Entry-Level Actuary Salary in Rapid City, SD: $64,389 (2026)
Quick Answer:New actuaries entering the Rapid City, SD job market in 2026 can expect a starting salary around $64,389 (BLS 10th-percentile benchmark for SOC 15-2011, projected from 2025 OEWS data). Stripping out Rapid City's local price level (BEA RPP 92.8 — 7% below national), a first-year paycheck buys what $69,385 would in average-cost America. Most reach the city median ($106,797) within a few years of clinical practice.
Based on BLS state-level estimates · View source
Entering the actuarial profession in Rapid City, SD, can be a rewarding opportunity for new graduates, particularly with a projected starting actuary salary of $64,389 in 2026. This figure represents a substantial gap when compared to the median salary for all actuaries in the area, which stands at $106,797. New grads can expect to see gradual salary increases as they progress, moving from the lower range (P10) toward the P25 mark of $79,328 and eventually approaching the median over their first three to five years in the workforce. Given these numbers, Rapid City presents a reasonably competitive market for entry-level actuaries, providing an encouraging environment for early-career professionals looking to grow their skills and attain further credentials.
About the Rapid City Market
Salary estimated from South Dakota average ($105,000) adjusted for local cost of living.
Career Earnings Timeline in Rapid City
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 Rapid City
Entry-level actuarys in Rapid City, SD typically start between $64,389 and $79,328 per year (2026 est.). The full salary range spans $101,146 from the 10th to 90th percentile, with the local median at $106,797 — 20.4% below the national median.
Return on Investment
The average actuarial science program cost in South Dakota of $40,000 represents just 62.12% of the starting actuary pay ($64,389/year) in Rapid City. 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 Rapid City
- 1Research the Rapid City market: entry-level actuary pay ranges from $64,389 to $79,328, 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 SD often pay a premium for expanded scope of work.
- 3Evaluate the full compensation package — in Rapid City, 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 Rapid City for competitive entry-level pay and structured mentorship, then move to a smaller employer once you have 2-3 years of experience.
- 5Rapid City'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 Rapid City is $101,146 ( 157.09%) between entry-level and top earners. Starting at $64,389, experienced hygienists can earn up to $165,535.
Represents the current salary spread across experience levels, not projected career growth rate.
2019 BLS Actual
$51,505
2025 BLS Actual
$62,392
2026 Current Est.
$64,389
2019–2027 Growth
+29.0%
Salary Trajectory for Actuaries in Rapid City (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.20% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2019 | $51,505 | Actual |
| 2020 | $52,434 | Actual |
| 2021 | $50,234 | Actual |
| 2022 | $56,984 | Actual |
| 2023 | $59,859 | Actual |
| 2024 | $58,822 | Actual |
| 2025 | $62,392 | Actual |
| 2026(current) | $64,389 | Estimated |
| 2027 | $66,449 | Projected |
Entry-level actuary compensation (10th percentile) in Rapid City, SD grew 21.1% over 7 years based on actual BLS metropolitan area surveys, rising from $51,505 in 2019 to $62,392 in 2025. By 2027, starting salaries are projected to reach $66,449. New graduates entering the Rapid City job market can expect continued year-over-year gains.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Rapid City 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 Rapid City
Employers in Rapid City tend to favor candidates from established life insurance companies such as Prudential, MetLife, and Northwestern Mutual, which actively recruit actuarial students and provide structured paths for exam preparation. Health insurers are also on the lookout for entry-level talent, offering opportunities that allow for early engagement with industry challenges. Meanwhile, consulting firms like Milliman, Mercer, Aon, and WTW typically seek candidates with ASA-level credentials, attracting them with higher starting salaries. To boost their entry-level pay, graduates should consider pursuing continued education, such as VEE credits in economics and accounting, and preparing for actuarial exams offered by the SOA or CAS. Each passed exam increases earning potential, adding between $3,000 and $8,000 to base salaries, making it crucial for new grads to develop a strategic study plan. In this evolving market, where predictive analytics skills are increasingly valuable, entry-level actuaries can position themselves for strong salary growth, enhancing their earning trajectory during the critical first few years in their careers.
More salary data for Rapid City, SD:
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 Rapid City. Program costs are averages and actual tuition varies by institution. ROI calculations are simplified estimates.
Data Sources & Methodology
Salary data for Rapid City 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