Entry-Level Actuary Salary in Lakewood, OH: $70,220 (2026)
Quick Answer:New actuaries entering the Lakewood, OH job market in 2026 can expect a starting salary around $70,220 (BLS 10th-percentile benchmark for SOC 15-2011, projected from 2025 OEWS data). Stripping out Lakewood's local price level (BEA RPP 90.7 — 9% below national), a first-year paycheck buys what $77,420 would in average-cost America. Most reach the city median ($121,069) within a few years of clinical practice.
Based on BLS state-level estimates · View source
For those entering the actuarial profession, Lakewood, OH, presents a landscape with varied salary expectations for new graduates. The projected entry-level actuary salary in 2026 is set at $70,220, notably lower than the city median of $121,069. This gap illustrates the typical financial growth trajectory that new actuaries can expect as they build their experience, with potential earnings reaching $87,489 at the 25th percentile and moving toward the city median within the first few years. Given Lakewood's relatively affordable cost of living index of 90.7, entry-level actuaries can find a promising environment that encourages long-term career development. The 3.20% annual growth rate for this profession suggests that with dedication and the right strategic moves, new grads can enhance their earning potential significantly over time in this competitive market.
About the Lakewood Market
Salary estimated from Ohio average ($120,000) adjusted for local cost of living.
Career Earnings Timeline in Lakewood
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 Lakewood
Entry-level actuarys in Lakewood, OH typically start between $70,220 and $87,489 per year (2026 est.). The full salary range spans $117,437 from the 10th to 90th percentile, with the local median at $121,069 — 9.76% below the national median.
Return on Investment
The average actuarial science program cost in Ohio of $50,000 represents just 71.20% of the starting actuary pay ($70,220/year) in Lakewood. 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 Lakewood
- 1Research the Lakewood market: entry-level actuary pay ranges from $70,220 to $87,489, 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 OH often pay a premium for expanded scope of work.
- 3Evaluate the full compensation package — in Lakewood, 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 Lakewood for competitive entry-level pay and structured mentorship, then move to a smaller employer once you have 2-3 years of experience.
- 5Lakewood'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 Lakewood is $117,437 ( 167.24%) between entry-level and top earners. Starting at $70,220, experienced hygienists can earn up to $187,657.
Represents the current salary spread across experience levels, not projected career growth rate.
2019 BLS Actual
$56,170
2025 BLS Actual
$68,043
2026 Current Est.
$70,220
2019–2027 Growth
+29.0%
Salary Trajectory for Actuaries in Lakewood (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.20% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2019 | $56,170 | Actual |
| 2020 | $57,183 | Actual |
| 2021 | $54,784 | Actual |
| 2022 | $62,145 | Actual |
| 2023 | $65,280 | Actual |
| 2024 | $62,808 | Actual |
| 2025 | $68,043 | Actual |
| 2026(current) | $70,220 | Estimated |
| 2027 | $72,467 | Projected |
Entry-level actuary compensation (10th percentile) in Lakewood, OH grew 21.1% over 7 years based on actual BLS metropolitan area surveys, rising from $56,170 in 2019 to $68,043 in 2025. By 2027, starting salaries are projected to reach $72,467. New graduates entering the Lakewood job market can expect continued year-over-year gains.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Lakewood 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 Lakewood
Employers in Lakewood looking to attract newly minted actuaries include major life insurance companies like Prudential and MetLife, alongside health insurance firms that recognize the demand for fresh talent. These organizations often create robust campus recruiting programs and provide structures for study during exam prep. Consulting firms such as Milliman, Mercer, Aon, and WTW also actively recruit entry-level actuaries, often at higher base pay for candidates with an Associate of the Society of Actuaries (ASA) credential. Pursuing actuarial exams is vital within the first few years; every passed exam typically raises the base salary by approximately $3,000 to $8,000. Building credentials through the SOA and gaining foundational knowledge in predictive analytics can differentiate candidates in this evolving market. Realistic salary progression over the initial years will heavily depend on the commitment to pass these exams and add valuable skills, offering promising new grad actuary pay in OH.
More salary data for Lakewood, OH:
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 Lakewood. Program costs are averages and actual tuition varies by institution. ROI calculations are simplified estimates.
Data Sources & Methodology
Salary data for Lakewood 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