Entry-Level Actuary Salary in Springfield, IL: $79,247 (2026)
Quick Answer:New actuaries entering the Springfield, IL job market in 2026 can expect a starting salary around $79,247 (BLS 10th-percentile benchmark for SOC 15-2011, projected from 2025 OEWS data). Stripping out Springfield's local price level (BEA RPP 92.7 — 7% below national), a first-year paycheck buys what $85,446 would in average-cost America. Most reach the city median ($121,353) within a few years of clinical practice.
Official BLS data · View source
In 2026, new graduates entering the actuarial field in Springfield, Illinois can anticipate an entry-level actuary salary starting at approximately $79,247. While this figure is lower than the city's median annual salary of $121,353, it reflects a realistic expectation for newcomers to this profession. Over the first few years, entry-level actuaries have the potential to see salary growth through various stages, with possible increases to $81,507 as they gain experience and credentials. Currently, Springfield presents a viable market for fresh graduates, especially given the growth rate in this sector is projected at 3.20% annually, indicating that opportunities for advancement and salary progression exist for those willing to invest in their professional development.
Career Earnings Timeline in Springfield
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 Springfield
Entry-level actuarys in Springfield, IL typically start between $79,247 and $81,507 per year (2026 est.). The full salary range spans $96,595 from the 10th to 90th percentile, with the local median at $121,353 — 9.55% below the national median.
Return on Investment
The average actuarial science program cost in Illinois of $68,000 represents just 85.81% of the starting actuary pay ($79,247/year) in Springfield. 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 Springfield
- 1Research the Springfield market: entry-level actuary pay ranges from $79,247 to $81,507, 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 Springfield, 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 Springfield for competitive entry-level pay and structured mentorship, then move to a smaller employer once you have 2-3 years of experience.
- 5Springfield's below-average cost of living means your starting salary goes further here compared to many larger metro areas.
Actuary Compensation Range
The actuary wage spread in Springfield is $96,595 ( 121.89%) between entry-level and top earners. Starting at $79,247, experienced hygienists can earn up to $175,842.
Represents the current salary spread across experience levels, not projected career growth rate.
2019 BLS Actual
$63,391
2025 BLS Actual
$76,790
2026 Current Est.
$79,247
2019–2027 Growth
+29.0%
Salary Trajectory for Actuaries in Springfield (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.20% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2019 | $63,391 | Actual |
| 2020 | $64,534 | Actual |
| 2021 | $61,827 | Actual |
| 2022 | $67,950 | Actual |
| 2023 | $73,672 | Actual |
| 2024 | $74,804 | Actual |
| 2025 | $76,790 | Actual |
| 2026(current) | $79,247 | Estimated |
| 2027 | $81,783 | Projected |
Entry-level actuary compensation (10th percentile) in Springfield, IL grew 21.1% over 7 years based on actual BLS metropolitan area surveys, rising from $63,391 in 2019 to $76,790 in 2025. By 2027, starting salaries are projected to reach $81,783. New graduates entering the Springfield job market can expect continued year-over-year gains.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Springfield 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 Springfield
Numerous firms in Springfield are eager to recruit new grads in the actuarial profession, especially large life insurance companies like Prudential and MetLife, which tend to build talent pipelines through campus recruitment. These organizations often provide structured study time for actuarial exams, making them attractive to new graduates eager to advance quickly through the relevant qualifications. Additionally, health insurance companies and consulting firms, such as Milliman and Mercer, often seek entry-level actuaries with a strong foundation in math, statistics, or actuarial science. Credentials matter significantly in Illinois’s actuarial market; advancing through exams and obtaining Associated status (ASA) can push starting salaries higher. Each exam passed typically results in a salary increase of $3,000 to $8,000, emphasizing the importance of continuous education and exam success. For those aspiring to long-term growth, aiming for the Fellow status (FSA) can lead to lucrative opportunities, particularly within consulting firms that value advanced qualifications and specialized skills like predictive analytics and data science.
More salary data for Springfield, 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 Springfield. Program costs are averages and actual tuition varies by institution. ROI calculations are simplified estimates.
Data Sources & Methodology
Source: BLS, OEWS, 3-year dataset (–). Per-city data from annual BLS metropolitan area surveys.
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