Average Actuarial Analyst Salary in Malawi for 2026
In this article, we will look at the average Actuarial Analyst salary for 2026 in Malawi and how that compares to other countries and professions. We'll also look at interesting salary data points like median salary, 25th and 75th percentile salaries, salary amounts based on experience, bonus ranges and more!
The data in this article has been compiled using official government salary data, salary surveys, and other sources such as job postings which contain salary information.
All salary information is in the local currency, which is the Malawian kwacha. To keep things simple, we are using the MWK currency code instead of the currency symbol MK.
How Much Does an Actuarial Analyst Make in Malawi?
An Actuarial Analyst working in Malawi will typically earn around 2,748,900 MWK per year, and this can range from the lowest average salary of about 1,259,300 MWK to the highest average salary of 4,380,400 MWK.
These are average salaries for an Actuarial Analyst in Malawi and include benefits such as housing and transport. It's also possible for an Actuarial Analyst to earn more or less than the average salaries shown above.
Actuarial Analyst salaries will vary a lot based on your experience, location, skills, and gender. Keep reading below to research more data on each of these areas.
Distribution of Actuarial Analyst Salaries in Malawi
So we've looked at the average salaries an Actuarial Analyst will earn in Malawi. The next interesting data point is the distribution of salaries.
Salary ranges
We already know that an Actuarial Analyst can earn between 1,259,300 MWK and 4,380,400 MWK on average in Malawi. This is known as the range in statistics.
The difference between the maximum and minimum values is a good indicator of variability in salaries, and can be used by employers to figure out how much they can expect to pay, and for employees to know how much they can earn.
Median salary
The median salary for an Actuarial Analyst in Malawi is 2,976,900 MWK. This is the middle value in the distribution of salaries.
What this means is that approximately 50% of the population earn less than 2,976,900 MWK, and 50% of the population earn more than 2,976,900 MWK.
If you are earning more than the median salary, that's a good indicator that you are being paid well.
If you're not earning more than the median salary, your objective should be to increase your earnings to be at least as high as the median salary (which you can do by asking for a pay rise, looking for a better paying job, etc).
Percentiles
Percentiles are similar to the median salary, but instead of looking at the middle value, they look at the values in the top and bottom half of the distribution.
For the average Actuarial Analyst salary in Malawi, 25% of the population are earning less than 1,908,800 MWK while 75% of the population earn more than 1,908,800 MWK.
75% of the population earn less than 3,970,700 MWK, and 25% of the population earn more than 3,970,700 MWK.
Like the median salary, the 25th and 75th percentile salaries can be used to determine which quartile you fall into so that you know whether you are being paid well enough compared to others in your profession and location.
The difference between a median and an average salary
The median and average salary are both indicators you can use to see if you are being paid fairly based on the overall population.
- If your salary is higher than the average and the median salary, you are earning well compared to others.
- If your salary is lower than the average and the median salary, it could indicate you are not being paid well enough.
- If you are somewhere in between then it's tricky to determine if you are being paid well enough and you might need to research more closely.
Actuarial Analyst Salary by Experience Level in Malawi
The most important factor in determining your salary after the specific profession is the number of years experience you have. It stands to reason that more years of experience will result in a higher wage.
We have researched the average Actuarial Analyst salary based on years of experience to give you an idea of how the average changes once you've worked for a certain amount of time.
- 0 - 2 Years Experience. An Actuarial Analyst in Malawi that has less than two years of experience can expect to earn somewhere in the region of 1,440,700 MWK.
- 2 - 5 Years Experience. With two to five years of experience the average Actuarial Analyst salary would increase to 1,921,500 MWK.
- 5 - 10 Years Experience. From five to ten years of experience as an Actuarial Analyst, the average salary would be 2,831,100 MWK.
- 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 3,455,900 MWK.
- 15 - 20 Years Experience. An Actuarial Analyst with 15 to 20 years of experience can earn an average of 3,769,500 MWK.
- 20+ Years Experience. For an Actuarial Analyst with more than 20 years, the expected average salary increases to 4,079,300 MWK.
Average Salary by Experience Chart
| 0-2 Years | - | 1,440,700 MWK |
| 2-5 Years | +34% | 1,921,500 MWK |
| 5-10 Years | +48% | 2,831,100 MWK |
| 10-15 Years | +22% | 3,455,900 MWK |
| 15-20 Years | +9% | 3,769,500 MWK |
| 20+ Years | +8% | 4,079,300 MWK |
Actuarial Analyst Salary by Education Level in Malawi
As well as experience in a job, your education plays a big role in how much you can earn. A lot of higher paying positions require a high level of education, but how much can a degree increase your salary?
In our research we have compared the salaries of employees in the same job and career level with different levels of education to see how much more you can earn at each education level.
The salary you can earn based on your education is very specific to both your location and the career path you choose.
In our research, we looked at the average salary for an Actuarial Analyst in Malawi based on the education level of the employees in order to find out whether a better education level would increase your salary.
- Certificate or Diploma. An Actuarial Analyst in Malawi with a certificate or diploma education can earn an average salary of 1,645,600 MWK.
- Bachelor's Degree. An Actuarial Analyst in Malawi with a bachelor's degree education can earn an average salary of 2,566,100 MWK.
- Master's Degree. An Actuarial Analyst in Malawi with a master's degree education can earn an average salary of 4,309,300 MWK.
Average Salary by Education Chart
| Certificate or Diploma | - | 1,645,600 MWK |
| Bachelor's Degree | +57% | 2,566,100 MWK |
| Master's Degree | +68% | 4,309,300 MWK |
How Much is a Master's Degree or MBA Program?
The approximate cost of a master's degree or post-graduate program like an MBA in Malawi is around 822,000 to 2,470,000 MWK and takes two years to complete.
As you can see above, there are financial benefits from reaching master's degree level, but don't expect to see much of a salary increase until you have completed the degree.
It's common for people to pursue an MBA or other post-graduate program in order to switch to a a job that pays more. On average, you can expect to earn around 10% more when switching to a new company.
Whether you decide to pursue a master's degree depends on many factors. If you are able to afford it, the numbers suggest that the return on investment is worth it and you could recover the costs in a few years from the salary increase you would receive.
Actuarial Analyst Salary Compared by Gender
In the modern age, we know that there should never be a pay gap between men and women. Unfortunately, in many professions, there is still a significant difference between the salaries earned by men when compared to the salary of women in the same job.
In Malawi, a male actuarial analyst will earn an average of 2,998,500 MWK, while a female actuarial analyst will earn around 2,508,300 MWK.
This means that a male actuarial analyst earns approximately 20% more than a female actuarial analyst for performing the same job.
Average Salary by Gender Chart in Malawi
| Male | - | 2,998,500 MWK |
| Female | -20% | 2,508,300 MWK |
Actuarial Analyst Average Pay Raise in Malawi
In many countries, an annual pay raise is often given to employees to reward their service with a salary increase.
From our research, we can see that the average pay raise for an Actuarial Analyst in Malawi is around 7% every 30 months.
The national average pay raise across all professions and industries in Malawi is around 4% every 29 months.
In this case, we can see that the number of months between the average pay raise is higher than the typical 12 months.
To make the data more meaningful, we can calculate what the approximate annual pay raise would be using a simple formula:
Annual Increase = ( Increase Rate ÷ Months ) × 12
So for this example, it would be:
Annual Increase = ( 7 ÷ 30 ) × 12 = 3%
What this means is that an Actuarial Analyst in Malawi can expect to receive an average pay raise of around 3% every 12 months.
Annual Pay Raise by Industry in Malawi for 2026
In the chart below, you can see the average annual pay raise percentages for each of the major industries in Malawi.
You will see that companies in bigger and more lucrative industries tend to have the higher annual pay raises.
| Banking | - | 3% |
| Energy | - | 6% |
| Information Technology | - | 9% |
| Healthcare | - | 3% |
| Travel | - | 6% |
| Construction | - | 9% |
| Education | - | 3% |
Actuarial Analyst Bonus and Incentive Rates in Malawi
Another part of your overall compensation in a job is how much bonus you receive. Some job roles will be more likely to pay a bonus than others and also more likely to have higher bonus rates.
Generally speaking, jobs that are more involved with direct revenue generation will receive higher bonuses based on the performance towards revenue goals.
An Actuarial Analyst is a low bonus based job, with 42% of employees reporting at least one bonus in the last 12 months.
58% reported that they had not received any bonuses in the previous 12 months.
For the employees that did receive a bonus in the previous 12 months, the reported bonuses ranged from 2% to 7%.
| Received Bonus | - | 42% |
| No Bonus | - | 58% |
What are the Types of Bonus?
There are a number of difference types of bonus you can receive in a job. Including:
- Individual performance bonus - This is a bonus that is awarded to an individual employee for general performance in the job. It's the most common type of bonus.
- Company performance bonus - This is a bonus that is awarded to a company employees to share profit with the staff.
- Goal based bonus - This is a bonus that is awarded to an individual employee (or a team) for achieving specific goals, objectives, or milestones.
- Holiday bonus - This type of bonus is usually paid around the holidays, often the end of the year, and is a token of appreciation for the hard work throughout the year.
Government vs Private Sector Salaries
Another commonly asked question is whether you get paid a higher salary working in the public (government) sector or the private sector.
Public sector employees in Malawi earn approximately 14% more than private sector employees in the same role.
| Public Sector | - | 2,136,200 MWK |
| Private Sector | -14% | 1,870,400 MWK |
Salaries for Jobs Similar to an Actuarial Analyst
In the table below, we have salary information for jobs that are similar to an Actuarial Analyst in Malawi.
| Job Title | Category | Salary |
|---|---|---|
| Actuarial Assistant | Insurance | 1,990,300 MWK |
| Actuarial Specialist | Insurance | 1,882,700 MWK |
| Actuary | Insurance | 2,819,600 MWK |
| Adjustment Insurance Clerk | Insurance | 743,100 MWK |
| Assistant Broker | Insurance | 1,283,600 MWK |
| Assistant Claims Manager | Insurance | 2,207,600 MWK |
| Associate Insurance Representative | Insurance | 1,012,100 MWK |
| Auditing Insurance Manager | Insurance | 3,061,300 MWK |
| Broker | Insurance | 2,110,600 MWK |
| Claim Advocacy Professional | Insurance | 2,003,200 MWK |
| Claims Adjuster | Insurance | 785,400 MWK |
| Claims Analyst | Insurance | 1,025,100 MWK |
| Claims Examiner | Insurance | 1,057,100 MWK |
| Claims Manager | Insurance | 2,953,200 MWK |
| Claims Processor | Insurance | 724,300 MWK |
| Claims Representative | Insurance | 927,000 MWK |
| Claims Resolution Specialist | Insurance | 2,221,600 MWK |
| Claims Supervisor | Insurance | 1,990,300 MWK |
| Complaints Specialist | Insurance | 1,765,300 MWK |
| Compliance Examiner | Insurance | 1,967,000 MWK |
| Compliance Officer | Insurance | 1,668,900 MWK |
| Compliance Reviewer | Insurance | 1,800,200 MWK |
| Consultant | Insurance | 2,065,400 MWK |
| Eligibility Interviewer | Insurance | 2,052,200 MWK |
| Eligibility Specialist | Insurance | 2,065,400 MWK |
| Insurance Account Manager | Insurance | 2,566,100 MWK |
| Insurance Accounts Executive | Insurance | 2,173,000 MWK |
| Insurance Adjuster | Insurance | 1,858,200 MWK |
| Insurance Agent | Insurance | 1,195,600 MWK |
| Insurance Analyst | Insurance | 1,882,700 MWK |
| Insurance Appraiser | Insurance | 1,967,000 MWK |
| Insurance Claims Clerk | Insurance | 748,600 MWK |
| Insurance Examiner | Insurance | 1,908,800 MWK |
| Insurance Investigator | Insurance | 1,825,000 MWK |
| Insurance Manager | Insurance | 3,421,600 MWK |
| Insurance Operations Manager | Insurance | 3,288,400 MWK |
| Insurance Policy Processing Clerk | Insurance | 741,500 MWK |
| Insurance Pricing Assistant | Insurance | 1,537,500 MWK |
| Insurance Program Manager | Insurance | 2,759,700 MWK |
| Insurance Project Manager | Insurance | 2,641,300 MWK |
| Insurance Quality Assurance Agent | Insurance | 1,800,200 MWK |
| Insurance Sales Agent | Insurance | 1,224,800 MWK |
| Insurance Sales Director | Insurance | 3,455,900 MWK |
| Insurance Sales Manager | Insurance | 2,734,500 MWK |
| Insurance Sales Representative | Insurance | 1,095,900 MWK |
| Insurance Team Leader | Insurance | 2,026,800 MWK |
| Insurance Underwriter | Insurance | 1,487,200 MWK |
| Loss Control Specialist | Insurance | 1,930,500 MWK |
| Loss Prevention Investigator | Insurance | 2,146,100 MWK |
| Loss Prevention Manager | Insurance | 2,794,600 MWK |
| Loss Prevention Specialist | Insurance | 2,100,900 MWK |
| Marine Underwriter | Insurance | 1,487,200 MWK |
| Medical Auditor | Insurance | 2,015,600 MWK |
| Monitoring and Performance Officer | Insurance | 1,391,600 MWK |
| Payment Services Specialist | Insurance | 2,065,400 MWK |
| Policy Change Director | Insurance | 3,085,500 MWK |
| Policy Change Supervisor | Insurance | 2,197,700 MWK |
| Policy Change Technician | Insurance | 1,011,500 MWK |
| Risk Analyst | Insurance | 2,242,500 MWK |
| Risk Management Director | Insurance | 3,996,300 MWK |
| Risk Management Supervisor | Insurance | 2,401,300 MWK |
| Risk Manager | Insurance | 3,685,200 MWK |
| Risk Modeling Manager | Insurance | 3,792,300 MWK |
| Title Insurance Typist | Insurance | 1,693,600 MWK |
| Training Manager | Insurance | 2,230,100 MWK |
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