Actuary Hourly Pay in Traverse City, MI: $56.89 (2026)
Quick Answer:Hourly pay for a actuary working in Traverse City, MI runs $56.89 at the median for 2026 — annualizing to $118,329 at a standard 2,080-hour year. Figures projected from BLS OEWS 2025 (SOC 15-2011). Weighted against Traverse City's regional price level (BEA RPP 93.2, 7% below national), each hour of work buys what $61.05 nationally would. A 24-hour part-time schedule grosses $71,004 per year.
Based on BLS state-level estimates · View source
In Traverse City, Michigan, the actuary hourly pay is projected to reach $56.89 in 2026, slightly below the national median of $64.50. This figure illustrates an appealing opportunity for those considering part-time positions or per-diem roles within the profession. With the typical settings including insurance company actuarial pricing departments and consulting firm engagements, actuaries can effectively manage a flexible work schedule, possibly committing to three days a week. For entry-level actuaries or those in junior roles, the hourly rate might start around $35.04, while experienced actuaries can earn up to $87.10, reflecting the potential for growth in this niche market. The hourly estimates presented derive from annual salary data, indicating a solid starting point for understanding compensation dynamics in the Traverse City area.
About the Traverse City Market
Salary estimated from Michigan average ($120,000) adjusted for local cost of living.
Actuary Hourly Wage Breakdown
| Percentile | Hourly Rate | Per 8hr Shift |
|---|---|---|
| Entry Level (P10) | $35.04 | $280.29 |
| Lower Range (P25) | $42.53 | $340.23 |
| Median (P50) | $56.89 | $455.15 |
| Upper Range (P75) | $71.96 | $575.69 |
| Top Earners (P90) | $87.10 | $696.81 |
Estimated Annual Income by Work Schedule in Traverse City
Based on $56.89/hr median hourly rate · 2026 est.
At $56.89/hr, a actuary working full-time (40 hr/wk) in Traverse City, MI can expect to earn approximately $118,340 per year (2026 est.). Part-time hygienists working 24 hours per week would earn around $68,273. With a cost-of-living index of 93.20 (below the national average), these earnings stretch further in Traverse City.
Hourly Rate Calculator
Schedule Comparison in Traverse City
| Schedule | Weekly | Monthly | Annual |
|---|---|---|---|
| Full-Time (40 hrs) | $2,275.77 | $9,862 | $118,340 |
| Part-Time (24 hrs) | $1,365.46 | $5,917 | $71,004 |
| Per Diem (16 hrs) | $910.31 | $3,945 | $47,336 |
Compare ASA, FSA Wages With Similar Roles
| Role | Median Hourly |
|---|---|
| Actuary (Traverse City) | $56.89 |
| Statistician (National Avg) | $51.53 |
| Mathematician (National Avg) | $56.16 |
| Financial Analyst (National Avg) | $47.61 |
| Data Scientist (National Avg) | $54.40 |
Actuarys in Traverse City, MI earn a median of $118,329 per year (2026 est.), which is 11.80% lower than the national median of $134,160 and 5.40% below the Michigan state average of $125,084.
Actuary Hourly Pay vs. Cost of Living
Working 24h/week at $56.89/hr = $71,004/year (purchasing power: $76,184).
Working 40h/week (full-time) = $118,340/year (purchasing power: $126,974).
CoL index: 93.2 (100 = national average). Your dollars stretch further here.
2019 BLS Actual
$45.95/hr
2025 BLS Actual
$55.13/hr
2026 Current Est.
$56.89/hr
2019–2027 Growth
+27.8%
Hourly Rate Trajectory for Actuaries in Traverse City (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.20% projection.
| Year | Hourly Rate | Status |
|---|---|---|
| 2019 | $45.95/hr | Actual |
| 2020 | $47.09/hr | Actual |
| 2021 | $44.91/hr | Actual |
| 2022 | $48.34/hr | Actual |
| 2023 | $50.89/hr | Actual |
| 2024 | $50.88/hr | Actual |
| 2025 | $55.13/hr | Actual |
| 2026(current) | $56.89/hr | Estimated |
| 2027 | $58.71/hr | Projected |
Based on 7 years of BLS OEWS metropolitan area data, the median hourly rate for actuaries in Traverse City grew 20.0% from $45.95/hr (2019) to $55.13/hr (2025). At a 3.20% projected growth rate, hourly pay is expected to reach $58.71/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 Traverse City 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 Traverse City
Exploring part-time earnings in Traverse City reveals that an actuary working 24 hours a week could earn approximately $44,846 annually, which is significantly lower than a full-time counterpart. Per diem and agency work for actuaries at lower levels is not as common; however, seasoned professionals, particularly those with FSA or FCAS credentials, often command rates between $250 and $500 per hour for consulting gigs. Expert witness testimony in insurance or pension litigation can yield even higher compensation at $400 to $800 per hour. Hourly rates can vary greatly among employer types, with life insurance firms offering competitive packages, while health insurance and managed care organizations tend to provide hourly benefits that might be offset by lower pay compared to consulting firms. Actuaries in Traverse City should weigh the benefits associated with lower hourly pay against potential gains in health coverage and retirement plans, keeping in mind that negotiation can lead to better hourly arrangements, especially for those with advanced certifications.
More salary data for Traverse City, MI:
Frequently Asked Questions
What is the hourly rate for actuaries in Traverse City in 2026?
How much do part-time actuaries make in Traverse City?
Are actuaries in Traverse City paid hourly or salary?
How much does a full-time actuary make per year in Traverse City?
Do actuaries earn more per hour working part-time in Traverse City?
Related Pages
Compare Salaries
Career Resources
Nearby Cities in Michigan
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 Traverse City. 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 Traverse City 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