Actuary Hourly Pay in Waterford, MI: $58.66 (2026)
Quick Answer:Hourly pay for a actuary working in Waterford, MI runs $58.66 at the median for 2026 — annualizing to $122,020 at a standard 2,080-hour year. Figures projected from BLS OEWS 2025 (SOC 15-2011). Weighted against Waterford's regional price level (BEA RPP 93.2, 7% below national), each hour of work buys what $62.94 nationally would. A 24-hour part-time schedule grosses $73,206 per year.
Based on BLS state-level estimates · View source
In Waterford, Michigan, the actuary hourly pay stands at a median of $58.66, reflecting a competitive compensation rate that falls shy of the national median of $64.50 per hour. This rate positions the potential for part-time actuaries—who might work three days a week—at approximately $37,500 annually before taxes, assuming a 24-hour workweek. Such actuaries can find themselves in various settings, including insurance company actuarial pricing departments and consulting firms. The hourly compensation range sees entry-level positions starting around $36.68, while top earners can see rates reaching up to $90.93. These figures are important for professionals considering a commission-based approach or per diem arrangements, which, while less common for junior actuaries, can be lucrative for those with advanced credentials.
About the Waterford 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) | $36.68 | $293.42 |
| Lower Range (P25) | $44.55 | $356.41 |
| Median (P50) | $58.66 | $469.27 |
| Upper Range (P75) | $75.09 | $600.71 |
| Top Earners (P90) | $90.93 | $727.44 |
Estimated Annual Income by Work Schedule in Waterford
Based on $58.66/hr median hourly rate · 2026 est.
At $58.66/hr, a actuary working full-time (40 hr/wk) in Waterford, MI can expect to earn approximately $122,010 per year (2026 est.). Part-time hygienists working 24 hours per week would earn around $70,391. With a cost-of-living index of 93.20 (below the national average), these earnings stretch further in Waterford.
Hourly Rate Calculator
Schedule Comparison in Waterford
| Schedule | Weekly | Monthly | Annual |
|---|---|---|---|
| Full-Time (40 hrs) | $2,346.36 | $10,168 | $122,010 |
| Part-Time (24 hrs) | $1,407.81 | $6,101 | $73,206 |
| Per Diem (16 hrs) | $938.54 | $4,067 | $48,804 |
Compare ASA, FSA Wages With Similar Roles
| Role | Median Hourly |
|---|---|
| Actuary (Waterford) | $58.66 |
| Statistician (National Avg) | $51.53 |
| Mathematician (National Avg) | $56.16 |
| Financial Analyst (National Avg) | $47.61 |
| Data Scientist (National Avg) | $54.40 |
Actuarys in Waterford, MI earn a median of $122,020 per year (2026 est.), which is 9.05% lower than the national median of $134,160 and 2.40% below the Michigan state average of $125,020.
Actuary Hourly Pay vs. Cost of Living
Working 24h/week at $58.66/hr = $73,206/year (purchasing power: $78,548).
Working 40h/week (full-time) = $122,010/year (purchasing power: $130,913).
CoL index: 93.2 (100 = national average). Your dollars stretch further here.
2019 BLS Actual
$47.37/hr
2025 BLS Actual
$56.84/hr
2026 Current Est.
$58.66/hr
2019–2027 Growth
+27.8%
Hourly Rate Trajectory for Actuaries in Waterford (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.20% projection.
| Year | Hourly Rate | Status |
|---|---|---|
| 2019 | $47.37/hr | Actual |
| 2020 | $48.55/hr | Actual |
| 2021 | $46.30/hr | Actual |
| 2022 | $49.84/hr | Actual |
| 2023 | $52.47/hr | Actual |
| 2024 | $52.47/hr | Actual |
| 2025 | $56.84/hr | Actual |
| 2026(current) | $58.66/hr | Estimated |
| 2027 | $60.54/hr | Projected |
Based on 7 years of BLS OEWS metropolitan area data, the median hourly rate for actuaries in Waterford grew 20.0% from $47.37/hr (2019) to $56.84/hr (2025). At a 3.20% projected growth rate, hourly pay is expected to reach $60.54/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 Waterford 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 Waterford
For those weighing their options, part-time earning potential is a vital consideration, particularly when juxtaposed with full-time commitments. A part-time actuary working just three days a week could yield an annual income that lags behind full-time counterparts, where many FSAs or FCAS command higher rates in consulting firms such as Milliman or Mercer. Per diem actuary pay in Waterford can vary significantly; while junior-level roles may see limited opportunities, seasoned professionals can command fees of $250 to $500 per hour for consulting engagements. Major players in life insurance and health insurance markets, such as Prudential and UnitedHealth, may offer lower hourly rates compared to consulting avenues, yet provide critical health benefits that attract talent. For actuaries in Waterford, negotiating for the best hourly rate requires an understanding of the different employer landscapes—insurers, reinsurance firms, and consulting companies all have unique compensation structures. Specialization and professional credentials like those from the Society of Actuaries or Casualty Actuarial Society can drive up hourly pay, making exam progressions vital in enhancing earning potential.
More salary data for Waterford, MI:
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 Waterford. 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 Waterford 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