Actuary Hourly Pay in Merrillville, IN: $56.49 (2026)
Quick Answer:Hourly pay for a actuary working in Merrillville, IN runs $56.49 at the median for 2026 — annualizing to $117,497 at a standard 2,080-hour year. Figures projected from BLS OEWS 2025 (SOC 15-2011). Weighted against Merrillville's regional price level (BEA RPP 91.3, 9% below national), each hour of work buys what $61.87 nationally would. A 24-hour part-time schedule grosses $70,502 per year.
Based on BLS state-level estimates · View source
In 2026, actuaries in Merrillville, Indiana are projected to earn a median hourly rate of $56.49, which is about 12.42% below the national median of $64.50. This hourly rate presents an attractive option for those seeking part-time opportunities, such as working three days a week, which might allow actuaries to balance their work with personal commitments. The hourly range spans from $35.01 for entry-level positions (P10) to as high as $87.55 for seasoned professionals (P90), reflective of experience and expertise in areas like insurance pricing, reinsurance firms, and consulting engagements. For those working on a per-diem basis, the flexibility of actuarial work—often performed in consulting settings or through remote modeling—can lead to different compensation structures, enhancing the profession's appeal in Merrillville and the broader IN area.
About the Merrillville Market
Salary estimated from Indiana average ($115,000) adjusted for local cost of living.
Actuary Hourly Wage Breakdown
| Percentile | Hourly Rate | Per 8hr Shift |
|---|---|---|
| Entry Level (P10) | $35.01 | $280.04 |
| Lower Range (P25) | $42.53 | $340.23 |
| Median (P50) | $56.49 | $451.93 |
| Upper Range (P75) | $72.30 | $578.42 |
| Top Earners (P90) | $87.55 | $700.44 |
Estimated Annual Income by Work Schedule in Merrillville
Based on $56.49/hr median hourly rate · 2026 est.
At $56.49/hr, a actuary working full-time (40 hr/wk) in Merrillville, IN can expect to earn approximately $117,503 per year (2026 est.). Part-time hygienists working 24 hours per week would earn around $67,790. With a cost-of-living index of 91.30 (below the national average), these earnings stretch further in Merrillville.
Hourly Rate Calculator
Schedule Comparison in Merrillville
| Schedule | Weekly | Monthly | Annual |
|---|---|---|---|
| Full-Time (40 hrs) | $2,259.67 | $9,792 | $117,503 |
| Part-Time (24 hrs) | $1,355.80 | $5,875 | $70,502 |
| Per Diem (16 hrs) | $903.87 | $3,917 | $47,001 |
Compare ASA, FSA Wages With Similar Roles
| Role | Median Hourly |
|---|---|
| Actuary (Merrillville) | $56.49 |
| Statistician (National Avg) | $51.53 |
| Mathematician (National Avg) | $56.16 |
| Financial Analyst (National Avg) | $47.61 |
| Data Scientist (National Avg) | $54.40 |
Actuarys in Merrillville, IN earn a median of $117,497 per year (2026 est.), which is 12.42% lower than the national median of $134,160 and 4.10% below the Indiana state average of $122,521.
Actuary Hourly Pay vs. Cost of Living
Working 24h/week at $56.49/hr = $70,502/year (purchasing power: $77,220).
Working 40h/week (full-time) = $117,503/year (purchasing power: $128,700).
CoL index: 91.3 (100 = national average). Your dollars stretch further here.
2019 BLS Actual
$45.62/hr
2025 BLS Actual
$54.74/hr
2026 Current Est.
$56.49/hr
2019–2027 Growth
+27.8%
Hourly Rate Trajectory for Actuaries in Merrillville (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.20% projection.
| Year | Hourly Rate | Status |
|---|---|---|
| 2019 | $45.62/hr | Actual |
| 2020 | $46.75/hr | Actual |
| 2021 | $44.59/hr | Actual |
| 2022 | $48.00/hr | Actual |
| 2023 | $50.53/hr | Actual |
| 2024 | $48.42/hr | Actual |
| 2025 | $54.74/hr | Actual |
| 2026(current) | $56.49/hr | Estimated |
| 2027 | $58.30/hr | Projected |
Based on 7 years of BLS OEWS metropolitan area data, the median hourly rate for actuaries in Merrillville grew 20.0% from $45.62/hr (2019) to $54.74/hr (2025). At a 3.20% projected growth rate, hourly pay is expected to reach $58.30/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 Merrillville 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 Merrillville
Looking at the earning potential for part-time actuaries reveals intriguing contrasts. Those working part-time at around 24 hours per week could net approximately $70,830 annually, a figure that could still support a reasonable standard of living, especially considering Merrillville’s cost of living index of 91.3. However, consulting or per-diem roles, particularly for fellowship-level actuaries (FSA / FCAS), offer considerably higher billing rates, between $250 to $500 per hour, with expert witness roles commanding even more—up to $800 per hour. Employers in Merrillville, ranging from well-known life and health insurance companies to property and casualty insurers, offer varied compensation structures. While some actuaries might opt for lower hourly rates in exchange for benefits like health insurance, those preferring higher hourly wages may sacrifice these perks. For those focusing on per diem actuary pay in Merrillville, understanding market trends and negotiation strategies becomes essential, especially as firms seek to balance experience levels against their willingness to invest in the actuarial talent pipeline.
More salary data for Merrillville, IN:
Frequently Asked Questions
What is the hourly rate for actuaries in Merrillville in 2026?
How much do part-time actuaries make in Merrillville?
Are actuaries in Merrillville paid hourly or salary?
How much does a full-time actuary make per year in Merrillville?
Do actuaries earn more per hour working part-time in Merrillville?
Related Pages
Compare Salaries
Career Resources
Nearby Cities in Indiana
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 Merrillville. Part-time and full-time income estimates assume consistent weekly hours and do not account for overtime, benefits, or seasonal variation.
Data Sources & Methodology
Salary data for Merrillville 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