Average Actuary Salary in Syria for 2024

In this article, we will look at the average Actuary salary for 2024 in Syria 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 Syrian pound. To keep things simple, we are using the SYP currency code instead of the currency symbol £.

How Much Does an Actuary Make in Syria?

An Actuary working in Syria will typically earn around 2,374,400 SYP per year, and this can range from the lowest average salary of about 1,113,100 SYP to the highest average salary of 3,745,100 SYP.

Average Annual Salary
2,374,400 SYP
Average Monthly Salary
197,866 SYP

Lowest Annual Salary
1,113,100 SYP
Lowest Monthly Salary
92,758 SYP

Highest Annual Salary
3,745,100 SYP
Highest Monthly Salary
312,091 SYP

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

Actuary 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 Actuary Salaries in Syria

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

Salary ranges

We already know that an Actuary can earn between 1,113,100 SYP and 3,745,100 SYP on average in Syria. 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 Actuary in Syria is 2,519,500 SYP. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 2,519,500 SYP, and 50% of the population earn more than 2,519,500 SYP.

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 Actuary salary in Syria, 25% of the population are earning less than 1,632,100 SYP while 75% of the population earn more than 1,632,100 SYP.

75% of the population earn less than 3,323,300 SYP, and 25% of the population earn more than 3,323,300 SYP.

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.

Actuary Salary by Experience Level in Syria

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 actuary 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 Actuary in Syria that has less than two years of experience can expect to earn somewhere in the region of 1,283,600 SYP.
  • 2 - 5 Years Experience. With two to five years of experience the average Actuary salary would increase to 1,777,700 SYP.
  • 5 - 10 Years Experience. From five to ten years of experience as an Actuary, the average salary would be 2,519,500 SYP.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 3,071,100 SYP.
  • 15 - 20 Years Experience. An Actuary with 15 to 20 years of experience can earn an average of 3,253,900 SYP.
  • 20+ Years Experience. For an Actuary with more than 20 years, the expected average salary increases to 3,539,100 SYP.

Average Salary by Experience Chart

0-2 Years
1,283,600 SYP
2-5 Years +38%
1,777,700 SYP
5-10 Years +42%
2,519,500 SYP
10-15 Years +22%
3,071,100 SYP
15-20 Years +6%
3,253,900 SYP
20+ Years +9%
3,539,100 SYP

Actuary Salary by Education Level in Syria

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 Actuary in Syria based on the education level of the employees in order to find out whether a better education level would increase your salary.

  • Bachelor's Degree. An Actuary in Syria with a bachelor's degree education can earn an average salary of 1,777,700 SYP.

  • Master's Degree. An Actuary in Syria with a master's degree education can earn an average salary of 3,253,900 SYP.

Average Salary by Education Chart

Bachelor's Degree
1,777,700 SYP
Master's Degree +83%
3,253,900 SYP

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 Syria is around 743,000 to 2,230,000 SYP 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.

Actuary 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 Syria, a male actuary will earn an average of 2,579,200 SYP, while a female actuary will earn around 2,207,600 SYP.

This means that a male actuary earns approximately 17% more than a female actuary for performing the same job.

Average Salary by Gender Chart in Syria

Male
2,579,200 SYP
Female -17%
2,207,600 SYP

Actuary Average Pay Raise in Syria

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 Actuary in Syria is around 7% every 30 months.

The national average pay raise across all professions and industries in Syria 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 Actuary in Syria can expect to receive an average pay raise of around 3% every 12 months.

Annual Pay Raise by Industry in Syria for 2024

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

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

Banking
4%
Energy
8%
Information Technology
3%
Healthcare
7%
Travel
2%
Construction
6%
Education
1%

Actuary Bonus and Incentive Rates in Syria

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 Actuary is a low bonus based job, with 41% of employees reporting at least one bonus in the last 12 months.

59% 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
41%
No Bonus
59%

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 Syria earn approximately 21% more than private sector employees in the same role.

Public Sector
1,955,300 SYP
Private Sector -21%
1,621,400 SYP

Salaries for Jobs Similar to an Actuary

In the table below, we have salary information for jobs that are similar to an Actuary in Syria.

Job Title Category Salary
Actuarial Analyst Insurance 2,533,800 SYP
Actuarial Assistant Insurance 1,800,200 SYP
Actuarial Specialist Insurance 1,846,200 SYP
Adjustment Insurance Clerk Insurance 696,700 SYP
Assistant Broker Insurance 1,166,500 SYP
Assistant Claims Manager Insurance 2,052,200 SYP
Associate Insurance Representative Insurance 960,900 SYP
Auditing Insurance Manager Insurance 2,819,600 SYP
Broker Insurance 1,788,300 SYP
Claim Advocacy Professional Insurance 1,777,700 SYP
Claims Adjuster Insurance 712,100 SYP
Claims Analyst Insurance 1,006,300 SYP
Claims Examiner Insurance 922,900 SYP
Claims Manager Insurance 2,533,800 SYP
Claims Processor Insurance 674,100 SYP
Claims Representative Insurance 802,400 SYP
Claims Resolution Specialist Insurance 1,921,500 SYP
Claims Supervisor Insurance 1,811,000 SYP
Complaints Specialist Insurance 1,751,700 SYP
Compliance Examiner Insurance 1,835,700 SYP
Compliance Officer Insurance 1,487,200 SYP
Compliance Reviewer Insurance 1,655,500 SYP
Consultant Insurance 1,930,500 SYP
Eligibility Interviewer Insurance 1,990,300 SYP
Eligibility Specialist Insurance 1,858,200 SYP
Insurance Account Manager Insurance 2,242,500 SYP
Insurance Accounts Executive Insurance 1,967,000 SYP
Insurance Adjuster Insurance 1,668,900 SYP
Insurance Agent Insurance 1,109,200 SYP
Insurance Analyst Insurance 1,835,700 SYP
Insurance Appraiser Insurance 1,846,200 SYP
Insurance Claims Clerk Insurance 691,200 SYP
Insurance Examiner Insurance 1,716,600 SYP
Insurance Investigator Insurance 1,788,300 SYP
Insurance Manager Insurance 3,144,700 SYP
Insurance Operations Manager Insurance 3,132,800 SYP
Insurance Policy Processing Clerk Insurance 714,600 SYP
Insurance Pricing Assistant Insurance 1,391,600 SYP
Insurance Program Manager Insurance 2,362,300 SYP
Insurance Project Manager Insurance 2,460,900 SYP
Insurance Quality Assurance Agent Insurance 1,547,500 SYP
Insurance Sales Agent Insurance 1,152,700 SYP
Insurance Sales Director Insurance 3,132,800 SYP
Insurance Sales Manager Insurance 2,460,900 SYP
Insurance Sales Representative Insurance 922,300 SYP
Insurance Team Leader Insurance 1,896,700 SYP
Insurance Underwriter Insurance 1,306,100 SYP
Loss Control Specialist Insurance 1,846,200 SYP
Loss Prevention Investigator Insurance 2,003,200 SYP
Loss Prevention Manager Insurance 2,566,100 SYP
Loss Prevention Specialist Insurance 1,896,700 SYP
Marine Underwriter Insurance 1,369,700 SYP
Medical Auditor Insurance 1,858,200 SYP
Monitoring and Performance Officer Insurance 1,345,400 SYP
Payment Services Specialist Insurance 1,930,500 SYP
Policy Change Director Insurance 2,953,200 SYP
Policy Change Supervisor Insurance 2,065,400 SYP
Policy Change Technician Insurance 934,900 SYP
Risk Analyst Insurance 1,990,300 SYP
Risk Management Director Insurance 3,503,800 SYP
Risk Management Supervisor Insurance 2,281,800 SYP
Risk Manager Insurance 3,444,200 SYP
Risk Modeling Manager Insurance 3,481,100 SYP
Title Insurance Typist Insurance 1,583,700 SYP
Training Manager Insurance 2,038,500 SYP

Salary Comparison by City

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

City Average Salary
Damascus 2,773,700 SYP

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