Actuary Hourly Pay in Richfield, MN: $61.20 (2026)
Quick Answer:Hourly pay for a actuary working in Richfield, MN runs $61.20 at the median for 2026 — annualizing to $127,286 at a standard 2,080-hour year. Figures projected from BLS OEWS 2025 (SOC 15-2011). Weighted against Richfield's regional price level (BEA RPP 98.5, 1% below national), each hour of work buys what $62.13 nationally would. A 24-hour part-time schedule grosses $76,375 per year.
Based on BLS state-level estimates · View source
In Richfield, MN, actuaries can expect to earn a median hourly pay of $61.20, which is slightly lower than the national median of $64.50. This hourly rate reflects the potential for part-time work—an actuary working three days a week (approximately 24 hours) could earn $1,468.80 a week before taxes, providing a solid income while managing other commitments. Entry-level actuaries may start around $39.92 per hour, while top earners can command up to $94.85 per hour. Notably, this hourly data is derived from projected annual salary data for 2026, indicating a promising earning potential across various settings, including insurance company actuarial pricing departments, consulting firms, and remote actuarial modeling environments.
About the Richfield 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) | $39.92 | $319.34 |
| Lower Range (P25) | $47.73 | $381.84 |
| Median (P50) | $61.20 | $489.58 |
| Upper Range (P75) | $77.54 | $620.36 |
| Top Earners (P90) | $94.85 | $758.81 |
Estimated Annual Income by Work Schedule in Richfield
Based on $61.20/hr median hourly rate · 2026 est.
At $61.20/hr, a actuary working full-time (40 hr/wk) in Richfield, MN can expect to earn approximately $127,291 per year (2026 est.). Part-time hygienists working 24 hours per week would earn around $73,437. With a cost-of-living index of 98.50 (below the national average), these earnings stretch further in Richfield.
Hourly Rate Calculator
Schedule Comparison in Richfield
| Schedule | Weekly | Monthly | Annual |
|---|---|---|---|
| Full-Time (40 hrs) | $2,447.90 | $10,608 | $127,291 |
| Part-Time (24 hrs) | $1,468.74 | $6,365 | $76,375 |
| Per Diem (16 hrs) | $979.16 | $4,243 | $50,916 |
Compare ASA, FSA Wages With Similar Roles
| Role | Median Hourly |
|---|---|
| Actuary (Richfield) | $61.20 |
| Statistician (National Avg) | $51.53 |
| Mathematician (National Avg) | $56.16 |
| Financial Analyst (National Avg) | $47.61 |
| Data Scientist (National Avg) | $54.40 |
Actuarys in Richfield, MN earn a median of $127,286 per year (2026 est.), which is 5.12% lower than the national median of $134,160 and 3.70% below the Minnesota state average of $132,176.
Actuary Hourly Pay vs. Cost of Living
Working 24h/week at $61.20/hr = $76,375/year (purchasing power: $77,538).
Working 40h/week (full-time) = $127,291/year (purchasing power: $129,229).
CoL index: 98.5 (100 = national average). Your dollars stretch further here.
2019 BLS Actual
$49.42/hr
2025 BLS Actual
$59.30/hr
2026 Current Est.
$61.20/hr
2019–2027 Growth
+27.8%
Hourly Rate Trajectory for Actuaries in Richfield (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.20% projection.
| Year | Hourly Rate | Status |
|---|---|---|
| 2019 | $49.42/hr | Actual |
| 2020 | $50.65/hr | Actual |
| 2021 | $48.31/hr | Actual |
| 2022 | $52.00/hr | Actual |
| 2023 | $54.74/hr | Actual |
| 2024 | $58.39/hr | Actual |
| 2025 | $59.30/hr | Actual |
| 2026(current) | $61.20/hr | Estimated |
| 2027 | $63.16/hr | Projected |
Based on 7 years of BLS OEWS metropolitan area data, the median hourly rate for actuaries in Richfield grew 20.0% from $49.42/hr (2019) to $59.30/hr (2025). At a 3.20% projected growth rate, hourly pay is expected to reach $63.16/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 Richfield 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 Richfield
Considering the dynamics of part-time work, an actuary limiting their hours to 24 each week could anticipate an annual salary of approximately $76,156. This contrasts sharply with full-time earnings, highlighting the benefits and trade-offs associated with part-time positions. While per diem actuaries in Richfield may find opportunities limited at the junior levels, those with Fellowship designations (FSA/FCAS) can command rates between $250-$500 per hour on consulting engagements, with expert witness testimony fetching $400-$800 per hour. Each employer type contributes uniquely to the pay scale; those in life insurance or health insurance might receive lower hourly rates than actuaries in consulting roles. Furthermore, the decision to accept a lower hourly rate often hinges on the value of health benefits offered by employers. When negotiating hourly pay, professionals should consider their qualifications, including exam progression with SOA or CAS, which significantly influences compensation, along with market demand for skills in predictive analytics and data science.
More salary data for Richfield, MN:
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 Richfield. 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 Richfield 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