Entry-Level Actuary Salary in Elizabeth, NJ: $98,258 (2026)
Quick Answer:New actuaries entering the Elizabeth, NJ job market in 2026 can expect a starting salary around $98,258 (BLS 10th-percentile benchmark for SOC 15-2011, projected from 2025 OEWS data). Stripping out Elizabeth's local price level (BEA RPP 115.2 — 15% above national), a first-year paycheck buys what $85,293 would in average-cost America. Most reach the city median ($155,967) within a few years of clinical practice.
Based on BLS state-level estimates · View source
In 2026, the entry-level actuary salary in Elizabeth, New Jersey, presents new graduates with a promising starting point at approximately $98,258 annually. This initial compensation is notably lower than the city’s median salary of $155,967, reflecting the typical progression trajectory many entry-level professionals can expect as they gain experience and credentials. The gap between a new grad's pay and the median highlights the potential for salary growth over the first few years, where individuals can anticipate moving from the P10 salary threshold to the P25 mark of $119,780 as they advance their careers. Given the projected annual growth rate of 3.20%, Elizabeth is currently a favorable environment for newcomers to the actuarial field, suggesting that those who pursue relevant credentials and skills will find competitive opportunities in the local market.
About the Elizabeth Market
Salary estimated from New Jersey average ($142,000) adjusted for local cost of living.
Career Earnings Timeline in Elizabeth
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 Elizabeth
Entry-level actuarys in Elizabeth, NJ typically start between $98,258 and $119,780 per year (2026 est.). The full salary range spans $143,491 from the 10th to 90th percentile, with the local median at $155,967 — 16.25% above the national median.
Return on Investment
The average actuarial science program cost in New Jersey of $70,000 represents just 71.24% of the starting actuary pay ($98,258/year) in Elizabeth. 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 Elizabeth
- 1Research the Elizabeth market: entry-level actuary pay ranges from $98,258 to $119,780, 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 NJ often pay a premium for expanded scope of work.
- 3Evaluate the full compensation package — in Elizabeth, 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 Elizabeth for competitive entry-level pay and structured mentorship, then move to a smaller employer once you have 2-3 years of experience.
- 5Factor in Elizabeth's above-average cost of living (index: 115.2) when evaluating offers — a slightly lower salary in a nearby affordable area may provide better purchasing power.
Actuary Compensation Range
The actuary wage spread in Elizabeth is $143,491 ( 146.03%) between entry-level and top earners. Starting at $98,258, experienced hygienists can earn up to $241,749.
Represents the current salary spread across experience levels, not projected career growth rate.
2019 BLS Actual
$78,597
2025 BLS Actual
$95,211
2026 Current Est.
$98,258
2019–2027 Growth
+29.0%
Salary Trajectory for Actuaries in Elizabeth (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.20% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2019 | $78,597 | Actual |
| 2020 | $80,015 | Actual |
| 2021 | $76,658 | Actual |
| 2022 | $86,959 | Actual |
| 2023 | $91,345 | Actual |
| 2024 | $103,005 | Actual |
| 2025 | $95,211 | Actual |
| 2026(current) | $98,258 | Estimated |
| 2027 | $101,402 | Projected |
Entry-level actuary compensation (10th percentile) in Elizabeth, NJ grew 21.1% over 7 years based on actual BLS metropolitan area surveys, rising from $78,597 in 2019 to $95,211 in 2025. By 2027, starting salaries are projected to reach $101,402. New graduates entering the Elizabeth job market can expect continued year-over-year gains.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Elizabeth 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 Elizabeth
Several key employers in Elizabeth actively seek to hire new grads for actuarial positions, particularly large life insurers like Prudential and MetLife, alongside health insurance providers and consulting firms such as Milliman and Mercer. These organizations typically have structured programs that support entry-level actuaries with study time for necessary exams as part of their professional development. New graduates should prioritize obtaining a Bachelor's degree in mathematics, statistics, or actuarial science, while also focusing on passing the initial actuarial exams required by the Society of Actuaries (SOA) or the Casualty Actuarial Society (CAS). Progressing toward an Associate (ASA / ACAS) credential may significantly influence starting pay in New Jersey, with each passed exam correlating with a typical raise of $3,000 to $8,000. In focusing on predictive analytics and data science skills, entry-level actuaries can further enhance their marketability and salary potential. Realistic salary growth during the first 1-3 years indicates that new professionals can expect incrementally higher pay as they achieve vital milestones in their credentialing journey.
More salary data for Elizabeth, NJ:
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 Elizabeth. Program costs are averages and actual tuition varies by institution. ROI calculations are simplified estimates.
Data Sources & Methodology
Salary data for Elizabeth 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