Actuaries salary
| Measure | Annual | Hourly |
|---|---|---|
| 10th percentile | $78,570 | $37.77 |
| Median (50th percentile) | $130,000 | $62.50 |
| Mean (average) | $141,480 | $68.02 |
| 90th percentile | $215,100 | $103.41 |
These wages describe everyone employed in the occupation, from new entrants to experienced workers. They are not starting salaries and not earnings of graduates from any particular program. Verified data
Actuaries pay by state and metro area
Table: median wage and employment for all 40 states and territories
| State | Median | 10th pct | 90th pct | Employment | Location quotient |
|---|---|---|---|---|---|
| Alabama | $136,950 | $71,240 | $160,740 | 190 | 0.51 |
| Arizona | $135,870 | $85,750 | $202,130 | 200 | 0.35 |
| California | $130,510 | $83,510 | $219,490 | 1,280 | 0.41 |
| Colorado | $120,440 | $78,610 | $183,540 | 500 | 1.01 |
| Connecticut | $166,800 | $99,430 | $228,810 | 1,380 | 4.76 |
| District of Columbia | $166,230 | $116,690 | $207,450 | 160 | 1.29 |
| Florida | $132,110 | $80,450 | $206,700 | 1,300 | 0.76 |
| Georgia | Data unavailable | 1,470 | 1.76 | ||
| Hawaii | Data unavailable | 30 | 0.3 | ||
| Illinois | $115,430 | $77,790 | $202,160 | 2,280 | 2.18 |
| Indiana | $100,690 | $65,690 | $142,220 | 780 | 1.42 |
| Iowa | $128,690 | $81,610 | $173,480 | 530 | 1.97 |
| Kansas | $125,010 | $75,260 | $207,040 | 180 | 0.72 |
| Kentucky | $120,400 | $87,260 | $215,580 | 70 | 0.21 |
| Louisiana | $80,860 | $69,790 | $206,870 | 40 | 0.11 |
| Maine | $119,620 | $85,200 | $166,220 | 80 | 0.72 |
| Maryland | $126,950 | $76,670 | $185,220 | 580 | 1.22 |
| Massachusetts | $126,040 | $83,660 | $179,750 | ||
| Michigan | $100,640 | $65,240 | $170,450 | 570 | 0.75 |
| Minnesota | $128,100 | $79,920 | $223,300 | 1,170 | 2.32 |
| Mississippi | $106,210 | $63,480 | $256,130 | 40 | 0.21 |
| Missouri | $129,220 | $77,780 | $207,080 | 390 | 0.78 |
| Nebraska | $102,790 | $61,190 | $161,870 | 270 | 1.51 |
| Nevada | $132,370 | $77,090 | $207,580 | 120 | 0.45 |
| New Jersey | $142,800 | $86,090 | $224,700 | 1,260 | 1.72 |
| New York | $156,480 | $82,250 | $277,800 | 2,630 | 1.58 |
| North Carolina | $128,730 | $72,420 | $193,830 | 610 | 0.72 |
| Ohio | $110,980 | $77,110 | $175,190 | 1,090 | 1.14 |
| Oklahoma | $109,760 | $78,310 | $161,910 | 70 | 0.24 |
| Oregon | $130,380 | $81,780 | $203,790 | 210 | 0.63 |
| Pennsylvania | $125,040 | $78,050 | $201,820 | 1,710 | 1.64 |
| Puerto Rico | $68,100 | $47,910 | $103,040 | 30 | 0.21 |
| Rhode Island | $111,090 | $76,120 | $182,530 | 100 | 1.21 |
| South Carolina | Data unavailable | 140 | 0.36 | ||
| Tennessee | $108,930 | $74,350 | $248,240 | 300 | 0.53 |
| Texas | $105,020 | $62,870 | $189,320 | 1,750 | 0.72 |
| Utah | $132,720 | $84,010 | $171,270 | 180 | 0.6 |
| Virginia | $131,900 | $82,120 | $212,740 | 440 | 0.62 |
| Washington | $134,720 | $71,140 | $209,940 | 360 | 0.59 |
| Wisconsin | $131,640 | $76,890 | $204,790 | 890 | 1.76 |
A location quotient above 1 means the occupation is more concentrated in that state than in the nation overall.
Metro areas with the most jobs
Highest paying metro areas
Job outlook for actuaries
- Average annual openings, 2025 to 2035: 1,500. Openings include new jobs plus replacement needs when workers retire or leave the occupation. Official projection
- Read the official BLS Occupational Outlook Handbook profile.
These are official BLS projections. ConnectPrep does not alter them or present its own forecasts as official statistics.
Education and training for actuaries
- Typical entry education
- Bachelor's degree
- Related work experience
- None
- On-the-job training
- Long-term on-the-job training
- O*NET Job Zone
- Job Zone Four: Considerable Preparation Needed
Highest education of people working in this occupation
O*NET describes this preparation level as: Most of these occupations require a four-year bachelor's degree, but some do not.
Degrees and programs that lead to this career
Programs officially mapped to this occupation in the NCES and BLS CIP to SOC crosswalk. A mapping means the program commonly prepares students for the occupation, not that every graduate works in it. Official crosswalk
- Applied Mathematics, General CIP 27.0301
- Computational and Applied Mathematics CIP 27.0304
- Statistics, General CIP 27.0501
- Mathematical Statistics and Probability CIP 27.0502
- Mathematics and Statistics CIP 27.0503
- Statistics, Other CIP 27.0599
- Applied Statistics, General CIP 27.0601
- Risk Management CIP 52.0215
- Actuarial Science CIP 52.1304
Skills, knowledge, and daily work
Most important skills
Most important knowledge areas
Typical tasks
- Analyze data to determine premium rates required and cash reserves and liabilities necessary to ensure payment of future benefits.
- Analyze statistical information to estimate mortality, accident, sickness, disability, and retirement rates.
- Design, review, and help administer insurance, annuity and pension plans, determining financial soundness and calculating premiums.
- Collaborate with programmers, underwriters, accounts, claims experts, and senior management to help companies develop plans for new lines of business or improvements to existing business.
- Provide advice to clients on a contract basis, working as a consultant.
- Determine, or help determine, company policy, and explain complex technical matters to company executives, government officials, shareholders, policyholders, or the public.
- Construct probability tables for events such as fires, natural disasters, and unemployment, based on analysis of statistical data and other pertinent information.
- Determine equitable basis for distributing surplus earnings under participating insurance and annuity contracts in mutual companies.
Technology skills
- Microsoft Excel (in demand)
- Microsoft Office software (in demand)
- Microsoft Power BI (in demand)
- Microsoft PowerPoint (in demand)
- Microsoft Visual Basic for Applications VBA (in demand)
- Python (in demand)
- R (in demand)
- SAS (in demand)
- Structured query language SQL (in demand)
- Tableau (in demand)
- C++ (hot technology)
- IBM SPSS Statistics (hot technology)
- Microsoft Access (hot technology)
- Microsoft Project (hot technology)
- Microsoft SQL Server (hot technology)
- Microsoft Visio (hot technology)
Transferable skills for career changers: Complex Problem Solving, Judgment and Decision Making, Systems Evaluation, Systems Analysis, Operations Analysis, Social Perceptiveness.
Common job titles: Actuarial Analyst, Actuarial Associate, Actuarial Consultant, Actuary, Consulting Actuary, Health Actuary, Life Actuary, Pricing Actuary, Product Development Actuary, Reserving Actuary.
Is it worth it? Model the cost of getting there
Use the ROI calculator to compare the cost of the education this career usually requires against staying on your current path. It starts from the official wage distribution above, and you can change every assumption.
Frequently asked questions
How much do actuaries make?
The national median annual wage for actuaries was $130,000 in May 2025, according to the BLS Occupational Employment and Wage Statistics program. The lowest paid 10 percent earned less than $78,570 and the highest paid 10 percent earned more than $215,100. These figures cover all workers in the occupation, not only new entrants.
What education do actuaries need?
BLS lists bachelor's degree as the typical education needed to enter this occupation, with none of related work experience and long-term on-the-job training on-the-job training typically needed to become competent.
Is actuaries a growing career?
BLS projects employment of actuaries to change +9.2% from 2025 to 2035, compared with +3.5% for all occupations. About 1,500 openings are projected each year on average, including openings from workers who retire or change occupations.
Which states pay actuaries the most?
By median annual wage in May 2025, the highest paying states were Connecticut ($166,800), District of Columbia ($166,230), New York ($156,480). Pay differences partly reflect differences in living costs.