Average Actuarial Assistant Salary in Uruguay for 2024

In this article, we will look at the average Actuarial Assistant salary for 2024 in Uruguay 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 Uruguayan peso. To keep things simple, we are using the UYU currency code instead of the currency symbol $.

How Much Does an Actuarial Assistant Make in Uruguay?

An Actuarial Assistant working in Uruguay will typically earn around 369,900 UYU per year, and this can range from the lowest average salary of about 181,600 UYU to the highest average salary of 574,200 UYU.

Average Annual Salary
369,900 UYU
Average Monthly Salary
30,825 UYU

Lowest Annual Salary
181,600 UYU
Lowest Monthly Salary
15,133 UYU

Highest Annual Salary
574,200 UYU
Highest Monthly Salary
47,850 UYU

These are average salaries for an Actuarial Assistant in Uruguay and include benefits such as housing and transport. It's also possible for an Actuarial Assistant to earn more or less than the average salaries shown above.

Actuarial Assistant 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 Assistant Salaries in Uruguay

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

Salary ranges

We already know that an Actuarial Assistant can earn between 181,600 UYU and 574,200 UYU on average in Uruguay. 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 Assistant in Uruguay is 377,200 UYU. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 377,200 UYU, and 50% of the population earn more than 377,200 UYU.

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 Assistant salary in Uruguay, 25% of the population are earning less than 249,600 UYU while 75% of the population earn more than 249,600 UYU.

75% of the population earn less than 485,200 UYU, and 25% of the population earn more than 485,200 UYU.

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 Assistant Salary by Experience Level in Uruguay

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 assistant 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 Assistant in Uruguay that has less than two years of experience can expect to earn somewhere in the region of 214,000 UYU.
  • 2 - 5 Years Experience. With two to five years of experience the average Actuarial Assistant salary would increase to 275,800 UYU.
  • 5 - 10 Years Experience. From five to ten years of experience as an Actuarial Assistant, the average salary would be 381,800 UYU.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 472,100 UYU.
  • 15 - 20 Years Experience. An Actuarial Assistant with 15 to 20 years of experience can earn an average of 504,300 UYU.
  • 20+ Years Experience. For an Actuarial Assistant with more than 20 years, the expected average salary increases to 539,800 UYU.

Average Salary by Experience Chart

0-2 Years
214,000 UYU
2-5 Years +29%
275,800 UYU
5-10 Years +38%
381,800 UYU
10-15 Years +24%
472,100 UYU
15-20 Years +7%
504,300 UYU
20+ Years +7%
539,800 UYU

Actuarial Assistant Salary by Education Level in Uruguay

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 Assistant in Uruguay 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 Assistant in Uruguay with a certificate or diploma education can earn an average salary of 301,700 UYU.

  • Bachelor's Degree. An Actuarial Assistant in Uruguay with a bachelor's degree education can earn an average salary of 464,900 UYU.

Average Salary by Education Chart

Certificate or Diploma
301,700 UYU
Bachelor's Degree +53%
464,900 UYU

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 Uruguay is around 165,000 to 494,000 UYU 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 Assistant 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 Uruguay, a male actuarial assistant will earn an average of 381,800 UYU, while a female actuarial assistant will earn around 353,600 UYU.

This means that a male actuarial assistant earns approximately 8% more than a female actuarial assistant for performing the same job.

Average Salary by Gender Chart in Uruguay

Male
381,800 UYU
Female -8%
353,600 UYU

Actuarial Assistant Average Pay Raise in Uruguay

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 Assistant in Uruguay is around 10% every 19 months.

The national average pay raise across all professions and industries in Uruguay is around 7% every 19 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 = ( 10 ÷ 19 ) × 12  = 6%

What this means is that an Actuarial Assistant in Uruguay can expect to receive an average pay raise of around 6% every 12 months.

Annual Pay Raise by Industry in Uruguay for 2024

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

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

Banking
6%
Energy
3%
Information Technology
9%
Healthcare
6%
Travel
3%
Construction
9%
Education
6%

Actuarial Assistant Bonus and Incentive Rates in Uruguay

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 Assistant is a low bonus based job, with 28% of employees reporting at least one bonus in the last 12 months.

72% 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 0% to 4%.

Received Bonus
28%
No Bonus
72%

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 Uruguay earn approximately 8% more than private sector employees in the same role.

Public Sector
409,000 UYU
Private Sector -8%
377,200 UYU

Salaries for Jobs Similar to an Actuarial Assistant

In the table below, we have salary information for jobs that are similar to an Actuarial Assistant in Uruguay.

Job Title Category Salary
Actuarial Analyst Insurance 562,200 UYU
Actuarial Specialist Insurance 385,300 UYU
Actuary Insurance 514,800 UYU
Adjustment Insurance Clerk Insurance 152,100 UYU
Assistant Broker Insurance 252,300 UYU
Assistant Claims Manager Insurance 455,400 UYU
Associate Insurance Representative Insurance 205,700 UYU
Auditing Insurance Manager Insurance 625,000 UYU
Broker Insurance 389,200 UYU
Claim Advocacy Professional Insurance 394,800 UYU
Claims Adjuster Insurance 148,300 UYU
Claims Analyst Insurance 209,500 UYU
Claims Examiner Insurance 216,800 UYU
Claims Manager Insurance 547,800 UYU
Claims Processor Insurance 151,800 UYU
Claims Representative Insurance 174,000 UYU
Claims Resolution Specialist Insurance 433,800 UYU
Claims Supervisor Insurance 411,400 UYU
Complaints Specialist Insurance 357,700 UYU
Compliance Examiner Insurance 376,800 UYU
Compliance Officer Insurance 308,300 UYU
Compliance Reviewer Insurance 383,300 UYU
Consultant Insurance 394,300 UYU
Eligibility Interviewer Insurance 424,300 UYU
Eligibility Specialist Insurance 386,400 UYU
Insurance Account Manager Insurance 514,800 UYU
Insurance Accounts Executive Insurance 445,100 UYU
Insurance Adjuster Insurance 394,800 UYU
Insurance Agent Insurance 239,300 UYU
Insurance Analyst Insurance 390,000 UYU
Insurance Appraiser Insurance 392,300 UYU
Insurance Claims Clerk Insurance 151,800 UYU
Insurance Examiner Insurance 383,300 UYU
Insurance Investigator Insurance 366,200 UYU
Insurance Manager Insurance 684,900 UYU
Insurance Operations Manager Insurance 695,200 UYU
Insurance Policy Processing Clerk Insurance 150,000 UYU
Insurance Pricing Assistant Insurance 320,500 UYU
Insurance Program Manager Insurance 545,300 UYU
Insurance Project Manager Insurance 501,400 UYU
Insurance Quality Assurance Agent Insurance 335,800 UYU
Insurance Sales Agent Insurance 246,200 UYU
Insurance Sales Director Insurance 643,400 UYU
Insurance Sales Manager Insurance 524,700 UYU
Insurance Sales Representative Insurance 200,000 UYU
Insurance Team Leader Insurance 437,300 UYU
Insurance Underwriter Insurance 292,000 UYU
Loss Control Specialist Insurance 384,500 UYU
Loss Prevention Investigator Insurance 426,700 UYU
Loss Prevention Manager Insurance 558,300 UYU
Loss Prevention Specialist Insurance 420,800 UYU
Marine Underwriter Insurance 309,800 UYU
Medical Auditor Insurance 403,100 UYU
Monitoring and Performance Officer Insurance 292,000 UYU
Payment Services Specialist Insurance 414,000 UYU
Policy Change Director Insurance 642,800 UYU
Policy Change Supervisor Insurance 413,900 UYU
Policy Change Technician Insurance 192,600 UYU
Risk Analyst Insurance 471,700 UYU
Risk Management Director Insurance 759,300 UYU
Risk Management Supervisor Insurance 507,300 UYU
Risk Manager Insurance 778,500 UYU
Risk Modeling Manager Insurance 727,400 UYU
Title Insurance Typist Insurance 357,700 UYU
Training Manager Insurance 442,300 UYU

Salary Comparison by City

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

City Average Salary
Montevideo 425,100 UYU

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