Actuary Hourly Pay in Parma, OH: $58.97 (2026)
Quick Answer:Hourly pay for a actuary working in Parma, OH runs $58.97 at the median for 2026 — annualizing to $122,658 at a standard 2,080-hour year. Figures projected from BLS OEWS 2025 (SOC 15-2011). Weighted against Parma's regional price level (BEA RPP 90.7, 9% below national), each hour of work buys what $65.01 nationally would. A 24-hour part-time schedule grosses $73,593 per year.
Based on BLS state-level estimates · View source
In 2026, actuaries in Parma, Ohio, earn a median hourly rate of $58.97, which is notably lower than the national median of $64.50. This rate supports a flexible work schedule for part-time actuaries who work three days a week, allowing them to maintain a healthy work-life balance while securing a comfortable income. With hourly rates ranging from $35.21 for entry-level positions to $91.40 for the top earners, there's potential for both new professionals and seasoned actuaries to thrive in diverse environments such as insurance companies, consulting firms, and remote roles. These hourly figures are derived from annual salary estimates, retaining the important context of how these pay rates translate to the inquiry on hourly compensation in the actuarial field.
About the Parma Market
Salary estimated from Ohio average ($120,000) adjusted for local cost of living.
Actuary Hourly Wage Breakdown
| Percentile | Hourly Rate | Per 8hr Shift |
|---|---|---|
| Entry Level (P10) | $35.21 | $281.69 |
| Lower Range (P25) | $43.55 | $348.40 |
| Median (P50) | $58.97 | $471.75 |
| Upper Range (P75) | $75.48 | $603.84 |
| Top Earners (P90) | $91.40 | $731.23 |
Estimated Annual Income by Work Schedule in Parma
Based on $58.97/hr median hourly rate · 2026 est.
At $58.97/hr, a actuary working full-time (40 hr/wk) in Parma, OH can expect to earn approximately $122,654 per year (2026 est.). Part-time hygienists working 24 hours per week would earn around $70,762. With a cost-of-living index of 90.70 (below the national average), these earnings stretch further in Parma.
Hourly Rate Calculator
Schedule Comparison in Parma
| Schedule | Weekly | Monthly | Annual |
|---|---|---|---|
| Full-Time (40 hrs) | $2,358.74 | $10,221 | $122,654 |
| Part-Time (24 hrs) | $1,415.24 | $6,133 | $73,593 |
| Per Diem (16 hrs) | $943.50 | $4,088 | $49,062 |
Compare ASA, FSA Wages With Similar Roles
| Role | Median Hourly |
|---|---|
| Actuary (Parma) | $58.97 |
| Statistician (National Avg) | $51.53 |
| Mathematician (National Avg) | $56.16 |
| Financial Analyst (National Avg) | $47.61 |
| Data Scientist (National Avg) | $54.40 |
Actuarys in Parma, OH earn a median of $122,658 per year (2026 est.), which is 8.57% lower than the national median of $134,160 and 0.80% above the Ohio state average of $121,685.
Actuary Hourly Pay vs. Cost of Living
Working 24h/week at $58.97/hr = $73,593/year (purchasing power: $81,139).
Working 40h/week (full-time) = $122,654/year (purchasing power: $135,231).
CoL index: 90.7 (100 = national average). Your dollars stretch further here.
2019 BLS Actual
$47.62/hr
2025 BLS Actual
$57.14/hr
2026 Current Est.
$58.97/hr
2019–2027 Growth
+27.8%
Hourly Rate Trajectory for Actuaries in Parma (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.20% projection.
| Year | Hourly Rate | Status |
|---|---|---|
| 2019 | $47.62/hr | Actual |
| 2020 | $48.80/hr | Actual |
| 2021 | $46.55/hr | Actual |
| 2022 | $50.10/hr | Actual |
| 2023 | $52.74/hr | Actual |
| 2024 | $52.75/hr | Actual |
| 2025 | $57.14/hr | Actual |
| 2026(current) | $58.97/hr | Estimated |
| 2027 | $60.86/hr | Projected |
Based on 7 years of BLS OEWS metropolitan area data, the median hourly rate for actuaries in Parma grew 20.0% from $47.62/hr (2019) to $57.14/hr (2025). At a 3.20% projected growth rate, hourly pay is expected to reach $60.86/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 Parma 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 Parma
The earning potential for part-time actuaries in Parma is quite significant, especially when considering a 24-hour work week. A professional working on that schedule could potentially earn around $45,098 annually, which is a substantial difference when compared to the typical full-time actuarial salary. For those considering per-diem or 1099 work, opportunities are less common for entry-level roles but can yield high rates for experienced actuaries in consulting or expert witness scenarios, with some engagements billing between $250 and $500 per hour. Various employer types in the area contribute to salary variations; life insurance firms like Prudential and MetLife generally provide consistent pay, while consulting firms such as Mercer and Aon may offer premium rates for FSAs or FCAS credential holders. Additionally, health insurance companies may present a trade-off, offering lower hourly rates but including valuable benefits like health insurance, which many consider essential. For actuaries negotiating their rates, it's crucial to assess both hourly compensation and the benefits received, as these factors significantly influence overall job satisfaction and financial security in Parma.
More salary data for Parma, OH:
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 Parma. 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 Parma 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