Average Actuarial Analyst Salary in Ukraine for 2024

In this article, we will look at the average Actuarial Analyst salary for 2024 in Ukraine 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 Ukrainian hryvnia. To keep things simple, we are using the UAH currency code instead of the currency symbol โ‚ด.

How Much Does an Actuarial Analyst Make in Ukraine?

An Actuarial Analyst working in Ukraine will typically earn around 390,000 UAH per year, and this can range from the lowest average salary of about 192,600 UAH to the highest average salary of 612,500 UAH.

Average Annual Salary
390,000 UAH
Average Monthly Salary
32,500 UAH

Lowest Annual Salary
192,600 UAH
Lowest Monthly Salary
16,050 UAH

Highest Annual Salary
612,500 UAH
Highest Monthly Salary
51,041 UAH

These are average salaries for an Actuarial Analyst in Ukraine 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 Ukraine

So we've looked at the average salaries an Actuarial Analyst will earn in Ukraine. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that an Actuarial Analyst can earn between 192,600 UAH and 612,500 UAH on average in Ukraine. 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 Ukraine is 397,900 UAH. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 397,900 UAH, and 50% of the population earn more than 397,900 UAH.

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 Ukraine, 25% of the population are earning less than 266,000 UAH while 75% of the population earn more than 266,000 UAH.

75% of the population earn less than 516,100 UAH, and 25% of the population earn more than 516,100 UAH.

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 Ukraine

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 Ukraine that has less than two years of experience can expect to earn somewhere in the region of 227,600 UAH.
  • 2 - 5 Years Experience. With two to five years of experience the average Actuarial Analyst salary would increase to 294,700 UAH.
  • 5 - 10 Years Experience. From five to ten years of experience as an Actuarial Analyst, the average salary would be 403,100 UAH.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 500,100 UAH.
  • 15 - 20 Years Experience. An Actuarial Analyst with 15 to 20 years of experience can earn an average of 535,800 UAH.
  • 20+ Years Experience. For an Actuarial Analyst with more than 20 years, the expected average salary increases to 572,200 UAH.

Average Salary by Experience Chart

0-2 Years
227,600 UAH
2-5 Years +29%
294,700 UAH
5-10 Years +38%
403,100 UAH
10-15 Years +24%
500,100 UAH
15-20 Years +7%
535,800 UAH
20+ Years +7%
572,200 UAH

Actuarial Analyst Salary by Education Level in Ukraine

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 Ukraine 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 Ukraine with a certificate or diploma education can earn an average salary of 294,700 UAH.

  • Bachelor's Degree. An Actuarial Analyst in Ukraine with a bachelor's degree education can earn an average salary of 394,800 UAH.

  • Master's Degree. An Actuarial Analyst in Ukraine with a master's degree education can earn an average salary of 602,700 UAH.

Average Salary by Education Chart

Certificate or Diploma
294,700 UAH
Bachelor's Degree +34%
394,800 UAH
Master's Degree +53%
602,700 UAH

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 Ukraine is around 115,000 to 344,000 UAH 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 Ukraine, a male actuarial analyst will earn an average of 407,100 UAH, while a female actuarial analyst will earn around 367,200 UAH.

This means that a male actuarial analyst earns approximately 11% more than a female actuarial analyst for performing the same job.

Average Salary by Gender Chart in Ukraine

Male
407,100 UAH
Female -11%
367,200 UAH

Actuarial Analyst Average Pay Raise in Ukraine

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 Ukraine is around 11% every 19 months.

The national average pay raise across all professions and industries in Ukraine is around 8% every 18 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 = ( 11 ÷ 19 ) × 12  = 7%

What this means is that an Actuarial Analyst in Ukraine can expect to receive an average pay raise of around 7% every 12 months.

Annual Pay Raise by Industry in Ukraine for 2024

In the chart below, you can see the average annual pay raise percentages for each of the major industries in Ukraine.

You will see that companies in bigger and more lucrative industries tend to have the higher annual pay raises.

Banking
1%
Energy
2%
Information Technology
3%
Healthcare
4%
Travel
5%
Construction
6%
Education
7%

Actuarial Analyst Bonus and Incentive Rates in Ukraine

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 moderate bonus based job, with 54% of employees reporting at least one bonus in the last 12 months.

46% 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 3% to 6%.

Received Bonus
54%
No Bonus
46%

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 Ukraine earn approximately 7% more than private sector employees in the same role.

Public Sector
282,500 UAH
Private Sector -7%
263,900 UAH

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 Ukraine.

Job Title Category Salary
Actuarial Assistant Insurance 254,800 UAH
Actuarial Specialist Insurance 266,000 UAH
Actuary Insurance 369,300 UAH
Adjustment Insurance Clerk Insurance 107,680 UAH
Assistant Broker Insurance 183,600 UAH
Assistant Claims Manager Insurance 294,300 UAH
Associate Insurance Representative Insurance 138,800 UAH
Auditing Insurance Manager Insurance 433,800 UAH
Broker Insurance 288,100 UAH
Claim Advocacy Professional Insurance 286,400 UAH
Claims Adjuster Insurance 100,140 UAH
Claims Analyst Insurance 146,200 UAH
Claims Examiner Insurance 150,000 UAH
Claims Manager Insurance 415,900 UAH
Claims Processor Insurance 103,200 UAH
Claims Representative Insurance 123,400 UAH
Claims Resolution Specialist Insurance 315,900 UAH
Claims Supervisor Insurance 275,500 UAH
Complaints Specialist Insurance 267,100 UAH
Compliance Examiner Insurance 252,300 UAH
Compliance Officer Insurance 225,700 UAH
Compliance Reviewer Insurance 258,400 UAH
Consultant Insurance 266,000 UAH
Eligibility Interviewer Insurance 305,600 UAH
Eligibility Specialist Insurance 290,800 UAH
Insurance Account Manager Insurance 357,300 UAH
Insurance Accounts Executive Insurance 294,700 UAH
Insurance Adjuster Insurance 263,900 UAH
Insurance Agent Insurance 163,800 UAH
Insurance Analyst Insurance 290,800 UAH
Insurance Appraiser Insurance 288,700 UAH
Insurance Claims Clerk Insurance 98,120 UAH
Insurance Examiner Insurance 252,300 UAH
Insurance Investigator Insurance 266,000 UAH
Insurance Manager Insurance 478,000 UAH
Insurance Operations Manager Insurance 496,100 UAH
Insurance Policy Processing Clerk Insurance 109,000 UAH
Insurance Pricing Assistant Insurance 232,400 UAH
Insurance Program Manager Insurance 357,700 UAH
Insurance Project Manager Insurance 340,400 UAH
Insurance Quality Assurance Agent Insurance 252,300 UAH
Insurance Sales Agent Insurance 159,500 UAH
Insurance Sales Director Insurance 445,100 UAH
Insurance Sales Manager Insurance 367,200 UAH
Insurance Sales Representative Insurance 142,300 UAH
Insurance Team Leader Insurance 309,800 UAH
Insurance Underwriter Insurance 212,500 UAH
Loss Control Specialist Insurance 273,300 UAH
Loss Prevention Investigator Insurance 301,300 UAH
Loss Prevention Manager Insurance 390,000 UAH
Loss Prevention Specialist Insurance 294,300 UAH
Marine Underwriter Insurance 208,600 UAH
Medical Auditor Insurance 282,300 UAH
Monitoring and Performance Officer Insurance 197,600 UAH
Payment Services Specialist Insurance 288,700 UAH
Policy Change Director Insurance 428,400 UAH
Policy Change Supervisor Insurance 301,700 UAH
Policy Change Technician Insurance 138,200 UAH
Risk Analyst Insurance 308,900 UAH
Risk Management Director Insurance 545,300 UAH
Risk Management Supervisor Insurance 361,500 UAH
Risk Manager Insurance 500,100 UAH
Risk Modeling Manager Insurance 514,300 UAH
Title Insurance Typist Insurance 231,000 UAH
Training Manager Insurance 318,800 UAH

Salary Comparison by City

If you want to compare salaries with different cities in Ukraine, you can use the links below to explore the data for each specific city we have researched.

City Average Salary
Kyiv 399,900 UAH
Lviv 404,600 UAH

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