A person working as Actuary in Kenya typically earns around 195,000 KES per month. Salaries range from 95,800 KES (lowest) to 305,000 KES (highest).
This is the average monthly salary including housing, transport, and other benefits. Actuary salaries vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.
![]() 95,800 KES |
![]() 182,000 KES |
![]() 305,000 KES |
Actuary salaries in Kenya range from 95,800 KES per month (starting salary) to 305,000 KES per month (maximum salary). This is not the minimum wage as per the law, only the lowest reported number in the salary survey that had thousands of participants and professionals from all over the country.
The median salary is 182,000 KES per month, which means that half (50%) of people working as Actuary(s) are earning less than 182,000 KES while the other half are earning more than 182,000 KES. The median represents the middle salary value. Generally speaking, you would want to be on the right side of the graph with the group earning more than the median salary.
Closely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of Actuary(s) are earning less than 149,000 KES while 75% of them are earning more than 149,000 KES. Also from the diagram, 75% of Actuary(s) are earning less than 208,000 KES while 25% are earning more than 208,000 KES.
We grouped the most common and recurring salaries into brackets to give more insight into what salary to expect. This method is more accurate than just the average salary and gives more insights on how salaries are actually distributed. Around 65% of all reported figures are in the range 114,000 KES to 160,000 KES. Approximatly 20% fall under the 114,000 KES cap. Ten percent of wages are from 160,000 KES to 181,000 KES. Only 5% of people grossed 181,000 KES or more.
0 - 2 Years | 114,000 KES | |
2 - 5 Years | +29% | 146,000 KES |
5 - 10 Years | +38% | 201,000 KES |
10 - 15 Years | +24% | 249,000 KES |
15 - 20 Years | +7% | 267,000 KES |
20+ Years | +7% | 285,000 KES |
The experience level is the most important factor in determining the salary. Naturally the more years of experience the higher your wage. We broke down Actuary salaries by experience level and this is what we found.
Employees with less than two years of experience makes approximately 114,000 KES per month.
While someone with an experience level between two and five years is expected to earn 146,000 KES per month, 29% more than someone with less than two year's experience.
Moving forward, an experience level between five and ten years lands a salary of 201,000 KES per month, 38% more than someone with two to five years of experience.
Additionally, Actuary whose expertise span anywhere between ten and fifteen years get a salary equivalent to 249,000 KES per month, 24% more than someone with five to ten years of experience.
If the experience level is between fifteen and twenty years, then the expected wage is 267,000 KES per month, 7% more than someone with ten to fifteen years of experience.
Lastly, employees with more than twenty years of professional experience get a salary of 285,000 KES per month, 7% more than people with fifteen to twenty years of experience.
Bachelor's Degree | 142,000 KES | |
Master's Degree | +60% | 228,000 KES |
We all know that higher education equals a bigger salary, but how much more money can a degree add to your income? We broke down Actuary salaries by education level in order to make a comparison.
When the education level is Bachelor's Degree, the average salary is 142,000 KES per month.
While someone with a Master's Degree gets a salary of 228,000 KES per month, 60% more than someone having a Bachelor's Degree degree.
A Master's degree program or any post-graduate program in Kenya costs anywhere from 734,000 Kenyan Shilling(s) to 2,200,000 Kenyan Shilling(s) and lasts approximately two years. That is quite an investment.
You can't really expect any salary increases during the study period, assuming you already have a job. In most cases, a salary review is conducted once education is completed and the degree has been attained.
Many people pursue higher education as a tactic to switch into a higher paying job. The numbers seem to support the thoery. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.
If you can afford the costs of higher education, the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.
Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male Actuary employees in Kenya earn 10% more than their female counterparts on average.
Male | 203,000 KES | |
Female | -9% | 185,000 KES |
Actuary(s) in Kenya are likely to observe a salary increase of approximately 7% every 30 months. The national average annual increment for all professions combined is 4% granted to employees every 29 months.
The term 'Annual Salary Increase' usually refers to the increase in 12 calendar month period, but because it is rarely that people get their salaries reviewed exactly on the one year mark, it is more meaningful to know the frequency and the rate at the time of the increase.
The annual salary Increase in a calendar year (12 months) can be easily calculated as follows: Annual Salary Increase = Increase Rate x 12 ÷ Increase Frequency
Banking | 3% | |
Energy | 6% | |
Information Technology | 9% | |
Healthcare | 3% | |
Travel | 6% | |
Construction | 9% | |
Education | 3% |
Listed above are the average annual increase rates for each industry in Kenya for the year 2022. Companies within thriving industries tend to provide higher and more frequent raises. Exceptions do exist, but generally speaking, the situation of any company is closely related to the economic situation in the country or region. These figures tend to change frequently.
Not all compensation increases are reflected directly in the salary. Some companies offer upgraded packages to their staff instead of cash money. The figures displayed here account only for direct increments to the base salary.
"Actuary" is considered to be a moderate bonus-based job. The people who get the highest bonuses are usually somehow involved in the revenue generation cycle.
61% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 39% said that they received at least one form of monetary bonus.
Those who got bonuses reported rates ranging from 3% to 6% of their annual salary.
Received Bonus | 39% | |
No Bonus | 61% |
The most standard form of bonus where the employee is awarded based on their exceptional performance.
Company Performance BonusesOccasionally, some companies like to celebrate excess earnings and profits with their staff collectively in the form of bonuses that are granted to everyone. The amount of the bonus will probably be different from person to person depending on their role within the organization.
Goal-Based BonusesGranted upon achieving an important goal or milestone.
Holiday / End of Year BonusesThese types of bonuses are given without a reason and usually resemble an appreciation token.
People tend to confuse bonuses with commissions. A commission is a prefixed rate at which someone gets paid for items sold or deals completed while a bonus is in most cases arbitrary and unplanned.
The main two types of jobs | |
Revenue Generators | Supporting Cast |
Employees that are directly involved in generating revenue or profit for the organization. Their field of expertise usually matches the type of business. | Employees that support and facilitate the work of revenue generators. Their expertise is usually different from that of the core business operations. |
Example: | Example: |
Revenue generators usually get more and higher bonuses, higher salaries, and more frequent salary increments. The reason is quite simple: it is easier to quantify your value to the company in monetary terms when you participate in revenue generation.
Top management personnel and senior employees naturally exhibit higher bonus rates and frequencies than juniors. This is very predictable due to the inherent responsibilities of being higher in the hierarchy. People in top positions can easily get double or triple bonus rates than employees down the pyramid.
Average Salary 2019 | 173,000 KES | |
Average Salary 2020 | +4% | 180,000 KES |
Average Salary 2021 | +3% | 185,000 KES |
Average Salary 2022 | +2% | 188,000 KES |
Actuary salaries in Kenya are on the rise in the year 2023 based on recent submitted salaries and reports. As displayed in the chart, salaries in 2022 are 2% higher than those of 2021. The trend suggests a slow yet continuous increase in pay in 2024 and future years. These numbers may vary from industry to another.
The hourly wage is the salary paid in one worked hour. Usually jobs are classified into two categories: salaried jobs and hourly jobs. Salaried jobs pay a fix amount regardless of the hours worked. Hourly jobs pay per worked hour. To convert salary into hourly wage the above formula is used (assuming 5 working days in a week and 8 working hours per day which is the standard for most jobs). The hourly wage calculation may differ slightly depending on the worked hours per week and the annual vacation allowance. The figures mentioned above are good approximations and are considered to be the standard. One major difference between salaried employees and hourly paid employees is overtime eligibility. Salaried employees are usually exempt from overtime as opposed to hourly paid staff.
The minimum pay rate per hour for 'Actuary' in Kenya is 550 KES. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.
The average salary for Actuary is 33% more than that of Insurance. Also, Insurance salaries are 0% more than those of All Jobs.
Job Title | Average Salary |
Actuarial Analyst | 209,000 KES | ![]() |
Actuarial Assistant | 149,000 KES | ![]() |
Actuary | 195,000 KES | ![]() |
Adjustment Insurance Clerk | 57,400 KES | ![]() |
Assistant Broker | 96,200 KES | ![]() |
Assistant Claims Manager | 169,000 KES | ![]() |
Associate Insurance Representative | 79,100 KES | ![]() |
Auditing Insurance Manager | 232,000 KES | ![]() |
Broker | 147,000 KES | ![]() |
Claim Advocacy Professional | 146,000 KES | ![]() |
Claims Adjuster | 58,700 KES | ![]() |
Claims Analyst | 83,000 KES | ![]() |
Claims Examiner | 75,900 KES | ![]() |
Claims Manager | 208,000 KES | ![]() |
Claims Processor | 55,500 KES | ![]() |
Claims Representative | 66,200 KES | ![]() |
Claims Resolution Specialist | 159,000 KES | ![]() |
Claims Supervisor | 150,000 KES | ![]() |
Complaints Specialist | 144,000 KES | ![]() |
Compliance Officer | 122,000 KES | ![]() |
Consultant | 159,000 KES | ![]() |
Eligibility Specialist | 153,000 KES | ![]() |
Insurance Account Manager | 184,000 KES | ![]() |
Insurance Accounts Executive | 162,000 KES | ![]() |
Insurance Agent | 91,400 KES | ![]() |
Insurance Analyst | 151,000 KES | ![]() |
Insurance Appraiser | 152,000 KES | ![]() |
Insurance Claims Clerk | 56,800 KES | ![]() |
Insurance Examiner | 142,000 KES | ![]() |
Insurance Investigator | 147,000 KES | ![]() |
Insurance Manager | 259,000 KES | ![]() |
Insurance Operations Manager | 258,000 KES | ![]() |
Insurance Policy Processing Clerk | 58,700 KES | ![]() |
Insurance Pricing Assistant | 115,000 KES | ![]() |
Insurance Program Manager | 195,000 KES | ![]() |
Insurance Project Manager | 202,000 KES | ![]() |
Insurance Quality Assurance Agent | 127,000 KES | ![]() |
Insurance Sales Agent | 95,000 KES | ![]() |
Insurance Sales Director | 258,000 KES | ![]() |
Insurance Team Leader | 156,000 KES | ![]() |
Insurance Underwriter | 108,000 KES | ![]() |
Loss Control Specialist | 152,000 KES | ![]() |
Loss Prevention Investigator | 165,000 KES | ![]() |
Loss Prevention Manager | 212,000 KES | ![]() |
Loss Prevention Specialist | 157,000 KES | ![]() |
Marine Underwriter | 112,000 KES | ![]() |
Medical Auditor | 153,000 KES | ![]() |
Monitoring and Performance Officer | 111,000 KES | ![]() |
Payment Services Specialist | 159,000 KES | ![]() |
Policy Change Director | 244,000 KES | ![]() |
Policy Change Supervisor | 170,000 KES | ![]() |
Policy Change Technician | 77,000 KES | ![]() |
Risk Analyst | 164,000 KES | ![]() |
Risk Management Director | 288,000 KES | ![]() |
Risk Management Supervisor | 188,000 KES | ![]() |
Risk Manager | 283,000 KES | ![]() |
Risk Modeling Manager | 287,000 KES | ![]() |
Title Insurance Typist | 130,000 KES | ![]() |
Training Manager | 168,000 KES | ![]() |
City | Average Salary |
Kisumu | 190,000 KES |
Mombasa | 214,000 KES |
Nairobi | 215,000 KES |
Where can you get paid more, working for a private company or for the government? Public sector employees in Kenya earn 14% more than their private sector counterparts on average across all sectors.
Private Sector | 140,000 KES | |
Public Sector | +14% | 159,000 KES |
A good and competitive compensation would range anywhere between 182,000 KES and 208,000 KES. This is a very rough estimate and your experience and education will play a very huge part into your final earnings.
All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salart after tax for every career.
The base salary for Actuary in Kenya is ranges from 149,000 KES to 208,000 KES. The base salary depends on many factors including experience and education. It is not easy to provide a figure with very little information, so take this range in a grain of salt.
Both are indicators. If your salary is higher than both of the average and the median then you are doing very well. If your salary is lower than both, then many people are earning more than you and there is plenty of room for improvement. If your wage is between the average and the median, then things can be a bit complicated. We wrote a guide to explain all about the different scenarios. How to compare your salary