Actuary Hourly Pay in Westfield, NJ: $72.30 (2026)
Quick Answer:Hourly pay for a actuary working in Westfield, NJ runs $72.30 at the median for 2026 — annualizing to $150,378 at a standard 2,080-hour year. Figures projected from BLS OEWS 2025 (SOC 15-2011). Weighted against Westfield's regional price level (BEA RPP 115.2, 15% above national), each hour of work buys what $62.76 nationally would. A 24-hour part-time schedule grosses $90,233 per year.
Based on BLS state-level estimates · View source
In Westfield, New Jersey, actuaries can expect to earn a median hourly rate of $72.30, which is notably higher than the national median of $64.50. This competitive pay scale is reflective of the local cost of living, which is above the national average. For actuaries choosing part-time work, such as 24 hours per week, this rate translates to a lucrative income, especially in settings like insurance firms and consulting agencies. Entry-level positions start around $42.39 per hour, while top earners in the field can command rates as high as $112.06. This broad range highlights the potential for growth and advancement within the profession, offering attractive hourly compensation for both part-time and full-time work.
About the Westfield Market
Salary estimated from New Jersey average ($142,000) adjusted for local cost of living.
Actuary Hourly Wage Breakdown
| Percentile | Hourly Rate | Per 8hr Shift |
|---|---|---|
| Entry Level (P10) | $42.39 | $339.16 |
| Lower Range (P25) | $57.29 | $458.29 |
| Median (P50) | $72.30 | $578.42 |
| Upper Range (P75) | $92.48 | $739.82 |
| Top Earners (P90) | $112.06 | $896.52 |
Estimated Annual Income by Work Schedule in Westfield
Based on $72.30/hr median hourly rate · 2026 est.
At $72.30/hr, a actuary working full-time (40 hr/wk) in Westfield, NJ can expect to earn approximately $150,388 per year (2026 est.). Part-time hygienists working 24 hours per week would earn around $86,762. With a cost-of-living index of 115.20 (above the national average), these earnings may be offset by higher expenses in Westfield.
Hourly Rate Calculator
Schedule Comparison in Westfield
| Schedule | Weekly | Monthly | Annual |
|---|---|---|---|
| Full-Time (40 hrs) | $2,892.08 | $12,532 | $150,388 |
| Part-Time (24 hrs) | $1,735.25 | $7,519 | $90,233 |
| Per Diem (16 hrs) | $1,156.83 | $5,013 | $60,155 |
Compare ASA, FSA Wages With Similar Roles
| Role | Median Hourly |
|---|---|
| Actuary (Westfield) | $72.30 |
| Statistician (National Avg) | $51.53 |
| Mathematician (National Avg) | $56.16 |
| Financial Analyst (National Avg) | $47.61 |
| Data Scientist (National Avg) | $54.40 |
Actuarys in Westfield, NJ earn a median of $150,378 per year (2026 est.), which is 12.09% higher than the national median of $134,160 and 2.70% below the New Jersey state average of $154,551.
Actuary Hourly Pay vs. Cost of Living
Working 24h/week at $72.30/hr = $90,233/year (purchasing power: $78,327).
Working 40h/week (full-time) = $150,388/year (purchasing power: $130,545).
CoL index: 115.2 (100 = national average).
2019 BLS Actual
$58.39/hr
2025 BLS Actual
$70.06/hr
2026 Current Est.
$72.30/hr
2019–2027 Growth
+27.8%
Hourly Rate Trajectory for Actuaries in Westfield (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.20% projection.
| Year | Hourly Rate | Status |
|---|---|---|
| 2019 | $58.39/hr | Actual |
| 2020 | $59.84/hr | Actual |
| 2021 | $57.07/hr | Actual |
| 2022 | $61.43/hr | Actual |
| 2023 | $64.67/hr | Actual |
| 2024 | $76.52/hr | Actual |
| 2025 | $70.06/hr | Actual |
| 2026(current) | $72.30/hr | Estimated |
| 2027 | $74.62/hr | Projected |
Based on 7 years of BLS OEWS metropolitan area data, the median hourly rate for actuaries in Westfield grew 20.0% from $58.39/hr (2019) to $70.06/hr (2025). At a 3.20% projected growth rate, hourly pay is expected to reach $74.62/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 Westfield 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 Westfield
Considering that more seasoned actuaries in Westfield may engage in per diem or consulting arrangements, those at higher levels often see much larger paydays. While it's common for entry-level roles to focus on hourly work, once actuaries achieve FSA or FCAS designations, they can expect to see their per diem rates soar. In some cases, actuaries billing for consulting work can charge between $250 to $500 per hour, while expert witness testimony can fetch up to $800 per hour. The variety of employer types—from life insurance and reinsurance companies to consulting firms—also leads to fluctuations in hourly rates. Although some actuaries may take lower hourly compensation in exchange for benefits like health insurance, those opting for freelance or per diem work often negotiate based on the specific skills in predictive analytics or data science they bring to the table. This dynamic environment allows for a range of earning potential, keeping the hourly pay landscape in Westfield both inviting and competitive.
More salary data for Westfield, NJ:
Frequently Asked Questions
What is the hourly rate for actuaries in Westfield in 2026?
How much do part-time actuaries make in Westfield?
Are actuaries in Westfield paid hourly or salary?
How much does a full-time actuary make per year in Westfield?
Do actuaries earn more per hour working part-time in Westfield?
Related Pages
Compare Salaries
Career Resources
Nearby Cities in New Jersey
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 Westfield. 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 Westfield 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