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Occupational Employment and Wage Statistics
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Occupational Employment and Wages, May 2020

15-2011 Actuaries

Analyze statistical data, such as mortality, accident, sickness, disability, and retirement rates and construct probability tables to forecast risk and liability for payment of future benefits. May ascertain insurance rates required and cash reserves necessary to ensure payment of future benefits.


National estimates for Actuaries
Industry profile for Actuaries
Geographic profile for Actuaries

National estimates for Actuaries: Top

Employment estimate and mean wage estimates for Actuaries:

Employment (1) Employment
RSE (3)
Mean hourly
wage
Mean annual
wage (2)
Wage RSE (3)
22,480 3.3 % $ 59.22 $ 123,180 1.1 %

Percentile wage estimates for Actuaries:

Percentile 10% 25% 50%
(Median)
75% 90%
Hourly Wage $ 31.74 $ 40.17 $ 53.38 $ 72.62 $ 94.24
Annual Wage (2) $ 66,030 $ 83,550 $ 111,030 $ 151,060 $ 196,010


Industry profile for Actuaries: Top

Industries with the highest published employment and wages for Actuaries are provided. For a list of all industries with employment in Actuaries, see the Create Customized Tables function.

Industries with the highest levels of employment in Actuaries:

Industry Employment (1) Percent of industry employment Hourly mean wage Annual mean wage (2)
Insurance Carriers 11,440 0.95 $ 59.88 $ 124,550
Agencies, Brokerages, and Other Insurance Related Activities 4,060 0.34 $ 62.31 $ 129,610
Management, Scientific, and Technical Consulting Services 2,450 0.16 $ 58.62 $ 121,920
Management of Companies and Enterprises 1,550 0.06 $ 53.76 $ 111,820
Securities, Commodity Contracts, and Other Financial Investments and Related Activities 690 0.07 $ 66.88 $ 139,100

Industries with the highest concentration of employment in Actuaries:

Industry Employment (1) Percent of industry employment Hourly mean wage Annual mean wage (2)
Insurance Carriers 11,440 0.95 $ 59.88 $ 124,550
Insurance and Employee Benefit Funds 30 0.50 $ 64.34 $ 133,820
Agencies, Brokerages, and Other Insurance Related Activities 4,060 0.34 $ 62.31 $ 129,610
Management, Scientific, and Technical Consulting Services 2,450 0.16 $ 58.62 $ 121,920
Securities, Commodity Contracts, and Other Financial Investments and Related Activities 690 0.07 $ 66.88 $ 139,100

Top paying industries for Actuaries:

Industry Employment (1) Percent of industry employment Hourly mean wage Annual mean wage (2)
Business, Professional, Labor, Political, and Similar Organizations 50 0.01 $ 83.21 $ 173,070
Credit Intermediation and Related Activities (5221 and 5223 only) 40 (7) $ 74.16 $ 154,250
Computer Systems Design and Related Services 100 (7) $ 71.70 $ 149,140
Securities, Commodity Contracts, and Other Financial Investments and Related Activities 690 0.07 $ 66.88 $ 139,100
Federal Executive Branch (OEWS Designation) 300 0.01 $ 65.45 $ 136,140


Geographic profile for Actuaries: Top

States and areas with the highest published employment, location quotients, and wages for Actuaries are provided. For a list of all areas with employment in Actuaries, see the Create Customized Tables function.





States with the highest employment level in Actuaries:

State Employment (1) Employment per thousand jobs Location quotient (9) Hourly mean wage Annual mean wage (2)
New York 2,570 0.30 1.83 $ 74.11 $ 154,150
Illinois 2,200 0.39 2.42 $ 56.39 $ 117,290
California 1,450 0.09 0.55 $ 55.51 $ 115,460
Pennsylvania 1,410 0.26 1.58 $ 59.92 $ 124,630
Texas 1,380 0.11 0.71 $ 57.29 $ 119,170




States with the highest concentration of jobs and location quotients in Actuaries:

State Employment (1) Employment per thousand jobs Location quotient (9) Hourly mean wage Annual mean wage (2)
Connecticut 1,240 0.81 4.99 $ 71.84 $ 149,430
Illinois 2,200 0.39 2.42 $ 56.39 $ 117,290
Nebraska 300 0.32 1.96 $ 57.89 $ 120,410
New Jersey 1,160 0.31 1.90 $ 59.03 $ 122,790
New York 2,570 0.30 1.83 $ 74.11 $ 154,150




Top paying states for Actuaries:

State Employment (1) Employment per thousand jobs Location quotient (9) Hourly mean wage Annual mean wage (2)
New York 2,570 0.30 1.83 $ 74.11 $ 154,150
Connecticut 1,240 0.81 4.99 $ 71.84 $ 149,430
New Hampshire 60 0.10 0.61 $ 66.22 $ 137,740
North Carolina 760 0.18 1.10 $ 65.96 $ 137,190
District of Columbia 170 0.25 1.52 $ 65.50 $ 136,230





Metropolitan areas with the highest employment level in Actuaries:

Metropolitan area Employment (1) Employment per thousand jobs Location quotient (9) Hourly mean wage Annual mean wage (2)
New York-Newark-Jersey City, NY-NJ-PA 2,870 0.32 2.01 $ 71.27 $ 148,230
Chicago-Naperville-Elgin, IL-IN-WI 2,010 0.46 2.85 $ 56.47 $ 117,470
Hartford-West Hartford-East Hartford, CT 990 1.80 11.15 (8) (8)
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD 940 0.35 2.16 $ 62.00 $ 128,960
Boston-Cambridge-Nashua, MA-NH 740 0.29 1.77 $ 63.01 $ 131,070
Los Angeles-Long Beach-Anaheim, CA 730 0.13 0.78 $ 56.53 $ 117,580
Dallas-Fort Worth-Arlington, TX 530 0.15 0.92 $ 60.50 $ 125,840
Minneapolis-St. Paul-Bloomington, MN-WI 520 0.28 1.74 $ 53.61 $ 111,510
Detroit-Warren-Dearborn, MI 510 0.29 1.78 $ 46.57 $ 96,860
Columbus, OH 480 0.47 2.90 $ 50.29 $ 104,600




Metropolitan areas with the highest concentration of jobs and location quotients in Actuaries:

Metropolitan area Employment (1) Employment per thousand jobs Location quotient (9) Hourly mean wage Annual mean wage (2)
Hartford-West Hartford-East Hartford, CT 990 1.80 11.15 (8) (8)
Des Moines-West Des Moines, IA 290 0.81 5.03 $ 56.32 $ 117,140
Lansing-East Lansing, MI 160 0.80 4.98 $ 37.21 $ 77,390
Madison, WI 220 0.58 3.60 $ 55.64 $ 115,730
Albany-Schenectady-Troy, NY 240 0.57 3.52 $ 62.68 $ 130,370
Omaha-Council Bluffs, NE-IA 240 0.51 3.16 $ 57.97 $ 120,570
Bridgeport-Stamford-Norwalk, CT 180 0.48 2.98 (8) (8)
Greensboro-High Point, NC 170 0.48 2.96 $ 56.44 $ 117,390
Columbus, OH 480 0.47 2.90 $ 50.29 $ 104,600
Richmond, VA 290 0.46 2.87 (8) (8)




Top paying metropolitan areas for Actuaries:

Metropolitan area Employment (1) Employment per thousand jobs Location quotient (9) Hourly mean wage Annual mean wage (2)
Charlotte-Concord-Gastonia, NC-SC 440 0.36 2.25 $ 75.44 $ 156,910
New York-Newark-Jersey City, NY-NJ-PA 2,870 0.32 2.01 $ 71.27 $ 148,230
San Antonio-New Braunfels, TX (8) (8) (8) $ 68.54 $ 142,550
Milwaukee-Waukesha-West Allis, WI 130 0.16 0.98 $ 64.86 $ 134,900
Tampa-St. Petersburg-Clearwater, FL 160 0.13 0.77 $ 64.75 $ 134,670
Seattle-Tacoma-Bellevue, WA 360 0.18 1.13 $ 63.25 $ 131,570
Boston-Cambridge-Nashua, MA-NH 740 0.29 1.77 $ 63.01 $ 131,070
Albany-Schenectady-Troy, NY 240 0.57 3.52 $ 62.68 $ 130,370
St. Louis, MO-IL 200 0.16 0.97 $ 62.18 $ 129,340
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD 940 0.35 2.16 $ 62.00 $ 128,960

Nonmetropolitan areas with the highest employment in Actuaries:

Nonmetropolitan area Employment (1) Employment per thousand jobs Location quotient (9) Hourly mean wage Annual mean wage (2)
Northeastern Wisconsin nonmetropolitan area 80 0.40 2.50 $ 49.54 $ 103,040

Nonmetropolitan areas with the highest concentration of jobs and location quotients in Actuaries:

Nonmetropolitan area Employment (1) Employment per thousand jobs Location quotient (9) Hourly mean wage Annual mean wage (2)
Northeastern Wisconsin nonmetropolitan area 80 0.40 2.50 $ 49.54 $ 103,040

Top paying nonmetropolitan areas for Actuaries:

Nonmetropolitan area Employment (1) Employment per thousand jobs Location quotient (9) Hourly mean wage Annual mean wage (2)
Northeastern Wisconsin nonmetropolitan area 80 0.40 2.50 $ 49.54 $ 103,040


About May 2020 National, State, Metropolitan, and Nonmetropolitan Area Occupational Employment and Wage Estimates

These estimates are calculated with data collected from employers in all industry sectors, all metropolitan and nonmetropolitan areas, and all states and the District of Columbia. The top employment and wage figures are provided above. The complete list is available in the downloadable XLS files.

The percentile wage estimate is the value of a wage below which a certain percent of workers fall. The median wage is the 50th percentile wage estimate—50 percent of workers earn less than the median and 50 percent of workers earn more than the median. More about percentile wages.


(1) Estimates for detailed occupations do not sum to the totals because the totals include occupations not shown separately. Estimates do not include self-employed workers.

(2) Annual wages have been calculated by multiplying the hourly mean wage by a "year-round, full-time" hours figure of 2,080 hours; for those occupations where there is not an hourly wage published, the annual wage has been directly calculated from the reported survey data.

(3) The relative standard error (RSE) is a measure of the reliability of a survey statistic. The smaller the relative standard error, the more precise the estimate.

(7) The value is less than .005 percent of industry employment.

(8) Estimate not released.

(9) The location quotient is the ratio of the area concentration of occupational employment to the national average concentration. A location quotient greater than one indicates the occupation has a higher share of employment than average, and a location quotient less than one indicates the occupation is less prevalent in the area than average.


Other OEWS estimates and related information:

May 2020 National Occupational Employment and Wage Estimates

May 2020 State Occupational Employment and Wage Estimates

May 2020 Metropolitan and Nonmetropolitan Area Occupational Employment and Wage Estimates

May 2020 National Industry-Specific Occupational Employment and Wage Estimates

May 2020 Occupation Profiles

Technical Notes

 

Last Modified Date: March 31, 2021