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Occupational Employment and Wage Statistics

Occupational Employment and Wages, May 2022

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:

Employment estimate and mean wage estimates for Actuaries:

Employment (1) Employment
RSE (3)
Mean hourly
wage
Mean annual
wage (2)
Wage RSE (3)
25,010 4.3 % $ 61.34 $ 127,580 0.9 %

Percentile wage estimates for Actuaries:

Percentile 10% 25% 50%
(Median)
75% 90%
Hourly Wage $ 34.50 $ 40.77 $ 54.80 $ 74.84 $ 95.82
Annual Wage (2) $ 71,760 $ 84,800 $ 113,990 $ 155,670 $ 199,300


Industry profile for Actuaries:

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 13,410 1.11 $ 60.68 $ 126,220
Agencies, Brokerages, and Other Insurance Related Activities 4,900 0.38 $ 64.29 $ 133,720
Management, Scientific, and Technical Consulting Services 2,880 0.16 $ 59.54 $ 123,830
Management of Companies and Enterprises 1,190 0.04 $ 55.12 $ 114,650
State Government, excluding schools and hospitals (OEWS Designation) 550 0.03 $ 48.43 $ 100,720

Industries with the highest concentration of employment in Actuaries:

Industry Employment (1) Percent of industry employment Hourly mean wage Annual mean wage (2)
Insurance and Employee Benefit Funds 140 1.41 $ 68.62 $ 142,730
Insurance Carriers 13,410 1.11 $ 60.68 $ 126,220
Agencies, Brokerages, and Other Insurance Related Activities 4,900 0.38 $ 64.29 $ 133,720
Management, Scientific, and Technical Consulting Services 2,880 0.16 $ 59.54 $ 123,830
Securities, Commodity Contracts, and Other Financial Investments and Related Activities 520 0.05 $ 65.94 $ 137,150

Top paying industries for Actuaries:

Industry Employment (1) Percent of industry employment Hourly mean wage Annual mean wage (2)
Legal Services (8) (8) $ 119.51 $ 248,590
Computer Systems Design and Related Services 80 (7) $ 75.68 $ 157,400
Credit Intermediation and Related Activities (5221 and 5223 only) 40 (7) $ 75.42 $ 156,880
Federal Executive Branch (OEWS Designation) 290 0.01 $ 68.98 $ 143,480
Accounting, Tax Preparation, Bookkeeping, and Payroll Services 380 0.04 $ 68.96 $ 143,430


Geographic profile for Actuaries:

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.



Map of employment of actuaries by state, May 2022


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)
Illinois 2,960 0.50 2.97 $ 63.02 $ 131,080
New York 2,580 0.28 1.67 $ 74.37 $ 154,680
Pennsylvania 1,980 0.34 2.02 $ 59.09 $ 122,910
Florida 1,640 0.18 1.05 $ 60.26 $ 125,340
Ohio 1,400 0.26 1.54 $ 53.27 $ 110,800


Map of location quotient of actuaries by state, May 2022


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 1,220 0.75 4.42 $ 70.55 $ 146,740
Illinois 2,960 0.50 2.97 $ 63.02 $ 131,080
Iowa 730 0.48 2.83 $ 53.39 $ 111,060
Pennsylvania 1,980 0.34 2.02 $ 59.09 $ 122,910
Vermont 100 0.33 1.94 $ 59.40 $ 123,560


Map of annual mean wages of actuaries by state, May 2022


Top paying states for Actuaries:

State Employment (1) Employment per thousand jobs Location quotient (9) Hourly mean wage Annual mean wage (2)
New Hampshire 30 0.05 0.29 $ 76.97 $ 160,090
New York 2,580 0.28 1.67 $ 74.37 $ 154,680
North Carolina 770 0.17 0.98 $ 70.66 $ 146,960
Connecticut 1,220 0.75 4.42 $ 70.55 $ 146,740
Massachusetts 750 0.21 1.25 $ 69.24 $ 144,020



Map of employment of actuaries by area, May 2022


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 2,940 0.32 1.90 $ 73.54 $ 152,950
Chicago-Naperville-Elgin, IL-IN-WI 2,360 0.53 3.16 $ 64.28 $ 133,710
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD 1,080 0.39 2.31 $ 63.70 $ 132,490
Hartford-West Hartford-East Hartford, CT 910 1.63 9.64 $ 70.94 $ 147,550
Minneapolis-St. Paul-Bloomington, MN-WI 800 0.43 2.51 $ 59.65 $ 124,060
Boston-Cambridge-Nashua, MA-NH 580 0.21 1.27 $ 69.26 $ 144,050
Milwaukee-Waukesha-West Allis, WI 480 0.60 3.54 $ 67.49 $ 140,390
Des Moines-West Des Moines, IA 460 1.24 7.34 $ 53.00 $ 110,230
Denver-Aurora-Lakewood, CO 460 0.29 1.74 $ 61.31 $ 127,530
Baltimore-Columbia-Towson, MD 450 0.35 2.05 $ 55.48 $ 115,400


Map of location quotient of actuaries by area, May 2022


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)
Bloomington, IL 280 3.13 18.51 $ 59.44 $ 123,620
Hartford-West Hartford-East Hartford, CT 910 1.63 9.64 $ 70.94 $ 147,550
Des Moines-West Des Moines, IA 460 1.24 7.34 $ 53.00 $ 110,230
Lansing-East Lansing, MI 160 0.81 4.78 $ 42.30 $ 87,990
Milwaukee-Waukesha-West Allis, WI 480 0.60 3.54 $ 67.49 $ 140,390
Chicago-Naperville-Elgin, IL-IN-WI 2,360 0.53 3.16 $ 64.28 $ 133,710
Topeka, KS 50 0.46 2.71 $ 56.36 $ 117,220
Utica-Rome, NY 50 0.45 2.68 $ 59.30 $ 123,350
Minneapolis-St. Paul-Bloomington, MN-WI 800 0.43 2.51 $ 59.65 $ 124,060
Bridgeport-Stamford-Norwalk, CT 160 0.42 2.46 $ 68.62 $ 142,730


Map of annual mean wages of actuaries by area, May 2022


Top paying metropolitan areas for 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 2,940 0.32 1.90 $ 73.54 $ 152,950
Springfield, MA-CT 80 0.24 1.41 $ 72.85 $ 151,520
Charlotte-Concord-Gastonia, NC-SC 350 0.28 1.65 $ 71.19 $ 148,080
Hartford-West Hartford-East Hartford, CT 910 1.63 9.64 $ 70.94 $ 147,550
Fort Wayne, IN 30 0.14 0.82 $ 69.46 $ 144,480
San Francisco-Oakland-Hayward, CA 180 0.07 0.43 $ 69.43 $ 144,410
Boston-Cambridge-Nashua, MA-NH 580 0.21 1.27 $ 69.26 $ 144,050
Bridgeport-Stamford-Norwalk, CT 160 0.42 2.46 $ 68.62 $ 142,730
Rochester, NY 70 0.14 0.83 $ 68.51 $ 142,500
Greensboro-High Point, NC 110 0.32 1.91 $ 68.29 $ 142,050

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)
Southeast Minnesota nonmetropolitan area 50 0.36 2.15 $ 65.19 $ 135,590
Northern Vermont nonmetropolitan area 40 0.64 3.79 $ 62.63 $ 130,280

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)
Northern Vermont nonmetropolitan area 40 0.64 3.79 $ 62.63 $ 130,280
Southeast Minnesota nonmetropolitan area 50 0.36 2.15 $ 65.19 $ 135,590

Top paying nonmetropolitan areas for Actuaries:

Nonmetropolitan area Employment (1) Employment per thousand jobs Location quotient (9) Hourly mean wage Annual mean wage (2)
Southeast Minnesota nonmetropolitan area 50 0.36 2.15 $ 65.19 $ 135,590
Northern Vermont nonmetropolitan area 40 0.64 3.79 $ 62.63 $ 130,280


About May 2022 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 2022 National Occupational Employment and Wage Estimates

May 2022 State Occupational Employment and Wage Estimates

May 2022 Metropolitan and Nonmetropolitan Area Occupational Employment and Wage Estimates

May 2022 National Industry-Specific Occupational Employment and Wage Estimates

May 2022 Occupation Profiles

Technical Notes

 

Last Modified Date: April 25, 2023