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Actuary Average Salary in Denmark 2024

How much money does a person working as Actuary make in Denmark?


Average Monthly Salary
56,200 DKK
( 674,000 DKK yearly)

LOW
26,400
DKK
AVERAGE
56,200
DKK
HIGH
88,700
DKK
All salary figures displayed here are per month except when noted otherwise.
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 salary after tax for every career.

A person working as Actuary in Denmark typically earns around 56,200 DKK. Salaries range from 26,400 DKK (lowest) to 88,700 DKK (highest).


Salary Variance

This is the average salary including housing, transport, and other benefits. Actuary salaries in Denmark vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.



Actuary Pay Scale and Salaries in Denmark

Median and salary distribution Denmark Actuary monthly
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Salary Structure and Pay Scale Comparison

5% of people earn
52,900 DKK or more
10% of people earn
46,400 to 52,900 DKK
20% of people earn
32,300 DKK or less
65% of people earn
32,300 to 46,400 DKK
Minimum Salary
26,400 DKK
Median
53,200 DKK
Maximum
88,700 DKK




Median Salary, maximum and minimum salary, minimum wage, starting salary, and the salary range

All salary figures displayed here are per month except when noted otherwise.
  • Salary Range, Minimum Wage, and Starting Salary

    Salaries for the position Actuary in Denmark range from 26,400 DKK (starting salary) to 88,700 DKK (maximum salary). It should be noted that the given figure is not the legally mandated minimum wage; rather, it represents the lowest figure reported in a salary survey that included thousands of participants and professionals from all regions of the country.

  • Median Salary

    With a median salary of 53,200 DKK, half of the professionals who work as Actuary in Denmark earn less than this amount, and the other half earn more. The median salary denotes the middle value of salaries. Ideally, you would want to belong to the group earning more than the median salary, located on the right side of the salary distribution graph.

  • Percentiles and Salary Scale

    The median is closely associated with two other values known as the 25th and 75th percentiles. By examining the salary distribution chart, it can be determined that 25% of professionals employed as Actuary in Denmark earn less than 43,100 DKK, while 75% earn more. Similarly, the chart shows that 75% earn less than 61,200 DKK while 25% earn more.

  • Pay Scale Structure

    To provide a better understanding of expected salaries, we categorized the frequently occurring salaries into different ranges. This approach provides a more precise representation of salary distribution for the job title Actuary in Denmark compared to simply calculating the average. The majority of reported salaries, approximately 65%, fall within the range of 32,300 DKK to 46,400 DKK. About 20% of salaries are below the 32,300 DKK mark, while 10% fall within the range of 46,400 DKK to 52,900 DKK. Only 5% of individuals have salaries exceeding 52,900 DKK.

Salary Comparison by Years of Experience / Actuary / Denmark

How do experience and age affect pay?

0 - 2 Years
30,400 DKK
2 - 5 Years+38%
42,000 DKK
5 - 10 Years+42%
59,700 DKK
10 - 15 Years+22%
72,800 DKK
15 - 20 Years+6%
76,900 DKK
20+ Years+9%
83,700 DKK
Percentage increase and decrease are relative to the previous value
Salary comparison by years of experience monthly Denmark Actuary
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The experience level is the most important factor in determining the salary. Naturally, the more years of experience the higher the wage. We broke down salaries by experience level for people working as Actuary and this is what we found.


All salary figures displayed here are per month except when noted otherwise.

Employees with less than two years of experience earn approximately 30,400 DKK.

While someone with an experience level between two and five years is expected to earn 42,000 DKK, 38% more than someone with less than two year's experience.

Moving forward, an experience level between five and ten years lands a salary of 59,700 DKK, 42% more than someone with two to five years of experience.

Additionally, professionals whose expertise span anywhere between ten and fifteen years get a salary equivalent to 72,800 DKK, 22% 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 76,900 DKK, 6% more than someone with ten to fifteen years of experience.

Lastly, employees with more than twenty years of professional experience get a salary of 83,700 DKK, 9% more than people with fifteen to twenty years of experience.

On average, a person's salary doubles their starting salary by the time they cross the 10 years* experience mark.
* Based on the average change in salary over time. Salary variations differ from person to person.

Typical Salary Progress for Most Careers

Salary Comparison By Experience Level
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Salary Comparison By Education / Actuary / Denmark

How do education levels affect salaries?

Displayed below is the average salary variance between different education levels of professionals working as Actuary.

Bachelor's Degree
42,000 DKK
Master's Degree+83%
76,900 DKK
Percentage increase and decrease are relative to the previous value
Salary comparison by education level monthly Denmark Actuary
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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 salaries by education level for the position Actuary in order to make a comparison.


Level 1: Bachelor's Degree

Employees at this education level have an average salary of 42,000 DKK.


Level 2: Master's Degree

At this level, the average salary becomes 76,900 DKK, 83% more than the previous level.



Is a Master's degree or an MBA worth it? Should you pursue higher education?

A Master's degree program or any post-graduate program in Denmark costs anywhere from 204,000 DKK to 612,000 DKK 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 to a higher-paying job. The numbers seem to support the theory. 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.


Typical Salary Difference by Education for Most Careers

Salary Comparison By Education Level
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Salary and Compensation Comparison By Gender / Actuary / Denmark

Salary comparison by gender Denmark Actuary monthly
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Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? For the people who work as Actuary in Denmark, the average difference between the salary of male and female employees is 4%.

Male
57,400 DKK
Female-4%
55,000 DKK
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Denmark for all Careers

Salary comparison by gender monthly Denmark
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Average Annual Salary Increment Percentage / Actuary / Denmark

How much are annual salary increments in Denmark for individuals working as Actuary? How often do employees get salary raises?

Individuals working as Actuary in Denmark are likely to observe a salary increase of approximately 12% every 16 months. The national average annual increment for all professions combined is 9% granted to employees every 15 months.

Annual Salary Increment Rate Denmark Actuary
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The figures provided here are averages of numbers. Those figures should be taken as general guidelines. Salary increments will vary from person to person and depend on many factors, but your performance and contribution to the success of the organization remain the most important factors in determining how much and how often you will be granted a raise.

Denmark / All Professions

Annual Salary Increment Rate Denmark
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The term Annual Salary Increase usually refers to the increase in 12 calendar month period, but because it is rare 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.

How to calculate the salary increment percentage?

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

The average salary increase in one year (12 months) in Denmark is 7%.

Worldwide Salary Raises: All Countries and All Jobs

World Average Annual Salary Increment
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Salary Packages and Schemes

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.



Bonus and Incentive Rates / Actuary / Denmark

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Denmark Actuary
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40% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 60% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 2% to 7% of their annual salary.

Received Bonus
60%
No Bonus
40%

Types of Bonuses Considered

Individual Performance-Based Bonuses

The most standard form of bonus, where the employee is awarded based on their exceptional performance.

Company Performance Bonuses

Occasionally, 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 Bonuses

Granted upon achieving an important goal or milestone.

Holiday / End of Year Bonuses

These types of bonuses are given without a reason and usually resemble an appreciation token.

Bonuses Are Not Commissions!

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.


What makes a position worthy of good bonuses and a high salary?

The main two types of jobs

Revenue GeneratorsSupporting 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:
A graphics designer working for a graphics designing company.

Example:
A graphic designer in the marketing department of a hospital.


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.

Try to work for companies where your skills can generate revenue. We can't all generate revenue and that's perfectly fine.

Bonus Comparison by Seniority Level

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 Hourly Wage / Actuary / Denmark


320 DKK per hour

The average hourly wage (pay per hour) for individuals working as Actuary in Denmark is 320 DKK.This is the rate they get paid for every worked hour.


Hourly Wage = Annual Salary / ( 52 x 5 x 8 )

About The Hourly Pay Rate

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 fixed 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.

What is the minimum hourly rate of pay?

The minimum pay rate per hour for people working as Actuary in Denmark is 150 DKK. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.

Salary comparison with similar jobs

Job TitleAverage Salary
Insurance-100%
Actuarial Analyst53,400 DKK-5%
Actuarial Assistant39,700 DKK-29%
Actuarial Specialist38,700 DKK-31%
Actuary56,200 DKK+0%
Adjustment Insurance Clerk15,500 DKK-72%
Assistant Broker24,500 DKK-56%
Assistant Claims Manager42,500 DKK-24%
Associate Insurance Representative20,600 DKK-63%
Auditing Insurance Manager59,300 DKK+6%
Blockchain Insurance Auditor37,600 DKK-33%
Broker41,700 DKK-26%
Claim Advocacy Professional41,600 DKK-26%
Claims Adjuster15,700 DKK-72%
Claims Analyst21,100 DKK-62%
Claims Examiner20,200 DKK-64%
Claims Manager58,100 DKK+3%
Claims Processor14,700 DKK-74%
Claims Representative18,200 DKK-68%
Claims Resolution Specialist42,900 DKK-24%
Claims Supervisor41,400 DKK-26%
Complaints Specialist35,400 DKK-37%
Compliance Examiner38,600 DKK-31%
Compliance Officer32,600 DKK-42%
Compliance Reviewer36,500 DKK-35%
Consultant40,600 DKK-28%
Drone Claims Adjuster18,300 DKK-67%
Eligibility Interviewer41,400 DKK-26%
Eligibility Specialist40,300 DKK-28%
Insurance Account Manager50,700 DKK-10%
Insurance Accounts Executive45,500 DKK-19%
Insurance Adjuster38,700 DKK-31%
Insurance Agent25,000 DKK-55%
Insurance Analyst37,600 DKK-33%
Insurance Appraiser40,200 DKK-28%
Insurance Claims Clerk14,300 DKK-75%
Insurance Compliance Officer44,400 DKK-21%
Insurance Data Scientist38,400 DKK-32%
Insurance Examiner37,300 DKK-34%
Insurance Fraud Investigator33,300 DKK-41%
Insurance Investigator36,700 DKK-35%
Insurance Manager68,400 DKK+22%
Insurance Operations Manager66,100 DKK+18%
Insurance Policy Processing Clerk15,400 DKK-73%
Insurance Pricing Assistant31,300 DKK-44%
Insurance Product Manager49,700 DKK-12%
Insurance Program Manager55,100 DKK-2%
Insurance Project Manager51,800 DKK-8%
Insurance Quality Assurance Agent35,500 DKK-37%
Insurance Sales Agent23,600 DKK-58%
Insurance Sales Director69,000 DKK+23%
Insurance Sales Manager54,200 DKK-3%
Insurance Sales Representative21,800 DKK-61%
Insurance Team Leader40,500 DKK-28%
Insurance Underwriter30,800 DKK-45%
Insurtech Analyst37,400 DKK-33%
Loss Control Specialist40,300 DKK-28%
Loss Prevention Investigator41,700 DKK-26%
Loss Prevention Manager55,900 DKK-0%
Loss Prevention Specialist43,300 DKK-23%
Marine Underwriter31,100 DKK-45%
Medical Auditor40,400 DKK-28%
Monitoring and Performance Officer28,500 DKK-49%
Parametric Insurance Specialist38,500 DKK-31%
Payment Services Specialist40,200 DKK-28%
Peer-to-Peer Insurance Manager46,900 DKK-16%
Policy Change Director63,600 DKK+13%
Policy Change Supervisor42,100 DKK-25%
Policy Change Technician20,000 DKK-64%
Risk Analyst46,900 DKK-16%
Risk Management Director78,000 DKK+39%
Risk Management Supervisor48,300 DKK-14%
Risk Manager76,200 DKK+36%
Risk Modeling Manager73,100 DKK+30%
Social Media Risk Analyst40,900 DKK-27%
Title Insurance Typist35,100 DKK-38%
Training Manager42,700 DKK-24%
Underwriting Assistant21,100 DKK-62%

Salary Comparison By City

CityAverage Salary
Copenhagen59,400 DKK

Government vs Private Sector Salary Comparison

Where can you get paid more, working in a private company or the government? The difference between the public or government sector salaries and the private sector salaries in Denmark is 6% on average across all career fields.

Private Sector
39,700 DKK
Public Sector+6%
42,000 DKK
Percentage increase and decrease are relative to the previous value

Salary Statistics and Calculation Guide

What is considered to be a good and competitive salary for the job title Actuary in Denmark?

A good and competitive compensation would range anywhere between 53,200 DKK and 61,200 DKK. This is a very rough estimate. Experience and education play a very huge part in the final earnings.

Gross Salary (before tax) and Net Salary (after tax)

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 salary after tax for every career.

Base / Basic Salary

The base salary for a careers like Actuary in Denmark ranges from 26,400 DKK to 43,100 DKK. 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 with a grain of salt.


What is the difference between the median and the average salary?

Both are indicators. If your salary is higher than both the average and the median then you are doing very well. If your salary is lower than both, then many people earn 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


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