Highest Paying States for Actuaries (2026): Where Actuaries Earn the Most
The highest paying state for actuaries is Connecticut at $171,660 average median salary in 2026, based on BLS OEWS data across 52 states and 1661+ metro areas. Actuary pay varies from Puerto Rico ($70,279) to Connecticut ($171,660) — driven by P&C vs life vs health vs consulting mix, SOA / CAS Fellowship, and reinsurance specialty.
Best States for Actuary Salary: 2026 Rankings
Actuary pay variance is driven by P&C (Liberty, Travelers, Hartford, Progressive) vs life (NW Mutual, NY Life, MetLife) vs health (UnitedHealth, CVS Aetna) vs consulting (Mercer, WTW, Aon, Milliman) vs reinsurance (Munich Re, Swiss Re, RGA) mix, SOA FSA / CAS FCAS Fellowship, COL, and state income tax. Connecticut leads at $171,660, Puerto Rico sits at $70,279.
Top-Tier States
- Connecticut ($120,000-$180,000) — Hartford insurance city (Travelers, The Hartford, Aetna) + Stamford reinsurance.
- New York ($118,000-$175,000) — NYC reinsurance broker (Guy Carpenter) + consulting (Oliver Wyman, Mercer NYC).
- New Jersey ($115,000-$170,000) — Bergen / Morris + Pru / MetLife corporate.
- Massachusetts ($110,000-$162,000) — Boston Liberty Mutual HQ + John Hancock.
- California ($108,000-$160,000) — SF Bay Area + LA insurance + health.
- Pennsylvania ($100,000-$148,000) — Philadelphia Lincoln Financial + Independence Blue Cross.
Mid-Tier Markets
- Illinois ($95,000-$140,000) — Chicago Allstate + State Farm Bloomington nearby + consulting.
- Minnesota ($92,000-$135,000) — Twin Cities Securian + Allianz Life + Travelers + Medica.
- Iowa ($88,000-$130,000) — Des Moines Principal + Nationwide HQ.
- Wisconsin ($88,000-$130,000) — Milwaukee NW Mutual HQ + Madison American Family.
- Texas ($85,000-$130,000) — Houston + Dallas + no state income tax + USAA San Antonio.
- Ohio ($82,000-$122,000) — Columbus Nationwide + Cincinnati P&C.
Specialty Premium Markets
- Reinsurance actuary (Munich Re, Swiss Re, Hannover Re, RGA, SCOR) — premier $130,000-$220,000+.
- Consulting actuary (Mercer, WTW, Aon, Milliman, Oliver Wyman, Deloitte) — premium with exits.
- P&C actuary (Liberty, Travelers, Progressive, Hartford) — premium with climate / cyber.
- Health actuary (UnitedHealth, Anthem, CVS Aetna, Humana) — premium Medicare Advantage.
- Life actuary (NW Mutual, NY Life, MetLife, MassMutual) — premium.
- Pension consulting (Mercer, WTW, Aon) — premium.
- Investment / quant-actuarial (BlackRock, Pimco) — premium emerging.
- FSA / FCAS Fellow (premier credential) — premium leveling.
2026 State Ranking Methodology
Rankings reflect 2026 projected median from BLS OEWS 2025. SOA FSA / CAS FCAS Fellowship credential + reinsurance / consulting specialty materially shift ceiling.
2019 BLS
$108,350
2025 BLS
$130,000
2026 Current Est.
$134,160
2019–2027 Growth
+27.8%
National Average for Context
2019–2025: BLS OEWS actual data. 2026+: CAGR 3.20% projection.
| Year | Median Annual Salary | Status |
|---|---|---|
| 2019 | $108,350 | Actual |
| 2020 | $111,030 | Actual |
| 2021 | $105,900 | Actual |
| 2022 | $113,990 | Actual |
| 2023 | $120,000 | Actual |
| 2024 | $125,770 | Actual |
| 2025 | $130,000 | Actual |
| 2026(current) | $134,160 | Estimated |
| 2027 | $138,453 | Projected |
Understanding the national salary trend helps contextualize state-level differences. The national median provides a baseline for comparing how each state's actuary pay stacks up.
Note: BLS actual data is sourced from the Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS) survey. Estimated and projected values are calculated using a 3.20% historical CAGR. Actual compensation may vary based on employer, experience, certifications, and local market conditions.
Top 10 Highest Paying States for Actuaries
What Drives State-Level Actuary Pay Differences
Five primary factors explain actuary state-level pay variance.
1. Insurance Industry Concentration (30-40%)
- Hartford insurance city (Travelers, The Hartford, Aetna) — premier.
- NYC reinsurance + consulting hub — premier.
- Boston Liberty Mutual HQ — premium P&C.
- Twin Cities (Securian, Allianz Life, Medica) — premium.
- Des Moines (Principal, Nationwide HQ) — premium.
- Milwaukee NW Mutual HQ — premium life.
- San Antonio USAA — premium niche.
- Columbus Nationwide — premium.
2. Specialty Mix (20-30%)
- Reinsurance (premier) — Munich Re, Swiss Re, RGA.
- Consulting (Mercer, WTW, Aon, Milliman, Oliver Wyman) — premium.
- P&C (climate + cyber emerging) — premium emerging.
- Health (Medicare Advantage) — premium growth.
- Life (mature market) — base.
- Pension consulting (PRT activity) — premium.
- Investment / quant-actuarial — premium emerging.
3. Cost of Living (15-25%)
- HCOL markets command premium.
- RPP from BEA — CA 113, MS 86.
- COL-adjusted real income — Iowa / Wisconsin Midwest actuary net often beat HCOL.
4. State Income Tax (5-10% take-home)
- No state income tax — AK, WA, TX, FL, TN, NV, SD, WY, NH.
- High state income tax — CA, NY, OR, NJ, MN, HI.
- NYC + Philadelphia local — additional.
- Property + sales tax — TX tradeoff.
5. SOA + CAS Fellowship Progression (10-15%)
- ASA / ACAS (Associate) — premium mid-career.
- FSA / FCAS (Fellow) — premier credential.
- EA (Enrolled Actuary) — ERISA — premium pension.
- CERA (Chartered Enterprise Risk Analyst) — premium ERM.
- Exam-passing raises ($3,000-$5,000 per exam) — structured premium.
Where Do Actuaries Get Paid the Most?
Complete ranking of all 52 states by average actuary salary. Click any state to see city-level breakdowns and detailed data.
| Rank | State | Avg Salary |
|---|---|---|
| 1 | Connecticut | $171,660 |
| 2 | New York | $161,157 |
| 3 | Nevada | $155,525 |
| 4 | New Jersey | $151,326 |
| 5 | District of Columbia | $149,310 |
| 6 | Massachusetts | $141,076 |
| 7 | Washington | $140,902 |
| 8 | Arizona | $138,067 |
| 9 | Maryland | $136,438 |
| 10 | Maine | $135,571 |
| 11 | Oregon | $134,652 |
| 12 | California | $134,359 |
| 13 | Utah | $131,423 |
| 14 | North Carolina | $131,271 |
| 15 | Colorado | $130,327 |
| 16 | Minnesota | $129,820 |
| 17 | Wisconsin | $129,224 |
| 18 | Virginia | $129,054 |
| 19 | Florida | $128,429 |
| 20 | Missouri | $128,000 |
| 21 | Iowa | $127,583 |
| 22 | Pennsylvania | $127,268 |
| 23 | Delaware | $126,221 |
| 24 | South Carolina | $125,730 |
| 25 | Tennessee | $124,292 |
| 26 | Alabama | $124,212 |
| 27 | Texas | $122,844 |
| 28 | Georgia | $121,215 |
| 29 | Rhode Island | $121,123 |
| 30 | Illinois | $120,391 |
| 31 | Hawaii | $120,236 |
| 32 | Oklahoma | $118,153 |
| 33 | New Hampshire | $116,821 |
| 34 | Alaska | $116,307 |
| 35 | Nebraska | $116,117 |
| 36 | Kansas | $114,573 |
| 37 | Ohio | $114,124 |
| 38 | Indiana | $112,623 |
| 39 | Kentucky | $111,949 |
| 40 | New Mexico | $111,461 |
| 41 | Michigan | $111,135 |
| 42 | Mississippi | $110,799 |
| 43 | North Dakota | $110,074 |
| 44 | Louisiana | $109,791 |
| 45 | Vermont | $109,496 |
| 46 | Idaho | $105,191 |
| 47 | Montana | $104,581 |
| 48 | Wyoming | $104,212 |
| 49 | South Dakota | $103,468 |
| 50 | Arkansas | $100,879 |
| 51 | West Virginia | $91,545 |
| 52 | Puerto Rico | $70,279 |
Lowest Paying States for Actuaries
Even the lowest-paying states offer actuary salaries well above the national average for all occupations. Here are the 5 lowest-paying states:
Top Earner Potential by State
The 90th percentile represents what experienced, highly-skilled actuaries earn in each state. These are the 10 states with the highest earning ceilings:
| # | State | Top Earner (P90) |
|---|---|---|
| 1 | New York | $273,757 |
| 2 | Tennessee | $241,762 |
| 3 | Connecticut | $232,916 |
| 4 | New Jersey | $231,163 |
| 5 | Nevada | $228,449 |
| 6 | Washington | $218,679 |
| 7 | Massachusetts | $218,498 |
| 8 | Minnesota | $216,990 |
| 9 | District of Columbia | $214,119 |
| 10 | Arizona | $211,626 |
How to Move to a Higher-Paying State for Actuary Work
Relocating for actuary pay requires balancing nominal salary against insurance industry concentration, specialty, Fellowship progression, COL, and state tax.
1. Progress SOA / CAS Fellowship
- Exam P + FM (foundational) — entry.
- SOA path: IFM / FAM / SRM / FAM-L / FAM-S → FSA — life / health / pension.
- CAS path: MAS-I / MAS-II / Exam 5 / 6 / 7 / 8 / 9 → FCAS — P&C.
- VEE (Statistics, Economics, Accounting/Finance) — coursework credit.
- ASA / ACAS (Associate) — typically year 4-6.
- FSA / FCAS (Fellow) — typically year 6-8.
- EA (Enrolled Actuary, pension) — separate path.
- CERA / CFA add-on — premium niche.
2. Calculate Real Take-Home, Not Nominal
- COL-adjusted income — Iowa actuary at $110,000 may exceed NYC actuary at $145,000 net.
- State + local income tax — effective rate.
- Property + sales tax — TX tradeoff.
- Childcare cost spread — major.
- Health + benefits — premier across all insurance industry employers.
- 401(k) match + pension (some legacy) — long-term.
- Exam-passing raises + bonus — major during ASA / FSA build.
- Consulting overtime / utilization bonus — premium at Big 4 / WTW / Mercer.
3. Target Reinsurance / Consulting / Specialty
- Reinsurance (Munich Re, Swiss Re, Hannover Re, RGA, SCOR) — premier.
- Consulting (Mercer, WTW, Aon, Milliman, Oliver Wyman, Deloitte) — premium with exits.
- P&C (Liberty, Travelers, Progressive) — premium.
- Health (UnitedHealth, Anthem, CVS Aetna) — premium Medicare Advantage.
- Life (NW Mutual, NY Life, MetLife) — premium.
- Investment / quant-actuarial (BlackRock, Pimco) — premium emerging.
- FAANG / Big Tech non-traditional risk team — emerging.
- Federal (SSA, OPM, CMS, GAO) — pension + PSLF.
4. Negotiate Sign-On + Exam Raises
- Sign-on bonus ($10,000-$30,000) — common at top employers.
- Relocation assistance ($5,000-$20,000) — standard.
- Exam-passing raises ($3,000-$5,000 per exam) — structured.
- Study time + exam fee reimbursement — premium.
- FSA / FCAS bonus on Fellowship — major credential.
- Performance bonus (10-20% target) — verify.
- Consulting overtime / utilization bonus — premium.
- PSLF stack (federal + nonprofit) — 10-year forgiveness.
5. Choose Setting Based on Career Plan
- Reinsurance (premier technical depth) — top specialty.
- Consulting (Mercer, WTW, Aon) — premium with exits.
- P&C carrier rotation — strong base.
- Health (Medicare Advantage) — premium growth.
- Life (NW Mutual, NY Life) — premium.
- Investment / quant-actuarial — premium emerging.
- Chief Actuary / Principal / Partner — premier executive.
- FAANG / Big Tech non-traditional — emerging.
- Federal (SSA, OPM, CMS, GAO) — pension + PSLF.
- Independent consulting (post 5+ years) — premium hourly.
More Salary Resources
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
State salary rankings on this page are 2026 projections based on the Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS) survey, May 2026 release. A 3.20% compound annual growth rate (CAGR), derived from 6-year national BLS wage trends, was applied to each state's average salary. Cost-of-living adjustments use BEA Regional Price Parity data. Individual pay varies by city, employer, certifications, and experience.
Data Sources & Methodology
Source: BLS, OEWS , released .
Compiled and verified by Maria Chen, FSA, MAAA, a licensed actuary with 10+ years of clinical experience. · View source data at BLS.gov