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Occupational Employment and Wage Statistics
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Occupational Employment and Wages, May 2021

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)
23,040 4.1 % $ 60.24 $ 125,300 2.4 %

Percentile wage estimates for Actuaries:

Percentile 10% 25% 50%
(Median)
75% 90%
Hourly Wage $ 30.41 $ 38.61 $ 50.91 $ 73.71 $ 99.43
Annual Wage (2) $ 63,260 $ 80,320 $ 105,900 $ 153,310 $ 206,820


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 11,480 0.96 $ 57.62 $ 119,860
Agencies, Brokerages, and Other Insurance Related Activities 4,850 0.40 $ 69.02 $ 143,570
Management, Scientific, and Technical Consulting Services 3,030 0.20 $ 55.55 $ 115,540
Management of Companies and Enterprises 1,170 0.05 $ 55.36 $ 115,140
State Government, excluding schools and hospitals (OEWS Designation) 540 0.02 $ 46.60 $ 96,920

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 100 1.14 $ 62.89 $ 130,820
Insurance Carriers 11,480 0.96 $ 57.62 $ 119,860
Agencies, Brokerages, and Other Insurance Related Activities 4,850 0.40 $ 69.02 $ 143,570
Management, Scientific, and Technical Consulting Services 3,030 0.20 $ 55.55 $ 115,540
Management of Companies and Enterprises 1,170 0.05 $ 55.36 $ 115,140

Top paying industries for Actuaries:

Industry Employment (1) Percent of industry employment Hourly mean wage Annual mean wage (2)
Legal Services (8) (8) $ 109.36 $ 227,470
Business, Professional, Labor, Political, and Similar Organizations (8) (8) $ 87.60 $ 182,220
Securities, Commodity Contracts, and Other Financial Investments and Related Activities (8) (8) $ 70.83 $ 147,330
Agencies, Brokerages, and Other Insurance Related Activities 4,850 0.40 $ 69.02 $ 143,570
Federal Executive Branch (OEWS Designation) 290 0.01 $ 66.61 $ 138,560


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 2021


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 2,410 0.28 1.70 $ 70.88 $ 147,420
Pennsylvania 2,320 0.42 2.55 $ 59.39 $ 123,540
Illinois 1,940 0.34 2.11 $ 54.59 $ 113,550
Texas 1,740 0.14 0.87 $ 51.69 $ 107,510
California 1,340 0.08 0.49 $ 56.03 $ 116,540


Map of location quotient of actuaries by state, May 2021


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 1,270 0.81 4.92 $ 67.37 $ 140,130
Iowa 650 0.44 2.67 $ 51.06 $ 106,210
Pennsylvania 2,320 0.42 2.55 $ 59.39 $ 123,540
Illinois 1,940 0.34 2.11 $ 54.59 $ 113,550
Nebraska 290 0.31 1.87 $ 56.42 $ 117,350


Map of annual mean wages of actuaries by state, May 2021


Top paying states for Actuaries:

State Employment (1) Employment per thousand jobs Location quotient (9) Hourly mean wage Annual mean wage (2)
Georgia 870 0.20 1.22 $ 113.13 $ 235,310
New Hampshire 30 0.05 0.32 $ 72.21 $ 150,200
New York 2,410 0.28 1.70 $ 70.88 $ 147,420
Connecticut 1,270 0.81 4.92 $ 67.37 $ 140,130
Vermont (8) (8) (8) $ 67.15 $ 139,670



Map of employment of actuaries by area, May 2021


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 0.33 2.02 $ 69.49 $ 144,550
Chicago-Naperville-Elgin, IL-IN-WI 1,590 0.38 2.30 $ 55.82 $ 116,110
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD 1,250 0.47 2.87 $ 64.59 $ 134,350
Hartford-West Hartford-East Hartford, CT 880 1.61 9.85 $ 68.99 $ 143,490
Atlanta-Sandy Springs-Roswell, GA 810 0.31 1.90 $ 118.04 $ 245,520
Dallas-Fort Worth-Arlington, TX 740 0.21 1.26 $ 52.85 $ 109,920
Boston-Cambridge-Nashua, MA-NH 630 0.24 1.49 $ 67.07 $ 139,510
Los Angeles-Long Beach-Anaheim, CA 510 0.09 0.54 $ 54.92 $ 114,230
Minneapolis-St. Paul-Bloomington, MN-WI 480 0.26 1.60 $ 60.57 $ 125,980
Des Moines-West Des Moines, IA 420 1.16 7.11 $ 51.85 $ 107,850


Map of location quotient of actuaries by area, May 2021


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 880 1.61 9.85 $ 68.99 $ 143,490
Des Moines-West Des Moines, IA 420 1.16 7.11 $ 51.85 $ 107,850
Lansing-East Lansing, MI 150 0.77 4.73 $ 39.15 $ 81,430
Bridgeport-Stamford-Norwalk, CT 220 0.59 3.58 $ 63.53 $ 132,140
Topeka, KS 60 0.55 3.37 $ 50.57 $ 105,180
Omaha-Council Bluffs, NE-IA 230 0.49 2.97 $ 57.16 $ 118,900
Madison, WI 180 0.47 2.88 $ 58.74 $ 122,180
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD 1,250 0.47 2.87 $ 64.59 $ 134,350
Springfield, MA-CT 140 0.45 2.77 $ 69.38 $ 144,320
Pittsburgh, PA 410 0.39 2.40 $ 55.70 $ 115,860


Map of annual mean wages of actuaries by area, May 2021


Top paying metropolitan areas for Actuaries:

Metropolitan area Employment (1) Employment per thousand jobs Location quotient (9) Hourly mean wage Annual mean wage (2)
Atlanta-Sandy Springs-Roswell, GA 810 0.31 1.90 $ 118.04 $ 245,520
New York-Newark-Jersey City, NY-NJ-PA 2,870 0.33 2.02 $ 69.49 $ 144,550
Springfield, MA-CT 140 0.45 2.77 $ 69.38 $ 144,320
Hartford-West Hartford-East Hartford, CT 880 1.61 9.85 $ 68.99 $ 143,490
Boston-Cambridge-Nashua, MA-NH 630 0.24 1.49 $ 67.07 $ 139,510
Orlando-Kissimmee-Sanford, FL (8) (8) (8) $ 66.44 $ 138,200
Charlotte-Concord-Gastonia, NC-SC 390 0.32 1.99 $ 65.74 $ 136,750
Washington-Arlington-Alexandria, DC-VA-MD-WV 380 0.13 0.78 $ 64.69 $ 134,550
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD 1,250 0.47 2.87 $ 64.59 $ 134,350
Bridgeport-Stamford-Norwalk, CT 220 0.59 3.58 $ 63.53 $ 132,140

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 0.41 2.49 $ 50.46 $ 104,950

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 0.41 2.49 $ 50.46 $ 104,950

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 0.41 2.49 $ 50.46 $ 104,950


About May 2021 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.

(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 2021 National Occupational Employment and Wage Estimates

May 2021 State Occupational Employment and Wage Estimates

May 2021 Metropolitan and Nonmetropolitan Area Occupational Employment and Wage Estimates

May 2021 National Industry-Specific Occupational Employment and Wage Estimates

May 2021 Occupation Profiles

Technical Notes

 

Last Modified Date: March 31, 2022