Actuary Hourly Pay in Chicago, IL: $56.43 (2026)
Quick Answer:Hourly pay for a actuary working in Chicago, IL runs $56.43 at the median for 2026 — annualizing to $117,369 at a standard 2,080-hour year. Figures projected from BLS OEWS 2025 (SOC 15-2011). Weighted against Chicago's regional price level (BEA RPP 103.6, 4% above national), each hour of work buys what $54.47 nationally would. A 24-hour part-time schedule grosses $70,424 per year.
Official BLS data · View source
Actuaries in Chicago, Illinois, can expect a median hourly pay of $56.43 in 2026, which places them below the national median of $64.50. This disparity highlights the competitive landscape for these professionals and suggests that actuarial roles in the Windy City may not yield the same hourly rewards as those found in other parts of the country. For those considering part-time work, such as three days per week, the $56.43 hourly rate translates to about $44,000 annually, presenting a viable option for individuals balancing other commitments. The hourly pay range for actuaries spans from $39.52 at entry-level positions to an impressive $103.83 for top earners in specialized fields. The data presented here is drawn from projections based on 2025 BLS OEWS data, indicating a healthy employment market for actuaries across various sectors including insurance firms, consulting agencies, and pension management firms in Chicago.
Actuary Hourly Wage Breakdown
| Percentile | Hourly Rate | Per 8hr Shift |
|---|---|---|
| Entry Level (P10) | $39.52 | $316.12 |
| Lower Range (P25) | $47.62 | $380.93 |
| Median (P50) | $56.43 | $451.44 |
| Upper Range (P75) | $81.22 | $649.75 |
| Top Earners (P90) | $103.83 | $830.64 |
Estimated Annual Income by Work Schedule in Chicago
Based on $56.43/hr median hourly rate · 2026 est.
At $56.43/hr, a actuary working full-time (40 hr/wk) in Chicago, IL can expect to earn approximately $117,374 per year (2026 est.). Part-time hygienists working 24 hours per week would earn around $67,716. With a cost-of-living index of 103.59 (above the national average), these earnings may be offset by higher expenses in Chicago.
Hourly Rate Calculator
Schedule Comparison in Chicago
| Schedule | Weekly | Monthly | Annual |
|---|---|---|---|
| Full-Time (40 hrs) | $2,257.19 | $9,781 | $117,374 |
| Part-Time (24 hrs) | $1,354.31 | $5,869 | $70,424 |
| Per Diem (16 hrs) | $902.88 | $3,912 | $46,950 |
Compare ASA, FSA Wages With Similar Roles
| Role | Median Hourly |
|---|---|
| Actuary (Chicago) | $56.43 |
| Statistician (National Avg) | $51.53 |
| Mathematician (National Avg) | $56.16 |
| Financial Analyst (National Avg) | $47.61 |
| Data Scientist (National Avg) | $54.40 |
Actuarys in Chicago, IL earn a median of $117,369 per year (2026 est.), which is 12.52% lower than the national median of $134,160 and 9.90% below the Illinois state average of $130,266.
Actuary Hourly Pay vs. Cost of Living
Working 24h/week at $56.43/hr = $70,424/year (purchasing power: $67,980).
Working 40h/week (full-time) = $117,374/year (purchasing power: $113,301).
CoL index: 103.595 (100 = national average).
2019 BLS Actual
$49.38/hr
2025 BLS Actual
$54.68/hr
2026 Current Est.
$56.43/hr
2019–2027 Growth
+17.9%
Hourly Rate Trajectory for Actuaries in Chicago (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.20% projection.
| Year | Hourly Rate | Status |
|---|---|---|
| 2019 | $49.38/hr | Actual |
| 2020 | $50.90/hr | Actual |
| 2021 | $49.22/hr | Actual |
| 2022 | $51.78/hr | Actual |
| 2023 | $58.48/hr | Actual |
| 2024 | $60.60/hr | Actual |
| 2025 | $54.68/hr | Actual |
| 2026(current) | $56.43/hr | Estimated |
| 2027 | $58.24/hr | Projected |
Based on 7 years of BLS OEWS metropolitan area data, the median hourly rate for actuaries in Chicago grew 10.7% from $49.38/hr (2019) to $54.68/hr (2025). At a 3.20% projected growth rate, hourly pay is expected to reach $58.24/hr by 2027. Part-time and per-diem actuaries can use this multi-year trend to benchmark future contract negotiations.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Chicago 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.
Working as an Hourly Actuary in Chicago
Examining the part-time earning potential reveals that working 24 hours a week enables actuaries to maintain a sustainable work-life balance while generating a modest income. In a consulting capacity, seasoned professionals with FSA or FCAS credentials can engage in per-diem work, earning between $250 and $500 per hour for high-level consulting roles or even $400 to $800 per hour as expert witnesses in litigation contexts. This distinct pay structure reflects the variances across employer types; for instance, life insurance companies tend to offer a different pay scale compared to consulting firms like Mercer or Aon. While pursuing higher pay can attract talent towards the latter, actuaries may accept lower hourly rates at insurers in exchange for benefits such as health insurance, a critical factor in this decision-making process. For those entering the field, negotiating hourly rates can be pivotal—researching company standards and emphasizing unique skill sets, especially in predictive analytics, can lead to better compensation and professional growth.
More salary data for Chicago, IL:
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
Hourly wage figures 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 estimate current 2026 hourly rates for actuaries in Chicago. Part-time and full-time income estimates assume consistent weekly hours and do not account for overtime, benefits, or seasonal variation.
Data Sources & Methodology
Source: BLS, OEWS, 7-year dataset (–). Per-city data from annual BLS metropolitan area surveys.
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