Entry-Level Actuary Salary in Salem, VA: $78,372 (2026)
Quick Answer:New actuaries entering the Salem, VA job market in 2026 can expect a starting salary around $78,372 (BLS 10th-percentile benchmark for SOC 15-2011, projected from 2025 OEWS data). Stripping out Salem's local price level (BEA RPP 103.2 — 3% above national), a first-year paycheck buys what $75,942 would in average-cost America. Most reach the city median ($134,240) within a few years of clinical practice.
Based on BLS state-level estimates · View source
In 2026, new graduates entering the actuarial field in Salem, Virginia can anticipate a starting salary of around $78,372, which represents the lowest end of the salary range for entry-level actuaries. This figure reflects a notable gap when compared to the median annual salary of $134,240 for all actuaries in the city. While achieving the median salary may seem distant at first, entry-level actuaries can expect a growth trajectory, with salaries near $105,810 as they gain experience, completing exams and accumulating skills. Overall, Salem presents an attractive market for aspiring actuaries, particularly when considering the city’s positive growth rate of 3.20% annually over the next five years, suggesting that entry-level positions are likely to offer solid career advancement opportunities.
About the Salem Market
Salary estimated from Virginia average ($128,000) adjusted for local cost of living.
Career Earnings Timeline in Salem
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 Salem
Entry-level actuarys in Salem, VA typically start between $78,372 and $105,810 per year (2026 est.). The full salary range spans $129,701 from the 10th to 90th percentile, with the local median at $134,240 — 0.06% above the national median.
Return on Investment
The average actuarial science program cost in Virginia of $58,000 represents just 74.01% of the starting actuary pay ($78,372/year) in Salem. 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 Salem
- 1Research the Salem market: entry-level actuary pay ranges from $78,372 to $105,810, 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 VA often pay a premium for expanded scope of work.
- 3Evaluate the full compensation package — in Salem, 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 Salem for competitive entry-level pay and structured mentorship, then move to a smaller employer once you have 2-3 years of experience.
- 5Salem'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 Salem is $129,701 ( 165.49%) between entry-level and top earners. Starting at $78,372, experienced hygienists can earn up to $208,073.
Represents the current salary spread across experience levels, not projected career growth rate.
2019 BLS Actual
$62,691
2025 BLS Actual
$75,942
2026 Current Est.
$78,372
2019–2027 Growth
+29.0%
Salary Trajectory for Actuaries in Salem (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.20% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2019 | $62,691 | Actual |
| 2020 | $63,821 | Actual |
| 2021 | $61,144 | Actual |
| 2022 | $69,360 | Actual |
| 2023 | $72,859 | Actual |
| 2024 | $74,285 | Actual |
| 2025 | $75,942 | Actual |
| 2026(current) | $78,372 | Estimated |
| 2027 | $80,880 | Projected |
Entry-level actuary compensation (10th percentile) in Salem, VA grew 21.1% over 7 years based on actual BLS metropolitan area surveys, rising from $62,691 in 2019 to $75,942 in 2025. By 2027, starting salaries are projected to reach $80,880. New graduates entering the Salem job market can expect continued year-over-year gains.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Salem 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 Salem
Employers in Salem actively recruit entry-level actuaries from local universities. Established life insurance companies such as Prudential, MetLife, and Northwestern Mutual design structured programs that include exam preparation time for new hires, while health insurance firms also hire entry-level talent. Consulting giants like Milliman, Mercer, Aon, and WTW are seeking candidates with ASA designations, often providing higher starting pay. To maximize their potential earnings, new grads should focus on obtaining relevant credentials, such as a Bachelor’s degree in mathematics, statistics, or actuarial science, and actively pursue passing actuarial exams. Each exam cleared typically adds approximately $3,000 to $8,000 to one’s base salary, leading to significant earnings growth within the first few years. A well-defined career strategy emphasizing the importance of progressive exam completion and the acquisition of predictive analytics skills will undoubtedly enhance prospects for new actuaries starting their careers in Salem, VA.
More salary data for Salem, VA:
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 Salem. Program costs are averages and actual tuition varies by institution. ROI calculations are simplified estimates.
Data Sources & Methodology
Salary data for Salem 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