lil’ snow white

I recently chanced upon the Report on Wages and noticed that the 3rd quartile wage for an Actuary is $5100. Despite this being an average figure based on the salaries of the sample population chosen, the figure appears too far off from the norm.

Upon referring to the list of Occupations, I discovered that there is only one category for Actuary, which possibly could include Qualified Actuaries, as well as non-qualified ones.

Often, the salary difference between the two is great. No actuary, if fully-qualified, will draw an income as low as $5,100. On the other hand, not many non-qualified actuaries will command an income as high as $5,000.

The problem with combining these two categories of actuaries is that the true average wage of each category is masked and the figure we see is reflective of neither category of profession, wihch could be misleading for individuals who rely on such information in their career decisions.

I am speaking from the viewpoint of an actuary and understand that most people would not have realised the difference between these two types of actuaries.

I hope the relevant department can look into this matter when conducting the next survey so that more accurate statistics can be produced.