a higher total compensation than the ASHE median suggests.

Take-Home Pay: Gross vs Net

Your actuary salary on paper is not what lands in your bank account. Deductions for Income Tax, National Insurance, pension contributions, and possibly student loans reduce the gross figure. Using 2026/27 tax rules, a single taxpayer earning the £51,520 median (with no pension deductions) would take home approximately £40,439 in England, Wales and Northern Ireland. In Scotland, where different Income Tax bands apply, the take-home would be around £38,859.

For the higher median of £65,000 (ASHE 2024), a typical take-home with a 5% net-pay pension contribution is about £46,937 per year, or £3,911 per month. These calculations assume the standard tax code 1257L and no student loan repayments. Your actual net pay will vary depending on your personal tax code, pension arrangement, and any salary sacrifice schemes.

Scotland vs Rest of UK

If you work in Scotland, your Income Tax is calculated using Scottish rates and bands, which are different from those in England, Wales and Northern Ireland. This means that for the same gross salary, your take-home pay will be lower in Scotland. For example, at the £51,520 median, the difference is about £1,580 per year. Always factor this in when comparing job offers across the border.

How Actuary Salaries Compare to Other Professions

To see how an actuary salary stacks up against other roles, visit our UK Average Salary page for a broad overview. You can also explore salary data for detailed occupational breakdowns. Actuaries typically earn more than the national median, but less than some senior finance or legal roles. The long qualification process and high demand for analytical skills keep pay competitive.

Caveats and Considerations

• ASHE data is based on employer reports and may not capture all forms of compensation.
• Advertised salaries for specific actuary jobs can be higher or lower than the median, depending on location, sector (insurance, consulting, pensions), and experience level.
• The figures quoted here are for full-time employees. Part-time or newly qualified actuaries will earn less.
• Always check the latest ONS ASHE release and HMRC tax tables for the most up-to-date information.

Summary

The actuary salary in the UK, as measured by ONS ASHE, falls between £51,520 and £65,000 median depending on the survey year. Take-home pay after tax and NI is typically 75-80% of gross, with Scotland having lower net pay due to different tax bands. For personalised calculations, use a reputable UK salary calculator and consult official sources like ONS and GOV.UK.

For more articles on UK earnings, browse our salary articles or learn about our methodology on the about page.