Actuary Salary 2026: Average Pay, Salary by Experience & Top-Paying States
If you have ever wondered which careers combine serious math with serious money, the actuarial profession belongs near the top of the list. Actuaries are the people insurance companies, pension funds, and consulting firms trust to put a price on uncertainty. They calculate how likely an event is, what it will cost, and how to prepare for it financially. It is demanding work, and the paychecks reflect that. In this guide we break down the actuary salary landscape for 2026: what the typical actuary earns, how pay climbs with each exam passed, which states pay the most, and what it takes to get into the field.
Actuary Salary Overview 2026
The headline number first. According to the U.S. Bureau of Labor Statistics, the median annual wage for actuaries was $130,000 in May 2025, with an hourly equivalent of $62.50. Job board data collected through 2026 tells a similar story: ZipRecruiter reported an average actuary salary of $131,841 per year, about $63.39 per hour, while the bulk of job listings sat between $116,500 and $137,000. In plain terms, a typical American actuary earns roughly two and a half times the national median wage for all workers.
| Metric | 2026 Figure |
|---|---|
| Median annual salary (BLS, May 2025) | $130,000 |
| Median hourly wage | $62.50 |
| Average annual salary (ZipRecruiter, Oct 2026) | $131,841 |
| 25th percentile | $97,680 |
| 75th percentile | $170,650 |
| 90th percentile | $215,100 |
| Mean annual wage | $141,480 |
| Total jobs in the U.S. (2025) | 31,200 |
One thing worth noting is that the gap between the 10th and 90th percentiles is enormous. An actuary in the bottom tenth earns under $79,000, while the top tenth clears $215,000. That spread is not an accident. In this profession, pay follows credentials almost mechanically: every exam you pass moves your salary up a rung.
Average and Median Actuary Salary in 2026
Different sources report slightly different averages, which is normal because they measure different things. The BLS number, $130,000 median, is the most authoritative because it comes from employer payroll records across the whole country. ZipRecruiter’s $131,841 average is drawn from active job postings, which skew a little higher because open roles are often priced to attract talent. Independent compensation trackers sit in the same band, with medians between $128,000 and $139,000.
For hourly math: divide the $130,000 median by 2,080 working hours and you get about $62.50 per hour. Weekly, that is roughly $2,500, or around $10,800 per month before taxes. The mean (average) wage of $141,480 sits above the median, which tells you the distribution has a long tail of very high earners pulling it upward.
Actuary Salary by Experience Level
Entry-level pay in actuarial science is already strong by any standard, and the climb from there is unusually predictable. Here is what the 2026 data shows across career stages:
| Experience | Typical Salary Range |
|---|---|
| 0 to 3 years (entry level) | $65,000 to $95,000 |
| 4 to 7 years (mid career) | $95,000 to $140,000 |
| 8 to 12 years (senior) | $140,000 to $200,000 |
| 13 to 18 years (lead / director) | $185,000 to $280,000 |
| 18+ years (chief actuary, VP) | $250,000 to $500,000+ |
Compensation surveys note that an actuary’s pay can rise by as much as $85,000 over the first 20 years of a career. New hires typically start between $65,000 and $85,000 depending on how many exams they already passed before joining. Candidates who walk in with two or three exams under their belt consistently land at the upper end of the starting range. By the 8 to 14 year mark, median total compensation is around $176,000, and lead or expert-level actuaries with 15 or more years can exceed $230,000.
Actuary Salary by Exam Progress and Credentials
This is the part that makes the actuarial career unlike almost any other. Your pay is tied directly to how far you get through the professional exam series run by the Society of Actuaries (SOA) for life, health, and pensions, or the Casualty Actuarial Society (CAS) for property and casualty insurance. Employers routinely give automatic raises for each exam passed, plus paid study time and covered exam fees.
| Status | Exams Passed | Typical Salary Range |
|---|---|---|
| Student (no exams) | 0 | $55,000 to $65,000 |
| Early exam progress | 1 to 2 | $65,000 to $80,000 |
| Mid exam progress | 3 to 4 | $80,000 to $100,000 |
| Associate (ASA or ACAS) | 5 to 6 | $105,000 to $140,000 |
| Fellow (FSA or FCAS) | All | $145,000 to $250,000+ |
| Senior fellow / VP | All, plus experience | $200,000 to $400,000+ |
Reaching Associate status (ASA through the SOA, ACAS through the CAS) is the first big inflection point. Surveys show it often triggers a 15 to 25 percent jump in base salary, with total compensation for associates typically landing between $100,000 and $140,000. One salary tracker puts the median total pay for Associate Actuary roles at about $152,000 as of early 2026. Making Fellow is the second inflection point: fellows (FSA or FCAS) earn up to 50 percent more than associates, and senior fellows running actuarial departments or consulting practices can earn $250,000 to $400,000 or more when bonuses are included.
Highest-Paying States and Cities for Actuaries
Where you live moves the needle. Insurance and financial hubs pay a premium, and cost of labor differences mean the same job can pay $20,000 more in one state than the national median. The highest-paying states for actuaries in 2026 include:
| State | Estimated Median Salary | vs National Median |
|---|---|---|
| New York | $150,000 | +$20,000 |
| Massachusetts | $146,000 | +$16,000 |
| Connecticut | $143,000 | +$13,000 |
| Illinois | $135,000 | +$5,000 |
| Pennsylvania | $130,000 | At national median |
At the city level, the leaders are familiar names. New York City tops the list at around $153,000, followed by Boston at $146,000, Hartford at $138,000, Chicago at $137,000, and Philadelphia at $133,000. Hartford’s showing makes sense: Connecticut is home to a dense cluster of insurance company headquarters. Keep in mind that these estimates are scaled from the national median by local cost-of-labor multipliers, and they do not adjust for housing costs, which are steep in New York and Boston.
Actuary Salary by Industry
Most actuaries still work for insurance companies, but the ones who move into finance and investment or consulting tend to earn more. The 2026 picture by industry:
| Industry | Typical Salary Range |
|---|---|
| Insurance (life, health, P&C) | $95,000 to $145,000 |
| Finance and investment | $110,000 to $170,000 |
| Consulting | $100,000 to $160,000 |
| Healthcare and government | $85,000 to $140,000 |
New specializations are also emerging. With artificial intelligence and big data reshaping risk modeling, actuaries who add machine learning, Python, and advanced data modeling to their toolkit are finding opportunities beyond traditional insurance. Climate risk, cyber insurance, and public policy work are growing niches where actuaries are increasingly in demand, and consulting roles in these areas often pay above the standard bands.
How Actuary Pay Compares to Other U.S. Careers
Put next to other skilled occupations, actuary pay stands out. Compare it with an analytical healthcare role like phlebotomy: a phlebotomist salary in 2026 typically sits in the $40,000 to $50,000 range, less than half of what a typical actuary earns. The difference reflects years of specialized exam work and the financial stakes of the decisions actuaries make. An actuary who misprices a block of insurance policies can cost a company millions, so employers pay a premium for certified judgment. Even against other finance careers, actuaries hold their own: their median of $130,000 beats most business analysts and financial analysts, and their path to a quarter-million dollars requires no rainmaking or client prospecting, just exams and experience.
Bonuses, Benefits, and Perks
Base salary is only part of the story. Actuarial compensation packages usually include:
- Performance bonuses: annual bonuses of 5 to 20 percent of base salary are common, larger at senior levels. Total compensation (base plus bonus) is what drives figures like Glassdoor’s $152,000 median for associate actuaries.
- Exam raises: automatic pay increases for each professional exam passed, often $3,000 to $8,000 per exam on top of the regular raise cycle.
- Paid study time: most employers give 100 to 150 paid study hours per exam sitting.
- Exam and credential costs covered: registration fees, study materials, and travel to exam centers are usually reimbursed.
- Standard corporate benefits: health insurance, 401(k) matching, and generous vacation are the norm at insurance carriers and consulting firms.
The exam support package matters more than it sounds. Over a career it is worth tens of thousands of dollars, and it means you can keep advancing your credentials without spending your own evenings and weekends entirely on study.
How to Become an Actuary: Education and Exam Path
The BLS lists a bachelor’s degree as the typical entry-level education, and most entrants major in actuarial science, mathematics, statistics, or a closely related quantitative field. Employers also hire candidates with degrees in economics, computer science, finance, or physics, as long as the coursework includes serious mathematics and statistics.
The real gate is the exam series. The SOA path (for life, health, retirement, and risk) and the CAS path (for property and casualty) each require a sequence of exams covering probability, financial mathematics, statistics, economics, and insurance-specific topics. The full journey to Fellowship typically takes 6 to 10 years of exams while working full time. That sounds daunting, but you are earning a real salary the whole way, and each passed exam comes with a raise and more responsibility. Strong communication skills matter too: actuaries regularly present complex findings to managers, clients, and regulators who do not share their math background.
Job Outlook for Actuaries
The employment outlook is one of the strongest in professional services. The BLS projects actuary employment to grow 9 percent from 2025 to 2035, much faster than the average for all occupations. That translates to about 2,900 new jobs and roughly 1,500 openings per year, mostly from workers transferring to other occupations or retiring. An aging workforce of senior actuaries is accelerating upward mobility for mid-career professionals right now. Most actuaries work full time in offices, though consulting actuaries travel to meet clients, and hybrid and remote arrangements have become more common in consulting and tech-adjacent roles.
Actuary Salary FAQs
What is the average actuary salary in the U.S. in 2026?
The most cited figures are the BLS median of $130,000 per year and ZipRecruiter’s average of about $131,841 per year from October 2026 job postings. The mean wage across all actuaries is $141,480.
How much does an entry-level actuary make?
New graduates typically start between $65,000 and $85,000, depending on how many professional exams they have already passed. Candidates with two or more exams at hiring consistently land at the upper end.
Do actuaries make more after passing exams?
Yes, substantially. Each exam passed usually comes with an automatic raise. Associates (ASA or ACAS) typically earn $105,000 to $140,000, while Fellows (FSA or FCAS) earn $145,000 to $250,000 or more.
Which state pays actuaries the most?
New York leads with an estimated median around $150,000, followed by Massachusetts at $146,000 and Connecticut at $143,000. At the city level, New York City, Boston, and Hartford top the charts.
Is being an actuary a good career in 2026?
For people who enjoy mathematics and steady professional growth, it is one of the best careers available: a $130,000 median wage, 9 percent projected job growth through 2035, strong benefits, and a pay structure that rewards every credential you earn.
How long does it take to become a fully qualified actuary?
Reaching Fellowship (FSA or FCAS) usually takes 6 to 10 years of exams alongside full-time work. You earn a professional salary from day one, with raises tied to each exam passed along the way.
Conclusion
The actuary salary story in 2026 is simple and unusually honest: it is a career where effort converts directly into earnings. The median of $130,000 puts actuaries comfortably in the top tier of American earners, and the exam ladder gives every practitioner a clear, documented path from a $70,000 starting analyst role to a $250,000-plus fellowship. Top-paying states like New York, Massachusetts, and Connecticut add another $15,000 to $20,000 on top of the national median. With 9 percent projected job growth through 2035 and employers competing to fund your exam journey, actuarial science remains one of the most reliable ways to turn a talent for mathematics into a genuinely wealthy career.
