Actuary Hourly Pay in Springfield, IL: $58.34 (2026)
Quick Answer:Hourly pay for a actuary working in Springfield, IL runs $58.34 at the median for 2026 — annualizing to $121,353 at a standard 2,080-hour year. Figures projected from BLS OEWS 2025 (SOC 15-2011). Weighted against Springfield's regional price level (BEA RPP 92.7, 7% below national), each hour of work buys what $62.90 nationally would. A 24-hour part-time schedule grosses $72,807 per year.
Official BLS data · View source
In Springfield, Illinois, the projected median hourly pay for actuaries in 2026 is set at $58.34, which is notably lower than the national median of $64.50. This discrepancy can affect part-time workers seeking flexible schedules—an actuary working three days a week might earn a commendable income while enjoying greater time off. Per-diem opportunities within this field are available, although they're less common at junior levels. The hourly pay for entry-level actuaries starts around $38.10, while seasoned professionals can command rates upwards of $84.54. These figures are essential for those contemplating careers in this profession, especially in specialized settings such as insurance companies, consulting firms, or remote actuarial modeling environments.
Actuary Hourly Wage Breakdown
| Percentile | Hourly Rate | Per 8hr Shift |
|---|---|---|
| Entry Level (P10) | $38.10 | $304.81 |
| Lower Range (P25) | $39.19 | $313.48 |
| Median (P50) | $58.34 | $466.71 |
| Upper Range (P75) | $70.25 | $561.99 |
| Top Earners (P90) | $84.54 | $676.33 |
Estimated Annual Income by Work Schedule in Springfield
Based on $58.34/hr median hourly rate · 2026 est.
At $58.34/hr, a actuary working full-time (40 hr/wk) in Springfield, IL can expect to earn approximately $121,345 per year (2026 est.). Part-time hygienists working 24 hours per week would earn around $70,007. With a cost-of-living index of 92.75 (below the national average), these earnings stretch further in Springfield.
Hourly Rate Calculator
Schedule Comparison in Springfield
| Schedule | Weekly | Monthly | Annual |
|---|---|---|---|
| Full-Time (40 hrs) | $2,333.56 | $10,112 | $121,345 |
| Part-Time (24 hrs) | $1,400.14 | $6,067 | $72,807 |
| Per Diem (16 hrs) | $933.42 | $4,045 | $48,538 |
Compare ASA, FSA Wages With Similar Roles
| Role | Median Hourly |
|---|---|
| Actuary (Springfield) | $58.34 |
| Statistician (National Avg) | $51.53 |
| Mathematician (National Avg) | $56.16 |
| Financial Analyst (National Avg) | $47.61 |
| Data Scientist (National Avg) | $54.40 |
Actuarys in Springfield, IL earn a median of $121,353 per year (2026 est.), which is 9.55% lower than the national median of $134,160 and 6.80% below the Illinois state average of $130,207.
Actuary Hourly Pay vs. Cost of Living
Working 24h/week at $58.34/hr = $72,807/year (purchasing power: $78,502).
Working 40h/week (full-time) = $121,345/year (purchasing power: $130,837).
CoL index: 92.745 (100 = national average). Your dollars stretch further here.
2019 BLS Actual
$47.12/hr
2025 BLS Actual
$56.53/hr
2026 Current Est.
$58.34/hr
2019–2027 Growth
+27.8%
Hourly Rate Trajectory for Actuaries in Springfield (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.20% projection.
| Year | Hourly Rate | Status |
|---|---|---|
| 2019 | $47.12/hr | Actual |
| 2020 | $48.28/hr | Actual |
| 2021 | $46.05/hr | Actual |
| 2022 | $48.71/hr | Actual |
| 2023 | $52.18/hr | Actual |
| 2024 | $60.09/hr | Actual |
| 2025 | $56.53/hr | Actual |
| 2026(current) | $58.34/hr | Estimated |
| 2027 | $60.21/hr | Projected |
Based on 7 years of BLS OEWS metropolitan area data, the median hourly rate for actuaries in Springfield grew 20.0% from $47.12/hr (2019) to $56.53/hr (2025). At a 3.20% projected growth rate, hourly pay is expected to reach $60.21/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 Springfield 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 Springfield
For actuaries considering part-time work in Springfield, a 24-hour workweek results in an annual income of approximately $45,000, which is significantly less than a full-time salary but can still provide a satisfactory lifestyle, particularly given Springfield's cost of living index of 92.745. Per diem work, while less frequent for entry-level positions, offers potentials for higher earnings, especially for experienced professionals like those holding FSA or FCAS designations in consulting engagements that bill $250-$500 per hour. Employer types also influence hourly rates; for example, life and health insurance firms typically pay lower hourly rates compared to property and casualty insurers or consulting firms, which may offer higher compensation with varying levels of job security and benefits. Actuaries may need to weigh the benefits of stable hourly work with employers who offer health insurance against potentially higher hourly wages available in less secure contracts. Understanding local market dynamics and negotiation points is vital for maximizing hourly compensation in Springfield’s actuarial job market.
More salary data for Springfield, 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 Springfield. 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, 3-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