Entry-Level Actuary Salary (2026): What New Grad Actuarial Analysts Actually Make
The average entry-level actuarial analyst salary is $80,482 per year ($38.69/hour) in 2026, based on the 10th percentile of BLS wage data. New actuary starting pay ranges from $49,443 to $121,224 in Stamford, CT — driven by SOA vs CAS track, exam-passing progression bumps, life vs P&C vs health vs pension specialty, and rotation program structure.
2019 BLS
$64,860
2025 BLS
$78,570
2026 Current Est.
$81,084
2019–2027 Growth
+29.0%
National Entry-Level Actuary Salary Trend (10th Percentile)
2019–2025: BLS OEWS actual data. 2026+: CAGR 3.20% projection.
| Year | Entry-Level Salary (P10) | Status |
|---|---|---|
| 2019 | $64,860 | Actual |
| 2020 | $66,030 | Actual |
| 2021 | $63,260 | Actual |
| 2022 | $71,760 | Actual |
| 2023 | $75,380 | Actual |
| 2024 | $75,240 | Actual |
| 2025 | $78,570 | Actual |
| 2026(current) | $81,084 | Estimated |
| 2027 | $83,679 | Projected |
Entry-level actuary salaries (10th percentile) have shown consistent growth over 7 years of BLS data. The 10th percentile represents typical starting pay for new graduates and early-career professionals. At the current 3.20% CAGR, starting salaries are projected to continue rising through 2027.
Note: BLS actual data is sourced from the Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS) survey. Estimated and projected values are calculated using a 3.20% historical CAGR. Actual compensation may vary based on employer, experience, certifications, and local market conditions.
Starting Actuary Salary by State
Entry-level actuary pay varies dramatically by state. The top-paying states offer starting salaries well above $80,482, while others fall below the national average. Here are all 52 states ranked by average starting salary for actuaries.
| # | State | Avg Starting Pay |
|---|---|---|
| 1 | Connecticut | $102,122 |
| 2 | New York | $91,473 |
| 3 | District of Columbia | $90,475 |
| 4 | New Jersey | $90,108 |
| 5 | Nevada | $87,458 |
| 6 | Massachusetts | $86,857 |
| 7 | Maine | $86,608 |
| 8 | Washington | $85,917 |
| 9 | Arizona | $83,830 |
| 10 | Oregon | $83,405 |
| 11 | Virginia | $82,812 |
| 12 | Maryland | $82,563 |
| 13 | Colorado | $82,184 |
| 14 | Pennsylvania | $81,941 |
| 15 | Minnesota | $81,103 |
| 16 | Nebraska | $81,026 |
| 17 | California | $80,982 |
| 18 | Utah | $80,848 |
| 19 | Illinois | $80,795 |
| 20 | Wisconsin | $80,322 |
| 21 | Iowa | $79,280 |
| 22 | Delaware | $78,029 |
| 23 | Missouri | $78,023 |
| 24 | Florida | $77,822 |
| 25 | North Carolina | $76,467 |
| 26 | Tennessee | $75,640 |
| 27 | Texas | $75,436 |
| 28 | Ohio | $75,275 |
| 29 | Georgia | $73,612 |
| 30 | South Carolina | $72,529 |
| 31 | Rhode Island | $72,469 |
| 32 | New Hampshire | $72,368 |
| 33 | Alabama | $72,233 |
| 34 | Indiana | $71,859 |
| 35 | Oklahoma | $71,667 |
| 36 | Hawaii | $71,342 |
| 37 | Michigan | $71,209 |
| 38 | Vermont | $69,409 |
| 39 | Kansas | $68,867 |
| 40 | Mississippi | $68,683 |
| 41 | Alaska | $68,659 |
| 42 | Kentucky | $67,042 |
| 43 | Louisiana | $66,929 |
| 44 | North Dakota | $66,612 |
| 45 | New Mexico | $66,443 |
| 46 | Wyoming | $65,801 |
| 47 | South Dakota | $64,044 |
| 48 | Montana | $63,675 |
| 49 | Idaho | $63,265 |
| 50 | Arkansas | $60,752 |
| 51 | West Virginia | $57,883 |
| 52 | Puerto Rico | $49,443 |
Beginner Actuary Pay: Top 20 Cities
These 20 metro areas offer the highest starting salaries for new actuaries. Each figure represents the 10th percentile of local BLS wage data — the typical pay range for professionals with little to no experience.
| # | City | Starting Salary |
|---|---|---|
| 1 | Stamford, CT | $121,224 |
| 2 | Danbury, CT | $119,743 |
| 3 | Oakland, CA | $107,334 |
| 4 | New Haven, CT | $105,016 |
| 5 | East Hartford, CT | $104,992 |
| 6 | Fremont, CA | $104,967 |
| 7 | Hartford, CT | $104,418 |
| 8 | Bridgeport, CT | $102,612 |
| 9 | North Las Vegas, NV | $102,366 |
| 10 | West Hartford, CT | $101,719 |
| 11 | Henderson, NV | $100,048 |
| 12 | Kingston, NY | $99,773 |
| 13 | Middletown, NY | $99,523 |
| 14 | Oswego, NY | $99,332 |
| 15 | Lackawanna, NY | $99,244 |
| 16 | Kearny, NJ | $99,068 |
| 17 | Amsterdam, NY | $98,919 |
| 18 | Manalapan, NJ | $98,763 |
| 19 | Old Bridge, NJ | $98,378 |
| 20 | Atlantic City, NJ | $98,376 |
Actuary Salary With No Experience: New Grad Reality
The 10th percentile of BLS wage data is the standard proxy for entry-level actuary pay — it represents what the lowest-paid 10% of actuaries in a given metro area earn, predominantly new grad actuarial analysts in their first year. Nationally, that sits at $80,482 ($38.69/hour) for 2026. New actuarial analyst offers reward exam progression — most employers pay structured raises ($3,000–$5,000) per exam passed, in addition to base raises.
What New Grad Actuaries Actually Earn (Year 1)
- P&C actuarial new grad (top tier, 2 exams passed) — Liberty Mutual, Travelers, Hartford, Progressive, GEICO, USAA, State Farm, Allstate, AIG, Chubb. $72,000–$92,000 base + signing + bonus + exam raises.
- Life actuarial new grad (2 exams passed) — NW Mutual, NY Life, MassMutual, Pru, MetLife, John Hancock, Lincoln, Sun Life, Manulife. $70,000–$88,000 base + bonus.
- Health actuarial new grad (2 exams passed) — UnitedHealth, Anthem (Elevance), CVS Aetna, Humana, Cigna, BCBS regional. $72,000–$90,000 base + bonus.
- Consulting actuarial new grad (Mercer, WTW, Aon, Milliman, Oliver Wyman, Deloitte, EY) — $75,000–$95,000 base + signing + bonus. Premier exit options.
- Pension actuarial (Mercer, WTW, Aon, Buck, Findley) — $68,000–$85,000 base + bonus.
- Reinsurance actuarial trainee (Munich Re, Swiss Re, Hannover Re, RGA, SCOR) — premium track. $80,000–$100,000 base + bonus.
- Federal actuarial (SSA, OPM, CMS, GAO, GS-9 to GS-11) — $55,000–$75,000 base + pension + PSLF.
- Investment / asset management actuarial (BlackRock, Pimco, hedge fund quant-actuarial) — premium niche. $90,000–$120,000 base + bonus.
- Captive insurance actuarial — niche role at corporate self-insurance.
- Big Tech / non-traditional actuarial (Meta, Google, Amazon risk team) — emerging path. Premium total comp.
SOA + CAS Exam Track
- SOA (Society of Actuaries) track — life, health, pension, investment. ASA → FSA credential.
- CAS (Casualty Actuarial Society) track — P&C. ACAS → FCAS credential.
- Exam P (Probability) — foundational. SOA + CAS shared.
- Exam FM (Financial Mathematics) — foundational. SOA + CAS shared.
- SOA Exam IFM / FAM / SRM / FAM-L / FAM-S — mid-level SOA exams.
- CAS Exam MAS-I / MAS-II / Exam 5 / Exam 6 — mid-level CAS exams.
- VEE (Validation by Educational Experience) — coursework credit for Statistics, Economics, Accounting/Finance.
- FSA / FCAS Fellowship exams — typically completed years 4–7.
- EA (Enrolled Actuary) — required for ERISA pension valuations.
- Study time — employers typically provide 100–150 hours paid study time per exam + exam fees.
Setting Selection: Insurance / Consulting / Pension / Reinsurance / Federal
- P&C insurance carrier (broadest entry market) — Liberty Mutual, Travelers, Hartford, Progressive, GEICO, USAA, State Farm, Allstate, AIG, Chubb.
- Life insurance carrier — NW Mutual, NY Life, MassMutual, Pru, MetLife, John Hancock, Lincoln, Sun Life.
- Health insurance carrier — UnitedHealth, Anthem, CVS Aetna, Humana, Cigna, BCBS regional.
- Consulting actuarial (premium new grad path) — Mercer, WTW, Aon, Milliman, Oliver Wyman, Deloitte, EY.
- Pension consulting — Mercer, WTW, Aon, Buck, Findley.
- Reinsurance (premium technical depth) — Munich Re, Swiss Re, Hannover Re, RGA, SCOR.
- Federal (SSA, OPM, CMS, GAO) — pension + PSLF.
- Investment / asset management (premium quant-adjacent) — BlackRock, Pimco, hedge fund quant-actuarial.
- Captive insurance / corporate self-insurance — niche.
- Big Tech non-traditional — Meta, Google, Amazon risk teams (emerging).
Year-by-Year Progression to Actuary National Median
- Year 0–1 (P10 baseline, 0–2 exams) — $80,482 national average.
- Year 1–3 (3–5 exams passed) — $3,000–$5,000 raise per exam. Most analysts reach $90,000–$110,000.
- Year 3–5 (ASA / ACAS credential) — Associate-level. Typical promotion to senior analyst.
- Year 5–8 (FSA / FCAS Fellowship) — Fellow-level. Substantial comp jump ($130,000–$180,000+ base).
- Year 8–12 (manager / consulting actuary) — Fellow + manager = $180,000–$280,000+ total.
- Year 12+ (Chief Actuary / Principal / Partner) — Chief Actuary = $350,000–$700,000+ at major carrier; Partner at consulting = $400,000–$1M+ total.
2026 New Actuary Salary Outlook
Entry-level actuary pay has grown at a compound annual rate of 3.20% nationally over the past five years — driven by climate / cyber / pandemic risk reshaping P&C, structural Medicare-Advantage / ACA marketplace expansion driving health actuarial demand, pension consolidation (PRT / pension risk transfer) work, and limited actuarial pipeline. The BLS projects actuary employment growth at 22% through 2033 — among the fastest-growing professional occupations.
Entry-Level to Mid-Career: Actuary Salary Growth
Actuary salaries follow a predictable growth curve. Here's how pay typically progresses from entry-level to experienced:
How to Maximize Your Starting Actuary Salary
New grad actuarial analysts who pass 2–3 exams before graduation, target consulting / reinsurance / investment tier, and stack VEE credits consistently land starting compensation 25–50% above the national average. Here's how to maximize your first actuary total comp:
1. Pass 2-3 Exams Before Graduation
- Exam P (Probability) — foundational. Aim to pass junior year.
- Exam FM (Financial Mathematics) — foundational. Aim to pass junior/senior year.
- SOA Exam IFM / FAM OR CAS Exam MAS-I — 3rd exam shows commitment.
- VEE credit (Statistics + Economics + Accounting/Finance) — complete during undergrad.
- Coaching Actuaries / TIA Adapt — most successful candidates use structured prep platforms.
- Exam pass rate (40–50% per exam) — plan for retakes.
- Highest-paying new actuary metro — Stamford, CT at $121,224.
2. Choose SOA or CAS Track Strategically
- SOA track (life, health, pension, investment) — broader entry market. ASA → FSA.
- CAS track (P&C only) — premium starting pay; smaller market. ACAS → FCAS.
- P&C is currently strongest entry market — climate + cyber + commercial complexity.
- Health actuarial premium — Medicare Advantage / ACA marketplace expansion.
- EA (Enrolled Actuary) — required for ERISA pension. Pension consulting path.
- Investment / quant-actuarial — emerging premium niche.
3. Target Consulting / Reinsurance / Investment Tier
- Consulting actuarial (premium new grad path) — Mercer, WTW, Aon, Milliman, Oliver Wyman, Deloitte, EY. Premier exit options.
- Reinsurance (premium technical) — Munich Re, Swiss Re, Hannover Re, RGA, SCOR.
- Investment / asset management (quant-adjacent) — BlackRock, Pimco, hedge fund risk teams.
- P&C carrier rotation programs — Liberty, Travelers, Hartford, Progressive, USAA.
- Health carrier rotation — UnitedHealth, Anthem, CVS Aetna, Humana, Cigna.
- Big Tech non-traditional risk teams — Meta, Google, Amazon emerging actuarial.
4. Negotiate Base + Exam Raises + Signing
- Exam-passing raises — confirm structured $3,000–$5,000 per exam pass.
- Study time + exam fee reimbursement — 100–150 paid study hours per exam + all fees.
- Signing bonus — $5,000–$15,000 typical at top employers.
- Pass-or-no-bonus structure — verify exam policy (some require pass within 18–24 months for continued raises).
- Performance bonus (10–20% target) — verify target % + payout history.
- Relocation — $5,000–$15,000 typical.
- Consulting overtime / utilization bonus — premium at Big 4 / WTW / Mercer.
5. Plan ASA → FSA / ACAS → FCAS Path
- ASA / ACAS (Associate, 4–6 years) — typical first 5-year career milestone.
- FSA / FCAS Fellowship (6–8 years) — Fellow-level. Major comp jump.
- Manager / Consulting Actuary track — Fellow + manager = $180,000–$280,000+ total.
- Chief Actuary / Principal / Partner (12+ years) — $400,000–$1M+ total comp.
- CFA add-on (investment-track actuaries) — premium asset management path.
- CERA (Chartered Enterprise Risk Analyst) — premium ERM specialty.
- Consulting independent / boutique path — $200–$500/hour for senior consulting.
- Big Tech / fintech non-traditional — emerging quant-actuarial premium path.
More Salary Resources
Frequently Asked Questions
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Written by Maria Chen, FSA, MAAA
Career Analyst
Maria has 10 years of experience in life insurance. She specializes in risk assessment and pricing strategies.
Data Sources & Methodology
Source: BLS, OEWS , released .
Compiled and verified by Maria Chen, FSA, MAAA, a licensed actuary with 10+ years of clinical experience. · View source data at BLS.gov
Methodology & Data Source
Salary figures on this page are 2026 projections based on the Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS) survey, May 2026 release. We applied a 3.20% compound annual growth rate (CAGR), derived from 6-year national BLS trends, to estimate current 2026 compensation.