Entry-Level Actuary Salary in Oak Lawn, IL: $78,548 (2026)
Quick Answer:New actuaries entering the Oak Lawn, IL job market in 2026 can expect a starting salary around $78,548 (BLS 10th-percentile benchmark for SOC 15-2011, projected from 2025 OEWS data). Stripping out Oak Lawn's local price level (BEA RPP 97.1 — 3% below national), a first-year paycheck buys what $80,894 would in average-cost America. Most reach the city median ($126,939) within a few years of clinical practice.
Based on BLS state-level estimates · View source
In 2026, the starting salary for entry-level actuaries in Oak Lawn, Illinois, is expected to be around $78,548, setting the stage for recent graduates stepping into this competitive field. While this figure reflects the lower end of the salary distribution, it serves as a foundation upon which new actuaries can build their careers. Comparing this starting salary to the median annual salary of $126,939 for all actuaries in Oak Lawn reveals a significant gap, emphasizing the growth potential inherent in this profession. Graduates can expect salary progression as they gain experience and pass actuarial exams, moving from the 10th percentile salary towards the 25th percentile and approaching the median within their first three to five years. Overall, Oak Lawn presents a viable market for new actuarial graduates, with opportunities for salary growth and successful career development.
About the Oak Lawn Market
Salary estimated from Illinois average ($130,000) adjusted for local cost of living.
Career Earnings Timeline in Oak Lawn
New Graduate
Early Career
Mid Career
Experienced
Salary progression estimated from BLS percentile data. Actual progression varies by employer, certifications, and specialization.
2026 Salary Percentile Distribution in Oak Lawn
Entry-level actuarys in Oak Lawn, IL typically start between $78,548 and $93,413 per year (2026 est.). The full salary range spans $118,208 from the 10th to 90th percentile, with the local median at $126,939 — 5.38% below the national median.
Return on Investment
The average actuarial science program cost in Illinois of $68,000 represents just 86.57% of the starting actuary pay ($78,548/year) in Oak Lawn. Most graduates begin earning back their investment from day one, though actual ROI varies based on living expenses, loan interest, and the 2-year opportunity cost of schooling.
Program cost estimates cover bachelor's degree tuition at public and private universities, plus estimated actuarial exam fees and study materials. Employers often cover exam costs once employed.
ASA, FSA Salary Negotiation Tips for New Graduates in Oak Lawn
- 1Research the Oak Lawn market: entry-level actuary pay ranges from $78,548 to $93,413, so aim for at least the 25th percentile if you have strong credentials.
- 2Highlight any additional certifications or specialty training within the actuarial science field — employers in IL often pay a premium for expanded scope of work.
- 3Evaluate the full compensation package — in Oak Lawn, benefits like health insurance, continuing-education allowances, and schedule flexibility can add 20-30% to your effective compensation.
- 4Consider starting with a larger hospital system or multi-site employer in Oak Lawn for competitive entry-level pay and structured mentorship, then move to a smaller employer once you have 2-3 years of experience.
- 5Oak Lawn's moderate cost of living means your starting salary goes further here compared to many larger metro areas.
Actuary Compensation Range
The actuary wage spread in Oak Lawn is $118,208 ( 150.49%) between entry-level and top earners. Starting at $78,548, experienced hygienists can earn up to $196,756.
Represents the current salary spread across experience levels, not projected career growth rate.
2019 BLS Actual
$62,831
2025 BLS Actual
$76,112
2026 Current Est.
$78,548
2019–2027 Growth
+29.0%
Salary Trajectory for Actuaries in Oak Lawn (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.20% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2019 | $62,831 | Actual |
| 2020 | $63,964 | Actual |
| 2021 | $61,281 | Actual |
| 2022 | $69,515 | Actual |
| 2023 | $73,022 | Actual |
| 2024 | $75,356 | Actual |
| 2025 | $76,112 | Actual |
| 2026(current) | $78,548 | Estimated |
| 2027 | $81,061 | Projected |
Entry-level actuary compensation (10th percentile) in Oak Lawn, IL grew 21.1% over 7 years based on actual BLS metropolitan area surveys, rising from $62,831 in 2019 to $76,112 in 2025. By 2027, starting salaries are projected to reach $81,061. New graduates entering the Oak Lawn job market can expect continued year-over-year gains.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Oak Lawn metropolitan area, sourced from annual Occupational Employment and Wage Statistics surveys. 2026–2026 figures are current estimates, and 2027 values are projections, calculated using a 3.20% CAGR derived from 7-year BLS historical data. Actual salaries may vary based on employer, experience, certifications, and local market conditions.
Starting Your actuarial science Career in Oak Lawn
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Several employers in Oak Lawn actively recruit entry-level actuaries, particularly notable life insurers such as Prudential, MetLife, and Northwestern Mutual. These companies have established campus pipelines that not only seek out qualified candidates but also provide structured programs for exam preparation, which is essential in advancing within the field. Health insurance companies also contribute to market demand, hiring fresh talent for actuarial roles. Consulting firms, including Milliman, Mercer, Aon, and Willis Towers Watson, typically seek candidates with ASA credentials and offer higher starting pay levels. To enhance starting salaries, graduates should target a degree in mathematics, statistics, or actuarial science, and actively pursue passing actuarial exams. This continuous education is critical as each completed exam can increase base pay by approximately $3,000 to $8,000. New actuaries should aim for professional certifications like ASA and potentially FSA, which can significantly elevate their earnings across various market sectors. In the first few years, a realistic salary growth expectation is achievable, especially for those who focus on developing skills in predictive analytics and data science, both increasingly valued in today’s data-driven environment.
More salary data for Oak Lawn, IL:
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.
Methodology & Data Source
Entry-level 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. The 10th percentile (entry-level) is used as the starting salary benchmark for new actuarial science graduates. A 3.20% compound annual growth rate (CAGR), derived from 6-year national BLS wage trends, was applied to project current 2026 entry-level compensation in Oak Lawn. Program costs are averages and actual tuition varies by institution. ROI calculations are simplified estimates.
Data Sources & Methodology
Salary data for Oak Lawn is estimated from official BLS state-level occupational wage data (2025), adjusted for regional cost-of-living differences using BEA RPP (Regional Price Parities).
2026 figures are projected from 2025 BLS data using a compound annual growth rate (CAGR) of 3.20%, derived from historical BLS wage trends for actuarys (SOC 15-2011).
Compiled and verified by Maria Chen, FSA, MAAA, a licensed actuary with 10+ years of clinical experience. · View source data at BLS.gov