Actuary Salary in India 2026 – Skills, Experience & Growth
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- Jaro Education
- 7, November 2025
- 11:00 am
Thinking about how much an actuary earns in India in 2026? Whether you are new to this field or an experienced professional, the actuary profession has remained one of the most rewarding careers in risk management and the finance sector. Thus, on average, the actuary salary for a fresher in India can range from INR 4 to INR 7 LPA, whereas experienced professionals can get approximately INR 15 to INR 25 LPA. But it is also important to keep in mind that this actuary’s salary depends on skills, certifications, and locations.
In this blog, we will outline the complete actuary salary in India, covering pay for freshers, experienced, city-wise salary, future growth, and much more. We will also talk about the Actuarial Analyst Salary vs the Actuarial Science Salary to give you an overview. Let’s dive in.
Salary of an Actuary in India
When using the term “actual salary,” it refers to the full salary that includes base + bonuses/allowances. According to Glassdoor, an Actuarial Analyst in India earns on average between ₹5,69,000 and ₹10,00,000 per year, a median of around ₹7,47,000. On the other hand, according to SalaryExpert/ERI data, the average gross actuary salary is around ₹23,99,254 per year, plus additional bonuses.
Actuary Salary based on Key Roles
Let’s look at the different levels you might progress through and what salary you might expect at each stage (estimates for 2026, based on current trends and inflation adjustments).
| Role / Level | Estimated Salary Range (INR/year) | Notes / Bonuses etc. |
|---|---|---|
| Entry-Level / Junior Actuarial Analyst | ₹3,50,000 – ₹6,00,000 | With modest bonuses or allowances |
| Actuarial Analyst (Mid-level) | ₹6,00,000 – ₹10,00,000 | Base pay + performance bonus |
| Senior Actuarial Analyst / Associate Actuary | ₹10,00,000 – ₹20,00,000+ | With significant bonuses & a leadership role |
| Actuary (ASA / Fellow) | ₹20,00,000 – ₹30,00,000+ | Base + bonuses + allowances |
| Senior / Leadership Actuary | ₹25,00,000 – ₹40,00,000+ | Especially in large firms or consulting |
Actuary Salary Based on Company
The demand for actuarial professionals is growing all over again across various industries. This growth is all because of increased demand for financial risk assessment and management.
The given below table highlights top companies hiring for actuaries with average actuary salary.
| Company | Experience Level (Years) | Approx. Salary Range (Annual, INR) |
|---|---|---|
| ICICI Lombard General Insurance Company | 0-3 yrs | ₹10,00,000 - ₹17,00,000 |
| Swiss Re | 0-2 yrs | ₹8,00,000 - ₹14,00,000 |
| Accenture | 0-3 yrs | ₹8,40,000 - ₹13,50,000 |
| Chubb | 1-3 yrs | ₹11,00,000 - ₹14,80,000 |
| Sun Life Financial | 1-4 yrs | ₹8,70,000 - ₹15,80,000 |
| Willis Towers Watson | 1-3 yrs | ₹4,60,000 - ₹10,00,000 |
| Aon | 0-2 yrs | ₹3,90,000 - ₹9,50,000 |
| WNS | 1-4 yrs | ₹4,00,000 - ₹8,40,000 |
| Mercer | 1-3 yrs | ₹3,90,000 - ₹9,00,000 |
Actuary Salary in India as Per City
*timespro.com
Locations play a major role in determining the actuary salary in India. Major metropolitan cities like Mumbai, Gurgaon, and Hyderabad, which have a strong industry presence and economic growth, offer high compensation based on your skills. For example, Mumbai is known for leading in average pay due to the headquarters of major insurance firms.
This section provides a snapshot of actuary salary trends in top cities:
| City | Avg Salary (Per Year) | Key Industries |
|---|---|---|
| Mumbai | ₹10–14 LPA | Insurance, Reinsurance, Investment Banking |
| Bengaluru | ₹9–13 LPA | Fintech, Data Analytics, Risk Consulting |
| Delhi NCR | ₹8–12 LPA | Government Insurance, Consulting, Health Tech |
| Hyderabad | ₹7–11 LPA | IT Services, Health Insurance, Analytics |
| Pune | ₹7–10 LPA | BFSI, IT/ITES, Life Insurance |
| Chennai | ₹6.5–9.5 LPA | Risk Analytics, Public Sector Insurance |
| Kolkata | ₹6–9 LPA | Insurance Operations, Mutual Funds |
Actuarial Analyst Salaries in Other Departments
Here is the snapshot of the actuary salary based on different departments:
| Department | Annual Average Salary |
| BFSI, Investments & Trading | ₹3.6 L/yr – ₹13 L/yr |
| Data Science & Analytics | ₹3.6 L/yr – ₹14 L/yr |
| Consulting | ₹3.6 L/yr – ₹13.5 L/yr |
| Finance & Accounting | ₹3.6 L/yr – ₹13.3 L/yr |
| Risk Management & Compliance | ₹4.5 L/yr – ₹13.1 L/yr |
| Customer Success, Service & Operations | ₹4 L/yr – ₹11.5 L/yr |
Factors That Influence Actuary Salaries
There are several factors that affect the actuary salary in India; they are:
1. Completion of Exams and Designation
The number of actuarial exams completed (from the Institute or international organizations) adds to your value. If you earn a designation (e.g., ASA, FSA, Fellow), there are more opportunities for better, higher-level jobs and compensation compared to an analyst starting out. The jump from analyst to ASA or Fellow can be a significant increase in actuary salary.
2. Years of Experience
Experience matters. A new hire will earn significantly less than someone with 5 to 7+ years of experience in the area they are specialised in. And with experience come better negotiating power, and the opportunity to move towards leadership or a management position.
3. Area of Work / Industry
Actuaries in the insurance area (life, health, general) will often have a different salary scale than an actuary who works in the reinsurance, consulting, pensions, or risk management department of a bank. Some areas of work are often more lucrative simply because of the risk exposure level, revenue, and profit margins.
4. Employer/Firm Size & Reputation
Top consulting firms or large insurers will often pay higher actuarial science salary than smaller startups. In fact, global firms with international exposure might offer better perks, performance-related pay plans, and career paths.
5. Specialization & Skills
Once you develop domain-specialised skills (e.g., broad catastrophe modeling, data science, predictive analytics, reinsurance, pricing, longevity risk), you can use these to your advantage when negotiating an actuary salary. Similarly for technical skills (e.g. programming or advanced modeling).
What are the Skills Required to Become an Actuary?
*proactuary.com
To become a professional actuary, you need to have a command of various skills, including technical, analytical, and business skills. So, here are some of the most popular key skills necessary:
Statistical Knowledge
An actuary must have the ability to analyse complicated datasets and identity patterns.
Mathematical Proficiency:
You must have knowledge of calculus, probability and algebra.
Problem-Solving Ability:
Understanding of handling financial and risk-related situations hassle-free.
Programming Skills:
You must be familiar with Python, SQL for data, R. If you want to learn all these, explore Jaro Education’s Online MCA Programme – Manipal University Jaipur.
Communication Skills:
Must be an excellent communicator to convey clear, actionable information to stakeholders.
Future Scope of Actuary in India in 2026
The actuary’s role in India is emerging as industries are expanding and new challenges are demanding immediate action. Thus, as we move toward 2026, the demand for hiring actuaries is also soaring. With a competitive actuary salary and growing opportunities, it is certain that this profession is becoming one of the most sought-after careers.
Key Areas Driving Future Scope of Actuaries in India
Insurance Growth:
Life, health, and general insurance are on an upswing, and as the demand increases, so does the demand for actuaries. They offer the benefit of creating policies that are attractive and sustainable, as well as monitoring risk.
Pension Reform:
With demographics shifting, retirement planning is becoming increasingly complex. Actuaries are developing smart and sustainable pension systems that can support the workforce of the future.
Data Analytics Growth:
As AI and predictive modeling rise in popularity, actuaries are using improved technology to analyze large databases that are capable of providing insights and supporting decisions with greater accuracy, making their services of higher value.
Cybersecurity:
With daily increases in digital threats, actuaries are now finding ways to evaluate cyber risks as well. Their skill set is relevant to helping organizations prepare and respond to the financial risks facing organizations from data breaches and cyberattacks.
Investment Strategies:
Actuaries don’t simply crunch numbers; they help organizations extract optimal investment portfolios while measuring market risks, which creates financial stability for the foreseeable future.
Public Policy Role:
Governments are now consulting actuaries as well. Policy formation in social programs or redesigning social policy. Actuaries analyze these issues and provide a credible discussion on future and financially stable policies.
The Bottom Line
It is true that actuarial professionals are witnessing remarkable stability and growth in India, especially in leading companies like Infosys, Swiss Re, Capgemini, and many more. These organizations are offering lucrative roles with competitive compensation. As a result, the demand for actuaries has significantly increased across industries, with professionals leveraging their managerial skills, analytical expertise, and ability to drive strategic financial decisions.
If you are looking to build a rewarding career in actuarial science, now is the perfect time to get started. Whether it’s technology, insurance, or consulting, every sector holds endless growth opportunities for skilled actuaries.
Take the first step towards your actuarial career with Jaro Education’s online courses. You can pursue an online Master’s degree in Actuarial Science, Statistics, or even an MBA in Risk Management. With us, you’ll gain industry-relevant skills, expert mentorship, and hands-on learning to secure your dream job.
Visit our website today to register and unlock your true potential.
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