Actuarial Analyst 2 pay range
State of Washington · class code 503B
- Class code
- 503B
- Salary range
- 56
- Pay unit
- Year
- State
- Washington
- The State of Washington published pay range for Actuarial Analyst 2 is $64,512 to $86,688 per year.
- Washington State Office of Financial Management (OFM) keys this classification as class code 503B.
- This is the range the plan authorises, not the salary of any individual employee.
Step progression
Washington State Office of Financial Management (OFM) assigns this class to salary range 56 in the General Service Salary Schedule. The range pays 13 steps; a step is normally earned on a periodic increment date, not negotiated.
| Basis | A | B | C | D | E | F | G | H | I | J | K | L | M |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Annual | $64,512 | $66,072 | $67,704 | $69,348 | $71,136 | $72,900 | $74,748 | $76,608 | $78,504 | $80,496 | $82,440 | $84,528 | $86,688 |
| Monthly | $5,376 | $5,506 | $5,642 | $5,779 | $5,928 | $6,075 | $6,229 | $6,384 | $6,542 | $6,708 | $6,870 | $7,044 | $7,224 |
| Hourly | $30.90 | $31.64 | $32.43 | $33.21 | $34.07 | $34.91 | $35.80 | $36.69 | $37.60 | $38.55 | $39.48 | $40.48 | $41.52 |
Steps as published. The monthly and hourly rows are the state's own, not conversions of the annual row.
Class specification
The OFM classified job specification for this class is published by Washington State Office of Financial Management (OFM). The passages below are quoted from it as published, not paraphrased, and cut to their opening sentences; the full specification is the authority on duties and qualifications.
What the state says the job is
Positions independently perform complex actuarial calculations for property and casualty, life and disability, or health care insurance. Assist with analysis in rate-making, pricing, reserving, and management reporting. Reviews and approves or disapproves insurers' rate and form filings and/or provides technical assistance to financial examiners in review of reserves and other actuarial elements of financial reporting by regulated entities. For property and casualty, complex calculations include classification rating, checking economic indices, estimating credibility parameters, experience rating, estimating cost of capital, claims-made rate making, forecasting, using life annuity tables, multivariate regression, retrospective rating, fitting size of loss distributions, estimating the variability of aggregate losses, and using wage tables.
Examples of the work
Performs complex actuarial calculations; Performs actuarial analysis in estimating liabilities in losses, loss adjustment expenses, and retrospective rating return premiums; Performs analysis in rate-making for classification rating, experience rating, and retrospective rating; Performs analysis of loss adjustment and underwriting expenses; Performs analysis of group of insured; Produces management reports; Tests quality of data; Consults with internal and external customers; Reviews actuarial analysis of actuarial staff; May supervise lower level staff.
Minimum qualifications
Positions typically require a Bachelor's degree in actuarial science, mathematics, statistics, engineering, physical science, economics, or equivalent field, And, for property and casualty, successful completion of two Casualty Actuarial Society (CAS) examinations and eighteen months of property and/or casualty actuarial experience. Or, for life and disability, and for health care, successful completion of two courses of the Society of Actuaries (SOA) and eighteen months of life and disability or health actuarial experience.
Quoted from the OFM classified job specification, read 2026-10-21.
Where this comes from
Washington State Office of Financial Management (OFM) publishes this figure in Classified Job Listing joined to the OFM salary schedules effective July 1, 2026. Every number on this page is read from that document; nothing is estimated, modelled or averaged.
The dollar figures come from the salary schedule the listing assigns this range to.