Actuary Hourly Pay in Cottage Grove, MN: $62.70 (2026)
Quick Answer:Hourly pay for a actuary working in Cottage Grove, MN runs $62.70 at the median for 2026 — annualizing to $130,424 at a standard 2,080-hour year. Figures projected from BLS OEWS 2025 (SOC 15-2011). Weighted against Cottage Grove's regional price level (BEA RPP 98.5, 1% below national), each hour of work buys what $63.66 nationally would. A 24-hour part-time schedule grosses $78,255 per year.
Based on BLS state-level estimates · View source
In Cottage Grove, the actuary hourly pay is projected to reach a median of $62.70 in 2026, slightly lower than the national hourly median of $64.50. This level of compensation offers attractive opportunities for both part-time professionals and per-diem workers who typically operate within corporate settings such as insurance pricing departments or consulting environments. With hourly rates spanning from $38.52 at the entry-level to $97.19 for those at the top of their profession, actuaries in this Minnesota city can experience a flexible work schedule, especially if they choose a part-time commitment, which often allows for a three-day workweek. These projections are derived from annual salary data, hinting at the financial viability of working in fields like risk assessment and retirement consulting in Cottage Grove.
About the Cottage Grove Market
Salary estimated from Minnesota average ($128,000) adjusted for local cost of living.
Actuary Hourly Wage Breakdown
| Percentile | Hourly Rate | Per 8hr Shift |
|---|---|---|
| Entry Level (P10) | $38.52 | $308.20 |
| Lower Range (P25) | $46.96 | $375.65 |
| Median (P50) | $62.70 | $501.63 |
| Upper Range (P75) | $79.92 | $639.34 |
| Top Earners (P90) | $97.19 | $777.55 |
Estimated Annual Income by Work Schedule in Cottage Grove
Based on $62.70/hr median hourly rate · 2026 est.
At $62.70/hr, a actuary working full-time (40 hr/wk) in Cottage Grove, MN can expect to earn approximately $130,425 per year (2026 est.). Part-time hygienists working 24 hours per week would earn around $75,245. With a cost-of-living index of 98.50 (below the national average), these earnings stretch further in Cottage Grove.
Hourly Rate Calculator
Schedule Comparison in Cottage Grove
| Schedule | Weekly | Monthly | Annual |
|---|---|---|---|
| Full-Time (40 hrs) | $2,508.17 | $10,869 | $130,425 |
| Part-Time (24 hrs) | $1,504.90 | $6,521 | $78,255 |
| Per Diem (16 hrs) | $1,003.27 | $4,347 | $52,170 |
Compare ASA, FSA Wages With Similar Roles
| Role | Median Hourly |
|---|---|
| Actuary (Cottage Grove) | $62.70 |
| Statistician (National Avg) | $51.53 |
| Mathematician (National Avg) | $56.16 |
| Financial Analyst (National Avg) | $47.61 |
| Data Scientist (National Avg) | $54.40 |
Actuarys in Cottage Grove, MN earn a median of $130,424 per year (2026 est.), which is 2.78% lower than the national median of $134,160 and 1.30% below the Minnesota state average of $132,142.
Actuary Hourly Pay vs. Cost of Living
Working 24h/week at $62.70/hr = $78,255/year (purchasing power: $79,447).
Working 40h/week (full-time) = $130,425/year (purchasing power: $132,411).
CoL index: 98.5 (100 = national average). Your dollars stretch further here.
2019 BLS Actual
$50.64/hr
2025 BLS Actual
$60.76/hr
2026 Current Est.
$62.70/hr
2019–2027 Growth
+27.8%
Hourly Rate Trajectory for Actuaries in Cottage Grove (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.20% projection.
| Year | Hourly Rate | Status |
|---|---|---|
| 2019 | $50.64/hr | Actual |
| 2020 | $51.89/hr | Actual |
| 2021 | $49.50/hr | Actual |
| 2022 | $53.28/hr | Actual |
| 2023 | $56.09/hr | Actual |
| 2024 | $59.82/hr | Actual |
| 2025 | $60.76/hr | Actual |
| 2026(current) | $62.70/hr | Estimated |
| 2027 | $64.71/hr | Projected |
Based on 7 years of BLS OEWS metropolitan area data, the median hourly rate for actuaries in Cottage Grove grew 20.0% from $50.64/hr (2019) to $60.76/hr (2025). At a 3.20% projected growth rate, hourly pay is expected to reach $64.71/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 Cottage Grove 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 Cottage Grove
Analyzing the part-time earnings potential reveals that an actuary working 24 hours a week can still generate significant income, although it won't match the full-time equivalent. Typically, hourly actuaries, especially at junior levels, engage in employment structures less often, with per-diem or consultancy roles becoming more common as one advances to an FSA or FCAS designation. For instance, seasoned professionals involved in consulting may bill anywhere from $250 to $500 per hour, while those providing expert testimony can command upwards of $400 to $800 per hour. In Cottage Grove, hourly rates can also fluctuate based on employer type — actuaries at life insurance companies may have different compensation structures compared to those at health insurance firms or reinsurance companies. Many actuaries weigh the benefits of job security and health insurance against higher hourly wages found in consulting roles. For anyone negotiating hourly pay in this market, it’s advisable to emphasize specialized skills, exam successes, and alignment with industry trends, as these factors significantly influence earning potential within the field.
More salary data for Cottage Grove, MN:
Frequently Asked Questions
What is the hourly rate for actuaries in Cottage Grove in 2026?
How much do part-time actuaries make in Cottage Grove?
Are actuaries in Cottage Grove paid hourly or salary?
How much does a full-time actuary make per year in Cottage Grove?
Do actuaries earn more per hour working part-time in Cottage Grove?
Related Pages
Compare Salaries
Career Resources
Nearby Cities in Minnesota
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 Cottage Grove. 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 Cottage Grove 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