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Permanent Employment (annual salary)
| Exams |
Low Salary |
Median Salary |
Mean Salary |
High Salary |
| 1 to 2 exams |
$47,000 |
$49,000 |
$49,555 |
$55,000 |
| 3 to 4 exams |
$48,000 |
$53,750 |
$52,964 |
$56,500 |
Thirty-seven Iowa students sought permanent actuarial employment this past year. Twenty-eight were graduate students and nine were undergraduate students. Not all of these students completed the salary survey.
Employers of these new graduates often gave relocation allowances and bonuses for passing exams. Most of these employers also paid an additional signing bonus ranging from $1,800 to $8,000. Most of these students will be earning more after July, when the May exam results are announced.
It should also be noted that several students had secured permanent employment after their summer internships or removed their names from consideration after accepting an offer; therefore, they limited the number of interviews needed. The overall number of offers is lower because of this.
Summer 2005 Employment / Internships (hourly wage)
| Exams |
Low Wage |
Median Wage |
Mean Wage |
High Wage |
| 0 to 1 exam |
$14.50 |
$18.60 |
$18.92 |
$26.25 |
| 2 to 3 exams |
$17.50 |
$20.00 |
$20.03 |
$23.75 |
Nine graduate students and seven undergraduate students were able to secure an internship by the end of May. Not all students completed the salary survey.
Employers of interns often assist with relocation expenses. In addition, many subsidize housing or provide housing, often in nearby college dormitories or local apartments. Several employers also paid an additional signing bonus ranging from $400 to $750.
Employers occasionally offered an incentive monetary bonus or a raise in wage to students who pass a May exam.
Please note that the numbers above are based on all reported data. No effort was made to verify the salaries and wages reported by students. Any offer reported, whether accepted or not, was included in the figures above. Several students did not report salary information. Many students, especially those graduating, limited the number of companies with which they interviewed, often going where they had interned. Also note that most of these students will be earning more beginning after July, when the May exam results are announced.
For your reference, here is the national D.W. Simpson salary survey.
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