How much do actuaries make?

Actuary salary 2026 · BLS occupation: Actuaries (SOC 15-2011) · Updated October 28, 2026

Answer

Actuaries in the US earned a median of $130,000 a year ($62.50 an hour) in May 2025, according to the Bureau of Labor Statistics. The middle half earned $97,680 to $170,650.

Median annual pay: $130,000; Mean $141,480
Median hourly pay: $62.50; Mean $68.02
Typical range (10th–90th): $78.6K–$215K; $78,570 to $215,100
US jobs: 26,670; +9.2% projected, 2025–35

BLS OEWS, May 2025, released April 30, 2026. Wages include tips, commissions and production bonuses but not overtime premiums, shift differentials, other bonuses or benefits; self-employed workers are not included. Methodology

How to become an actuary: steps, years and cost · Best-paying state after cost of living: Connecticut

Actuary pay range

Annual wages, May 2025

10th percentile$78,570
25th percentile$97,680
Median$130,000
75th percentile$170,650
90th percentile$215,100

Half of all actuaries earned more than $130,000 and half earned less. The lowest-paid 10% made under $78,570; the top 10% made over $215,100. The middle 50%, from the 25th to the 75th percentile, ran from $97,680 to $170,650.

These percentiles describe everyone in the occupation at one time. They are not pay steps by years of experience: they mix new and senior workers, different states, employers and hours. Pay generally rises with experience, credentials and specialization, but BLS does not publish pay by experience.

Percentile	Annual	Hourly	Monthly
10th	$78,570	$37.77	$6,548
25th	$97,680	$46.96	$8,140
Median (50th)	$130,000	$62.50	$10,833
75th	$170,650	$82.04	$14,221
90th	$215,100	$103.41	$17,925
Mean (average)	$141,480	$68.02	$11,790

Actuary salary by state

Median annual pay; cost of living from BEA regional price parities 2024

Median annual pay for actuaries by state. Darker tiles pay more. A dash means BLS did not publish a figure.

Highest-paying states

1. Connecticut $166,800
2. District of Columbia $166,230
3. New York $156,480
4. New Jersey $142,800
5. Alabama $136,950

Lowest-paying states

36. Louisiana $80,860
35. Michigan $100,640
34. Indiana $100,690
33. Nebraska $102,790
32. Texas $105,020

Best after cost of living: Connecticut. Its median of $166,800 is worth about $160,988 at national-average prices.


Alabama	$136,950	5	$154,183	2	$65.84	190	0.09
Alaska	—	—	—	—	—	—	—
Arizona	$135,870	6	$134,956	10	$65.32	200	0.06
Arkansas	—	—	—	—	—	—	—
California	$130,510	13	$117,874	28	$62.75	1,280	0.07
Colorado	$120,440	23	$116,873	29	$57.91	500	0.17
Connecticut	$166,800	1	$160,988	1	$80.19	1,380	0.82
Delaware	—	—	—	—	—	—	—
District of Columbia	$166,230	2	$151,254	3	$79.92	160	0.22
Florida	$132,110	10	$127,749	18	$63.51	1,300	0.13
Georgia	—	—	—	—	—	1,470	0.30
Hawaii	—	—	—	—	—	30	0.05
Idaho	—	—	—	—	—	—	—
Illinois	$115,430	26	$115,479	30	$55.50	2,280	0.37
Indiana	$100,690	34	$107,887	34	$48.41	780	0.24
Iowa	$128,690	17	$146,635	4	$61.87	530	0.34
Kansas	$125,010	22	$138,795	8	$60.10	180	0.12
Kentucky	$120,400	24	$133,542	12	$57.89	70	0.04
Louisiana	$80,860	36	$91,671	36	$38.88	40	0.02
Maine	$119,620	25	$123,256	22	$57.51	80	0.12
Maryland	$126,950	19	$120,952	24	$61.04	580	0.21
Massachusetts	$126,040	20	$119,179	26	$60.60	—	—
Michigan	$100,640	35	$104,597	35	$48.38	570	0.13
Minnesota	$128,100	18	$129,891	16	$61.59	1,170	0.40
Mississippi	$106,210	31	$122,146	23	$51.06	40	0.04
Missouri	$129,220	15	$142,286	6	$62.13	390	0.13
Montana	—	—	—	—	—	—	—
Nebraska	$102,790	33	$114,081	31	$49.42	270	0.26
Nevada	$132,370	9	$132,398	13	$63.64	120	0.08
New Hampshire	—	—	—	—	—	—	—
New Jersey	$142,800	4	$131,244	14	$68.65	1,260	0.29
New Mexico	—	—	—	—	—	—	—
New York	$156,480	3	$144,995	5	$75.23	2,630	0.27
North Carolina	$128,730	16	$136,474	9	$61.89	610	0.12
North Dakota	—	—	—	—	—	—	—
Ohio	$110,980	28	$119,624	25	$53.36	1,090	0.20
Oklahoma	$109,760	29	$124,950	21	$52.77	70	0.04
Oregon	$130,380	14	$126,140	19	$62.68	210	0.11
Pennsylvania	$125,040	21	$128,152	17	$60.12	1,710	0.28
Rhode Island	$111,090	27	$108,614	32	$53.41	100	0.21
South Carolina	—	—	—	—	—	140	0.06
South Dakota	—	—	—	—	—	—	—
Tennessee	$108,930	30	$118,570	27	$52.37	300	0.09
Texas	$105,020	32	$108,204	33	$50.49	1,750	0.12
Utah	$132,720	8	$134,245	11	$63.81	180	0.10
Vermont	—	—	—	—	—	—	—
Virginia	$131,900	11	$130,460	15	$63.42	440	0.11
Washington	$134,720	7	$125,891	20	$64.77	360	0.10
West Virginia	—	—	—	—	—	—	—
Wisconsin	$131,640	12	$139,901	7	$63.29	890	0.30
Wyoming	—	—	—	—	—	—	—

BLS OEWS, May 2025, state estimates. Adjusted pay = median ÷ (state price level ÷ 100), using BEA regional price parities for 2024; it ignores taxes. Figures for states with few workers in the occupation have larger survey errors and can change sharply from one year to the next. “—” means BLS did not publish the figure (15 states). State names link to each state’s highest-paying jobs.

Best-paying metro areas for actuaries

71 metro areas with published pay

Highest median pay
Metro area	Median	Adjusted	Jobs
Bridgeport-Stamford-Danbury, CT	$194,130	$181,661	220
San Francisco-Oakland-Fremont, CA	$175,330	$151,652	220
Hartford-West Hartford-East Hartford, CT	$166,800	$162,342	960
Las Vegas-Henderson-North Las Vegas, NV	$163,350	$163,000	80
New York-Newark-Jersey City, NY-NJ	$161,460	$143,440	2,780
Washington-Arlington-Alexandria, DC-VA-MD-WV	$144,680	$132,875	520
Waterbury-Shelton, CT	$143,430	$143,749	30
Raleigh-Cary, NC	$142,180	$144,850	120
New Haven, CT	$141,020	$134,871	40
Miami-Fort Lauderdale-West Palm Beach, FL	$139,810	$122,474	310

Most jobs
Metro area	Jobs	Median	Adjusted
New York-Newark-Jersey City, NY-NJ	2,780	$161,460	$143,440
Chicago-Naperville-Elgin, IL-IN	1,560	$113,730	$109,783
Atlanta-Sandy Springs-Roswell, GA	1,200	—	—
Minneapolis-St. Paul-Bloomington, MN-WI	1,020	$125,960	$120,166
Hartford-West Hartford-East Hartford, CT	960	$166,800	$162,342
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	780	$127,770	$124,588
Washington-Arlington-Alexandria, DC-VA-MD-WV	520	$144,680	$132,875
Dallas-Fort Worth-Arlington, TX	510	$127,690	$123,863
Indianapolis-Carmel-Greenwood, IN	490	$101,040	$105,584
Denver-Aurora-Centennial, CO	400	$120,440	$113,857

BLS OEWS, May 2025, metropolitan statistical areas; adjusted with BEA metro price parities (2024).

What moves actuary pay: employers and settings

The biggest pay driver for actuaries is how far they are through the professional exams. Employers commonly give raises or bonuses for each exam passed, and associates and fellows earn far more than trainees. Pay spans from $78,570, the 10th percentile, to $215,100, the 90th, and much of that gap reflects credentials and responsibility, not only years on the job.

Employer type matters as well. Insurance agencies and brokerages pay a median of $141,200 and accounting firms $138,010. Insurance carriers, the largest employer, pay $129,230 and consulting firms $120,150. State government agencies pay less, at $111,890. The few federal actuaries earn a median of $166,230; there are only about 270 of them.

Location follows the insurance industry. Connecticut leads at $166,800, and the District of Columbia comes next at $166,230, followed by New York at $156,480, New Jersey at $142,800, and Alabama at $136,950. Connecticut is also first after living costs ($160,988 adjusted). Louisiana is lowest at $80,860.

Where actuaries work
Industry	Share of jobs	Median pay
Insurance Carriers	50.6%	$129,230
Agencies, Brokerages, and Other Insurance Related Activities	22.3%	$141,200
Management, Scientific, and Technical Consulting Services	10.8%	$120,150
Management of Companies and Enterprises	4.3%	$129,810
Accounting, Tax Preparation, Bookkeeping, and Payroll Services	1.9%	$138,010
State Government, excluding Schools and Hospitals	1.7%	$111,890

Private employers and government
Employer type	Jobs	Median pay
Private employers	25,670	$130,160
Federal government (incl. Postal Service)	270	$166,230
State government (incl. schools and hospitals)	610	$102,820
Local government (incl. schools and hospitals)	120	$107,340

BLS OEWS, May 2025, national industry-specific and ownership estimates (4-digit NAICS).

Actuary pay over time

Median annual pay, 2015–2025

$130K $97.1K

2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025

Nominal median (dollars of each year)In May 2025 dollars (adjusted with CPI-U)

The median rose from $97,070 in 2015 to $130,000 in 2025, up 34% in nominal dollars. After inflation, the 2015 median is worth $131,219 in May 2025 dollars, so real pay was about flat over the period.

BLS OEWS, May 2025 and earlier May releases; inflation from the CPI-U, US city average, May of each year.

What actuaries do

An actuary puts a price on risk. Using statistics, probability and financial math, actuaries estimate how likely events such as deaths, illnesses, car crashes, storms or market drops are, and what they will cost. Insurers use that work to set premiums and decide how much money to hold in reserve for future claims; employers use it to fund pension plans; and companies use it to manage their own financial risks.

Half of all actuaries work for insurance carriers, and another fifth work for insurance agencies, brokerages and related firms. Others are at consulting firms that advise employers on health and retirement benefits, at accounting firms, and in state insurance departments that review rates. Actuaries usually specialize in one practice area: life and annuities, health, retirement benefits, or property and casualty. Most of the work is at a computer, building models in spreadsheets, SQL, R or Python, then explaining the results to underwriters, finance staff, executives and regulators. Most work full time in offices or hybrid setups, some regularly work more than 40 hours a week, and consultants travel to meet clients.

A typical day

Pull and clean claims, policy and mortality data so it can be modeled
Build models that predict how often claims will happen and how much they will cost
Set or test premium rates for new and existing insurance products
Estimate the reserves a company must hold for claims that have not been paid yet
Value pension and retiree health plans and calculate what employers must contribute
Write reports and charts that explain results to managers and state regulators
Study for the next professional exam, often on paid study time

Also called: actuaries, actuarial analyst, actuarial associate, actuarial consultant, consulting actuary, health actuary, life actuary, pricing actuary.

How to become an actuary

Full guide

To become an actuary, earn a bachelor's degree in actuarial science, math, statistics or another quantitative field, pass one or two professional exams such as SOA Exam P and FM, and get hired as an actuarial analyst. Reaching associate level (ASA or ACAS) usually takes several years of exams while working.

Typical time: 4 years of college plus up to 7 years to associate (ASA or ACAS); Fastest: 4 years to an entry-level job
Minimum education: Bachelor's degree in actuarial science, mathematics, statistics, economics or a related quantitative field
License: Not licensed by states; professional credentials (SOA or CAS) are the standard, and pension actuaries who certify certain plans must be enrolled by the federal Joint Board for the Enrollment of Actuaries
Typical training cost: $47.1K–$55.1K; See the guide for what it includes

Read the step-by-step guide to becoming an actuary: each step with its time and cost, education options, exams, licensing and advancement.

Is it worth it? Training cost against pay

Compare careers

Training time: 4 years of college plus up to 7 years to associate (ASA or ACAS); Typical path in our guide
Training cost: $47.1K–$55.1K; Tuition and exam fees, before aid
Median pay: $130,000; $79,020 above the all-jobs median ($50,980)
Cost vs. one year's pay: 36–42%; Training cost as a share of a year at the median

Once qualified, the pay difference over the typical US job at the median ($79,020 a year before tax) would repay the training cost in less than a year after training ends (4 years of college plus up to 7 years to associate (asa or acas) in our guide). This is a rough guide: it ignores taxes, financial aid, interest, earnings given up while training and how pay changes over a career. How we calculate ROI.

Job outlook for actuaries

BLS Employment Projections 2025–35

Projected growth: +9.2%; All occupations +3.5%
Jobs in 2025: 31,200; 34,100 projected for 2035
Openings each year: 1,500; New jobs plus replacements
Self-employed: —; Not in the pay figures above

BLS projects actuary jobs to grow 9.2% from 2025 to 2035, from 31,200 to 34,100, much faster than the 3.5% average for all jobs. That works out to about 1,500 openings a year, a small number because the field itself is small. Growth comes from insurers pricing new risks and handling much larger data sets, health insurers adjusting to rule changes and new markets, and more companies using actuaries for enterprise risk management. Most openings will come from replacing actuaries who retire or move to other occupations.

Related careers and their pay

Related occupations from O*NET 31.0; median annual pay from BLS OEWS, May 2025.

Actuary salary FAQ

How much do actuaries make an hour?

The median hourly wage for actuaries was $62.50 in May 2025. The lowest-paid 10% earned less than $37.77 an hour and the highest-paid 10% more than $103.41. Hourly figures are BLS estimates for all workers in the occupation, full-time and part-time.

Which state pays actuaries the most?

Connecticut has the highest median pay for actuaries, $166,800 a year, followed by District of Columbia ($166,230) and New York ($156,480). After adjusting for each state's price level, Connecticut comes out ahead at about $160,988 in national-average dollars.

Do actuaries make $200,000 a year?

Some do: based on the BLS percentiles, between 10% and 25% of actuaries earn more than $200,000 a year. The median is $130,000, and the top 10% earn more than $215,100. Pay generally rises with experience, specialization and location.

How many exams do you need to become an actuary?

It depends on the credential. The Society of Actuaries' ASA requires six exams (P, FM, FAM, ALTAM or ASTAM, SRM and PA), plus e-learning modules, an assessment, three VEE topics and a professionalism course. The Casualty Actuarial Society's ACAS requires Exams 1 and 2, MAS-I, MAS-II, 5, 6 and the two-part PCPA. Fellowship adds more exams or modules on top.

What is the difference between an ASA and an FSA?

ASA (Associate of the Society of Actuaries) is the first professional credential and shows you have the core math, statistics and practice knowledge. FSA (Fellow) is the highest SOA credential and adds advanced study in a specialty track such as life, health or retirement. BLS notes that reaching associate level can take up to 7 years, and fellowship takes several more.

Do actuaries work from home?

Many do, at least part of the week. Actuarial work is done on computers with data and models, so insurers and consulting firms often allow hybrid schedules. Entry-level actuaries may be expected in the office more often for training and mentoring, and consulting actuaries still meet clients in person.

Sources

Data updated October 28, 2026 · Text checked against its sources October 28, 2026

U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS), May 2025 estimates, released April 30, 2026, SOC 15-2011
U.S. Bureau of Labor Statistics, Employment Projections 2025–2035, released September 2026
O*NET 31.0 Database (15-2011.00), U.S. Department of Labor, Employment and Training Administration (USDOL/ETA), used under CC BY 4.0; tasks rewritten by Careers and Salaries
U.S. Bureau of Economic Analysis, Regional Price Parities by state and metro area, 2024
U.S. Bureau of Labor Statistics, Consumer Price Index for All Urban Consumers (CPI-U), US city average, May values
U.S. Department of Education, College Scorecard field-of-study and institution data, most recent cohorts, released 2026-10-15
Actuaries, Occupational Outlook Handbook, U.S. Bureau of Labor Statistics · checked October 28, 2026
Financial Mathematics Exam—December 2026 (syllabus), Society of Actuaries · checked October 28, 2026
Exam and e-Learning Module Fees, Society of Actuaries · checked October 28, 2026
Associate of the Society of Actuaries (ASA), Society of Actuaries · checked October 28, 2026
Credential Requirements, Casualty Actuarial Society · checked October 28, 2026
Joint Board Examination program, Internal Revenue Service / Joint Board for the Enrollment of Actuaries · checked October 28, 2026
Exams 1 and 2, Casualty Actuarial Society · checked October 28, 2026
20 CFR Part 901: Regulations governing the performance of actuarial services under ERISA, Joint Board for the Enrollment of Actuaries (eCFR) · checked October 28, 2026

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