Actuaries are among the highest-paid professionals in the United States — and one of the few careers where every additional credential has a measurable, documented salary impact. Here is the full compensation picture.
Pay at a Glance (BLS Data)
Bureau of Labor Statistics wage estimates for actuaries, across all industries:
| Percentile | Annual Wage | Hourly Equivalent |
|---|---|---|
| 10th (entry level) | $78,570 | $37.77 |
| 25th | $97,680 | $46.96 |
| 50th (median) | $130,000 | $62.50 |
| 75th | $170,650 | $82.04 |
| 90th | $215,100 | $103.41 |
| Average (mean) | $141,480 | $68.02 |
Source: US Bureau of Labor Statistics, Occupational Employment and Wage Statistics, May 2025, for Actuaries (all industries). Hourly figures are annual wages divided by 2,080 hours. “Not published” means BLS withheld the estimate, usually because wages are above its top reporting limit.
Actuary Salary Overview
By Exam / Credential Progress
| Status | Exams Passed | Typical Salary Range |
|---|---|---|
| Student (no exams) | 0 | $55,000-$65,000 |
| Exam progress (1-2) | 1-2 | $65,000-$80,000 |
| Exam progress (3-4) | 3-4 | $80,000-$100,000 |
| Associate (ASA/ACAS) | 5-6 | $105,000-$140,000 |
| Fellow (FSA/FCAS) | All | $145,000-$250,000+ |
| Senior fellow / VP | All + experience | $200,000-$400,000+ |
By Experience Level
| Experience | Salary Range |
|---|---|
| 0-3 years | $65,000-$95,000 |
| 4-7 years | $95,000-$140,000 |
| 8-12 years | $140,000-$200,000 |
| 13-18 years | $185,000-$280,000 |
| 18+ years | $250,000-$500,000+ |
Salary by Industry
| Industry | Notes |
|---|---|
| Life insurance | Largest employer |
| Property & casualty insurance | FCAS path |
| Consulting | Premium for expertise |
| Health insurance / managed care | ACA-driven demand |
| Reinsurance | Specialized, high-pay |
| Government | Lower pay, stable |
| Banking / capital markets | ERM roles |
Salary by State
| Rank | State | Avg Salary | Starting Salary | Median Salary |
|---|---|---|---|---|
| 1 | Connecticut | $164,640 | $99,430 | $166,800 |
| 2 | District of Columbia | $164,460 | $116,690 | $166,230 |
| 3 | New York | $161,670 | $82,250 | $156,480 |
| 4 | New Jersey | $152,850 | $86,090 | $142,800 |
| 5 | California | $145,330 | $83,510 | $130,510 |
| 6 | Washington | $141,300 | $71,140 | $134,720 |
| 7 | Virginia | $140,780 | $82,120 | $131,900 |
| 8 | Arizona | $139,740 | $85,750 | $135,870 |
| 9 | Minnesota | $138,000 | $79,920 | $128,100 |
| 10 | Florida | $136,940 | $80,450 | $132,110 |
| 11 | Tennessee | $136,800 | $74,350 | $108,930 |
| 12 | Nevada | $136,290 | $77,090 | $132,370 |
| 13 | Missouri | $135,890 | $77,780 | $129,220 |
| 14 | Oregon | $135,420 | $81,780 | $130,380 |
| 15 | Kansas | $135,160 | $75,260 | $125,010 |
| 16 | Wisconsin | $134,490 | $76,890 | $131,640 |
| 17 | Maryland | $133,930 | $76,670 | $126,950 |
| 18 | Pennsylvania | $133,290 | $78,050 | $125,040 |
| 19 | Utah | $131,390 | $84,010 | $132,720 |
| 20 | Mississippi | $130,950 | $63,480 | $106,210 |
| 21 | Massachusetts | $130,710 | $83,660 | $126,040 |
| 22 | Illinois | $129,580 | $77,790 | $115,430 |
| 23 | Colorado | $129,530 | $78,610 | $120,440 |
| 24 | Kentucky | $129,150 | $87,260 | $120,400 |
| 25 | North Carolina | $128,500 | $72,420 | $128,730 |
| 26 | Maine | $125,740 | $85,200 | $119,620 |
| 27 | Iowa | $125,370 | $81,610 | $128,690 |
| 28 | Alabama | $124,290 | $71,240 | $136,950 |
| 29 | Rhode Island | $123,510 | $76,120 | $111,090 |
| 30 | Ohio | $121,730 | $77,110 | $110,980 |
| 31 | Oklahoma | $120,410 | $78,310 | $109,760 |
| 32 | Texas | $119,110 | $62,870 | $105,020 |
| 33 | Nebraska | $112,580 | $61,190 | $102,790 |
| 34 | Louisiana | $110,420 | $69,790 | $80,860 |
| 35 | Michigan | $108,630 | $65,240 | $100,640 |
| 36 | Indiana | $104,990 | $65,690 | $100,690 |
| — | National | $141,480 | $78,570 | $130,000 |
Source: US Bureau of Labor Statistics OEWS, 2025 estimates, fetched 2026-09-29. Figures cover Actuaries (cross-industry). Some states are omitted where BLS did not publish a reliable estimate.
The Actuarial Exam Path and Pay Raise
Casualty Actuarial Society (P&C Insurance)
| Milestone | Approximate Salary Jump |
|---|---|
| Passed Exam 1/P | +$5,000-$8,000 |
| Passed Exam 2/FM | +$5,000-$8,000 |
| Each subsequent exam | +$5,000-$10,000 |
| ACAS designation | +$20,000-$35,000 |
| FCAS designation | +$25,000-$50,000 |
Society of Actuaries (Life/Health)
| Milestone | Approximate Salary Jump |
|---|---|
| Preliminary exams (P, FM, IFM) | +$5,000-$8,000 each |
| Upper-level exams | +$8,000-$15,000 each |
| ASA designation | +$20,000-$35,000 |
| FSA designation | +$30,000-$60,000 |
Actuary vs. Other High-Paying Careers
| Career | Avg Salary | Years of Training | Work-Life Balance |
|---|---|---|---|
| Actuary (FSA/FCAS) | $180,000 | 7-10 years | Good |
| Attorney (BigLaw) | $225,000 | 3 years law school | Poor |
| Physician (hospitalist) | $250,000 | 11-15 years training | Variable |
| CPA (Big 4 partner) | $300,000 | 5-10 years to partner | Poor early career |
| Software engineer (senior) | $165,000 | 4-year degree | Good |
Job Outlook
The BLS projects 9.2% growth in actuary jobs through 2035. The expansion of enterprise risk management, healthcare complexity, and climate-related insurance modeling are all driving demand.
Related: Financial Advisor Salary | Accountant Salary | Consultant Salary
Is It a Good Career?
Good fit for
- Strong math aptitude — Weak quantitative skills.
- Enjoys studying/exams — Hates standardized testing.
- Long-term career planner — Wants rapid variety/change.
- Values stability and structure — Entrepreneurial spirit.
- Detail-oriented, analytical — Big-picture only.
- Self-disciplined — Needs external motivation.
- Comfortable with delayed gratification — Wants immediate rewards.
- Interested in business/finance — Purely technical interest.
Related Salary Guides
See every profession in our salary by profession guides.
Sources
- U.S. Bureau of Labor Statistics. “Occupational Employment and Wage Statistics, May 2024.” bls.gov/oes
- Social Security Administration. “Benefits and Eligibility Information.” ssa.gov/benefits
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