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Actuary: pay, job outlook and how to become one

Updated October 23, 2026. Based on U.S. Bureau of Labor Statistics and O*NET data. Published by Humblebee.

$130,000median pay per year, or $62.50 an hour, May 2025[1]
  1. $78,570lowest 10% earn less
  2. $97,68025th percentile
  3. $130,000median
  4. $170,65075th percentile
  5. $215,100top 10% earn more
Middle half of workers in the inner band[3]Median for all US jobs, $50,980[4]

Actuaries had a median pay of $130,000 a year in May 2025[1]. Jobs are projected to grow 9.2% from 2025 to 2035[2].

Job growth, 2025–35
+9.2%[2]
Openings per year
1,500[5]
Typical entry education
Bachelor's degree[6]

How much do actuaries make?

The median pay for actuaries was $130,000 a year, or $62.50 an hour, in May 2025[1]. Half of actuaries made more than that and half made less. The mean (average) was $141,480 a year, or $68.02 an hour[7]. For all occupations, the median annual wage was $50,980[4].

Pay varies a lot within the job. The lowest-paid 10% earned less than $78,570 a year, and the 25th percentile was $97,680[3]. The 75th percentile was $170,650 and the 90th percentile was $215,100[3]. In hourly terms, the 10th percentile was $37.77 and the 90th percentile was $103.41[8]. A percentile is a boundary, and BLS publishes percentile wages, not a starting salary[9].

Measure Annual wage Source
10th percentile[3] $78,570
25th percentile[3] $97,680
Median[1] $130,000
75th percentile[3] $170,650
90th percentile[3] $215,100

These figures cover wage and salary workers only. They leave out the self-employed, and they do not include nonproduction bonuses or the cost of benefits such as health insurance[10]. About 26,670 people worked as actuaries in this count[11].

Pay by state and city

BLS published medians for 35 states and DC[12]. Connecticut had the highest at $166,800[12]. The District of Columbia was next at $166,230, then New York at $156,480[12]. Louisiana had the lowest published median, at $80,860[12].

New York also had the most actuary jobs, at 2,630[13]. Illinois followed with 2,280, then Texas with 1,750, Pennsylvania with 1,710 and Georgia with 1,470[13]. Illinois had a median of $115,430 and Texas had $105,020[12].

Among metro areas with at least 100 jobs, the highest medians were in Bridgeport-Stamford-Danbury, CT at $194,130, San Francisco-Oakland-Fremont, CA at $175,330, and Hartford-West Hartford-East Hartford, CT at $166,800[14]. The metro areas with the most jobs were New York-Newark-Jersey City at 2,780, Chicago-Naperville-Elgin at 1,560 and Atlanta-Sandy Springs-Roswell at 1,200[15].

Show median pay in 35 states and DC
StateMedian per yearJobs
Connecticut[12]$166,8001,380
District of Columbia$166,230160
New York$156,4802,630
New Jersey$142,8001,260
Alabama$136,950190
Arizona$135,870200
Washington$134,720360
Utah$132,720180
Nevada$132,370120
Florida$132,1101,300
Virginia$131,900440
Wisconsin$131,640890
California$130,5101,280
Oregon$130,380210
Missouri$129,220390
North Carolina$128,730610
Iowa$128,690530
Minnesota$128,1001,170
Maryland$126,950580
Massachusetts$126,040n/a
Pennsylvania$125,0401,710
Kansas$125,010180
Colorado$120,440500
Kentucky$120,40070
Maine$119,62080
Illinois$115,4302,280
Rhode Island$111,090100
Ohio$110,9801,090
Oklahoma$109,76070
Tennessee$108,930300
Mississippi$106,21040
Texas$105,0201,750
Nebraska$102,790270
Indiana$100,690780
Michigan$100,640570
Louisiana$80,86040

How to become an actuary

The typical path looks like this[6][16]:

1) Earn a bachelor's degree. BLS lists a bachelor's degree as the usual entry education, with no related work experience needed[6]. The degree is typically in mathematics, actuarial science, statistics or another analytical field[16]. 2) Take the right coursework. Students need courses such as economics, applied statistics and corporate finance[16]. Computer science, programming and skill with spreadsheets, databases and statistical tools also matter[17]. 3) Consider an internship. Actuaries work in health, life, pension and casualty areas, and internships can help a student pick a track[18]. 4) Start as a trainee. New actuaries usually begin as trainees on teams with experienced mentors[19]. They start with basic tasks such as compiling data and take on research and report writing as they gain experience[19]. BLS lists long-term on-the-job training for this job[6]. 5) Pass certification exams. Actuaries typically complete a certification program with a series of exams and seminars on professionalism[20]. Many employers expect new hires to have passed at least one or two exams before graduation[20].

Employers may pay for exams and study materials or give paid study time, and some raise pay or give bonuses for each exam passed[21].

How long it takes. Earning the associate-level certification may take up to 7 years[22]. Reaching fellowship status usually takes several more years[22]. Fellowship is offered in five tracks, including life and annuities, retirement benefits, and enterprise risk management[23].

Pension actuaries typically need a license from the Joint Board for the Enrollment of Actuaries, which also involves experience requirements and exams[24].

What actuaries do

Actuaries use statistics to measure risk and work out what future benefits will cost[25]. Typical tasks include:

Job titles reported by workers include actuarial analyst, consulting actuary, health actuary, life actuary and pricing actuary[27].

Where actuaries work

Finance and insurance employed 78% of actuaries in 2025[28]. Actuaries usually work in an office. Those at consulting firms may travel to meet clients[29]. They typically work on teams with managers and professionals in fields such as accounting, underwriting and finance[30]. Full-time work is the norm, and some actuaries work more than 40 hours a week[31].

Job outlook

BLS projects actuary employment to grow 9.2% from 2025 to 2035[2]. That is from about 31,200 to 34,100 jobs, a gain of 2,900, and the counts include self-employed workers[2]. Employment in all occupations is projected to grow 3.5% over the same years[32].

About 1,500 openings a year are projected on average[5]. Openings count jobs left by workers who retire or switch occupations, as well as new jobs[5]. Each year, 1.3% of actuaries leave the labor force and 2.6% move to a different occupation[33].

BLS names one factor behind the growth. A stronger focus on identifying, measuring and managing risk is expected to raise demand for actuaries who analyze the financial cost of risk[34].

Is it a good fit?

The facts point to a job with pay well above the all-occupations median of $50,980[1][4]. Jobs are projected to grow faster than average[2][32]. The cost is a long exam path, with up to 7 years to reach associate-level certification[22]. The work centers on data and statistics, and BLS lists analytical skills as an important quality[35]. It may suit people who like math and are ready for years of certification exams. Pay also differs by place, so the state and metro figures above are worth a look[12][14].

Related occupations from O*NET, with BLS median pay and projected growth[36].

Frequently asked questions

How much does an actuary make an hour?
The median was $62.50 an hour in May 2025, and the mean was $68.02[1][7].
How long does it take to become an actuary?
Associate-level certification may take up to 7 years, and fellowship usually takes several more years[22].
What degree do you need to be an actuary?
BLS lists a bachelor's degree as the typical entry education[6]. The field is typically mathematics, actuarial science, statistics or another analytical field[16].
Is actuary a job in demand?
BLS projects 9.2% growth from 2025 to 2035, compared with 3.5% for all occupations, and about 1,500 openings a year[2][32][5].
What is the highest paying state for actuaries?
Connecticut had the highest median at $166,800, ahead of the District of Columbia at $166,230 and New York at $156,480[12].

Facts and sources

  1. BLS OEWS, May 2025: the median wage for Actuaries in the US was $130,000 per year and $62.50 per hour. Half of workers earned more and half earned less. BLS OEWS, May 2025
  2. BLS Employment Projections: employment of Actuaries is projected to grow 9.2% from 2025 to 2035, from about 31,200 to 34,100 jobs (a change of +2,900). These counts include self-employed workers. BLS Employment Projections
  3. BLS OEWS, May 2025, annual wage percentiles for Actuaries: 10th percentile $78,570, 25th percentile $97,680, 75th percentile $170,650, 90th percentile $215,100. The 10th percentile means 10% of workers earned less. BLS OEWS, May 2025
  4. BLS OEWS, May 2025: the median annual wage for all occupations in the US was $50,980. BLS OEWS, May 2025
  5. BLS Employment Projections: about 1,500 openings for Actuaries are projected each year, on average, from 2025 to 2035. Openings include jobs that open when workers retire or move to other occupations, not only new jobs. BLS Employment Projections
  6. BLS Employment Projections, typical path into Actuaries: education needed for entry: Bachelor's degree; work experience in a related occupation: None; typical on-the-job training: Long-term on-the-job training. BLS Employment Projections
  7. BLS OEWS, May 2025: the mean (average) wage for Actuaries was $141,480 per year and $68.02 per hour. BLS OEWS, May 2025
  8. BLS OEWS, May 2025, hourly wage percentiles for Actuaries: 10th percentile $37.77, 25th percentile $46.96, 75th percentile $82.04, 90th percentile $103.41. BLS OEWS, May 2025
  9. BLS OEWS FAQ: a percentile wage is a boundary. The median (50th percentile) separates the highest-paid 50% from the lowest-paid 50% of workers in the occupation. OEWS publishes percentile wages, not a starting salary. BLS OEWS, May 2025
  10. BLS OEWS FAQ: OEWS covers part-time and full-time workers paid a wage or salary. It does not cover the self-employed, owners and partners in unincorporated firms, household workers or unpaid family workers. OEWS wages do not include nonproduction bonuses or employer costs of benefits such as health insurance or retirement contributions. BLS OEWS, May 2025
  11. BLS OEWS, May 2025: about 26,670 people were employed as Actuaries in the US (wage and salary jobs, not counting self-employed workers). BLS OEWS, May 2025
  12. Median annual wage for Actuaries in every state with published data, May 2025 (table on this page). BLS OEWS, May 2025
  13. BLS OEWS, May 2025, states with the most Actuaries jobs: New York 2,630; Illinois 2,280; Texas 1,750; Pennsylvania 1,710; Georgia 1,470. BLS OEWS, May 2025
  14. BLS OEWS, May 2025, metro areas with the highest median annual wage for Actuaries (areas with at least 100 jobs): Bridgeport-Stamford-Danbury, CT $194,130; San Francisco-Oakland-Fremont, CA $175,330; Hartford-West Hartford-East Hartford, CT $166,800; New York-Newark-Jersey City, NY-NJ $161,460; Washington-Arlington-Alexandria, DC-VA-MD-WV $144,680; Raleigh-Cary, NC $142,180; Miami-Fort Lauderdale-West Palm Beach, FL $139,810; Phoenix-Mesa-Chandler, AZ $138,570. BLS OEWS, May 2025
  15. BLS OEWS, May 2025, metro areas with the most Actuaries jobs: New York-Newark-Jersey City, NY-NJ 2,780 (median $161,460); Chicago-Naperville-Elgin, IL-IN 1,560 (median $113,730); Atlanta-Sandy Springs-Roswell, GA 1,200; Minneapolis-St. Paul-Bloomington, MN-WI 1,020 (median $125,960); Hartford-West Hartford-East Hartford, CT 960 (median $166,800); Philadelphia-Camden-Wilmington, PA-NJ-DE-MD 780 (median $127,770). BLS OEWS, May 2025
  16. Occupational Outlook Handbook, How to Become One. BLS Occupational Outlook Handbook
  17. Occupational Outlook Handbook, How to Become One: Education. BLS Occupational Outlook Handbook
  18. Occupational Outlook Handbook, How to Become One: Education. BLS Occupational Outlook Handbook
  19. Occupational Outlook Handbook, How to Become One: Training. BLS Occupational Outlook Handbook
  20. Occupational Outlook Handbook, How to Become One: Licenses, Certification, and Registrations. BLS Occupational Outlook Handbook
  21. Occupational Outlook Handbook, How to Become One: Training. BLS Occupational Outlook Handbook
  22. Occupational Outlook Handbook, How to Become One: Licenses, Certification, and Registrations. BLS Occupational Outlook Handbook
  23. Occupational Outlook Handbook, How to Become One: Licenses, Certification, and Registrations. BLS Occupational Outlook Handbook
  24. Occupational Outlook Handbook, How to Become One: Licenses, Certification, and Registrations. BLS Occupational Outlook Handbook
  25. O*NET description of Actuaries. O*NET OnLine
  26. O*NET task list for Actuaries. O*NET OnLine
  27. O*NET 15-2011.00 sample job titles reported by workers: Actuarial Analyst, Actuarial Associate, Actuarial Consultant, Actuary, Consulting Actuary, Health Actuary, Life Actuary, Pricing Actuary. O*NET OnLine
  28. BLS Occupational Outlook Handbook, largest employers of actuaries in 2025: Finance and insurance 78%. BLS Occupational Outlook Handbook
  29. Occupational Outlook Handbook, Work Environment. BLS Occupational Outlook Handbook
  30. Occupational Outlook Handbook, Work Environment. BLS Occupational Outlook Handbook
  31. Occupational Outlook Handbook, Work Environment: Work Schedules. BLS Occupational Outlook Handbook
  32. BLS Employment Projections: employment in all occupations is projected to grow 3.5% from 2025 to 2035. BLS Employment Projections
  33. BLS Employment Projections, 2025-35 annual average for Actuaries: 1.3% of workers leave the labor force each year and 2.6% move to a different occupation. BLS Employment Projections
  34. BLS Employment Projections, factor affecting employment of Actuaries: Demand change - share increases as a greater emphasis on identifying, quantifying, and managing risks leads to greater demand for actuaries to analyze the financial costs of risks and uncertainty. BLS Employment Projections
  35. Occupational Outlook Handbook, How to Become One: Important Qualities. BLS Occupational Outlook Handbook
  36. Related occupations (O*NET) with BLS pay, growth and entry education. O*NET OnLine

Notes are for reading the data only. They are not facts and cannot be cited: use the wage_scope and percentile_meaning facts instead. OEWS employment (jobs in May 2025) and Employment Projections employment (2025, includes self-employed) are different measures and can differ. O*NET education shares come from a small survey of workers in the occupation, not from all workers.

This page includes information from the O*NET 31.0 Database by the U.S. Department of Labor, Employment and Training Administration (USDOL/ETA). Used under the CC BY 4.0 license. O*NET® is a trademark of USDOL/ETA. CareerFacts has modified all or some of this information. USDOL/ETA has not approved, endorsed, or tested these modifications.