Society of Actuaries (SOA) 2025: Membership Costs, Exam Pass Rates & Career Insights

Julia Kagan is an experienced financial and consumer journalist and former senior editor for personal finance at Investopedia.

What Is the Society of Actuaries (SOA)?

The Society of Actuaries (SOA) stands as a leading international professional body dedicated to actuaries, providing comprehensive education, rigorous exams, cutting-edge research, and valuable career resources. Established in the 1800s, the SOA today represents over 31,000 members worldwide, making it the largest actuarial organization globally.

Key Highlights

• SOA is a global hub for actuaries offering extensive professional development and educational resources.
• Founded in the 19th century, it has grown to 31,000+ members, the largest association of its kind.
• Focuses on advancing actuarial science through research, education, and maintaining high professional standards.
• Actuaries analyze risks using advanced data modeling across diverse industries including insurance, finance, healthcare, and technology.
• Members benefit from certifications, seminars, publications, podcasts, mentorship, and continuing education.

Understanding the Role and Mission of SOA

The SOA emphasizes actuarial research, professional education, and ethical standards. Its members possess expertise in mathematics, statistics, and business management, applying these skills in sectors such as life and health insurance, banking, investments, government, energy, e-commerce, marketing, employee benefits, risk management, predictive analytics, and consulting.

Actuaries leverage data analytics and modeling to assess risks, identify predictive trends, inform policy decisions, and provide strategic business guidance. The SOA’s mission is to advance actuarial knowledge and empower professionals to deliver expert advice addressing complex financial, business, and societal risks. The vision is for actuaries to be recognized leaders in risk measurement and management worldwide.

Membership Overview & Fees

As of 2024, the SOA boasts over 31,000 members: approximately 20,550 in the U.S., 5,139 in Canada, 4,288 in Asia-Pacific, and others globally. There are also more than 41,000 candidates actively pursuing actuarial credentials.

Annual dues vary by membership type and location. For fellows and associates who joined before 2018, fees are around $670 for non-U.S. residents and $725 for U.S. residents, with optional section dues ranging from $20 to $40 based on interests.

SOA Activities and Educational Opportunities

The SOA offers a vast array of resources including global networking events, seminars, and conferences covering topics from annuities and enterprise risk to life insurance and predictive analytics.

Members can access courses through in-person sessions, webcasts, e-learning platforms, and archived recordings. The SOA Research Institute provides cutting-edge studies on strategic and emerging actuarial topics.

Additional support comes from podcasts, publications, mentorship programs, and specialized education pathways like the Chartered Enterprise Risk Analyst (CERA) designation.

The SOA continuously evaluates industry trends, including the impact of data science, artificial intelligence, diversity and inclusion, and evolving skill requirements to keep members at the forefront of the profession.

Actuarial Exam Pass Rates & Structure

Initial actuarial exams are challenging three-hour tests consisting of 30-35 multiple-choice questions, with pass rates typically between 30% and 40%.

The Seven Core Actuarial Exams

Prospective actuaries must pass these seven preliminary exams: Exam P (Probability), Exam FM (Financial Mathematics), Exam IFM (Investment and Financial Markets), Exam SRM (Statistics for Risk Modeling), Exam STAM (Short-Term Actuarial Mathematics), Exam LTAM (Long-Term Actuarial Mathematics), and Exam PA (Predictive Analytics).

Actuary Salary Insights in 2024

The average annual salary for an actuary in the U.S. is approximately $124,879, with entry-level positions starting near $82,000 and senior roles reaching up to $190,000. Salaries vary based on location, employer, specialization, and experience level.

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