Entry-Level Actuary Salary in Schaumburg, IL: $81,126 (2026)
Quick Answer:New actuaries entering the Schaumburg, IL job market in 2026 can expect a starting salary around $81,126 (BLS 10th-percentile benchmark for SOC 15-2011, projected from 2025 OEWS data). Stripping out Schaumburg's local price level (BEA RPP 97.1 — 3% below national), a first-year paycheck buys what $83,549 would in average-cost America. Most reach the city median ($127,930) within a few years of clinical practice.
Based on BLS state-level estimates · View source
Exploring starting pay in Schaumburg, Illinois for entry-level actuaries reveals that new graduates can expect a minimum threshold of $81,126 in annual salary. Compared to the median annual salary of $127,930 that more experienced actuaries command in the city, this entry-level figure represents a significant gap. However, the earning potential grows steadily, as those in early-career positions can realistically anticipate moving from the $81,126 mark to approximately $98,120 as they gain experience, typically over a span of three to five years. Given the competitive local job market for actuaries, where the projected 2026 salaries provide strong incentives for newcomers, Schaumburg remains an appealing destination for recent graduates seeking a foothold in the actuarial profession.
About the Schaumburg Market
Salary estimated from Illinois average ($130,000) adjusted for local cost of living.
Career Earnings Timeline in Schaumburg
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 Schaumburg
Entry-level actuarys in Schaumburg, IL typically start between $81,126 and $98,120 per year (2026 est.). The full salary range spans $117,166 from the 10th to 90th percentile, with the local median at $127,930 — 4.64% below the national median.
Return on Investment
The average actuarial science program cost in Illinois of $68,000 represents just 83.82% of the starting actuary pay ($81,126/year) in Schaumburg. 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 Schaumburg
- 1Research the Schaumburg market: entry-level actuary pay ranges from $81,126 to $98,120, 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 Schaumburg, 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 Schaumburg for competitive entry-level pay and structured mentorship, then move to a smaller employer once you have 2-3 years of experience.
- 5Schaumburg'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 Schaumburg is $117,166 ( 144.42%) between entry-level and top earners. Starting at $81,126, experienced hygienists can earn up to $198,292.
Represents the current salary spread across experience levels, not projected career growth rate.
2019 BLS Actual
$64,893
2025 BLS Actual
$78,610
2026 Current Est.
$81,126
2019–2027 Growth
+29.0%
Salary Trajectory for Actuaries in Schaumburg (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.20% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2019 | $64,893 | Actual |
| 2020 | $66,064 | Actual |
| 2021 | $63,292 | Actual |
| 2022 | $71,797 | Actual |
| 2023 | $75,418 | Actual |
| 2024 | $77,848 | Actual |
| 2025 | $78,610 | Actual |
| 2026(current) | $81,126 | Estimated |
| 2027 | $83,722 | Projected |
Entry-level actuary compensation (10th percentile) in Schaumburg, IL grew 21.1% over 7 years based on actual BLS metropolitan area surveys, rising from $64,893 in 2019 to $78,610 in 2025. By 2027, starting salaries are projected to reach $83,722. New graduates entering the Schaumburg job market can expect continued year-over-year gains.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Schaumburg 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 Schaumburg
Larger employers in the Schaumburg area, such as Prudential, MetLife, and Northwestern Mutual, frequently target newly qualified graduates through structured campus recruitment initiatives, often providing built-in support for exam preparation. Health insurers and consulting firms like Milliman, Mercer, Aon, and WTW also seek entry-level actuaries, attracting candidates with pathways to valuable credentials such as the ASA. Earning a bachelor’s degree in mathematics, statistics, or actuarial science, while passing crucial actuarial exams, is vital for enhancing one's marketability. Each exam passed can lead to a substantial increase in salary, often ranging from $3,000 to $8,000. As aspiring actuaries gain experience and advance toward fellowship status, especially within consulting firms, they should see meaningful increases in their salaries beyond initial rates, encouraging them to develop expertise in predictive analytics and data science, increasingly sought in today's market.
More salary data for Schaumburg, 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 Schaumburg. Program costs are averages and actual tuition varies by institution. ROI calculations are simplified estimates.
Data Sources & Methodology
Salary data for Schaumburg 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